How did CANADA avoid BANKRUPTCY? – VisualPolitik EN

How can a country overcome a crisis? How can it reinvent itself, change, transform? These are two of the questions you asked us
in the comments section, here on VisualPolitik. Well, my friends, I think we can say that
the economy usually evolves through cycles. That is, a growth phase is sooner or later
always followed by a crisis, and then this crisis is followed by a new growth phase. And so on…. For example, since World War II, the US has
undergone 11 complete economic cycles, that is, both growth and crisis years. However, my friends… Things aren’t always that simple… sometimes… leaving a crisis is very, very
hard. So much so that decades could go by; so much so, that even a rich and prosperous
country can… stop being one. Because don’t think that this only affects
emerging countries, not at all. Even the richest countries can suffer this
type of deep crisis… usually due to political reasons, or rather, bad policies. But, yes, my friends, a country can even escape
these deepest of crises. We saw it here on VISUALPOLITIK with, for
example, the case of New Zealand, which after undergoing a very harsh crisis managed to
completely overturn their situation. Well… in this video we’ll show another
example… that of Canada! Yes, you heard me right. Did you know that Canada almost went bankrupt? Well, listen up. Canada is one of the richest, freest, most
prosperous countries with the highest quality of life on the planet. It doesn’t even matter what ranking we use: It can be the United Nations HDI, the Corruption
Perception Index of Transparency International, the Fraser Institute’s Human Freedom Index
or the Legatum Prosperity Index. In all of them, Canada is always among the
highest on the list… But this video isn’t about rankings… so…
just one more. See, in the latest ranking of the best countries
prepared by US News magazine and the Wharton School, Canada appears as the second best
country to live in the world. So, it’s pretty clear, as we already saw
on this channel, Canada, dear viewers, is very popular right now. However, things in Canada weren’t always
this happy. There was a time, in the 60s and especially
in the 70s, where everything was about to collapse. (THE DISASTER) For years, Canada was very similar to the
United States, it was practically its twin brother: It had a very small government, the country
was very decentralized and taxes were very similar… of course, the idea then was to
compete to attract investment and thus, also, people from abroad, immigrants. However, this all changed at the end of the
60s. At that time Canada sought to distance itself
from the United States and to try a new political and economic model. The great architect of this “revolution” was,
Pierre Trudeau, yes, the father of the current Prime Minister, Justin Trudeau. Of course… father and son’s politics are
by no means the same. It looks like Justin Trudeau did his homework. But… let’s not stray from the subject too
much. The fact is that Trudeau’s father governed
Canada virtually uninterrupted, between 1968 and 1984… And the fact is that throughout these 16 years
in power the country changed a lot. See, Trudeau wanted to implement a new political
model in Canada, which was a bit different from Washington’s capitalism and somewhat
closer to Soviet Moscow’s collectivism. (“As against the “invisible hand” of Adam
Smith, there has to be a visible hand of politicians whose objective is to have the kind of society
that is caring and humane”. Pierre Trudeau.) In fact, in international politics, one of
the things the prime minister was best-known for was his close friendship with Fidel Castro. In any case, the truth is that we could say
that Trudeau’s father went a bit far: he raised taxes a lot, increased public spending,
nationalized companies and because he thought that all international trade and investment
was bad, due to competition… he decided to set up barriers UMMM… barriers? Who does that sound like? If that weren’t enough, he also made the
Central Bank print banknotes to spare, to expand credit and finance the government. Does this recipe sound familiar? Well, the result of all this, my friends,
is that within a few years, the deficit, unemployment and inflation rates put the whole country
up against the ropes. So, of course, when in 1984 Pierre Trudeau
left office, he did so with the lowest popularity level for a Canadian prime minister in decades. Only 2 out of 10 Canadians still supported
him And it was then that Canadian citizens had
to make a very important decision. (THE CHANGE) In the September 1984 elections, the Conservatives
won an overwhelming victory. It was clear that the country could not continue
along Trudeau’s path. The new Prime Minister, Brian Mulroney, decided
to reverse the situation and began to strengthen ties with President Ronald Reagan. A new era had begun… Over the next 10 years the Conservative government
did many things to improve Canada’s economy: For example, it lowered taxes, negotiated
NAFTA, the North American Free Trade Agreement that unites Canada, the US and Mexico, And following in Margaret Thatcher’s steps,
launched an ambitious plan to privatize large public companies, such as Air Canada and Petro-Canada. However, dear viewers, he didn’t do one
