We're over taxed. Housing prices are through the rough and we manufacture nothing. We sell our natural resources and buy them back at a higher price. Yah just great.
Well...the natural resources we can get to market. We can't even get our own oil from Alberta to any domestic refineries. I doubt a new pipeline will ever get built.
Canada is deep in debt, hiding at the sub-national level. Deep, deep, deep in debt. Government debt per person is out of control. In addition to the debt problem, they are failing to capitalize on their incredible resources, due to self-inflicted policy decisions masquerading as environmental and social progressivism but really chosen for blind political gain, at a time where a shortage of those resources is now threatening to leave European allies cold and provoke WW3. Trudeau said to the German ambassador that there "has never been a good business case for LNG export facilities" when that ambassador was visiting to beg for resources. The current generation are priced out of the housing market, inflated for decades by record low interest rates and policy meant to favour an aging population and immigrant capital. The much lauded healthcare system is consistently ranked 2nd last in the OECD for most outcomes, ahead of only the US, and is completely failing rural communities. The lack of ability to establish private consultancies continues to drain the country of top medical talent, who migrate to the US, but would otherwise remain in Canada and expand the capacity of the system for serious procedures (rather than reduce access to existing free services which is highly constrained and could use relief from other options). The education system is too busy worrying about progressive policies to notice their plummeting mathematics results. The economy is sorely lacking in labour, because it's youth have been over-encouraged to pursue University education and they cannot attract foreign labour due to high cost of living, leaving industry unable to take advantage of significant demand in certain areas. And of course, there's the fact that everything Canadian is only possible due to America - economy, military, heck, even pop-culture and "unique" identity are completely reliant on the US (the main crux of Canadian identity being taking pride in "we're not American"). There is a massive reckoning coming for Canada in the next few decades, likely stagnation on par with Japan of the 70s-90s, despite all the immigration. When the global debt crisis finally starts to rear it's ugly head, Canada will be one of the hardest hit, make no mistake.
Slight correction from a Canadian, at 8:30 you said “when the American economy catches a cold, Canada sneezes”, the saying is actually the other way around. We say “when America sneezes, Canada catches a cold”. Oh, and sorry for bringing it up eh.
Wrong. In 2008 America caught the flu and went rock bottom. Canada's economy was fine. It took a dip just like most of the world did but it escaped the great recession.
@@TonyMontanaDS Your right and wrong. The crash of 2008 caused the Canadian stock market to closely mirror that of the U.S.A. Portfolios and pensions were devastated for many, including myself. Fortunately, due to a very different banking system and mortgage qualification criteria, the Canadian housing market was protected and far less interrupted. 2008 was a rare instance where Canada just got a cold and the U.S.A got pneumonia.
The youth of Canada are screwed. They either have a massive mortgage (financed by their parents), or pay exorbitant rent which consumes their income. Either way, there are no savings for retirement. The country is so screwed for the future.
It's not that bad. If you can avoid living around Vancouver or Toronto you should be fine. I just bought my first house, 30 minutes for the second largest city (2014, 4 bedroom, 13sqf ward, garage and everything), and I won't be crumbling under the mortgage. If you have a good skill job or if you studied in a meaningful/useful field you should be fine.
Canada wouldn't have such a slow population growth is a tiny small house wasn't around 2 million dollars. If you can't even afford to survive why would you want to bring a life into this world so they can suffer. Canada needs to have better wage regulations to keep the middle class going. I also say this as someone that makes nearly 3 times the average wage and still can't afford a house.
All Thanks to the unregulated spending by our prime minister trudeau and equally weak and incompetent opposition , ive always voted liberal since i came to this country but not anymore unless they change their policies and do something about housing prices , hate "CONS" so the only option left for people like me is N.D.P 🤷🏻♂️
Honestly I'd look at the USA if I were you. A house here in Canada on average will cost you double what you would pay in the US. And the wages a much lower too. Canada is just an expensive resort place to spend some vacation in. Definitely not live here imo. Saying this as a Canadian.
Lol 🙄 please please! Don’t trust this lies I live in Canada only the government is rich, but people are very poor they don’t even have their own house they live in a rent and mortgages and suffering with depression and stress don’t let this kind of videos fool you.
Exactly. There is no reason for the vast difference in wealth. Canada is blessed so the homelessness, the horrible problems that are happening to a majority of Canadians is not necessary. There is enough for all.
I am a Chinese international student, i have been studying in Canada for 7 years. Compared with the United States, Canadian society is more tolerant of immigrants, there is less racial discrimination, and people are very friendly and kind. Love Canada from China, I really miss the time when I lived in Canada.
Well in the 90s, Richmond was avoided and the main road was known as the Ho Chi Minh Trail, do to new drivers and the need to avoid the booby traps, that has changed and those comments are never heard anymore.
@@pololedodo7981 what does she have to do with what her government does ? Should we be blaming you for Canada’s many residential school massacre’s too?
Thank you Canada for being so welcoming to immigrants. Its my 6th year now and I came here as a student when I was 18. I have lived in all three major cities in Canada, I started in Toronto and spent 4 years in Montreal studying French, 6 months in PEI and ended up living in Vancouver). I'm a motocycle enthusiast and I visited so many incredible places like from west Windsor/Detroit US border to the east where you can see the most spectacular water dam in Quebec Canada. I drove my car across Canada this summer. (Quebec Ontario Manitoba Saskatchewan Alberta and finally the beautiful British Columbia) Thank you again for such an amazing life experience. It's been a great honor.❤
Coming from a developing country myself and migrating to Canada, I could see the big difference a developed country like Canada runs its system more efficiently. Yeah taxes are high here but you could clearly see the difference in terms of how the government serves its people through social services and infrastructure.
Haha I know your from hopeless Philippines, where self-serving politicians are more atuned to elitism and privilege. Economic developments we have here are only urban sprawls and nothing else. No real social or structural improvements. A city is said to be doing good simply because it now has bigger population, period!
In america if you think you might have a broken arm you avoid going to the hospital because you might be charged $60,000 In canada you might avoid going to the hospital because you'll be sitting in a waiting room for 16+ hours just to be triaged.
11:59 Tourism struggles for a a few reasons, but one reason that is seldom mentioned is the vast distances. People who come as tourists do not have time to travel to more than one or two interesting destinations. The travel time to go to many sites is prohibitive. This is exacerbated by the great lack of mass transit outside of large urban areas. No high speed continental trains for instance.
High speed trains like in Japan or Europe would be pointless in Canada. The tourism season is too short and the consumer base is too small. It will be extremely expensive to build and maintain such a system anyway.
If they gave you lemon, make lemonade! People should come and visit one city or region at a time, then come back again …..develop some travel products or concept that attract visitors to come back a second time, just like Europe! Sell the region, not the country.
"Having a good welfare system does not make a country Socialist". That's a (very) simple point many Americans (USA) have a hard time wrapping their mind around.
Good reply. Americans can seldom wrap their "minds" around anything which isn't home grown. Pity, they used to lead the world with progresssive ideas from which we all benefitted. Now it's neo-fascist shambles, similar to many African dictatorships. So what if a country chooses socialst programs anyway? Does the sky fall? What childishness!
@@robertscott537 I disagree with that comment to some degree. The US under Biden is leading the world with a Global tax rate against huge corporations to end or limit tax havens. So there are still some progressive ideas. I would also argue that social programs are quite popular here and have much support. For example, the latest American Families Plan that is said to be passed with the infrastructure bill has majority public support. It is said to be the largest expansion in the US social safety net in 50 years. I think the only people who are against social programs are the republicans. They are the ones to quickly label things as socialist or communist. Why listen to them, when they are not even in power?
@@chrisb9996 The largest expansion of the social safety net just in time for Biden to grant amnesty and citizenship to all the illegals in the US before the next election, all but guaranteeing they vote Democrat? Talk about buying votes with other peoples money
Once again, another person that can THINK. Not too many of those in Canada. Don't you love those TH-cam videos that claim Canada is the best country in the world. The question is, I wonder in what other countries he has lived in to make a silly statement like that. Of course, if you came from some banana republic as a refugee to Canada, it would be the greatest. By the way, I was born here and I can say that because I am not blind and have travelled the world.
@@mjor6406 Well for starters and if you think it is so easy, can you get me Australian or New Zealand citizenship? I am not so brain dead to think everything is so much better in Canada like many of those really dumb TH-cam videos claim. You realize one of them even stated that we produce more maple syrup than anyone else. Wow, what an effing claim to fame. We produce nothing in this country. Everytime I want something, I either have to pay overpriced Canadian pricing due to an extra middleman or slip over to the US and buy it there for a lot less.
Live in Canada... Dad had to have his thyroid removed, go on meds then have a diseased heart-valve removed all within 6 months... cost him nothing except the TV we kept buying for him ($30 a day is a lot man...) while he recovered in hospital. Brother had a completely shattered ankle, needed several specialists to piece it back together, 20 steel rods, 6 months of pain and agony and it cost $400 for some nice comfy crutches. If for nothing else, I love this country for that. I, thankfully, have not needed it's help nearly as much but I am infinitely grateful that if something happens, it will not be the financial ruin of me, regardless of my income.
What shocked me is how much it costs for those _not_ covered by our healthcare system. I had a roommate who was an international student who's health insurance hadn't kicked in yet. He slipped on an apple and broke his ankle. He had a bunch of X-Rays done, had a cast made, and got a set of crutches. Including the ER visit in the middle of the night, the cost to him was... $1,500. The crutches were only $40. I'm very curious to know how much a similar visit would have cost in the US...
@@romeomontana238 I have never had any major health issues but if I do... glad to be in Canada, are you implying you would rather be in the US, pay taxes *and* hope your work has good insurance or get your own?
@@romeomontana238 I... Reverse engineered your taxes and if you are paying $3200 in Federal taxes.. you are making around 180k a year.. Otherwise if you are paying a combined $3200 in federal and provincial taxes you are earning about $125k a year. So.... you have my sympathies? All this is pending you live in Ontario of course.
@@romeomontana238 how conceited do you have to be to make a good story about people getting medical help, not having to go bankrupt because of a decent medical system and then make it about you? And more specifically a complaint about how much taxes you have to pay. Please, find another country, Canada doesn't need your type.
Has been living 5 years in Vancouver, now planning to move to the US due to high prices for living. Simple house costs around 1.5M $ which makes it impossible to buy for single household with the income of 100k.
As a Canadian who thinks we have a long way to go if we want to live up to being everyone's favorite country... it's really weird seeing people praise us for doing the bare minimum 😅If we're the nice country, it sometimes scares me to think of what it's really like elsewhere. I keep up with international affairs, but haven't ever actually left Canada, and I really feel like we don't live up to all of our positive stereotypes. We do all live in igloos though!
I 100% agree, with how much oil, lumber and other natural resources combined with how many immigrants are coming here I would think we should have a lot more money. In Vancouver the cost of living is so high it really doesn't matter if you make 100k a year if it costs 100k a year to live. I think a lot of our problems are how much we discount the US. Vancouver is one of the largest places to film in NA, for a little bit during Covid is was the most filmed place in NA. The reason is Canada gives the film studios a lot of tax breaks to film around here. The question is why are Americans getting huge tax breaks instead of the US? Not to mention so many other resources we cheaply share with the US. It really comes down to Canada has no ambition to either sell what we have for better cost, or come up with something that is worth a higher cost that would boost the economy.
One of the reason is that you haven't experienced the worse countries. In my home country, any bigger disease / visiting to ICU could make your whole family be bankrupt; You would pay similar tax rates, but get nothing from government; You may be bullied by local wealthy people but no way to protect your family; You may be not able to study in University since someone hijack your accepting letter; You are not allowed to use TH-cam/Google... Too many to list. Overall, no country is 100% excellent, but Canada is close to the excellent one.
