A secret report by the Royal Canadian Mounted Police (RCMP) warns that Canada’s economic future is bleak and that young people are going to be profoundly affected by it.
The document, titled “Whole-of-Government Five-Year Trends for Canada,” is heavily redacted and largely focuses on the effects of climate change. However, it also predicts major economic trouble for Canada in the years to come, noting, “In the words of Emmanuel Macron, we are about to see ‘the end of abundance.’ Economic forecasts for the next five years and beyond are bleak. It is always unclear exactly how economies will perform, but this period of recession will likely have a negative impact on the social and political world as well. The coming period of recession will accelerate the decline in living standards that the younger generations have already witnessed compared to earlier generations. For example, many Canadians under 35 are unlikely ever to be able to buy a place to live. The fallout from this decline in living standards will be exacerbated by the fact that the difference between the extremes of wealth is greater now than it has been at any time in several generations.”
The Royal Bank of Canada reported last December that Canada was “At or near worst-ever affordability levels in many markets: The situation is particularly tense in Vancouver, Victoria and Toronto where the costs of owning a home are sky-high. Ottawa, Montreal and Halifax also face challenging affordability conditions.”
The Financial Post noted of Canada’s economy under leftist Prime Minister Justin Trudeau: The level of program spending in Ottawa today is 35 per cent higher than it was pre-COVID-19. … volume spending on aggregate business investment is lower today than it was in 2012. On a per-capita basis, government program spending is 27 per cent higher than it was in 2019 and almost double the average of the past 40 years.
Read full story at The Daily Wire.
