Americans know that the U.S. economy is in trouble but that’s also true for Canada.
While woke extremist leaders like Justin Trudeau keep implementing crazy policies working class Canadians are the ones who suffer.
And now Justin Trudeau is in a panic after Canada’s top bankers exposed one woke extremist policy fueling their country’s failing economy.
Top bankers blast Trudeau’s immigration stance
Several leading bankers and economists are slamming Canadian Prime Minister Justin Trudeau’s immigration policies, saying that his choices have now destroyed the economy.
“We’ve screwed it up,” TD Bank Group Chief Economist Beata Caranci said. “We took what we thought is a good thing [high immigration] and thought, well, if it’s a good thing, then more is a better thing, and now we’re realizing, no, that’s not the case.”
According to Jean-Francois Perrault, Senior Vice-President and Chief Economist at Scotiabank, many Canadian CEOs are choosing to hire immigrants as workers rather than investing in new machinery that could help actual Canadian citizens become wealthier and more productive.
“We made it too easy for businesses to hire [foreign] folks” instead of helping investors and workers focus on growing their companies, Perrault said.
“They lost control on immigration policy,” National Bank of Canada Chief Economist and Strategist Stefane Marion said.
Caranci also added that the country needs to “start thinking more intelligently,” and that if the leadership doesn’t “start to show some courage on putting [lower] target numbers [for immigration], and making sure the numbers match up to the housing supply, they run the risk that we start to end up with populist views and we know what that looks like south of the border.”
The statements come from a 2024 forecast organized by the Economic Club of Canada in Toronto that was held on December 27.
Increasing numbers of Canadians are starting to push back against Trudeau’s immigration policy, which added over 1.25 million illegal aliens to the country in 2023 alone.
As a result, Canada has seen rising inflation, stagnant wages, higher housing prices, a homeless problem, and stifled productivity that would have supported higher wages and better standards of living.
Now, economic growth in Canada has come to a screeching halt, making it more difficult for banks to offer loans and make investments.
Opinions are changing in Canada
Some recent polls have found that Canadian views are changing dramatically.
“Less than a year ago, polling by Nanos Research showed 61 per cent of Canadians thought the immigration levels should either be increased or stay the same, in keeping with a decades-old consensus that welcomes newcomers to this country,” an editorial in the Globe and Mail stated.
“Public opinion has inverted, according to Nanos,” the editorial added. “In December, 61 per cent of Canadians said immigration levels should be reduced, with just 34 per cent still believing that Canada should maintain or increase the number of newcomers.”
The editorial concluded that Trudeau’s government “needs to change course, quickly.”
While other countries like Ireland are pushing to expand their population with more immigration from Asia, the Middle East and Ukraine, perhaps they should look to Canada for a lesson in what not to do.
US Political Daily will keep you updated on any developments to this ongoing story.