I find Europeans and East Asians to be much kinder than Canadians from personal experience as a Canadian who enjoys travelling. Canadians keep to themselves in cliques where they feel safe surrounded by friends, while the other groups I mentioned are welcoming and curious with foreigners. I think the narrative of Canada as the fav country is based on outdated stereotypes from folks like Bob and Doug Mackenzie. The only difference between a Canadian and American is the American will actually say what they're thinking.
interesting overview of Canada's Economy. Wondering if you will do another video about the future of Canada's Economy in this rapidly changing world where the balance of power is shifting and perhaps our neighbour to the south is losing it's position as Top Dog.
We're already starting to see the effects of this. Canada is increasingly moving towards multipolar trade deals, whether it be with Pacific countries through the PRFTA or with Atlantic entities like the EU and UK through EUFTA and CANZUK. I think the big Cheetoh really drove home to the federal government how much our country is vulnerable to American strong-arming when he used tariffs and trade shutdowns to force through USMCA and shredded NAFTA.
@@uchennanwogu2142 As the U.S. loses power. Canada takes its economic interests elsewhere. IE international trade deals and businesses of non American origin. It's a natural thing that has happened countless times before to many countries through out history. Canada will take its investment and trade elsewhere to ensure continued economic growth.
@@The_Bear21 born, raised and still living in eastern canada (which would be 44 years 😁), i've never heard anyone say "eh" ... lol! i have no idea where it comes from ... i remember little sketches that rick moranis and another comedian used to do in the 80s or 90s, a sort of parody comedy bit, and they were constantly saying "eh" with a very exaggerated accent, which sort of stuck, and the characters they were portraying were from edmonton - i don't even think albertans talk like that (i wouldn't know, i've never been), but i honestly think it's a totally stereotypical thing about canada that's just made up 😅
I haven't sniffed a 100 dollar bill in a while, but I remember when we first minted our new polymer bills they definitely did have a sweet maple aroma. Though I don't find any of the smaller denominations share the same sweet sent as the $100 do.
So you haven’t sniffed $100 bill eh? Good for you ! Have you ever sniffed a hockey player’s underwear? Do you know what a igloo full of unwashed Inuit smell like after they have been in there for eight months? Make some more bullshit up!
@@Hezzey Ahh you got me! I sniff fat stacks of those sweet maply $100 bills at least twice a day, once while riding my moose to work at Tim Hortons and also when I'm rubbing one out to that picture of Justin Trudeau hanging on my wall, I cant believe you saw through my deceitful lies 😂
@@bevvy.bee9 Why do you think western manufacturing moved over seas? It's because companies could get away with paying Chinese and Indian workers less then American workers. This is true regardless of which currency you use.
@@GreenGiant400 yeah but that's what happens when wages increase, they move manufacturing oversees where wages are low. People in developed nations then move to service based industries that usually require you to be educated
@@bevvy.bee9 Average wages haven't increased since the 70s (accounting for inflation). Jobs left not because of increased wages but because of an increasingly globalized market which has fewer restrictions on it, as well as the industrial development of countries like China. It's an arrangement that has worked out well for the west since they can take advantage of hyper exploited labour to make cheap products without fear of the political backlash that would come from your own population if they were that exploited.
If the West would take back the entirety of its industries the 2nd and 3rd world would go into crisis as well as countries like South Korea.The devellopment that happened in Asia and Africa is mainly due to trade with the West.
Thanks. Great video. High cost of living means often both parents work and spend longer time in education to earn more. This combined with high child care costs solves the mistery of low birth rates. Even with socialised health care and education, parents in many regions simply can't afford to feed and house big families.
To add having an older work force that doesn't retire means younger adults that go into any field get stuck at lower wages because theres no upward momentum in any job. Most people max out their wage at 3-5 years at a company and are stuck till someone retires. Making the income for a young adult house hold less, making it harder to buy a house have a family ect. that older generations already have and just sitting back on what they make. Every job I've had or friends in the last 12 years, upper positions are people from 40-65 and anyone working there from 20-30 are stuck and usually end up leaving. Young adults don't like working at a place where it seems they will have to work there for the next 25 years just to get into a position of upper management. Thats a mortgage length of time that they wont even be able to afford a mortgage.
As a farmer in anada, I would like to say that climate change, has in my lifetime alone, shown to help us but long term will screw everyone. We plant corn with a 20% yield compared to what was being planted here 20 years ago. Heck, 25 years ago Soybeans in our area we're unheard of but are grown plentiful here.
Good thing for the world. Canada's forests are needed for climate control and oxygen production. High cost of living is the only reason the world has any nature left.
With an income of $100K you may have a struggle in Toronto or Vancouver, but if you can't manage anywhere else in Canada, you probably not managing your money at all.
@@robertross7666 The cost of real estate outside of major Canadian cities is considerably lower, but also on the rise. If your living in rural areas, but working in the city, most of the financial benefits of living rural will be lost to the cost of gas, vehicle maintenance, insurance and your valuable commute time.
As an international student in Canada, I agree. Studying here in Canada is not cheap, and it comes with lots of restrictions and penalties, but unlike the USA, there's a pathway towards residency after graduation which makes all the investment and hassle of studying abroad worth it.
Studying in Canada is cheap for people who have Canadian nationality. I'm a french Quebecer and university cost like 10 to 20 times less than in the US because government just pay for it.
No the recently minted ones definitely do. The little maple leaf transparent dot on the left side of of the bill- if you scratch it it does smell like a hint of maple syrup. If you get the 100s that have been circulating around Toronto’s financial district they’re more likely to smell like blow though
Canada is heavily in debt, older population, low birth rate, higher devoice rate, and low paying jobs. I am sure this will not bite Canada in the ass in the future/present.
We went through worse, skulay.What will bite us in the ass is the mass migration and the conflicts that will appear as the population will be separated into tribes fighting each other like in the U.S.A.
Yup, most jobs are minimum wage and most jobs are low hours. I know personally many who went to Uni and ended up working a low paying job, simply because they couldn't find a job doing what they went for. It doesn't help any that education is still extremely expensive, which is going to bite our economy in the ass in the near future when more and more jobs are going to be needing advanced skills, not being able to afford those skills is going to push our welfare system to a breaking point.
Rich? The one thing I’m certain about Canada is that Canada is poor af. Everything here is more expensive. The country seems to be underdeveloped a lot compared with other developed countries like European Union or Japan. Taxes is really high yet I never seem the government put it into good use to develop something. Interest rate is extremely high nowadays and the inflation is just a joke. A lot of Canadian r lazy, and they tended to be more liberal mind which means they try to wait everything from the government. And the government keeps give free money to those who do not want to work. Therefore they never actually have the money to build any infrastructure or everything whatsoever.
"Canada needs to invest in its people - not by showering more social benefits over them, but by promoting a culture of entrepreneurial mindsets and innovation." Speaking as a born and bred Canadian, we don't suffer from a lack of entrepreneurial spirit. What's happening is that we don't have enough discretionary income, therefore, we're risk-averse. Cost of living has increased faster than wages, especially when it comes to housing, both home ownership and rent. Living in areas that well away from Toronto/Vancouver does create more discretionary income, but prices are increasing everywhere at this point. So long as you're being frugal, you can still save a fair amount, yet saving is undeniably a slower process these days when over half of your annual salary goes to basic needs. Considering the first bulk of savings goes to emergency funds and a future down payments, saving up for anything else happens later in life.
Great point. Big enough discretionary income does not necessarily encourage entrepreneurship. I think it is more of a cultural and a mind set thing. I think the government needs to do more in terms of incentives and programs to encourage and support innovative ventures that will grow the economy. But then again, with good social and health benefits, why would her citizens move a muscle. It is not just peculiar to Canada, it it a human tendency.
This is something I completely agree on an have argued in the past, but I think you have said it better. There are a lot of resources that I think we could make more on, but discount to the states for very cheap, which is somewhat okay because we rely off them as much as or more than they rely off us. However one thing we don't have that the US does is that ambition to just make money and drive an economy. Most people here don't care about being Mark Cuban or whatever rich person from the US, they just want to work a decent salary and take care of their family. There's nothing wrong with taking care of your family, but if we encouraged ambition more, or just had more of it I think we could have such a great economy. Personally one thing I would do is lower the funding we give to welfare and decrease the cost of schooling for Canadians. Welfare in some cases will pay for school, but if you aren't on welfare your stuck racking up debt which to me seems unfair and imbalanced. Why does someone who gets part of their rent paid and monthly subsidies get school subsidized while other low income people are left to get a loan and be in debt after school. Welfare is a horrible system in it's current state anyways. It's short term help, every month people need another check to survive off welfare. Investing in cheaper schooling is long term help. After graduating you can get a job and aren't dependent on the government. Public colleges aren't too bad, but big Universities and private schools are still very daunting and could use some work. Even just creating a system where no scholarship gets left unrewarded would really help, since so many scholarships never even get used.
Yeah that last part seemed very ideological to me too. We have plenty of entrepreneurs, believe me. What we instead need is to get our cost of living under control. You want to encourage entrepreneurship and more effective investment? Let's try to make it cheaper to actually live in the major cities! However, that sort of issue can only be solved by diligent nationwide urban planning. For example, we need to encourage people to move more to cities outside just Toronto, Montreal and Vancouver. Provinces and feds should do more to make these other cities just as big and fun. If the population is more spread out, you'll see costs naturally become more reasonable.
Couldn't have put it better myself, that final word segment left me with the exact same sentiment. If people are learning from this video, this comment has to be at the top.
As a Canadian I can say the people are amazing, the geography is amazing, and I can't say what I think about the government because *Comment removed by Canadian Government/Commentaire supprimé par Government du Canada*
The thing said about immigration working harder is not true, as per government stats, 92%of the Syrian immigrants that came into Canada are still on welfare
To bad the same doesn't go for the government. They are following the Marxist play book You know bankrupt the country, destroy the middle class. We are more than a trillion in debt. We do not have a healthy economy. Where have you been hiding?
@@fwcolb he could be forever though lmao all this censorship and bill c-10 is gonna turn everyone liberal there isn’t 4 year terms like USA Trudeau could literally be prime minister until he dies and his recent re-election he literally lost to conservative in popular vote by 200 000 people, he only won because of the seats like literally 52% of Canadians votes go unheard
I'm an international student in Hamilton, Ontario and can validate that I love this place and i hope I can make this amazing country with amazing people my home permanently!
You got it backwards: The saying is: "When the US sneezes, Canada catches a cold". This refers to the fact that in an economic downturn, we get hit harder than the US.
while that may be the saying, it's not necessarily true. For example Canada faired MUCH better than the US during The Great Recession. Not a single bank defaulted in the country, unlike the UK or US
@@patrickbajorek5500 thats because we had a good financial minister at the time who almost completely stopped the problem from manifesting. But now all the regulations have been removed by the Trudeau government, so were back in square one
That's why I keep a close eye on what's happening in the states even though I'm Canadian. Both our countries are intertwined. If anything big/significant happens to them, will definitely affect us
I heard that Canada's income is only half of the United States', and it's very difficult to find a job. I also heard that immigration is a scam. I don't know if Canadian friends can tell me the real situation. I plan to immigrate to the United States, Canada or Australia in the future, but it's hard to distinguish between Canada and Australia.
It is not a scam. but would be the last one to choose among U C and A. People are very unprofessional due to people who want to work going to the US and the employment insurance system and probably the cold and dark climate makes people less warm-hearted and positive. I have been there 3 years and also lived in Au for more than 3 years. It is just painful to deal with any industry from government agencies to banks. It is difficult to solve a problem and everything took for ages, many things you think just a mouse click or hours could take weeks and months, which is not an abnormal situation but is actually their service standard.
The Bank of Canada has said before that they do not add any odor to the bills. I've have tried large stacks of any denomination and they all have that feint smell of maple. Maybe it is the smell of the plastic is just similar to maple?
@@killman369547 You are right! Video is not 100% accurate. I'm bord in Canada and live in Canada.(from Quebec so sorry for my english) I think maybe video "cut round the corner" and go to the "Trudeau image of Canada" and stereotypes. The video does not tell lies but does not tell all. Canada look good from outside but have a lot of problems in the inside.
