🚨BREAKING: Canada Finally Enters Recession! But Who Cares?

Added: 2026-05-31

[00:00:01]Breaking news everybody. Canada is now officially in a recession. They're calling it a technical recession, but I think we know it's a real recession. But the reality is Canada is actually entering a depression, and I'm going to show you the data behind it in this video. And nobody is saying this, but it's far worse than a recession because it's actually inflationary at least at the moment. So it's stagflation.

[00:00:32]That's what Canada is in right now, a stagflationary recession if you can [laughter] believe it. If such a thing even exists, well, Canada has created it. So I mean, absolutely crazy. Please like this video if you're watching after. Please hype the video. I don't even know what that is, but please please do it. Please like the video though. It helps everybody get notified that we're actually live. It really makes a difference on these live streams here. So as you can see, Canada slips into technical recession as economic growth stalls in first quarter. It's been in a per capita recession since 2022. So 4 years ago, Canada has been in a per capita recession, which is what matters because as I break down the numbers here, you will see that it's far worse than this as we all know, as everybody knows in the real economy. And they're just trying to say, "Oh, it's just a technical recession, guys." So Financial Post, Canada dips into recession. Oh, we're just putting our toe in it. We're just putting our finger in it. You know, it's just a little bit.

[00:01:40]It's just a little bit of a dip into a recession, guys. Just forget about it.

[00:01:44]Next month, we're going to be out of it anyways because of oil prices, which doesn't affect you. Actually, it's negative for you, but you know, that's going to make the numbers look good. So I >> [laughter] >> It's absolutely crazy. But this is what's happening and this is what it looks like a good visual here. So, annualized change in quarterly GDP, you can see there was a down quarter, an up quarter there, largely mostly fabricated these numbers anyway, and then two quarters to give the technical confirmation that Canada is in a recession. So, finally that has happened, but the reality is it's been way worse than this morning.

[00:02:28]>> Some breaking news. The Canadian economy has slipped into a technical recession, according to new data from Statistics Canada. Economic growth stalled in the first quarter and real gross domestic product was slightly negative on an >> [laughter] >> It's a technical recession. It's just a recession. Let's just call it what it is. But, you know, Canada strong will help make America great again. This was Mark Carney speaking just yesterday and you've got to take a listen to this. I mean, it's absolutely hilarious. After all the elbows up stuff, those elbows up people are just being obliterated and the bankster himself, who's meant to save Canada, has destroyed it. I mean, at least according to the technical statistics here. So, take a listen to this.

[00:03:20]>> Canada is America's largest customer.

[00:03:23]We buy more goods from America than China, Japan, and Germany combined.

[00:03:28]Those common interests run through our supply chains, where 70% of Canadian exports are inputs to American cars, homes, aircraft, machinery, finished goods, creating hundreds and hundreds of billions of dollars of US value add.

[00:03:43]They run through our energy partnership, where, at a time of a global energy crisis, Canada provides the United States with reliable power, with critical minerals that help fuel American growth.

[00:03:56]99% of US natural gas imports, 85% of electricity imports, 60% 60% >> been saying on X the whole time.

[00:04:06]>> is mutual strength.

[00:04:09]Let's be absolutely clear.

[00:04:10]>> What happened to the EU?

[00:04:11]>> Canada strong will help make America great again.

[00:04:15]>> And that's a big pivot. What he just said that. Let's just play it again here.

[00:04:20]>> Canada strong will help make America great again.

[00:04:24]>> Oh, just imagine the frustration of those elbows up people right now. I would just love to see that face. I'd love to just show them my photo and be like, "Here, take a look. You voted for this guy, you absolute wacko."

[00:04:41]I mean, and it's just absolutely hilarious because he was the genius, right? He was the genius that was going to save Canada. I mean, after he presided over stagflation in the UK after Brexit as well, he's now brought that model to Canada [laughter] and you've got stagflation. The worst thing about this guy is he's actually quite clever, unlike Trudeau, who was, you know, just the left-wing version of Donald Trump essentially. That's what it is. I mean, they have a lot in common.

