Canada is headed for a 'severe' and 'almost inevitable' recession in early 2023, according to the head of economics at Macquarie Group, which states Canada will face an approximately three per cent contraction in gross domestic product and a five per cent rise in its unemployment rate during the predicted recession.
Holy shit, thank you so much for taking the time to explain all of this! Economics just seems purposefully complex to me and yet you illustrated it for me to understand.
This also reminds me that I saw something today about how businesses are going to start creating mass unemployment due to workers wanting respect, and because of the manufactured mass unemployment it’ll make people desperate for a job even if it pays poverty wages. I believe the video was talking about the US specifically but it would probably apply to Canada as well considering we’re so linked, and not just geographically.
I’m hoping this will help more people gain class consciousness. As someone on provincial disability aid inflation has hit HARD. Many disabled people have been vocal about all these problems but now that it’ll start affecting even more people directly and in their face we will hopefully see some sort of change.
No problem, glad that was helpful. And yeah, creating a more desperate work force is how they want to address the economic crisis. This is what Marx referred to as the reserve army of labour. Capitalist society requires unemployment to keep worker demands down.
We’re definitely seeing people develop more class consciousness now, and conversations about socialism are starting to move into the mainstream Overton window. One bright example is CUPE having record unionizaiton drive this summer. Unions are the first step towards having organized labour.
Holy shit, thank you so much for taking the time to explain all of this! Economics just seems purposefully complex to me and yet you illustrated it for me to understand.
This also reminds me that I saw something today about how businesses are going to start creating mass unemployment due to workers wanting respect, and because of the manufactured mass unemployment it’ll make people desperate for a job even if it pays poverty wages. I believe the video was talking about the US specifically but it would probably apply to Canada as well considering we’re so linked, and not just geographically.
I’m hoping this will help more people gain class consciousness. As someone on provincial disability aid inflation has hit HARD. Many disabled people have been vocal about all these problems but now that it’ll start affecting even more people directly and in their face we will hopefully see some sort of change.
No problem, glad that was helpful. And yeah, creating a more desperate work force is how they want to address the economic crisis. This is what Marx referred to as the reserve army of labour. Capitalist society requires unemployment to keep worker demands down.
We’re definitely seeing people develop more class consciousness now, and conversations about socialism are starting to move into the mainstream Overton window. One bright example is CUPE having record unionizaiton drive this summer. Unions are the first step towards having organized labour.