Yesterday, reporters of various media outlets including the Financial Post touted a surge in the growth of the Canadian economy. According to Statistics Canada, the statistical agency of the Canadian government, the economy of Canada grew at an annual rate of 4.5%. However, is that true?Priced in True Dollars™ (orange line), the Canadian economy grew 1.19% quarter over quarter for annualized GDP. The Canadian economy is still down -60.03% from its True Dollar peak Canadian GDP, which it hit at the end of the first quarter 2008.
Exports account for 26.3% of the Canadian economy. Exports to the United States account for 75.2% of that. Said another way, Americans buy 19.8% of the sum of what Canadians sell.
Yet, Stats Canada and the Canadian government would have the world believe the economy of Canada is growing in spite of the nine year economic depression, the Greenspan-Bernanke Great Depression, in which Americans only now are crawling out from under.
In THE BARISTA ECONOMY. HAS THE US ECONOMY LEVELED AT LONG LAST?, the True Dollar Journal revealed how loans to working age population have only leveled off after a -95.03% drop from the peak hit at the end of February, 2008. USA True Dollar GDP has yet to level.
The Canadian economy is still down -1.31% year over year.
The Canadian economy is down -28.4% over its long run average since 1971.
Gab It