[00:05:13]They're just sat on the opposite sides of the aisle, actually, if you really think about that. And, you know, apparently Carney's been MAGA the whole time because take a listen to this clip from the BBC that got dug up here.

[00:05:26]>> Americans are valued between 1 and 10 million dollars with the average trending upwards at a rate that rapidly exceeds inflation.

[00:05:36]America isn't just great again.

[00:05:38]It apparently never has been so great.

[00:05:41]>> There you go. There you go. So, Mark Carney has been MAGA the whole time. And before we get into the statistics, which we'll be doing in just a second here, I just want to show you the type of person that is in charge here, because this this is just crazy. But again, it shows it like the seven-course meals that, you know, Mark Carney is just used to dining. So, here you go from Ryan on X.

[00:06:06]On Carney's flight to Rome, they not only had freshly squeezed orange juice, but they also had freshly squeezed apple juice for $308.

[00:06:17]So, you know why Canadians are struggling, Mark Carney is getting fresh orange and apple juice that's squeezed in front of him for 192 euros. I mean, this is a guy who's dining whilst he's on essentially a private plane, even though it's military, still a private plane, and basically he's just getting flown around, and he's saying, "Yeah, we're going to align with the EU. No, we're actually going to make America great again." Like this guy is just flip-flopping, even as worse as Trudeau, like if not worse. But again, it is worse because he actually is smarter than Justin Trudeau.

[00:06:58]So, this is the per capita numbers of what's happened to the economy. We're going to get more data as this comes, but it's just going to be coming down.

[00:07:06]But if you look outside of the pandemic, you haven't had a decline like this since the financial crisis. And then before that, since the 1990s recession, which I think is what this will probably mirror, especially as you see this steady grind down here, exactly like in the 1990s, whereas in 2009, it pretty much just went straight down in a year and bounced back up. Well, now you've been in sustained decline since 2022.

[00:07:38]So, I mean, per capita been in decline.

[00:07:41]The inflation rate just came out at 2.8% it's nearly 3% it's 80 80 basis points above the Bank of Canada's inflation target and at the same time you've got the unemployment rate that's up and at the same time you've got Canada in a recession. So there's still inflation, unemployment is high and now you're in a recession. So I mean essentially it's a depression and you're probably going to see inflation fall and that's not going to be good. It's just going to be as a result of people not spending money which will just make the economy even worse push the unemployment rate up even higher and then business margins will be shrinking even faster because inflation is still there it's still going up it's just consumers are like I can't afford it. I'm not paying that. So they just don't. But what do you think like do you think this is a good idea to go out and make the biggest financial decision of your life and buy a home buy into the Canadian debt cycle >> [laughter] >> I mean just imagine the people who just bought their houses and are waking up watching the news and they're hearing this guy they're hearing Canada is in a recession.

[00:08:59]>> Tandon we make a start with some breaking news. The Canadian economy has slipped into a technical recession according >> Yeah, it certainly has and it's a bit more technical and the funny thing is the Canadian dollar is actually flat to even up. I've got a video coming on that.

[00:09:17]>> [laughter] >> Actually I state the case that when these banks start calling and saying it's going to decline it usually starts going up and that's exactly what has happened. Just last Friday JP Morgan said oh the Canadian dollar is going to go down. We're going to increase our bets and since then, it's actually gone up. But long-term picture is going to be going down. It's just going to be, you know, a relief rally up to somewhere up here, and then it's just going to come straight back down. And if the US dollar strengthens, it's going to be even worse. And Mark Carney is also offering Canadian pension funds to US investors at the Economic Club of New York. Just another swaray that Mark Carney is attending on the taxpayer dollar. I mean, he's living like a king. These people are laughing who get into power.