An immigrant from Europe said that in Canada you have to work for every single penny. for the majority of people, most jobs are grossly undervalued here.
I know it's highly unlikely but could you make a video about Hungary? That place is in a wierd limbo, people either can't tell where it is or they have been there and loved it. As far as I can tell, economy channels tend to avoid hungary due to fishy statistics (Like in russia or belarus)
@@richardnemeth5911 Poland is at a different scale due to population size and geographic location including having a seashore...it is in a easier position to get it developed....
im canadian and i actually had no idea considering i live in a city with over a million people and it feels like a good half of the people are poverty stricken
@@myHandle8374 our prime minister is 100% not the cause of this lol. He has had great economic policies. We have had a housing issue for the last 20 years. So blaming this on Justin doesn't even make sense. Especially when the entire world is going through a lot of inflation for the war and other causes. Actually when the conservative government was in power was when this started if you want to get into this. It's nice if we could blame one man on our problems. But the reality is it's not. A modern economy is complicated.
Canada reminds me of that nice big house you drive by and think " man they must be rich". But then you find out that they are just in an insane amount of debt.
Canada is known for having a really stable banking system with strict regulations. Maybe this risk aversion is why we have an entrepreneurial short-fall though. Sorry about that, ey
Canadians are addicted to debt. They live a life that they cannot afford. 53% of Canadian are just $200 away from bankruptcy. Housing driven debt is the primary driver of this illusive prosperity.
I came to Canada from China; When I was child, I don't enough food; I had to walk almost 5 hours to high school one way trip, and brought pickles to school because couldn't afford meals. Now in Canada I have a 3000 ft^2 house and investment properties. So grateful for everything I have.
Do you actually do anything positive for the community or just TAKE TAKE TAKE from them like the vast majority of other successful people in Canada? All I hear is the typical "Grew up or moved here back in the good o'l days made a bunch of money bought a bunch of AFFORDABLE rental property and now Instead of doing anything positive for for my community I simply charge them twice as much for rent....Genius!" And now you all see why young people are in the situation we are in... Greedy scumbags
K D All good questions. Founder of Barrick, the biggest gold producer in the world, he starved at home country and shocked at how much food on table after came to Canada when he was a child. He worked very hard all his life and donated a lot of his fortunes to charity. Good role model.
For the healthcare in Canada; I never really needed to go the hospital my whole life. Then one time 3-4 years ago I needed a massive surgery that would have put me back 250k canadian. I know because it was literally written on the walls of the hospital how much the fees would be if I did not have my health card. All to say, maybe Canadian health care is not the best but, it sure as hell saved my life and my wallet. For that i’m eternally grateful. Go Canada!🎉🇨🇦
Okay I got a free surgery from being hit be a car and the retards used a massive screw for my ankle...okay like a third the size of that and the surgery was only 1200
@@adaptercrash many health care professionals in the whole system and some better than others that’s for sure. Sorry to hear your surgery didn’t go as well as it could have.
@@alexyoung2104 they bad man my stepsister had a terrible surgery I been to school and their pre med bachelor is a joke compared to mine they ain't academic I've had one good experience with a stomach infection where they actually did a good job but man you still pay for the anti biotic and know you need them its just a testing process to get prescription that's if you can get past triage honestly I had to go to Walmart clinic for that and the hospital just didn't care I can't even follow up on being ran over go to the clinic it's all retards with kids who will be fine in a few days i as sick all the time as a kid and went there twice cause of bacterial inflammation and pink eye
Correction, our healthcare system is terrible . You wait months to years for operations . Many can't get a family doctor . System is broken for the demographic reasons stated earlier in your video .
Anything "free" is seen as amazing. If they had to pay for the value of the services they received, Canadians would have a much different tone. You have to advocate for your own health and push against the healthcare system to be taken care of properly. Those who can't see that are probobly just happy to mooch.
I’ve been an International student here for 2 years and working here for 1 year now. Undoubtedly it’s the best country on this planet. Warm welcoming people, amazing places to visit and most importantly respectful in every terms. Canada you have my heart ❤️ God bless Canada 🇨🇦
This is the first time outside of Canadian political economy books that I've seen someone mention the staples thesis and its impact on Canada's economy, politics, and civil society. I don't think most Canadians have ever even heard of (arguably) the most significant guiding idea in this country!
Another thing that should have been mentioned in the segment "Canada is an Energy Superpower" is that we are also a major producer electricity. Per capita, we're some of the biggest producers and consumers of energy. A very large portion of primary aluminum transformation on the north American continent happens in Quebec because of just how cheap and readily available electricity is. Just as there are oil pipelines to the US, there are also a number of electrical interconnections. We've still got massive untapped electrical generation potential. Given the right conditions, we could be a major partner in decarbonising the US. This is something that provincial governments are rather keen on.
We pay the usa to take some of our power when we overproduce and storage is full. We need better leaders to make us our own rich country rather than piggy back the us
@@aboudhh I don't think you really understand how the power grid actually works. There are many reasons why most interconnections are between Canada and the US. #1 Distances are shorter between Canadian and US cities than between Canadian cities. There is quite literally 1500 kms of nothing in northern Ontario. It is much easier to connect to the US grid. #2 Our grid are perfect negatives of each other. The US need more power during summer, and we need more power during winter. While we mostly export power, we actually import a small quantity during the coldest days of the year. #3 We actually make a lot of money selling electricity. We're talking billions per year. On a provincial budget, that makes a big difference.
8:32 I think you got that wrong. When America sneezes, Canada catches a cold. Canada is way more dependent on exports to the US than what people think. Canada would be ' dead ' if the US shut down imports from north of the border. Millions of Canadians would find themselves unemployed almost overnight if that were to happen.
Your claims aren't based in reality. If the U.S. shit the northern border Canada would just transfer its economic requirements to China and Europe. The U.S. is incapable of hurting Canada because we have good leverage over them. During the trump administration we threatened tariffs at targeted states that would ruin Trumps chances at reelection. Trump backed off and got rid of multiple tariffs as a result. Canada has unique economic pull against the united states. If Canada shut the border down. 15 states that rely on trade with Canada would completely collapse. Triggering civil war in the U.S. and cause destruction.
@@rkt81 this comment needs more thumbs up lol, we should really be increasing the quality of the current Canadians rather than trying to keep on bringing in more people. Eventually, we will reach capacity on earth. Also, because of the high taxes, cost of living and relatively low wages, it becomes very difficult to actually live and not just survive for the lowest earners.
Check back in fifty years. The best years were behind us and now slipping into " under developed" country status. A third of the population is creating the " taken for granted" wealth. That percenrage is getting smaller and transformation into a nanny state is the current situation.
The healthcare system is not functioning as intended. A year out from this video we're seeing emergency room closures. Our units have been understaffed for years, and I don't even want to think about the long term care facilities.
@DragonHeero Many clinics that have access to xrays can deal with broken limbs but sorry that aneurisms, car crashes and heart attacks take precedence over your broken limb. Poor you.
@DragonHeero Healthcare in this country is a provincial jurisdiction so if it sucks in your province, elect better people. Also, patients have to be better advocates for themselves and not expect miracles, doctors are doctors, not magicians. More than half of the issues seen at a hospital are lifestyle related.
@DragonHeero Here in Quebec we have a drug plan created by the provincial government that we are all forced to pay in to every year. Again, a lot of these things are provincial problems. As for wait times, our population is aging and the vast majority of us dont take care of ourselves, so how much do you want the government spending on healthcare? How much higher should your taxes go?
@@susiex6669 "Here in Quebec we have a drug plan created by the provincial government that we are all forced to pay in to every year. Again, a lot of these things are provincial problems. As for wait times, our population is aging and the vast majority of us dont take care of ourselves, so how much do you want the government spending on healthcare? How much higher should your taxes go?" There is significant room for improvement. I think a big part of the problem in Canada is we spend all our time comparing ourselves to the Americans and then patting ourselves on the back. Thing is we ought to be comparing ourselves to the Europeans who use systems that are ultimately much more similar to our own. When we do that we find that we really don't do socialized healthcare all that well compared to our peers and really we should be trying to figure out what we can learn from countries like France that deliver socialized healthcare that is arguably the best in the world much more quickly then we do. Basically I think our problem is we are caught in a false dichotomy of either we have the Canadian Healthcare System or the American one and that does not need to be the only two options. I am not even saying we need to dismantle the Canadian System... just recognize that there really is room for improvement and that such improvement does not necessarily even have to cost whole bunch more. Most of our peers pay roughly the same as we do per capita and get better results.
Canada 🇨🇦; by far my most favorite country in the world 🌎. I literally fell in love with this country back in my high school days in the early 90s; eversince, Canada got stuck in my mind for many years now. The more I see stories about Canada, the more I just want to go to Canada 🇨🇦😫. I have stacks of books 📚 about Canada; travel, economy and politics that I have been reading for many years. I love Canada! 🇨🇦♥
I'm not sure you even mentioned one of the best benefits of living in Canada, in my opinion anyways......it's safety which translates too very low violent crime and gun deaths. I have lived in a Capital City of Victoria all my entire life of 49 years and I can say I have never heard a gunshot or know someone who's been shot or murdered, etc. and have seen a gun drawn twice both by Police and I've had at least 25 interactions with Police so as you can see our Police are not "trigger-happy" or expecting everyone to be armed either. How many other places could you live for 50 years and not hear a gunshot or witness a violent crime? People are friendly here because of this feeling of safety and say hello to strangers passing by at 3:00am.....it's a feeling of safety we really take for granted sometimes but it is one of it's best benefits
As a Canadian we do not have a strong economy. We have the foundations of a strong economy but our political leaders always find more ways to make sure we struggle harder. It's truly irritating. Whether conservative or liberal. They only have their own in mind. Canada could be the best country in the world very fast if we had a proper government.
Hi I’m Canadian the 100$ bill doesn’t smell like maple syrup because it would be a health hazard to have people smell mine and… well let’s be honest it’s just kinda weird.
If you think the 38 million people in Canada have any control over what the other 7.9 billion people in the world do, you are grossly deluded. Rake in the oil bucks (at least our production has some controls) and use the income to develop more economically feasible green tech. An economic incentive to improve emissions is the only one that would actually do anything and if we develop and produce it then we get to reap the benefits. If China figures out cheap, clean energy production and viable carbon capture fuels first, then we are instantly third world.
@@jml7916 I don't see how Canada can balance the budget and recover from the pandemic without the revenues from oil production. I wish people would realize that only 20 % of a barrel of oil is burned to create emissions through automobiles, planes, trains, ships and heating homes, commercial spaces and heating applications in manufacturing, such as processing of foods. The other 80 % goes into lubricants, medicines and over 6,000 manufactured products made from plastics and other polymers used in our lives every day. Only a fool would believe that Canadian pipelines won't be necessary in 20 years when vehicles are mostly electric. Canada is a vast landscape, so the opportunities to eliminate fuels from transportation are minimal. Canada is also bloody cold for six months of every year and life simply isn't possible without heat. Replacement of infrastructure and home heating technologies are going to take centuries to replace. Without the profits from our resources, like oil, it will never happen.
*"Bilingualism costs Canada 2.4 billion dollars annually."* What's your alternative? Cutting access to all government services for a third of the population? (Or two thirds, if you get rid of English.)
Bigest reson why it costs so much is because most of the population does not know english and french, most people only know one do to the failure of our education system to teach in ways that are actually shown to work, like by starting second language teaching at a younger age.
@@C1azed Coming from a natively French speaking province, most 30 year-old people and younger are able to understand basic English. I can't say if it's the case for English speaking provinces though (are they even required to learn French as part of the mandatory curriculum in school?).
@@moresheep4854 Better than nothing I guess. English is mandatory until grade 11 in Quebec (starting somewhere around grade 2-4), at least that's how it was when I was in school. Plus 2 more years if you go to post-secondary education.
