US GDP soars to 4.1%; a moribund .3% is the Canadian figure–Time Has Arrived To Ask Ourselves Why

US GDP soars to 4.1%; a moribund .3% is the Canadian figure, which is actually negative when you factor population growth. Until 2015 Canadian economic performance tracked with U.S. performance. This is no longer the case. Texas, for example, suffers a critical labour shortage because of an energy boom; yet the precise opposite is the case in energy rich Alberta. Alberta has yet to recover even two thirds of its energy production in terms of revenue prior to the crash events that announced the Great Recession.

It is time to begin asking ourselves why.

Exhibits:

(i) In a story titled Trump triumphant: ‘We’re going to go a lot higher’ than 4.1% GDP growth, the estimable team of Tucker Higgins, Jacob Pramuk, and Mike Calia write:

[…] President Donald Trump pitched his economic record to voters Friday, boasting that strong numbers released earlier in the morning were “sustainable” and blasting Democrats for wanting to “raise everybody’s taxes.”

“We’re going to go a lot higher,” Trump said, referring to the report that showed a 4.1 percent rise in gross domestic product during the second quarter. It was the highest quarterly jump in nearly four years […]

(ii) Economists always call it wrong. Always.

(iii) Meanwhile, in Canada, Justin Trudeau issues only alibis in lieu of policy based on economic principle. Do you remember this initiative of the long ago Obama Interregnum titled the Advanced Manufacturing Partnership? Neither does anyone else. It returned precisely nothing except subsidies for university administrators.

Draw your own conclusions. But Canada is doomed.

yours &c.
g.v. wilkes iv

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