thing… the most difficult and unpopular action: control public spending. In 1990, the state held more than half of
the economy, taxes were still very high, there was a huge public deficit, and public debt
rose like foam. Conservatives had taken the easiest measures…
but at the moment of truth they hadn’t really shown much commitment. Therefore, in the following 1993 elections,
Pierre Trudeau’s leftist Liberal party won the elections again… this time, promising
a true revolution. Could Pierre Trudeau’s party save Canada? Given his background, you can’t deny this
would’ve have been very difficult to imagine. But… my friends, everything was different
this time. The new government wanted to completely change
the country’s model once and for all, and no, they no longer wanted to know anything
about Moscow or the Soviet model. The main idea was that quality of life wasn’t
only related to the economy, it depended on it. If they wanted to achieve a high quality of
life they needed to strengthen Canada’s economy. And that’s what they did, especially under
the Minister of Finance, Paul Martin, the true change promoter. Well, the fact is that within the first years,
this leftist government launched a sharp public spending cut, elimited many unnecessary programs
and adjusted spending. For example, they strongly reduced military
spending and many companies’ subsidies. In just two years, in real terms, spending
dropped by 15%. Under the principle which states that the
State shouldn’t do things that companies can do better, the government decided to continue
with the privatization plan… in which they went as far as privatizing the railways and
even the aviation management system. And, no, planes in Canada haven’t fallen
nor have there been more accidents than in other countries. On the contrary, Canada’s aviation management
system is considered one of the best in the world. The fact is that in just 4 years, the situation
was under control. The government had gone from having a huge
deficit to a surplus. Check out this graphic. Of course, as you can imagine, these measures
weren’t easy, but one thing seemed to be very clear to Canadians, so much so that in
the 1997 elections, the liberal, leftist party, won again, by promising still more careful
government spending and, on this occasion, fewer taxes. As they said, my friends, their role was to
protect and give opportunities to the most disenfranchised, not to waste everyone’s money. It seems… sensible. Don’t you think? Listen to Paul Martin’s words in 2003, as
he reviewed their 10 years in power: (“We have to build a 21st century economy
in Canada for Canadians. We succeeded in the last 10 years because
we did not deviate from our course – balanced budgets, a continually dropping debt ratio,
lower taxes. We must stay on that course. […] We must be a government committed to
accountability. A government that treats taxpayers’ money
like it is your money”. Paul Martin) My friends, this revolution was a real turning
point in Canada’s history. The change that the country experienced in
the 80s and especially in the 90s… allowed for this country’s situation to change completely. Canada went from being considered an honorary
member of the “third world” by the Wall Street Journal, due to its public debt problems…
to becoming the most fashionable country. The liberal party hadn’t only solved the
country’s problems, they had changed its model. In the following years, up until today, all
political options opt for the Canadian model. Mind you, Canada isn’t a tax haven, far
from it, but they have understood that companies need to be cared for and not punished. Check this out: You heard that right. If we take all taxes that companies actually
pay into account, this country’s situation is very advantageous. In fact, Canada is one of the few developed
countries that has been decreasing its taxes from time to time, for almost 20 years, to
make the country more competitive… And look at how, for example, company taxes
have evolved: And this policy has mostly favored the weakest. Salaries have grown a lot, this is one of
the countries that receives the most immigrants, and employment rates are very high. In addition, if all this weren’t enough,
in recent years Canada has also become a world civil liberties champion, as we saw here at
VISUALPOLITIK in a previousvideo. And this, dear viewers, is how Canada managed
to escape its greatest crisis. And by the way, just as it happened in New
Zealand and Australia, these reforms were carried out by leftist parties. But this isn’t about left or right, it’s
about understanding that a strong, competitive and globally open economy is the best formula
to improve everyone’s quality of life. But, having said that, now it’s your turn. Do you think Canada is a good role model? Leave your answer in the comments as well
as in this survey. I really hope you enjoyed this video, please
hit like if you did and don’t forget to subscribe to our channel for brand new videos
every Monday and Thursday. Also, don’t forget to check out our friends
at the Reconsider Media Podcast – they provided the vocals in this episode that were not mine! And as always, thanks for watching!