In Canada the price of the average condo unit is about 7x the annual household income. We are not really that wealthy, there are few European countries with a worse ratio than this. People will say we are still rich from a global perspective, but think of how far we have fallen in 2 short generations. In the 60s you could buy a HOUSE for 1.5x the average household income at a time when most women were housewives.
If we keep printing money, we'll soon lose our spot at the top of the list. Overall though, I don't think Canada is that great anymore as ever-increasing housing prices, unemployment, and a bad government plagues the nation. Politics are destroying this country.
Having a weak currency is important for tourism, film making and manufacturing. A strong currency would only help if businesses used it to improve productivity.
Unemployment? It's back at about 2016 levels (~7%), considering the pandemic not too bad. The housing is pretty bad. American politics are plaguing on Canadian ones for sure, but Canada is still a great country if you get your head out of the parliament for a few minutes. Everyone goes crazy only thinking about politics, and you lose sight of what makes the country great by isolating on what is bad.
@@mcmudkipp To be honest as a young Canadian born and raised I can personally point out more bad things than good. Dont get me wrong we have a ton going for us and greatful to not be in a third world country but as a person who went to school in the nuclear feild after 3 years of college and still not being able to afford rent in my area(currently looking elsewhere) it just blows my mind.
@@DNGOOfficial Yeah housing is a large issue atm. The government needs to do something, but there isn't much they can do. Since they can't give away homes. or just reallocate land. They can provide subsidies, but then it's just feeding the bubble since you're encouraging purchases at those outrageous prices. Really the best choice is to let it pop. And in the meantime find somewhere else to live. Though this doesn't change my stance that Canada has a lot more good than bad.
Shout out to Calgary Transit at 0:14. We use to have transit buses going through C-Train lines, but were rerouted a few years ago to make way for the 4 car C-train.
@@joeyj5538 I was not thinking of myself but others, Look around! Many Canadians are having a difficult time with the cost of living. I was not blaming others for my failures. I'm very blessed to have had a successful business and family. But I am aware of others going through difficult times mostly because of bad government for the last 8 years here in Canada.
A lot of the problems for the native population can be tied to housing costs. Nobody is going to choose to have kids if they can't afford a home. And nobody is going to become a risk taking entrepreneur when if you are careful and do everything right, there's still a fair chance you will not live a comfortable life. In the present you will be fine, but you may never have a secured future financially where you can retire someday. If you start one wrong business, you'll be poor for the rest of your life.
Good point noted, but I disagree with you that if you start one wrong business, you will be poor for the rest of your life. How? Can you tell me any millionaire or billionaire that took off off on the first short? You see, great enterprise are built by risk takers(calculated risk of cause). Canada is a Capitalist country an that should encourage business ventures. I am a month plus in Canada and I have observed that the government are trying to to encourage entrepreneurship and innovation.
Immigration pushes up housing costs. The area of land around a CBD is fixed. Increase the number of people in that fixed area of land and every square meter of it becomes more valuable and more expensive. Which is why owners of land like high immigration. To stuff more dwellings into a city, you have to cover over green space with roofs and roads, or build up or build out. All 3 options are a drop in living standard.
Canada is not perfect and has its own problems like any other country.. but I think it is the only country that everybody agrees to love !! I mean what’s not to love about Canada?! ..Canadians are the most polite and compassionate people I’ve ever seen, I love the people, the streets, the food, the diverse culture, I even love its harsh winters!! I just love Canada ❤️🇨🇦 .. I love it so much that when I travel back to the old country I start missing it within few days of my trip!!
This video made me cringe a lot. Author's disdain for social benefits, or god forbid, anything socialism could offer, is really evident. Which usually comes from people that are making statements about things they know nothing about. Now, I was living in Atlantic Canada for 7 months in 2018, with my then girlfriend and in-laws. I have seen how the real life goes. It might not be a very long time, but it wasn't just a week either. It was enough to get a sense of how my life would be there if I stayed. What baffles me since then is why Canada is universally hailed as one of the best countries in the world to live in. In my opinion, Canada is slightly better version of US, minus mass shootings. It's decent enough to live in, but really nothing special. Coming from Denmark, there were several things I was surprised by. For example, hourly wage is kinda low in relation to the expenses. And if you receive monthly salary, you don't have your private time. Everyone I met basically juggles several cards and paying off debt from one card with making debt on another one. Food was expensive back in 2018, I can't even imagine how it is now. There is no widely available public transportation, other than airplanes. The organization of administrative system is absolutely atrocious. Internet packages are expensive, and mobile internet prices are just insane. Buying a house is basically impossible with current prices. And on top of everything else, you have conservatives who want to privatize everything, including healthcare, and a whole lot of Trump supporters that can paralyze parts of the country at the drop of US republicans' hat. Don't get me wrong. Canada is ok country. Canadians are super nice. I married one :D I just wanted to point out that it is not this shining example of sunlit uplands. Statistically yes, by all means. But statistics are very deceiving. It is very rich country, but like in US, I guess that money goes to the small percentage of people. It can be the richest country in the world, but if I, as a common citizen, don't share in that wealth and I can't afford those awesome universities, or to have a house and family, what is the point of all those riches?
In Canada, it's called a microwave oven. In Australia, it's called a zapperwhacker.
i will give it to them, Canada take the L on this one
canada is a service based country. and that is a wealthy country? a service based economy is a declining one.
we call it a nuker
In Canada you can microwave it, mic it, nuke it, zap it, or irradiate it. I don't think I've heard anything else used.
I can't say I've ever heard it called a microwave oven here, usually just a microwave or "mic", also using the term "nuke" as a verb
We're over taxed. Housing prices are through the rough and we manufacture nothing. We sell our natural resources and buy them back at a higher price. Yah just great.
Couldn't have said it any better lmao
Well...the natural resources we can get to market. We can't even get our own oil from Alberta to any domestic refineries. I doubt a new pipeline will ever get built.
You mean thorough the roof?! 😂
@@julyman9 that's all you got from that?
@@dusanstanko9881 all I got from that is that you can’t write for shit and need to go back to school son
Canada is deep in debt, hiding at the sub-national level. Deep, deep, deep in debt. Government debt per person is out of control. In addition to the debt problem, they are failing to capitalize on their incredible resources, due to self-inflicted policy decisions masquerading as environmental and social progressivism but really chosen for blind political gain, at a time where a shortage of those resources is now threatening to leave European allies cold and provoke WW3. Trudeau said to the German ambassador that there "has never been a good business case for LNG export facilities" when that ambassador was visiting to beg for resources. The current generation are priced out of the housing market, inflated for decades by record low interest rates and policy meant to favour an aging population and immigrant capital. The much lauded healthcare system is consistently ranked 2nd last in the OECD for most outcomes, ahead of only the US, and is completely failing rural communities. The lack of ability to establish private consultancies continues to drain the country of top medical talent, who migrate to the US, but would otherwise remain in Canada and expand the capacity of the system for serious procedures (rather than reduce access to existing free services which is highly constrained and could use relief from other options). The education system is too busy worrying about progressive policies to notice their plummeting mathematics results. The economy is sorely lacking in labour, because it's youth have been over-encouraged to pursue University education and they cannot attract foreign labour due to high cost of living, leaving industry unable to take advantage of significant demand in certain areas. And of course, there's the fact that everything Canadian is only possible due to America - economy, military, heck, even pop-culture and "unique" identity are completely reliant on the US (the main crux of Canadian identity being taking pride in "we're not American"). There is a massive reckoning coming for Canada in the next few decades, likely stagnation on par with Japan of the 70s-90s, despite all the immigration. When the global debt crisis finally starts to rear it's ugly head, Canada will be one of the hardest hit, make no mistake.
Slight correction from a Canadian, at 8:30 you said “when the American economy catches a cold, Canada sneezes”, the saying is actually the other way around. We say “when America sneezes, Canada catches a cold”. Oh, and sorry for bringing it up eh.
Right you are. Also heard "when America catches a cold, Canada gets pneumonia."
and when China coughs... ( lol too soon?)
@@spliffington2394 is this a COVID joke or a economics joke, ether way it funny
Wrong. In 2008 America caught the flu and went rock bottom. Canada's economy was fine. It took a dip just like most of the world did but it escaped the great recession.
@@TonyMontanaDS Your right and wrong. The crash of 2008 caused the Canadian stock market to closely mirror that of the U.S.A. Portfolios and pensions were devastated for many, including myself. Fortunately, due to a very different banking system and mortgage qualification criteria, the Canadian housing market was protected and far less interrupted. 2008 was a rare instance where Canada just got a cold and the U.S.A got pneumonia.
"Bringing more immigrants is more of an economic decision than a moral one. " - Agree
When it comes to sociopolitical decisions, always follow the money.
@@tomasandrew9354 well stated.
It’s doesn’t benefit the economy the elite just want more votes
We need immigrants. I want a half mixed kid. Stronger immune system
But legal immigrants. Illegal immigrants should be deported after a first hearing by a judge.
Why is Canada so rich? We ain't
Canada's economy is bolstered on mortgage debt. The country may be rich but the citizens are not. Citizens are house poor.
Couldn’t have said it better myself
The youth of Canada are screwed. They either have a massive mortgage (financed by their parents), or pay exorbitant rent which consumes their income. Either way, there are no savings for retirement. The country is so screwed for the future.
It's not that bad.
If you can avoid living around Vancouver or Toronto you should be fine.
I just bought my first house, 30 minutes for the second largest city (2014, 4 bedroom, 13sqf ward, garage and everything), and I won't be crumbling under the mortgage.
If you have a good skill job or if you studied in a meaningful/useful field you should be fine.
I am wondering where is this great country that he is talking about . I live in totally different Canada.
im canadian and i totally agree
Canada wouldn't have such a slow population growth is a tiny small house wasn't around 2 million dollars. If you can't even afford to survive why would you want to bring a life into this world so they can suffer. Canada needs to have better wage regulations to keep the middle class going. I also say this as someone that makes nearly 3 times the average wage and still can't afford a house.
I wanna come to Canada but this really scares me man
Regular people are already priced out of Toronto and Vancouver
All Thanks to the unregulated spending by our prime minister trudeau and equally weak and incompetent opposition , ive always voted liberal since i came to this country but not anymore unless they change their policies and do something about housing prices , hate "CONS" so the only option left for people like me is N.D.P 🤷🏻♂️
Sadly, this isn't exclusive to Canada, even in poorer countries young people struggle to buy affordable houses in their own countries.
Honestly I'd look at the USA if I were you. A house here in Canada on average will cost you double what you would pay in the US. And the wages a much lower too. Canada is just an expensive resort place to spend some vacation in. Definitely not live here imo. Saying this as a Canadian.
Lol 🙄 please please! Don’t trust this lies I live in Canada only the government is rich, but people are very poor they don’t even have their own house they live in a rent and mortgages and suffering with depression and stress don’t let this kind of videos fool you.
Absolutely right!
One of the most resource rich nations, though very poor management - from a Canadian
Exactly. There is no reason for the vast difference in wealth. Canada is blessed so the homelessness, the horrible problems that are happening to a majority of Canadians is not necessary. There is enough for all.
I am a Chinese international student, i have been studying in Canada for 7 years.
Compared with the United States, Canadian society is more tolerant of immigrants, there is less racial discrimination, and people are very friendly and kind.
Love Canada from China, I really miss the time when I lived in Canada.
We dont love you as much when you take our people hostages (the two Michaels)
@@pololedodo7981 Jesus Christ, bud. Take her down a few hundred notches there.
Well in the 90s, Richmond was avoided and the main road was known as the Ho Chi Minh Trail, do to new drivers and the need to avoid the booby traps, that has changed and those comments are never heard anymore.
@@pololedodo7981 so you are blaming him? You're a joke 😒
@@pololedodo7981 what does she have to do with what her government does ? Should we be blaming you for Canada’s many residential school massacre’s too?
