Canadian Economic Growth in July: ZERO PERCENT. News Media Reports On It: NEAR ZERO.

This is a pivotal statistic, always, but given that it’s election time, and economic factors are all-important, it’s all the more important. And these factors are not looking good for the Trudeau Liberals right now. Therefore, the news media buried the story in every way they could. I found it on page 22 (twenty-two!) at the Vancouver Sun, even though they seem to acknowledge its importance:

Economic growth stats over past few months of 2019:

March 0.05
April   0.03
May    0.03
June   0.03
July    0.00

This is not a good trajectory. This is not a good time to be planning — promising — to vastly expand Canada’s already excessive program spending and already large annual deficits. July’s growth was ZERO. When growth goes below zero the economy is contracting rather than growing — like it did in February of this year (.3). If it contracts for two quarters, it’s called a recession. Do you hear the news media talking about a recession for Canada? No. Not now. Possibly in exactly three weeks.

Joel Johannesen
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