Canadians Economic Pessimism Surges As Life Gets More Expensive

Poll shows Canadians expect costs to keep going up.

As the Trudeau government hits Canadians with higher taxes (the carbon tax in particular), and slams businesses with bureaucratic regulations, Canadians are growing more and more pessimistic about their economic future and expect the cost of living to keep rising.

According to a recent Ipsos poll, Canadians expect to pay more or the same for almost everything in 2019 compared to 2018:

Net Scores
Photo – Ipsos

Additionally, more and more Canadians say they are pessimistic about their economic futures.

Currently, 16% of Canadians say their personal financial situation is ‘good,’ while 45% say it’s just ‘somewhat good.’

Notably, the number saying their financial situation is ‘good’ or ‘very good’ is down 5 points.

And that’s not the only area for concern.

As noted by Ipsos, “Canadians say their spending on necessities in 2018 increased (50%) rather than decreased (14%), that their debt increased (32%) rather than decreased (26%), that they spent less (30%) not more (27%) on discretionary items that they want but don’t need, and have less (35%) not more (31%) savings in the bank.”

Of course, this wouldn’t be a big problem if wages were growing at a decent pace, the rate of wage growth has fallen far below the rate of inflation. So, wages can’t keep up with the cost of living, resulting in Canadians becoming poorer in real terms.

Assessing the economy must be done based on many statistics and common sense perceptions, rather than just one point of data. And when we consider the rate of inflation compared to wages, the decline of investment, the poor performance of the stock market, increased economic pessimism, and the general sense that life is getting more expensive, it’s becoming clear that Canada’s economy is in trouble.

Spencer Fernando

Photo – YouTube

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shawn harris
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shawn harris

It has become very clear that Justin Trudeau learned a lot from Kathleen Wynne and her disastrous liberals. Trudeau is really following the same failed Liberal economic policies , that Wynne used to destroy Ontario and leave the province with the not so stellar reputation of having the world’s largest sub sovereign debt load. Like Wynne, Trudeau is also giving businesses and workers the same helping hand up with crippling taxes and regulations. That have always resulted in lost jobs, businesses going broke and investors fleeing the country. So it comes as no surprise that workers wages are stagnant and… Read more »

Chris vrecko
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You should try and live on a seniors income. I hate him and his govt.

Steven
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Steven

Look at California and it’s taxs, regulations and debt and u will see very clearly Canada’s future under trudope

Del
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Del

I started moving my investments out of Canada, as I could, a couple of years ago. Pot stocks and battery stocks are down but will come back. My TD as well as most other Canadian Banks stock has almost tanked and I wonder if they plan on using Trudeau’s Bail In legislation. They brag about billions in profits, similar to the GDP and employment numbers we are given, and I wonder which is fake news.

Brian Dougan
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We’ve been told that our 2019 yearly food costs will increase by three hundred dollars this year. Trudope’s carbon tax will add about twenty cents per gallon to car/truck/jet fuel. The people who responded with “no change” must be listening to the MSM. Everything is hunky dory! Tick tock…tick tock…this country is being strangled by severe debt and “gender balance”/insane political correctness/”inclusivity”/”the budget will balance itself”/”diversity is our strength”–All of it mumbo jumbo/kill the energy industry/tax us up the wazoo. Canada will collapse…tick tock. Just a matter of time. We’d need ten Donald Trumps to get this mess cleaned up.… Read more »

Jaba
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Jaba

Trudope. What a disgrace! I wonder what were Canadians thinking to elect this doofus.