Thank you Canada for being so welcoming to immigrants. Its my 6th year now and I came here as a student when I was 18. I have lived in all three major cities in Canada, I started in Toronto and spent 4 years in Montreal studying French, 6 months in PEI and ended up living in Vancouver). I'm a motocycle enthusiast and I visited so many incredible places like from west Windsor/Detroit US border to the east where you can see the most spectacular water dam in Quebec Canada. I drove my car across Canada this summer. (Quebec Ontario Manitoba Saskatchewan Alberta and finally the beautiful British Columbia) Thank you again for such an amazing life experience. It's been a great honor.❤
Awesome man!!!! 🇨🇦
Awesome story! Where are you from? I'm currently an international student myself in Toronto
I hope u like beautiful BC tho hope u like rain especially in the lower mainland
We've got enough of your kind here. Time to return home, bud.
Welcome to raincouver! where instead of snow you get rain (Fun fact: we had a Tornado watch issued today as of this posting)
Coming from a developing country myself and migrating to Canada, I could see the big difference a developed country like Canada runs its system more efficiently. Yeah taxes are high here but you could clearly see the difference in terms of how the government serves its people through social services and infrastructure.
Haha I know your from hopeless Philippines, where self-serving politicians are more atuned to elitism and privilege. Economic developments we have here are only urban sprawls and nothing else. No real social or structural improvements. A city is said to be doing good simply because it now has bigger population, period!
@@mountainous_port I really feel like the Internet is filled with filipinos complaining about their country. Well, at least you do have internet.
@@mountainous_port Lol. Most first world comment I've ever seen
You forgot to say sorry
@@mountainous_port accurate
In america if you think you might have a broken arm you avoid going to the hospital because you might be charged $60,000
In canada you might avoid going to the hospital because you'll be sitting in a waiting room for 16+ hours just to be triaged.
11:59 Tourism struggles for a a few reasons, but one reason that is seldom mentioned is the vast distances. People who come as tourists do not have time to travel to more than one or two interesting destinations. The travel time to go to many sites is prohibitive. This is exacerbated by the great lack of mass transit outside of large urban areas. No high speed continental trains for instance.
High speed trains like in Japan or Europe would be pointless in Canada. The tourism season is too short and the consumer base is too small. It will be extremely expensive to build and maintain such a system anyway.
@@timedone8502 Good point. I had not thought of it that way.
If they gave you lemon, make lemonade! People should come and visit one city or region at a time, then come back again …..develop some travel products or concept that attract visitors to come back a second time, just like Europe! Sell the region, not the country.
The U.S. is a much better tourist deal with way more choices and better weather… There is no competition here.
Nobody is going to pay thousands of dollars and travel thousands of miles to freeze their asses off
100 dollar bills do smell of maple. Depends on how new it tho.
The government once printed a few of those bills, but it is not the case anymore.
all do
you are wrong
@@chip4792 they all do it’s just that the 100 gets circulated less than the smaller bills like the 20’s and the 10’s
No, they don't. It's in your head.
So rich??! I must be living in some other Canada.
"Having a good welfare system does not make a country Socialist".
That's a (very) simple point many Americans (USA) have a hard time wrapping their mind around.
*Republican Americans. Everyone else understands
Good reply. Americans can seldom wrap their "minds" around anything which isn't home grown. Pity, they used to lead the world with progresssive ideas from which we all benefitted. Now it's neo-fascist shambles, similar to many African dictatorships. So what if a country chooses socialst programs anyway? Does the sky fall? What childishness!
they have a hard time wrapping there minds around alot of things.
@@robertscott537 I disagree with that comment to some degree. The US under Biden is leading the world with a Global tax rate against huge corporations to end or limit tax havens. So there are still some progressive ideas. I would also argue that social programs are quite popular here and have much support. For example, the latest American Families Plan that is said to be passed with the infrastructure bill has majority public support. It is said to be the largest expansion in the US social safety net in 50 years. I think the only people who are against social programs are the republicans. They are the ones to quickly label things as socialist or communist. Why listen to them, when they are not even in power?
@@chrisb9996 The largest expansion of the social safety net just in time for Biden to grant amnesty and citizenship to all the illegals in the US before the next election, all but guaranteeing they vote Democrat? Talk about buying votes with other peoples money
No doubt Canada is one of the best country but it could easily become the best country of the world. It lacks great leadership.
Once again, another person that can THINK. Not too many of those in Canada. Don't you love those TH-cam videos that claim Canada is the best country in the world. The question is, I wonder in what other countries he has lived in to make a silly statement like that. Of course, if you came from some banana republic as a refugee to Canada, it would be the greatest. By the way, I was born here and I can say that because I am not blind and have travelled the world.
@@achristian7015 then why are you still in Canada?
@@mjor6406 Born here, how about you?
@@achristian7015 born and raised in Alberta. Then why are you still here if you think other countries are better?
@@mjor6406 Well for starters and if you think it is so easy, can you get me Australian or New Zealand citizenship? I am not so brain dead to think everything is so much better in Canada like many of those really dumb TH-cam videos claim. You realize one of them even stated that we produce more maple syrup than anyone else. Wow, what an effing claim to fame. We produce nothing in this country. Everytime I want something, I either have to pay overpriced Canadian pricing due to an extra middleman or slip over to the US and buy it there for a lot less.
Live in Canada... Dad had to have his thyroid removed, go on meds then have a diseased heart-valve removed all within 6 months... cost him nothing except the TV we kept buying for him ($30 a day is a lot man...) while he recovered in hospital. Brother had a completely shattered ankle, needed several specialists to piece it back together, 20 steel rods, 6 months of pain and agony and it cost $400 for some nice comfy crutches. If for nothing else, I love this country for that. I, thankfully, have not needed it's help nearly as much but I am infinitely grateful that if something happens, it will not be the financial ruin of me, regardless of my income.
What shocked me is how much it costs for those _not_ covered by our healthcare system.
I had a roommate who was an international student who's health insurance hadn't kicked in yet. He slipped on an apple and broke his ankle. He had a bunch of X-Rays done, had a cast made, and got a set of crutches. Including the ER visit in the middle of the night, the cost to him was... $1,500. The crutches were only $40.
I'm very curious to know how much a similar visit would have cost in the US...
@@romeomontana238 I have never had any major health issues but if I do... glad to be in Canada, are you implying you would rather be in the US, pay taxes *and* hope your work has good insurance or get your own?
@@romeomontana238 I... Reverse engineered your taxes and if you are paying $3200 in Federal taxes.. you are making around 180k a year.. Otherwise if you are paying a combined $3200 in federal and provincial taxes you are earning about $125k a year. So.... you have my sympathies? All this is pending you live in Ontario of course.
@@romeomontana238 yeah... I'm not 100% sure you know how much taxes you pay.
@@romeomontana238 how conceited do you have to be to make a good story about people getting medical help, not having to go bankrupt because of a decent medical system and then make it about you? And more specifically a complaint about how much taxes you have to pay. Please, find another country, Canada doesn't need your type.
Canada rich ? I don't think so. I have worked all my life here and find that now I can't even PAY attention. Thanks to the Liberal government.
Canada like a government is so rich,but 90% of population renting houses and living paycheck to paycheck
SHORT STORY
Has been living 5 years in Vancouver, now planning to move to the US due to high prices for living. Simple house costs around 1.5M $ which makes it impossible to buy for single household with the income of 100k.
if you move outside Vancover into a smaller city you can find decent prices. Downtown will always be overpriced.
If you want cheap living costs, then you're gonna have to move to the prairies. It's way cheaper especially with less tax in Alberta
Go to Montreal!
come on up to the interior... kamloops and kelowna are expensive but you can buy a decent house in the smaller towns for around 200k
Yeah medical bills and education is gonna be wayyyyyyyy more expensive in USA. Good luck bud
As a Canadian who thinks we have a long way to go if we want to live up to being everyone's favorite country... it's really weird seeing people praise us for doing the bare minimum 😅If we're the nice country, it sometimes scares me to think of what it's really like elsewhere. I keep up with international affairs, but haven't ever actually left Canada, and I really feel like we don't live up to all of our positive stereotypes. We do all live in igloos though!
I agree, it is weird. But canada is a country that celebrates mediocracy.
I 100% agree, with how much oil, lumber and other natural resources combined with how many immigrants are coming here I would think we should have a lot more money. In Vancouver the cost of living is so high it really doesn't matter if you make 100k a year if it costs 100k a year to live.
I think a lot of our problems are how much we discount the US. Vancouver is one of the largest places to film in NA, for a little bit during Covid is was the most filmed place in NA. The reason is Canada gives the film studios a lot of tax breaks to film around here. The question is why are Americans getting huge tax breaks instead of the US? Not to mention so many other resources we cheaply share with the US.
It really comes down to Canada has no ambition to either sell what we have for better cost, or come up with something that is worth a higher cost that would boost the economy.
@@ML-ov7wo
How do you figure we celebrate mediocrity?
We're the best. (Haha.)
One of the reason is that you haven't experienced the worse countries. In my home country, any bigger disease / visiting to ICU could make your whole family be bankrupt; You would pay similar tax rates, but get nothing from government; You may be bullied by local wealthy people but no way to protect your family; You may be not able to study in University since someone hijack your accepting letter; You are not allowed to use TH-cam/Google... Too many to list. Overall, no country is 100% excellent, but Canada is close to the excellent one.
I find Europeans and East Asians to be much kinder than Canadians from personal experience as a Canadian who enjoys travelling. Canadians keep to themselves in cliques where they feel safe surrounded by friends, while the other groups I mentioned are welcoming and curious with foreigners. I think the narrative of Canada as the fav country is based on outdated stereotypes from folks like Bob and Doug Mackenzie. The only difference between a Canadian and American is the American will actually say what they're thinking.
Sorry
interesting overview of Canada's Economy. Wondering if you will do another video about the future of Canada's Economy in this rapidly changing world where the balance of power is shifting and perhaps our neighbour to the south is losing it's position as Top Dog.
And what's that supposed to mean? The USA can't lose its top spot for another 20-30 years or so. What makes you think that will change Canada?
@@uchennanwogu2142 Lets shorten that to 5-10 years :)
@@uchennanwogu2142 Just wait. China will slime its way in there
We're already starting to see the effects of this. Canada is increasingly moving towards multipolar trade deals, whether it be with Pacific countries through the PRFTA or with Atlantic entities like the EU and UK through EUFTA and CANZUK. I think the big Cheetoh really drove home to the federal government how much our country is vulnerable to American strong-arming when he used tariffs and trade shutdowns to force through USMCA and shredded NAFTA.
@@uchennanwogu2142 As the U.S. loses power. Canada takes its economic interests elsewhere. IE international trade deals and businesses of non American origin.
It's a natural thing that has happened countless times before to many countries through out history. Canada will take its investment and trade elsewhere to ensure continued economic growth.
Being born as a Canadian and living here my whole life, ive hardly ever heard someone say “eh”
it's more an eastern canadian thing eh
@@The_Bear21 born, raised and still living in eastern canada (which would be 44 years 😁), i've never heard anyone say "eh" ... lol! i have no idea where it comes from ... i remember little sketches that rick moranis and another comedian used to do in the 80s or 90s, a sort of parody comedy bit, and they were constantly saying "eh" with a very exaggerated accent, which sort of stuck, and the characters they were portraying were from edmonton - i don't even think albertans talk like that (i wouldn't know, i've never been), but i honestly think it's a totally stereotypical thing about canada that's just made up 😅
@@nicoleraymonde my family is mostly from Newfieland so I hear the Eh/Aye alot lol
@@nicoleraymonde “take off eh, you hoser.” Bob and Doug McKenzie
I heard it in British Columbia and I'm American
I haven't sniffed a 100 dollar bill in a while, but I remember when we first minted our new polymer bills they definitely did have a sweet maple aroma. Though I don't find any of the smaller denominations share the same sweet sent as the $100 do.
Yes an if you get a fresh bill from the bank you'll feel good
So you haven’t sniffed $100 bill eh? Good for you ! Have you ever sniffed a hockey player’s underwear? Do you know what a igloo full of unwashed Inuit smell like after they have been in there for eight months?
Make some more bullshit up!