[00:10:10]I mean, all this [ __ ] needs to be stripped away from them. It should be bare bones. It should be people in these positions of power doing it because they love the country, not because it's just a grift for them, and they're living like a king, and it's just a status symbol that they want on their resume, so afterwards they can start charging $150,000 for a 30-minute speaking engagement, like Trudeau is doing. I mean, it's just absolutely wild. There is just massive reforms that need to happen, legal reforms, constitutional reforms, and Alberta is probably thinking, "Yeah, we want out of this mess. We want out of this mess." I got a good video coming on that. Interest rates are down since this announcement came out. But you know, since they started spiking, they're still up. So they're just back down to the range right now, but they're still up. They're nowhere near where they were before, so they're still saying that there's going to be an inflation spike, which I think is really interesting when you're actually in a recession as well, especially from an economics standpoint.

[00:11:21]I bet like the mainstream economists who've been to Harvard and paid like hundreds of thousands of dollars for their education, their heads are just exploding right now. Like, what? They didn't teach me that at economic school. And then this is basically from the report here. So, you can just see what went up, what went down. Inventories built up, never a good thing. It's basically they're not selling goods. Exports were down. You had imports that were down. Again, that's not good, but the inventories are built up there and they're not selling goods essentially.

[00:11:58]Gross fixed capital formation down.

[00:12:00]Household final consumption expenditure slightly up. But the thing is that nobody will admit to you and is so important is basically I want to explain this real simple because when people understand this, it's such a great thing and it can really mean change for a country because people shouldn't think, "Oh, this is boring." Like the inflation rate is [ __ ] fake. We all know it.

[00:12:28]Excuse my language, but it just is and it frustrates me so much. So, let's say the inflation rate is double what it is here and we're going to make the math easy and say it's 6% right now, which would be closer to realistic number.

[00:12:42]Well, the GDP numbers are adjusted for inflation. So, they're adjusted for these fake numbers. So, if inflation were way higher than these fake numbers, that means the GDP is even worse. So, that when you when you picture [laughter] that and you take into account this graphic here, you know, all this just becomes negative negative negative negative. And that is what the real people actually feel in the economy. Obviously, the government, they have a reason that they want to lie to you about inflation, but this affects people's living standards just beyond what they even imagined. It's way more important than immigration. It's way more important than a lot of issues that are pushed to the front is just reforms around how statistics are created. And I know that's boring. I'm sorry for the little side tangent there, but I believe it's so important because if people actually understand that and they say, "You know what? If we just change that inflation data and it was realistic, monetary policy would be realistic. We'd [snorts] actually be working with data that was actually real, and then they would have to keep that inflation low for people because their wages are declining with the real rate of inflation, not the fake ones. The fake ones are immaterial. They don't mean anything. So, anyway, the GDP report breakdown by industry here, you can see that mining and oil and gas extraction was down, but that'll probably be up in the next report. You got agriculture that was down as well. And pretty much the only things that were up slightly were manufacturing and wholesale. And then pretty much everything else flat.

[00:14:33]Retail was down. Construction, obviously, down. We've been watching those jobs like a hawk. And if you want to be on those live streams where I go through the jobs reports, I do them every single month. So, yeah, it's absolutely insane.

[00:14:51]And I think we got a super chat. I just caught that. Thank you ever so much for your support. The purpose of Connie's Canada strong fund is to stop Canada >> [laughter] >> short.

[00:15:03]Oh, that is absolutely hilarious. And thank you so much for your support. But yeah, pretty much because whole all his investment interests are in the US.

[00:15:13]Everybody knows that. Brookfield has been moved to the US. And I mean, who would want like who is going to say, "Let's have Larry Fink as the president of the United States? Like the World Economic Forum guy from BlackRock. I mean, that's essentially what Canada where Canada is at right now with Brookfield cuz Brookfield BlackRock, I mean, they are essentially the same thing. And then this is a little bit more of a breakdown here. So is the last time it entered a technical recession since the I'm not going to say that word because it's not YouTube friendly, but since the pandemic in 2020 and you can see how it's down 1% contraction in Q4. This marks two straight quarters of GDP contraction for the first time in 6 years. The crazy thing about this is the economists had actually forecast 1.5% worth of growth and it came in negative. So I mean all these economists that are paid big money just got their ass handed to them and maybe that explains. If you didn't see the live stream yesterday, you really need to go watch that after this because really, I mean, now we probably know why all those bank stocks were down because all the banks reported record earnings and they're reducing their provisions for credit losses like everything's fine. The cycle has ended and then boom, Friday smack in the mouth, Canada's in a recession even though obviously this is backward looking data here. So again, you could just see on those charts there of what's going on. I mean, it's absolutely crazy when you really think about it, but it's not just Canada that is experiencing massive economic pressures and that's the thing. It's like the global economy right now is in free fall. You've got the private credit situation that is also unfolding in the shadows that a lot of people don't know about And you see this, foreign investment in Germany has declined again. You know, Canada was on the headlines just a few weeks ago about this. And you know, another thing I want to show you here is Canadian active business count falls to a 28-month year low. And this is the number of active businesses. So, it's not even adjusted for the population.

