Quote:
Originally Posted by acottawa
You aren’t getting the layoff headlines of the 90s, but I think things are worse now. In the 90s there was still a large manufacturing and R&D sector. Productivity was rising, housing was getting more affordable each year as the decade wore on. Now we only have a real estate inflation sector. Productivity has fallen off a cliff, GDP per capita is falling. Any new jobs being created are being done with massive subsidies.
Pain was also more evenly shared back then. Factory workers had a tough decade, but so did bureaucrats. Now, not so much.
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Economic complexity has tanked and GDP per capita has stagnated. I agree. But I'm not sure that actually constitutes and a terrible economy in absolute terms. It's an economy storing up trouble for the future to be sure.
Also, not all of this can be blamed on Trudeau. A lot of that deindustrialization and drop in economic complexity happened on Chretien, Martin and Harper's watch.
Trudeau gets the blame for trying to prop up real estate at all costs, leading to stagnant productivity and lower GDP per capita.