@@Hezzey
Ahh you got me! I sniff fat stacks of those sweet maply $100 bills at least twice a day, once while riding my moose to work at Tim Hortons and also when I'm rubbing one out to that picture of Justin Trudeau hanging on my wall, I cant believe you saw through my deceitful lies 😂
20$ is the best one 🤔
@@anaa9245 don't you just love the smell of Canadian money❤❤❤
As an American living in Canada (Québec), je suis heureux d'être ici (I'm happy to be here). 🇨🇦🇺🇸
Being a "service economy" just means that you exploit cheap foreign labour to produce for you. Somebody has to produce the goods you use.
Cheap labor isn't necessary exploitive labor especially when the difference is via exchange rates.
@@bevvy.bee9 Why do you think western manufacturing moved over seas? It's because companies could get away with paying Chinese and Indian workers less then American workers. This is true regardless of which currency you use.
@@GreenGiant400 yeah but that's what happens when wages increase, they move manufacturing oversees where wages are low. People in developed nations then move to service based industries that usually require you to be educated
@@bevvy.bee9 Average wages haven't increased since the 70s (accounting for inflation). Jobs left not because of increased wages but because of an increasingly globalized market which has fewer restrictions on it, as well as the industrial development of countries like China. It's an arrangement that has worked out well for the west since they can take advantage of hyper exploited labour to make cheap products without fear of the political backlash that would come from your own population if they were that exploited.
If the West would take back the entirety of its industries the 2nd and 3rd world would go into crisis as well as countries like South Korea.The devellopment that happened in Asia and Africa is mainly due to trade with the West.
As a Canadian myself, I enjoyed this video. Sorry eh 😂
Thank you 🙏
Oye kivve aa senghhh
Hanjii kidda?
@@hargunsenghsidhu tu kithe rehna ya? Canadian eh?
@@hargun.singhh Bhaji mai Mohali, Panjab rehnda hn
Thanks. Great video. High cost of living means often both parents work and spend longer time in education to earn more. This combined with high child care costs solves the mistery of low birth rates. Even with socialised health care and education, parents in many regions simply can't afford to feed and house big families.
To add having an older work force that doesn't retire means younger adults that go into any field get stuck at lower wages because theres no upward momentum in any job. Most people max out their wage at 3-5 years at a company and are stuck till someone retires. Making the income for a young adult house hold less, making it harder to buy a house have a family ect. that older generations already have and just sitting back on what they make. Every job I've had or friends in the last 12 years, upper positions are people from 40-65 and anyone working there from 20-30 are stuck and usually end up leaving. Young adults don't like working at a place where it seems they will have to work there for the next 25 years just to get into a position of upper management. Thats a mortgage length of time that they wont even be able to afford a mortgage.
All part of the plan
BECAUSE OUR CENTRAL GOVERNMENT IS BRAIN DEAD.
As a farmer in anada, I would like to say that climate change, has in my lifetime alone, shown to help us but long term will screw everyone. We plant corn with a 20% yield compared to what was being planted here 20 years ago. Heck, 25 years ago Soybeans in our area we're unheard of but are grown plentiful here.
More info on this please?!
You're a farmer? really? And you're crying about climate change? 🤦♂
@@ML-ov7wo why not? It is official that climate change will also affect food production, particularly in the tropical areas.
Unaffordable Country :'( even with 100k its impossible to live here.
Good thing for the world. Canada's forests are needed for climate control and oxygen production. High cost of living is the only reason the world has any nature left.
With an income of $100K you may have a struggle in Toronto or Vancouver, but if you can't manage anywhere else in Canada, you probably not managing your money at all.
I live here with 30k, just not in those ugly cities.
MOVE OUT OF THE CITY! Cost of living is 5-25% less in rural Canada.
@@robertross7666 The cost of real estate outside of major Canadian cities is considerably lower, but also on the rise. If your living in rural areas, but working in the city, most of the financial benefits of living rural will be lost to the cost of gas, vehicle maintenance, insurance and your valuable commute time.
As an international student in Canada, I agree. Studying here in Canada is not cheap, and it comes with lots of restrictions and penalties, but unlike the USA, there's a pathway towards residency after graduation which makes all the investment and hassle of studying abroad worth it.
Studying in Canada is cheap for people who have Canadian nationality. I'm a french Quebecer and university cost like 10 to 20 times less than in the US because government just pay for it.
There is a pathway to citizenship through a student visa in the US. Not true
@@noahremnek3615 there is but it often takes 10-15 or more years bruh
Residency is that magic word. It makes everything look beautiful. While in reality, its too late once you realize it
@benimar thats a poor country third world country mindset
Sorry, eh
No, the Canadian 100 dollars does not smell like maple syrup
No the recently minted ones definitely do. The little maple leaf transparent dot on the left side of of the bill- if you scratch it it does smell like a hint of maple syrup. If you get the 100s that have been circulating around Toronto’s financial district they’re more likely to smell like blow though
Canada is heavily in debt, older population, low birth rate, higher devoice rate, and low paying jobs. I am sure this will not bite Canada in the ass in the future/present.
Its less in debt than USA... Let that sink in for a moment.
I already want to leave this country but, everything else is going down the same route.
@@jeromemartel3916 yeah but the USA has a economy way larger than Canada
We went through worse, skulay.What will bite us in the ass is the mass migration and the conflicts that will appear as the population will be separated into tribes fighting each other like in the U.S.A.
Yup, most jobs are minimum wage and most jobs are low hours. I know personally many who went to Uni and ended up working a low paying job, simply because they couldn't find a job doing what they went for. It doesn't help any that education is still extremely expensive, which is going to bite our economy in the ass in the near future when more and more jobs are going to be needing advanced skills, not being able to afford those skills is going to push our welfare system to a breaking point.
Rich? The one thing I’m certain about Canada is that Canada is poor af. Everything here is more expensive. The country seems to be underdeveloped a lot compared with other developed countries like European Union or Japan. Taxes is really high yet I never seem the government put it into good use to develop something. Interest rate is extremely high nowadays and the inflation is just a joke. A lot of Canadian r lazy, and they tended to be more liberal mind which means they try to wait everything from the government. And the government keeps give free money to those who do not want to work. Therefore they never actually have the money to build any infrastructure or everything whatsoever.
Canada tries to maintain an image of wealth, but truth is, we have way more debt than money.
Our debt appears high because of mortgages, which is probably the most forgivable type of debt one can take on.
This is absolute truth.
"Canada needs to invest in its people - not by showering more social benefits over them, but by promoting a culture of entrepreneurial mindsets and innovation." Speaking as a born and bred Canadian, we don't suffer from a lack of entrepreneurial spirit. What's happening is that we don't have enough discretionary income, therefore, we're risk-averse. Cost of living has increased faster than wages, especially when it comes to housing, both home ownership and rent. Living in areas that well away from Toronto/Vancouver does create more discretionary income, but prices are increasing everywhere at this point.
So long as you're being frugal, you can still save a fair amount, yet saving is undeniably a slower process these days when over half of your annual salary goes to basic needs. Considering the first bulk of savings goes to emergency funds and a future down payments, saving up for anything else happens later in life.
Great point. Big enough discretionary income does not necessarily encourage entrepreneurship. I think it is more of a cultural and a mind set thing. I think the government needs to do more in terms of incentives and programs to encourage and support innovative ventures that will grow the economy. But then again, with good social and health benefits, why would her citizens move a muscle. It is not just peculiar to Canada, it it a human tendency.
Risk averse can be a good thing. USA always reaching for the moon, even if Artemis does the national anthem.
This is something I completely agree on an have argued in the past, but I think you have said it better. There are a lot of resources that I think we could make more on, but discount to the states for very cheap, which is somewhat okay because we rely off them as much as or more than they rely off us. However one thing we don't have that the US does is that ambition to just make money and drive an economy. Most people here don't care about being Mark Cuban or whatever rich person from the US, they just want to work a decent salary and take care of their family.
There's nothing wrong with taking care of your family, but if we encouraged ambition more, or just had more of it I think we could have such a great economy.
Personally one thing I would do is lower the funding we give to welfare and decrease the cost of schooling for Canadians. Welfare in some cases will pay for school, but if you aren't on welfare your stuck racking up debt which to me seems unfair and imbalanced. Why does someone who gets part of their rent paid and monthly subsidies get school subsidized while other low income people are left to get a loan and be in debt after school. Welfare is a horrible system in it's current state anyways. It's short term help, every month people need another check to survive off welfare.
Investing in cheaper schooling is long term help. After graduating you can get a job and aren't dependent on the government. Public colleges aren't too bad, but big Universities and private schools are still very daunting and could use some work. Even just creating a system where no scholarship gets left unrewarded would really help, since so many scholarships never even get used.
Yeah that last part seemed very ideological to me too. We have plenty of entrepreneurs, believe me.
What we instead need is to get our cost of living under control. You want to encourage entrepreneurship and more effective investment? Let's try to make it cheaper to actually live in the major cities!
However, that sort of issue can only be solved by diligent nationwide urban planning. For example, we need to encourage people to move more to cities outside just Toronto, Montreal and Vancouver. Provinces and feds should do more to make these other cities just as big and fun. If the population is more spread out, you'll see costs naturally become more reasonable.
Couldn't have put it better myself, that final word segment left me with the exact same sentiment. If people are learning from this video, this comment has to be at the top.
As a Canadian I can say the people are amazing, the geography is amazing, and I can't say what I think about the government because *Comment removed by Canadian Government/Commentaire supprimé par Government du Canada*
The thing said about immigration working harder is not true, as per government stats, 92%of the Syrian immigrants that came into Canada are still on welfare
It’s worth mention the banking system that is solid and stable to properly service the public and businesses
How to get mortgages?
To bad the same doesn't go for the government. They are following the Marxist play book
You know bankrupt the country, destroy the middle class. We are more than a trillion in debt. We do not have a healthy economy. Where have you been hiding?
@@keithharley9729 Is the USA much different?
@@keithharley9729 Trudeau will not be PM forever. Without a doubt the most clueless PM in Canadian history, but not the worst.
@@fwcolb he could be forever though lmao all this censorship and bill c-10 is gonna turn everyone liberal there isn’t 4 year terms like USA Trudeau could literally be prime minister until he dies and his recent re-election he literally lost to conservative in popular vote by 200 000 people, he only won because of the seats like literally 52% of Canadians votes go unheard
The Sooner Canada Joins The "CANZUK " trade agreement So Much The Better..
12:21 Bilingual problem costs 2.4 billion
Me from India : (coughs)
😆
Imagine writing 25+ languages on the board 😁
one idea, tout en français une année, all in English the next, and so on
@@jonatanbouchard As a primarily english speaking Canadian, Je pense que c'est une bonne idée.
this video is presuming the Justin Trudeau Liberal government makes decisions based on logic
I'm an international student in Hamilton, Ontario and can validate that I love this place and i hope I can make this amazing country with amazing people my home permanently!
You love hamilton? what is so loving about it?
Would you consider yourself a canadian after a few more years living here?
@@OK-ws7ti oh yes I’m still a temporary resident but really happy and proud about how Canada is, would love to be a fellow countryman
And you live in hamilton? wow. those are some serious rose tinted glasses
@@ML-ov7wo everything is rose tinted in Canada for me coming from a country much much underdeveloped from Canada
You got it backwards: The saying is: "When the US sneezes, Canada catches a cold". This refers to the fact that in an economic downturn, we get hit harder than the US.
while that may be the saying, it's not necessarily true. For example Canada faired MUCH better than the US during The Great Recession. Not a single bank defaulted in the country, unlike the UK or US
And it was the same thing during the 2008 subprime crisis
I don’t think that is the case anymore. The Canadian economy is not so dependent on the U.S and we have much better banking laws and regulations.
@@patrickbajorek5500 thats because we had a good financial minister at the time who almost completely stopped the problem from manifesting. But now all the regulations have been removed by the Trudeau government, so were back in square one
That's why I keep a close eye on what's happening in the states even though I'm Canadian. Both our countries are intertwined. If anything big/significant happens to them, will definitely affect us
I heard that Canada's income is only half of the United States', and it's very difficult to find a job. I also heard that immigration is a scam. I don't know if Canadian friends can tell me the real situation. I plan to immigrate to the United States, Canada or Australia in the future, but it's hard to distinguish between Canada and Australia.
