TORONTO—The Carney government has big plans for a new and, it says, a more prosperous Canadian economy—but much of what it hopes to accomplish will take years before we see a material difference. In the meantime, support for big change may whither unless immediate threats are not addressed.
Two big challenges require careful monitoring. One is the rise of unemployment and the fall in opportunities for younger Canadians. The other is the huge volume of household mortgages that must be renewed this year or next, with higher interest rates and hence higher repayment levels, and at a time when the economy faces the prospect of higher unemployment and weaker wage gains to offset higher mortgage payments. Young home-owners who were first-time buyers at the height of the real estate bubble when mortgage rates were especially low are also especially vulnerable.
Carney won’t do squat. Mass immigration will leave us all impoverished and that’s what he and his cronies want – easy pickings.