  1. The most fashionable country in the world? How exactly do you measure that? It reminds me of one annoying cliché about Canada I keep hearing which says that diverse immigration "has made its cities the envy of the world". This cliché is said as if it were an objective fact, but it reminds me of some famous words by Joseph Goebbels: – "If you tell a lie big enough and keep repeating it, people will eventually come to believe it."

  2. I dont understand ppl in canada they talk some crap about americans but they come to work and live.if I dont like one country I never go there.

  3. Trudeau Senior's unpopularity will only be surpassed by his son's unpopularity. Trudeau Senior was responsible for Canada's debt back then and his son is repeating that screwed-up now. The last conservative government balanced the budget and the new liberal government is now spending us into the stone age even though the conservatives left them a multi-billion dollar surplus. This video is misleading liberal propaganda. This new liberal government is more like a communist regime.

  4. I like this channel, but this is such a shit analysis of what happen in Canada, the only valuable thing here are patterns of political change… but no explanation of causes and effects, the graphs are pointless

  5. Before thy are looking for SLAVES , now thy are coming to you,  you can not trust European Union thy are HYPOCRISY thy are the one who is created theory of SLAVES. Never apply for citizen you can not be non RACIST at all thy want you to be RACIST as STUPID as them. Should not be applying citizens to australia canada hong kong india jamica and u.s Virginia new Zealand too swizz, England, thy want refugees thy want you to buy a house in those places immigrants is bullshit as economic oil and u.s dollar hatch funding with oil is SLAVERY earth COMMUNIST in economic bullshit there is no democracy at all . Thy allways brain WASHING socites every day 365 days around world. 
    Band u.s dollar or made by u.s slaves .  Just share with your friends or family members about this msg if Care

  6. At the start of the 21st century, corruption and money laundering and identify theft crisis exploded. Even if you could rein in the spendings, millions of dollars each year is lost to bank accounts having their funds pilfered by scams and schemes, taking advantage of the aging and slowly growing ignorant, population.

    Those money stolen by scammers and con artists from all over the world and internet, doesn't really help, and it ends up further sending the population into a financial despairity.

    You might disregard it, but this is essentially a way to 'bleed' your country dry over time.

  7. Privitazing the railway proved that as a crown corporation…employees where fucking slacking…efficiency m and profits went up 100 folds

  8. Well thankfully Trudeau and the Liberals are done after one term. Notley will be out in Alberta. Wynn is gone from Ontario. Liberals and NDP are dropping.

  9. Moral of story.. Canada needs term limits.. Give any party too much rope… 🇨🇦 As for role model.. Don't look at us to be perfect and nice.. We just learn from our mistakes quicker 😜

  10. Canada was on a good track until 2015. Since then it has been downhill and back to the Trudeau years of senseless deficits, rising taxes and growing federal debt. Very dangerous and worrying trend in the wrong direction, since the only purpose of these deficits seems to buy votes, and after three years the government has nothing to show for all this wasted money.

  11. Justin isn't that far from the tree, he's just more flaky. The damage done to the economy pretty much put me in a bad position I never recovered from decades later. Now I dislike all govt and know that they add nothing to our well-being. As for Paul Martin, he used to show up to all the family funerals (my grandfather got Paul Martin Sr. into politics). Martin was PM briefly, but he was finance minister under Chrétien. I'm a libertarian but think Chrétien was the best PM we've had better still would be no PM or govt but what the hell.

  12. Canada has never gone "almost bankrupt." What a garbage video. I've live here since 1965 and most of the assertions in this video are false. An awful lot of this video is just fiction, made up to lengthen the video to increase view time. It's discouraging to see this fake garbage on YouTube.

  13. Canada has changed a lot over the years. Not all for the better. It used to be called 'golden mountain' by the chinese. Now it is called 'debt mountain.' Too much socialism has ensued, to the point where Canada is over-burdened by beauracracy & taxes. The size of government needs to be greatly reduced!

  14. Imagine leftists cutting spending. That's something ours could take a page from here. We have litteral kooks advocating for things we simply can't afford and hardly no political will to honestly call them out for it. Under Donald Trump, we've now spent two trillion with a T in deficit in just two years. Yet, we have a government shutdown over pocket change. We have way bigger problems than just a few billion… I am a little disappointed to say the least.