It is not a scam. but would be the last one to choose among U C and A. People are very unprofessional due to people who want to work going to the US and the employment insurance system and probably the cold and dark climate makes people less warm-hearted and positive. I have been there 3 years and also lived in Au for more than 3 years. It is just painful to deal with any industry from government agencies to banks. It is difficult to solve a problem and everything took for ages, many things you think just a mouse click or hours could take weeks and months, which is not an abnormal situation but is actually their service standard.
Yes new 100 dollar bills here smell like maple syrup, blew my mind the first time I discovered that that's not just a myth
Which denomination smells like reefer?
The Bank of Canada has said before that they do not add any odor to the bills. I've have tried large stacks of any denomination and they all have that feint smell of maple. Maybe it is the smell of the plastic is just similar to maple?
Well they wash the bills now.... so it could explain that.
@@Azsunes I'm fairly certain the smell of a "new bill" is simple the smell of the plastic
@@jonathanday5610 I can confirm that our bills do not actually smell like maple syrup and that they just smell like plastic.
You don’t live in Canada, so I don’t think your video is highly accurate but it’s hell working for the economy of Canada.
Why does not living in Canada mean his video isn't accurate?
@@adeshkantha7034 Because looking in from the outside is never the same as being on the inside.
@@killman369547 You are right! Video is not 100% accurate. I'm bord in Canada and live in Canada.(from Quebec so sorry for my english) I think maybe video "cut round the corner" and go to the "Trudeau image of Canada" and stereotypes. The video does not tell lies but does not tell all. Canada look good from outside but have a lot of problems in the inside.
An immigrant from Europe said that in Canada you have to work for every single penny. for the majority of people, most jobs are grossly undervalued here.
I know it's highly unlikely but could you make a video about Hungary? That place is in a wierd limbo, people either can't tell where it is or they have been there and loved it. As far as I can tell, economy channels tend to avoid hungary due to fishy statistics (Like in russia or belarus)
the Raven will fly over Hungary soon!
Interesting, one of those countries you rarely hear about. What other country is overall standard of life in Hungary comparable to?
@@zeeshandogar9406 I'd say similar to Poland, although Poland has been gaining better economic progress than Hungary.
I am from Hungary but live in Canada now...the last 10 years economically is a breakthrough...so much more diversified than before...
@@richardnemeth5911 Poland is at a different scale due to population size and geographic location including having a seashore...it is in a easier position to get it developed....
You have smoked something too strong to say >
im canadian and i actually had no idea considering i live in a city with over a million people and it feels like a good half of the people are poverty stricken
Justinflation
@@myHandle8374 our prime minister is 100% not the cause of this lol. He has had great economic policies.
We have had a housing issue for the last 20 years. So blaming this on Justin doesn't even make sense. Especially when the entire world is going through a lot of inflation for the war and other causes. Actually when the conservative government was in power was when this started if you want to get into this.
It's nice if we could blame one man on our problems. But the reality is it's not. A modern economy is complicated.
everyone is poverty striken, the rich ones just manage their debt much better.
Canada reminds me of that nice big house you drive by and think " man they must be rich". But then you find out that they are just in an insane amount of debt.
We used to be doing well. Out Debt started getting out of control in 2016.
@@rapsidie4073 our debt isn’t out of control we’re doing fine go learn some economics
Canadas debt is not out of control we actually have a debt advantage on most the developed world
@micheal murphy You're a bit of a dim bulb eh Mikey?
Canada is known for having a really stable banking system with strict regulations.
Maybe this risk aversion is why we have an entrepreneurial short-fall though.
Sorry about that, ey
The entrepreneurial shortfall is a result of the real estate industry dominating the GDP. Canada's economy is propped up on mortgage debt.
good welfare is why canadians are not entrepreneurial. Innovative countries like US and China have poor welfare system..
@@resonate9815 you know there are very cheap housing for welfare people?
that checks out, but you’ll never hear a canadian say ‘ey’ but rather ‘eh’
@@resonate9815 my god this is the dumbest this ive ever heard....
Canada is rich in homelessness, poverty, lack of traditional morals and values. Super duper rich. Cheers. 😀😀
What traditional morals and values do Canadians lack?
Canadians are addicted to debt. They live a life that they cannot afford. 53% of Canadian are just $200 away from bankruptcy. Housing driven debt is the primary driver of this illusive prosperity.
8:32 You got that statement reversed. When USA sneezes Canada get a cold (or as some say pneumonia).
@S I have always heard the proverb stated: "The USA sneezes and Canada gets a cold." Which makes more sense, than the way you describe it.
I came to Canada from China; When I was child, I don't enough food; I had to walk almost 5 hours to high school one way trip, and brought pickles to school because couldn't afford meals. Now in Canada I have a 3000 ft^2 house and investment properties. So grateful for everything I have.
Why making up stories like they are real lol
@@wconlinewcwc What makes you think that? Do you stalk this man?
Do you actually do anything positive for the community or just TAKE TAKE TAKE from them like the vast majority of other successful people in Canada? All I hear is the typical "Grew up or moved here back in the good o'l days made a bunch of money bought a bunch of AFFORDABLE rental property and now Instead of doing anything positive for for my community I simply charge them twice as much for rent....Genius!" And now you all see why young people are in the situation we are in... Greedy scumbags
K D All good questions. Founder of Barrick, the biggest gold producer in the world, he starved at home country and shocked at how much food on table after came to Canada when he was a child. He worked very hard all his life and donated a lot of his fortunes to charity. Good role model.
pickles are good
For the healthcare in Canada; I never really needed to go the hospital my whole life. Then one time 3-4 years ago I needed a massive surgery that would have put me back 250k canadian. I know because it was literally written on the walls of the hospital how much the fees would be if I did not have my health card. All to say, maybe Canadian health care is not the best but, it sure as hell saved my life and my wallet. For that i’m eternally grateful. Go Canada!🎉🇨🇦
Okay I got a free surgery from being hit be a car and the retards used a massive screw for my ankle...okay like a third the size of that and the surgery was only 1200
@@adaptercrash many health care professionals in the whole system and some better than others that’s for sure. Sorry to hear your surgery didn’t go as well as it could have.
@@alexyoung2104 they bad man my stepsister had a terrible surgery I been to school and their pre med bachelor is a joke compared to mine they ain't academic I've had one good experience with a stomach infection where they actually did a good job but man you still pay for the anti biotic and know you need them its just a testing process to get prescription that's if you can get past triage honestly I had to go to Walmart clinic for that and the hospital just didn't care I can't even follow up on being ran over go to the clinic it's all retards with kids who will be fine in a few days i as sick all the time as a kid and went there twice cause of bacterial inflammation and pink eye
Canada is capital rich! While standing on demographic a cliff! 🤣
good one
Correction, our healthcare system is terrible . You wait months to years for operations . Many can't get a family doctor . System is broken for the demographic reasons stated earlier in your video .
seems normal for virtually any country with effectively free healthcare.
Anything "free" is seen as amazing. If they had to pay for the value of the services they received, Canadians would have a much different tone. You have to advocate for your own health and push against the healthcare system to be taken care of properly. Those who can't see that are probobly just happy to mooch.
I’ve been an International student here for 2 years and working here for 1 year now. Undoubtedly it’s the best country on this planet. Warm welcoming people, amazing places to visit and most importantly respectful in every terms. Canada you have my heart ❤️ God bless Canada 🇨🇦
Definitely when you have migrated population and even less population, Humans will be polite and less stressed
indian guy?
@@lsudo racist
@@Ashhhh688 which university did u go to and what do u do?
@@Ashhhh688 how is that Racist???
This is the first time outside of Canadian political economy books that I've seen someone mention the staples thesis and its impact on Canada's economy, politics, and civil society. I don't think most Canadians have ever even heard of (arguably) the most significant guiding idea in this country!
Learned innisian theory in my university course. Super surprised to hear it again.
Another thing that should have been mentioned in the segment "Canada is an Energy Superpower" is that we are also a major producer electricity. Per capita, we're some of the biggest producers and consumers of energy. A very large portion of primary aluminum transformation on the north American continent happens in Quebec because of just how cheap and readily available electricity is. Just as there are oil pipelines to the US, there are also a number of electrical interconnections. We've still got massive untapped electrical generation potential. Given the right conditions, we could be a major partner in decarbonising the US. This is something that provincial governments are rather keen on.
We pay the usa to take some of our power when we overproduce and storage is full.
We need better leaders to make us our own rich country rather than piggy back the us
@@aboudhh I don't think you really understand how the power grid actually works. There are many reasons why most interconnections are between Canada and the US.
#1 Distances are shorter between Canadian and US cities than between Canadian cities. There is quite literally 1500 kms of nothing in northern Ontario. It is much easier to connect to the US grid.
#2 Our grid are perfect negatives of each other. The US need more power during summer, and we need more power during winter. While we mostly export power, we actually import a small quantity during the coldest days of the year.
#3 We actually make a lot of money selling electricity. We're talking billions per year. On a provincial budget, that makes a big difference.
8:32 I think you got that wrong. When America sneezes, Canada catches a cold. Canada is way more dependent on exports to the US than what people think. Canada would be ' dead ' if the US shut down imports from north of the border. Millions of Canadians would find themselves unemployed almost overnight if that were to happen.
Your claims aren't based in reality. If the U.S. shit the northern border Canada would just transfer its economic requirements to China and Europe. The U.S. is incapable of hurting Canada because we have good leverage over them.
During the trump administration we threatened tariffs at targeted states that would ruin Trumps chances at reelection. Trump backed off and got rid of multiple tariffs as a result.
Canada has unique economic pull against the united states. If Canada shut the border down. 15 states that rely on trade with Canada would completely collapse. Triggering civil war in the U.S. and cause destruction.
Canada is an expensive place to live if you choose Ontario or BC. Move to Alberta or Saskatchewan, everything is incredibly cheap.
Um, you are wrong about Canada, 100% wrong.
The thumbnail should be-
Why Canada can't be so Rich
Very true. Just a tax and debt slave country. Waiting for next immigrant to take on the huge debts to keep the ponzi scheme going on.
@@rkt81 Is it really like that over there? I was contemplating emigrating to Canada
@@rkt81 this comment needs more thumbs up lol, we should really be increasing the quality of the current Canadians rather than trying to keep on bringing in more people. Eventually, we will reach capacity on earth. Also, because of the high taxes, cost of living and relatively low wages, it becomes very difficult to actually live and not just survive for the lowest earners.
Good one. Someone has a brain
Check back in fifty years. The best years were behind us and now slipping into " under developed" country status. A third of the population is creating the " taken for granted" wealth. That percenrage is getting smaller and transformation into a nanny state is the current situation.
A great place to live, once you're happy living with freezing Arctic weather for 6 months of the year!
The healthcare system is not functioning as intended. A year out from this video we're seeing emergency room closures. Our units have been understaffed for years, and I don't even want to think about the long term care facilities.
"Canada's publicly funded health care system works well for most people"
I found it works wonderfully until you actually need it.
@DragonHeero Many clinics that have access to xrays can deal with broken limbs but sorry that aneurisms, car crashes and heart attacks take precedence over your broken limb. Poor you.
@DragonHeero I live in Montreal.
@DragonHeero Healthcare in this country is a provincial jurisdiction so if it sucks in your province, elect better people. Also, patients have to be better advocates for themselves and not expect miracles, doctors are doctors, not magicians. More than half of the issues seen at a hospital are lifestyle related.
@DragonHeero Here in Quebec we have a drug plan created by the provincial government that we are all forced to pay in to every year. Again, a lot of these things are provincial problems. As for wait times, our population is aging and the vast majority of us dont take care of ourselves, so how much do you want the government spending on healthcare? How much higher should your taxes go?