[00:17:41]So, I mean, you're going all the way back to like 2023 levels, but how many more millions of people have been entered since then? So, I mean, it's absolutely crazy when you think of the numbers on a per capita basis. And like people don't want to start a new business. And if they're going to start a new business, they get they GTFO out of Canada to keep it YouTube-friendly there. So, I mean, that's really what happens. And you can see, I mean, this is just gone straight down. So, you know, Mark Carney is doing a fantastic job. And you've got TD Bank that is also sounding the alarm essentially on what's going on. And now, I want to show you this because unbelievably, I saw this and I was shocked because even Tony Blair, who's like a UK left-wing politician, is even calling out net zero. I mean, take a listen to what he says.

[00:18:40]>> Tony, I think we've got to to change.

[00:18:42]So, I particularly identify the you know, the very large sum of money we're spending on on net zero, which I I just don't think is the right priority for the country now.

[00:18:52]>> Yeah, and and did you you you call on the government to halt the net zero acceleration and prioritize cheap energy over clean energy? So, so just for for total clarity, are you advising Keir Starmer to rip up Ed Miliband's green energy targets, for example?

[00:19:06]>> Uh yes, I am because and I'll tell you exactly why. And it's not that I'm against um renewable energy, clean energy, and it's not that I'm a climate denier, but it's just it's coming to terms >> It's It's coming to terms with common sense is what it is. And I mean, Canada is full pursue of the net zero agenda.

[00:19:29]It's an even smaller economy than the UK. So, the UK's a much bigger economy.

[00:19:36]And you've [laughter] now got left-wing politicians like Tony Blair who was saying, "Just get rid of it. Scrap it."

[00:19:42]And for good reason. I mean, you can't really disagree with anything this guy says in this clip. Obviously, it'll be linked below as always. Everything always is. So, you know, it's just completely crazy. And I could imagine I could certainly imagine Trudeau being, you know, of no moral compass at all. He could come out in a few years and say, "Yeah, uh net zero? It's a load of garbage. We shouldn't be spending money on that."

[00:20:10]>> [laughter] >> I mean, I can imagine him doing something like that because these virtue signaling hypocrites, I mean, they just do whichever way the political wind is blowing at that time. But, the reality is people are really struggling and this doesn't even show the full picture. What this should say is Canada enters a recession as inflation is still going on. It's still accelerating.

[00:20:39]So, Canada is entering a recession while inflation is accelerating, unemployment rate is accelerating. I mean, those are not good things to have all happening at the same time. And it is no wonder all these viral videos keep becoming viral videos that you see on X, you see on YouTube shorts, Instagram reels. I see them all the time. And basically, they're all the same thing, the economic struggles. But, why do they go viral?

[00:21:08]It's because people sympathize with these people because they're going through the exact same thing. People are just struggling. I know many people who are just working two jobs or working like a dog just to make ends meet, and it's not good. I see it in the comments all the time as well on these videos, and it's just it's just a nightmare.

[00:21:30]People are living in their cars and going to work. I mean, it's absolutely crazy. Like Canada is essentially becoming a third world country, and that's the reality of what's going on here. Anyway, guys, I want to thank you so much for being on this live stream.

[00:21:47]If you've enjoyed it, please check out this one right here. If you want to help support the channel, check out the links in the description below. Thank you so much for being on this. Please hype the video, like the video, do all that good stuff. Have a great weekend, and I will see you in the next one. Take