  15. Funny thing. . . I lived the Trudeau Sr. Years as a young, thinking adult. My memory is quite different from this video.

  16. I live in Canada and i can tell you it does not in reality have the highest standard of living. The current PM seems to think the budget will balance itself, everyday we hear of jobs been lost due to our PM poor handling of the trade deal with Trump our food costs are huge no one can afford to eat meat except the rich, the PM throws the taxpayers dollars around and homeless people die in storage bins in Toronto during a vicious winter with temps at -26.

  17. By the mid 1990s, Canada was almost bankrupt. I am GLAD to see that, finally, someone recognises that Paul Martin was the man who put Canada on the right track again! I'll never forget his speech when, confronted to the hight debt and deficits, he said that ''Come hell or high water, Canada will retake control of its finances''. So when the 2008 recession occurred it barely affected Canada because Martin had managed to sharply reduce the debt to acceptable levels. However this was done by reducing the budget transfers to the provinces, thus putting the reductions in spending on them. Justin Trudeau is now spending like there is no tomorrow and Canada's overall ranking should fall in the coming years.

  18. You have done a video about Canada and two-thirds of your credits are American sources. it's no surprise you consistently misrepresent Canada.

  19. you fail to show how socialized medical system that make Canada a socialist country work in relation to a capitalism and lower taxes?

  20. The liberal government under prime minister jean chretien and finance minister Paul Martin was not at all a 'leftist' party….it was in fact closer to center right in most of it's policies…..this is where many of us in canada expect a liberal government to be situated in the political spectrum….the liberal party did lean to the left under Trudeau senior and now , under Trudeau junior , has done so again…..unfortunate in my humble opinion

  21. Tax competition unfortunately, seems like a game few can win. If everyone would play it, there would be no company taxes anywhere so no one would gain anything.

  22. It did go bankrupt! Get your facts straight! All citizen's who sign the birth registration sell there childrens future to the government who then uses your body mind and soul energy as collateral as payment on there bankruptcy debts to the Crown of Englands and there CENTRAL BANK! You are an employee of the government and a cooperation who has an account in trust with the gocernment who holds equitable title of your PRESONA. LOOK IT UP! Blacks law Dictonary is the real english! U dont need to work for anyone u are hired by the govenment! WANT TO FIND OUT HOW TO GET YOUR BILLS AND HOME AND SCHOOL AND FOOD AND CLOTHS AND VACATIONS AND WHATEVER ELSE U NEED. Please do u research this link eill help show how. There is a way THREW THIS.

  23. I used to like those videos that seem to be objective
    but it looks like they are not
    Why do you say that trudeau was following the soviet model and not the european model

  24. If I had the chance to talk to Putin, I would ask him to consider using the Canadian model first, then increasing military strength

  25. Paul Martin was a economics professor first and politician second. Paul Martin was liked by the area between liberals and conservatives. The NDP were not very relevant at the time.

  26. Trust me canada is way better than the other g 7 countries .as long as we dont start bringing in scrubs from places I would not rather say we gonna be ok .for now .

  27. Cosmopolitan bubble guy says everything is rosie because taxes are low for multinational corporations and Toronto and Vancouver have experienced incredible growth. This is the perfect example of Truth by narrative. All western nations dept increased during this time period. The US banks have always undersold Canada, this ended up helping in the end since the low dollar brought US manufacturing jobs to Ontario. In reality, neo-liberal economics gave Canada a short term macro economic boost, for a long term hit. Now our dollar is a petrol dollar and the Ontario manufacturing sector is being dismantled. So sure, tourism and Vancouver and Toronto real estate prop up our dollar value and real estate value. But the true reality is that the parts of Canada that are experiencing this economic boost are completely unaffordable for even upper-middle class Canadians. So if you think that laundered Chinese money propping up the system is good economic policy, then I guess yes, you can call Canada an economic hero.

  28. This Country has no Equal Shared Parenting. That keeps the Economy rolling with the Courts. Drugs are abundant and so is Security everywhere in Parks and Shopping Malls. Old People are in lonely Apartments.