@@susiex6669 "Here in Quebec we have a drug plan created by the provincial government that we are all forced to pay in to every year. Again, a lot of these things are provincial problems. As for wait times, our population is aging and the vast majority of us dont take care of ourselves, so how much do you want the government spending on healthcare? How much higher should your taxes go?"
There is significant room for improvement. I think a big part of the problem in Canada is we spend all our time comparing ourselves to the Americans and then patting ourselves on the back. Thing is we ought to be comparing ourselves to the Europeans who use systems that are ultimately much more similar to our own. When we do that we find that we really don't do socialized healthcare all that well compared to our peers and really we should be trying to figure out what we can learn from countries like France that deliver socialized healthcare that is arguably the best in the world much more quickly then we do.
Basically I think our problem is we are caught in a false dichotomy of either we have the Canadian Healthcare System or the American one and that does not need to be the only two options. I am not even saying we need to dismantle the Canadian System... just recognize that there really is room for improvement and that such improvement does not necessarily even have to cost whole bunch more. Most of our peers pay roughly the same as we do per capita and get better results.
Haven't had a double double since 2013, can't wait to be back
Canada 🇨🇦; by far my most favorite country in the world 🌎. I literally fell in love with this country back in my high school days in the early 90s; eversince, Canada got stuck in my mind for many years now. The more I see stories about Canada, the more I just want to go to Canada 🇨🇦😫. I have stacks of books 📚 about Canada; travel, economy and politics that I have been reading for many years. I love Canada! 🇨🇦♥
C'mon over. You will be welcome with open arms.
Immigrants are more welcome by our dictator PM than Canadians who were born and raised here.
Read pierre burtons books on of the most prolific canadian authors
You should come back!
Yeah going through highschool during the early 90s is basically heaven. My prom and graduation got canceled lmao
I'm not sure you even mentioned one of the best benefits of living in Canada, in my opinion anyways......it's safety which translates too very low violent crime and gun deaths. I have lived in a Capital City of Victoria all my entire life of 49 years and I can say I have never heard a gunshot or know someone who's been shot or murdered, etc. and have seen a gun drawn twice both by Police and I've had at least 25 interactions with Police so as you can see our Police are not "trigger-happy" or expecting everyone to be armed either. How many other places could you live for 50 years and not hear a gunshot or witness a violent crime? People are friendly here because of this feeling of safety and say hello to strangers passing by at 3:00am.....it's a feeling of safety we really take for granted sometimes but it is one of it's best benefits
Canada is of the Rich, by the Rich and for the Rich!
That's only true in Vancouver and Toronto
So for everyone then?
Well said 🙌
Canada is by the impoverished, for the rich and migrants.
We're only rich geographically and resource wise, we're impoverished culturally and politically. I'm gonna leave ASAP.
Someone lacks perspective
From a US mind-set.
One correction, it’s Chinada, not Canada.
As a Canadian we do not have a strong economy. We have the foundations of a strong economy but our political leaders always find more ways to make sure we struggle harder. It's truly irritating. Whether conservative or liberal. They only have their own in mind. Canada could be the best country in the world very fast if we had a proper government.
Canada has a strong economy period, stop complaining
@@JaysonT975 You are drowning in debt to fuel your fake wealth much like the money printer daddy Trude is in bed with.
High taxes. Taxed twice, federal and provincial taxes
3:09 truth Canadian don't want to listen.
Yes he nailed that one .
Mass migration of the world populations for economic reasons. Another reason why capitalism suck!
@@hagron5702 capitalism sucks but after all it's the best
Hi I’m Canadian the 100$ bill doesn’t smell like maple syrup because it would be a health hazard to have people smell mine and… well let’s be honest it’s just kinda weird.
We can't sustain oil. We need to go green. It's for our own good.
If you think the 38 million people in Canada have any control over what the other 7.9 billion people in the world do, you are grossly deluded. Rake in the oil bucks (at least our production has some controls) and use the income to develop more economically feasible green tech. An economic incentive to improve emissions is the only one that would actually do anything and if we develop and produce it then we get to reap the benefits. If China figures out cheap, clean energy production and viable carbon capture fuels first, then we are instantly third world.
@@jml7916 I don't see how Canada can balance the budget and recover from the pandemic without the revenues from oil production. I wish people would realize that only 20 % of a barrel of oil is burned to create emissions through automobiles, planes, trains, ships and heating homes, commercial spaces and heating applications in manufacturing, such as processing of foods. The other 80 % goes into lubricants, medicines and over 6,000 manufactured products made from plastics and other polymers used in our lives every day. Only a fool would believe that Canadian pipelines won't be necessary in 20 years when vehicles are mostly electric. Canada is a vast landscape, so the opportunities to eliminate fuels from transportation are minimal. Canada is also bloody cold for six months of every year and life simply isn't possible without heat. Replacement of infrastructure and home heating technologies are going to take centuries to replace. Without the profits from our resources, like oil, it will never happen.
in the year of 2100, Canadians will need to be liberated by America b/c we have ‘blue’ gold - aka fresh water.
Last time you tried, the White House was burned down.
2400
@@JB-yb4wn that was years ago
@@thisismarkbro
Not our fault you haven't been back. We must have left an impression on you guys that we didn't want the freedom to own slaves.
silly , we will just invite liberal states to join us after the coup in the US
*"Bilingualism costs Canada 2.4 billion dollars annually."*
What's your alternative? Cutting access to all government services for a third of the population? (Or two thirds, if you get rid of English.)
Bigest reson why it costs so much is because most of the population does not know english and french, most people only know one do to the failure of our education system to teach in ways that are actually shown to work, like by starting second language teaching at a younger age.
@@C1azed Coming from a natively French speaking province, most 30 year-old people and younger are able to understand basic English. I can't say if it's the case for English speaking provinces though (are they even required to learn French as part of the mandatory curriculum in school?).
@@PsychOsmosis Quebec I’m guessing, seems true
@@PsychOsmosis it's mandatory from gr 4 to gr 9 in Toronto at least
@@moresheep4854 Better than nothing I guess. English is mandatory until grade 11 in Quebec (starting somewhere around grade 2-4), at least that's how it was when I was in school. Plus 2 more years if you go to post-secondary education.
In Canada the price of the average condo unit is about 7x the annual household income. We are not really that wealthy, there are few European countries with a worse ratio than this. People will say we are still rich from a global perspective, but think of how far we have fallen in 2 short generations. In the 60s you could buy a HOUSE for 1.5x the average household income at a time when most women were housewives.
If we keep printing money, we'll soon lose our spot at the top of the list. Overall though, I don't think Canada is that great anymore as ever-increasing housing prices, unemployment, and a bad government plagues the nation. Politics are destroying this country.
Having a weak currency is important for tourism, film making and manufacturing. A strong currency would only help if businesses used it to improve productivity.
I agree as a fellow Canadian myself, It really isn't that great here.
Unemployment? It's back at about 2016 levels (~7%), considering the pandemic not too bad. The housing is pretty bad. American politics are plaguing on Canadian ones for sure, but Canada is still a great country if you get your head out of the parliament for a few minutes. Everyone goes crazy only thinking about politics, and you lose sight of what makes the country great by isolating on what is bad.
@@mcmudkipp To be honest as a young Canadian born and raised I can personally point out more bad things than good. Dont get me wrong we have a ton going for us and greatful to not be in a third world country but as a person who went to school in the nuclear feild after 3 years of college and still not being able to afford rent in my area(currently looking elsewhere) it just blows my mind.
@@DNGOOfficial Yeah housing is a large issue atm. The government needs to do something, but there isn't much they can do. Since they can't give away homes. or just reallocate land. They can provide subsidies, but then it's just feeding the bubble since you're encouraging purchases at those outrageous prices. Really the best choice is to let it pop.
And in the meantime find somewhere else to live. Though this doesn't change my stance that Canada has a lot more good than bad.
Shout out to Calgary Transit at 0:14. We use to have transit buses going through C-Train lines, but were rerouted a few years ago to make way for the 4 car C-train.
YYC baby!!
Could you make a video about for example the DRC, would be a bit different from all these advanced economies.
Canada has very expensive cost for food and homes are out of reach for most, high taxes and low pay. Canada is broken.
stop blaming other people for your failures in life
@@joeyj5538 I was not thinking of myself but others, Look around! Many Canadians are having a difficult time with the cost of living. I was not blaming others for my failures. I'm very blessed to have had a successful business and family. But I am aware of others going through difficult times mostly because of bad government for the last 8 years here in Canada.
A lot of the problems for the native population can be tied to housing costs. Nobody is going to choose to have kids if they can't afford a home. And nobody is going to become a risk taking entrepreneur when if you are careful and do everything right, there's still a fair chance you will not live a comfortable life. In the present you will be fine, but you may never have a secured future financially where you can retire someday. If you start one wrong business, you'll be poor for the rest of your life.
Good point noted, but I disagree with you that if you start one wrong business, you will be poor for the rest of your life. How? Can you tell me any millionaire or billionaire that took off off on the first short? You see, great enterprise are built by risk takers(calculated risk of cause). Canada is a Capitalist country an that should encourage business ventures. I am a month plus in Canada and I have observed that the government are trying to to encourage entrepreneurship and innovation.
Immigration pushes up housing costs. The area of land around a CBD is fixed. Increase the number of people in that fixed area of land and every square meter of it becomes more valuable and more expensive. Which is why owners of land like high immigration.
To stuff more dwellings into a city, you have to cover over green space with roofs and roads, or build up or build out. All 3 options are a drop in living standard.
Canada is not perfect and has its own problems like any other country.. but I think it is the only country that everybody agrees to love !! I mean what’s not to love about Canada?! ..Canadians are the most polite and compassionate people I’ve ever seen, I love the people, the streets, the food, the diverse culture, I even love its harsh winters!! I just love Canada ❤️🇨🇦 .. I love it so much that when I travel back to the old country I start missing it within few days of my trip!!
I feel like I want to live in the BC province
What's NOT to love?? How about Justin Trudeau for starters??
@@MrLEO1353 I know but that will be taken care of next elections for sure .. that narcissist prick has to go
After watching a Canadian bring out a chainsaw after getting in a car crash I struggle to see them being a kind people....
He was most likely attempting to assist a victim with a portable version of the jaws of life.
This video made me cringe a lot. Author's disdain for social benefits, or god forbid, anything socialism could offer, is really evident. Which usually comes from people that are making statements about things they know nothing about.
Now, I was living in Atlantic Canada for 7 months in 2018, with my then girlfriend and in-laws. I have seen how the real life goes. It might not be a very long time, but it wasn't just a week either. It was enough to get a sense of how my life would be there if I stayed.
What baffles me since then is why Canada is universally hailed as one of the best countries in the world to live in. In my opinion, Canada is slightly better version of US, minus mass shootings. It's decent enough to live in, but really nothing special.
Coming from Denmark, there were several things I was surprised by. For example, hourly wage is kinda low in relation to the expenses. And if you receive monthly salary, you don't have your private time. Everyone I met basically juggles several cards and paying off debt from one card with making debt on another one. Food was expensive back in 2018, I can't even imagine how it is now. There is no widely available public transportation, other than airplanes. The organization of administrative system is absolutely atrocious. Internet packages are expensive, and mobile internet prices are just insane. Buying a house is basically impossible with current prices. And on top of everything else, you have conservatives who want to privatize everything, including healthcare, and a whole lot of Trump supporters that can paralyze parts of the country at the drop of US republicans' hat.
Don't get me wrong. Canada is ok country. Canadians are super nice. I married one :D
I just wanted to point out that it is not this shining example of sunlit uplands. Statistically yes, by all means. But statistics are very deceiving. It is very rich country, but like in US, I guess that money goes to the small percentage of people. It can be the richest country in the world, but if I, as a common citizen, don't share in that wealth and I can't afford those awesome universities, or to have a house and family, what is the point of all those riches?
Just wait till you see our national debt per person
Rich due to immigrant money. But as slow as the capital comes, the faster the government will spend.
very accurate