Top Economist Pushes Back On Morneau’s Denial Of Canada’s Competitive Weakness

David Rosenberg says Canada would have a stronger currency if we were actually competitive.

Respected economist David Rosenberg is pushing back against Bill Morneau’s claim that Canada doesn’t have a competitiveness problem.

In an interview with BNN Bloomberg, Rosenberg said “Look, if I was a politician in Ottawa, and I was in power, I’d be saying the same thing. Who is ever going to go in front of the cameras and admit failure?”

‘“But the data are the data,” Rosenberg added, pointing to stagnant Canadian business productivity growth and capital investment-to-GDP ratios as examples.”

Rosenberg notes that Canada is reliant upon our weak currency – which artificially boosts the competitiveness of our exports and masks serious underlying problems:

“I guess you can manufacture other data to fit your viewpoint, but let’s just face facts. If we were truly competitive, we wouldn’t have to be relying on a 70-cent Canadian dollar to act as a competitive crutch, artificially, for domestic industry,” said Rosenberg.

He said that if Canada were “actually a competitive powerhouse,” we would have a strong currency.

If this article feels familiar, it’s because there is an ever-expanding list of people warning about Canada’s competitive weakness. Just earlier, I wrote about the CEO of Magna, who says the US is becoming a better place for investment.

Billions in investment has already left our country, and billions more is headed out the door.

This is what happens when a government puts virtue-signalling ahead of basic economic common sense. Trudeau and Morneau think they can just say the right words and people will magically overlook rising taxes, rising regulations, and the rising cost of doing business in this country.

Of course, it’s not working, and Canadians can’t pay our bills with politically correct talking points.

Spencer Fernando

Photo – YouTube

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AwakeCanadian
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AwakeCanadian

We know that our government lies to us. Now if we only had some independent national body which could investigate and report truthfully on these government claims to the Canadian people. Instead we have the CBC.

Mike
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Mike

All CBC does is have news on Trump. God for bid if they mention anything the PM doing to this country. The People need to vote this arrogant money spending out.

Bruce
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Bruce

If it is a negative story about Trump, the CBC will post it, allow comments, and allow the commenters to post any demeaning comment about him. However, if its a story about: our national or provincial liberal leaders, their policies and apologies, a racially charged or socially sensitive topic, etc., the CBC will usually never allow comments. And when they do allow commenting, your comments will never see the light of day if you should even mention Trudeau or the Liberals in some potentially demeaning way, such as Fiberal. Now if you call the Conservatives “The Cons”, that’s okay. I… Read more »

Shawn Harris
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Shawn Harris

Just how many more expert economists is it going to take before the dynamic duo of failed finances finally realise and admit that their policies of creating a closed national economy are the root cause of Canada’s competitiveness problems and the continuing massive exodus of investment capital. After all, since businesses everyday now are announcing that they are either moving their business south of the border or moving investment capital south as well, that should be just as a big red flag to Trudeau as it is to businesses and investors. It absolutely means, we, Canada have a very large… Read more »

Lorne
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Lorne

I do agree with that it is his hidden agenda and Gerald Butts is his handler. It is also, IMO, the agenda of the UN. I think he is looking for a position in the largely corrupt UN where he can carry on with the Club of Rome, Agenda 21/30 and help to bring about Global government using CO2 and their enabler. Maurice Strong was able to reduce Ontario to a morass of debt which will take decades, if ever, to recover from. After serving my country for 35 years to keep it safe, I am now faced with my… Read more »