  29. Trudeau was one of the first Western leaders to realize that all is not or eventually won't be well with the US and so being a close neighbour of the US he decided to try to hedge his bets and he succeeded! Trudeu was in NO WAY trying to introduce elements from communist USSR! That's ridiculous. He was interested in importing elements from Europe: esp. France, Sweden and Norway which at that time (1960s and 1970s) and even till today follow a mix of socialism and capitalism – socialism as in the welfare state kicks in for things like Education and Medical care. Yes, he played politics by meeting Castro, etc. but the reason was more to do with ambitious political posturing against the USA than a love of communism. He had good reason to give the Americans a clear message that Canada was no pushover. Also, having close contact with the Gaulists in France, they had told him that the USA was most likely in some kind of a shady pyramid or ponzy scheme when it came to keeping the gold reserves of other countries under their custody for safe-keeping in the aftermath of ww2. And that turned out to be true when US President Nixon in 1971 abandoned the Bretton-Woods monetary system and one of the main reasons was that it no longer wanted to pay in gold any country that asked for its dollar reserves to be redeemed in gold. The ponzy scheme would come to an end if all Western and allied nations suddenly came to the US "Federal Reserve" and redeemed their reserves in gold at the amount and rate fixed at that time and then eventually those that had Gold Reserves with the "Federal Reserve" for safekeeping would realize that perhaps the US doesn't have their gold after all!. So when Gaul of France asked for gold, the US paid up, when they asked for a third time, the US said, GFY and then abandoned the "Gold Standard" in international monetary/currency arrangements and the fiat dollar and then fiat all other currencies were born. So he was "playing it safe" based on intelligence and information he had and he did a splendid job and fine balancing act in my view. You must also remember that Canada was very wary of the USSR and faced a very real danger of Soviet adventurism in the Arctic Circle even in the 60s and 70s and so for you to imply that Canada and Trudeau were neo-communists or pro-USSR is totally ludircrous.

  30. Great video! If we continue this Ocasio-Cortez nonsense in America we’ll all be broke together, everyone equally broke!

  31. It is a good system when others systems integrate well with it. Capitalism works best when there are ample capitalistic partners to work with and freely trade with.

    Problem is that does NOT mean capitalism is a sustainable system. There is going to have to be a major economic revolution and soon considering we are about 100 years overdue for a new one. In a digital era that is increasingly automating jobs you are not going to be able to continue to build a model based on acquisition of wealth when for the largest majority of people there is no longer opportunity for any wealth to be had. Capitalism only works if the people have jobs. When the jobs are gone, the people have nothing to buy the products being sold. If the products wont sell there is no reason to produce the product and thus the corporation making the product cannot remain profitable.

    Capitalism has always been a locust system, continually devouring areas of growth and profitability as quickly as they can be found and exploited. They don't consider locusts a plague for no reason though.

    There is going to have to be a new system and the biggest problem with that is it will either need to be a completely self sustaining system, or it will have to work well with other nations that remain as capitalistic entities, or that have also adopted this new system and integrate well into it.

  32. privatisation is good for some time but then companies are becoming greedy and want to do things for profit . Tickets prices rise and nobody cant do anything about it.

  33. They can afford to have no military because they can depend on the good old USA. They won't have a country in a few years because of the third world immigrants. Canada will be another shithole with gays everywhere.

  34. In that time, all Liberal and NDP became the enemy of the poor. One of their legacies was robbed food from the poorest children and gave to their so-called low-income families and their children as the extra income benefits. Even that robbed food from the poor and gave to the rich was clearly report by the join Social Service Ministers, all media liked it. Even it was hard evidence of these poorest children were living in starvation, both level governments refused to just simply refund back some of the food money they robbed from these poorest children. I was advocate to have such partial refund for over than 10 years, but gained no support. It is very sad for these unfortunate children.

  35. Canada has something called "government regulations" that don't allow banks to behave like casinos as they do in the US.

  36. Very good analysis of Canadian economic reform. I worked for the Canadian Federal Government during this period and had a very small role in downsizing government and reducing government spending. Many federal government employees were given generous golden handshakes, retired, and were not replaced. Many rules and regulations were changed or eliminated to improve efficiency in service delivery. It would boggle most peoples minds how much pure waste occurs in government, most of which is driven by politics and personal ambition. The economic "miracle" was actually very simple and easy to achieve.

    1. Downsize the workforce by getting rid of the old dead wood via early retirement.
    2. Cut spending. Necessity is the mother of invention and having smaller budgets drives innovation, efficiency and prioritization of service delivery.

    Success of course breeds largess. Increasing government revenues provides money for increases in service which require contracting with the private sector and increased government hiring. Political ambition and "empire building" drive increased spending and reduces efficiency. I retired from government service after seeing one complete "business cycle" and can say that as of this writing that the government of Canada is well poised for the son (Justin) to repeat the economic sins of his father.

  37. I think you need to rethink what a leftist government is. In Canada the Liberals are considered a centrist party and the NDP is our leftist party. Very strange to hear someone referring to the Canadian Liberals as leftist???

  38. Funny how Canada is currently ruining its economy, sending everything overseas to China… and how Canada is slowly getting rid of the middle class… Canada is getting close to a new crisis…

  39. Before you come to Canada see a good doctor Canada is bancroput coutry need a lot of stupid people work very hard for free

  40. It's so expensive to live in Canada jobs don't pay much, economy lives on high taxes, roads really sucks, it's so expensive to travel within the country, we can't afford phone bills which are so expensive, more than 90% of Canadians don't own a place and live paycheck to pay check, yes that's why Canada needs more immigrants to slave them and lock them up in this big prison my friend

  41. Annoying that this channel seems to take itself seriously on one hand, but seems to confuse liberalism and leftism on the other. Liberals are generally in the center, while socialists are on the left and conservatives are on the right. However, in for example The Netherlands, most right-wing parties call themselves "classic liberal parties" or something like that. So… please say "left" if you mean "left" and "liberal" if you mean "liberal" and don't confuse these things.

  42. Its almost like cuts should be made to the military and cooperate handouts and not social programs that keep people afloat. Conservatives here in the US could learn from that.

  43. The beginning is sooo stupid. There is no a country can't have sustained stable growth without having a crisis/crash.

    Simply remove the parasitic private Federal Reserve (or foreign equivalent) and the boom and bust will be replaced by stable growth and increased size and wealth of the middle class.

    "The Federal Reserve is as private as FedeX"



  46. Canada is a beautiful and peaceful place to live. Canadian are the most wonderful people, so open minded. Yes the stander of living is also not bad. But it doesn’t mean we don’t have issues; a good number of people is living on streets because of drug and mental health issues, they need government attention. Corporate taxes are low but middle class is paying the most in taxes. Approximately 50% of worker are payed closed to minimum wages. I know many young couples, both working hard but still struggling to pay their bills and house rent, let alone buying their own house. I wonder if we have the highest standards of living in this world, how would others be living,

  47. It is now 2019. Perhaps you might consider revisiting this, especially as Justin Trudeau has followed his father’s footsteps and virtually destroyed the Canadian economy, which is heavily reflected in loan failures from auto purchases through to a huge decline in the realty market, having ripple affects through every vertically aligned brother market within our economy. So much so the Bank of Canada, though desiring to raise interest rates to keep up, have dug in and stated that to avoid a full scale depression within the Canadian economy, interest rates will remain constant throughout 2019 – in spite of the plummeting value of the Canadian dollar, and exodus of major international corporations.
    Justin Trudeau has fully and completely embraced the Marxist ideology including the levels of corruption within virtually every action domestic and foreign that Canadians are now suffering at levels greater than during his fathers reign.

  48. It has room to improve. Health care system is great ONLY if you came from a country like USA, but really it barely works. You have decent health care only if you pay premium. And yes, they have lots of jobs… mostly low income technical ones. But they over protect high quality jobs for their born citizens, like MDs or similar ones.

  49. Lots of bitching here as usual. Ask yourself where else would you rather live? If you were born here you won the lottery. Think about it. You are one of 36 million out of billions in this world.

  50. Actually, in western Canada, Pierre Trudeau is one of the most reviled political figures in Canada's history; Boy W
    onder, the second generation is rapidly closing the gap ie."budgets balance themselves".

  51. After the failure of the Left world wide in the 70s, the success of the Right in the 1980s, then the fall of Communism, the left of 1995 looked almost identical to the Right of 1975. The change was especially dramatic in Scandinavia and Britain.

    Bill Clinton pushing for NAFTA was one of the most political shocking events of the decade for Leftist.

  52. You always intentionaly try to show liberal capitalism as a positive thing in addition you have never told a negative thing about capitalism. You are trying to make liberal economic propaganda

  53. wrong. we pay nearly half our personal wages to income tax. %39. . Canada is a great place to live if you were rich before 1990. nearly every person 35 and younger has to work 80 hours a weak to sustain an average income. we may invite multiculturalism, but the reality is %50 of people cant survive.. put your shoes on Simon

  54. *World Civil Rights Campaign" hahahaha. Here's the thing, Im America, we taken in 1 Million immigrant a year, everyone complaints but nothing is ever done. Why? Neoliberalism.
    "Contrary to the view that this might threaten Canadian jobs, it does the opposite. By closing this skilled-job gap, we build stronger Canadian companies and keep employers here, building their global businesses on Canadian soil." [1]

    Increasing the labor pool, suppresses wages, increasing business profits. So American companies complain about labor shortages to justify immigration, so they can lower wages. Clearly Canada has realized the same thing: "The Canadian Federation of Independent Business’s most recent survey found that 430,000 jobs had been left unfilled for four months or longer." [1]

    Do you have a good job Mr. Engineer. Don't worry neoliberal values will save you too. The US has this magical thing called a B-1 Visa that grants a skilled foreign worker the permission to work in the US. Engineers get paid well because of the relative scarcity of employees. With the B-1 Visa program US companies are able to draw in 10,000s if not 100,000s of high skilled foreign workers willing to do your job for half the price.

    Standards of living can be summarized by a country's per capita GDP. Increasing population lowers standards of living, increasing productivity increases standard of living. Population increases with immigration and also keep wages low and profits high. If there was no immigration increasing the labor supply low value labor would be automated increasing productivity. However, automation requires significant capital investment and risk.

    Immigration keeps wages low and corporate profits high. This can increase population faster than GDP resulting in decreasing per capita GDP.
    No immigration keeps profits low unless capital expenditures are made to increase productivity. This increase in productivity always increases per capita GDP.


  55. Yea, you see what's happening in France? The MSM have stopped covering it, but it's still huge. Taxes are out of control. The governments have made so many promises and they've already cut everything, including a vital military, to cover it. They're paying credit cards with credit cards. There is nothing left but taxing the corporations. Stop giving free shit away. This is what kings did to the peasants to keep them from revolting. It's not a long term plan.

  56. The Prime Minister in 1993 was Jean Chretien, not Pierre Trudeau. We also had the FLQ crisis and the Quebec separation referendum and now the attack on free speech.

  57. Very good point, totally agree with the last statement about strong open economy, (min11:48). One point not mentioned in the video, salaries of the federal public workers were frozen for a period of 10 years. It was rough and did bring some criticism but was mostly accepted by the population as a whole, for a better future. One drawback that was discovered later, as investing for the maintenance on infrastructure was lowered through the 90ies, cities and provinces kept with the lower maintenance budgets untill after 2010-12 to discover a road system decaying and in dire need of repairs and rebuild, at a much higher cost over usual maintenance. Growing, although slowly, population and harsh winters are quite hard on roads. Montreal, where I am from, looks like a war zone for all the construction sites all over town.

  58. You don't know sh*t!
    I'm an Australian in Australia and our economy is on the brink…..thanks to the mismanagement of our left wing Labor Party after the GFC, with it's helicopter money and it's subsidies on just about everything. I think you want everyone to be equal so we ALL have to shop and the same 'factory seconds' store that you buy your shirts from. Keep sh*tting on Trump mate because it's someone like you who hasn't done a hard days work in his life that knows how to manage economies.
    Douche bag 🖕

  59. It s exhausting to hear your opinion about Trump on every video, whatever the subject. Could you try to move on with your life?

  60. This guy hates trump.. you don’t shit on Obama at all. how can I trust what your saying if your one sided.

  61. it should be noted that the privatisation of the railways, as usual, ended up in a catastrophe. It is now almost as bad as the U.S. Also they only cut subsidies and left the most important stuff like healthcare

  62. yeah, canada maybe has high immigrant rates, but it has controlled immigrant rates. That means they decide which of the most qualified and competent inquirers are allowed to come in and stay there; Unlike other countries in Europe we know. It is important to never confuse some attributes which might seem to correlate. Immigration doesn't equal benefit for society, less even prosperity or utility itself.
    People who are not willing to integrate or contribute to the benefit of society will not lead to anything other than harming societies. That is an essential lesson that has to be learned in modern times if we don't want to ruin our individual cultures; You know, the thing we want foreigners to maintain, even in our countries.

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