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GDP

Canadians Are On Year Three Of A People’s Recession

October 16, 2025 James Hardwick, Canadian Dimension. , , , ,
A new Deloitte report is projecting 1.3 percent GDP growth for Canada this year. The same report says that as long as Donald Trump keeps the CUSMA carve-outs in his tariff plan—meaning that most of the goods we export to the United States won’t face tariffs—we can look forward to 1.7 percent growth next year. This would mark a return to the growth rates we saw in 2023 and 2024. Economists seem cautiously optimistic that Canada will avoid a recession and return to a period of relative stability. This should be great news. On paper, the economy has proved its resilience in the face of serious challenges. But why then do things feel increasingly precarious?

Corporate Landlords Are Taking Over Society, Making Life Unaffordable

August 11, 2025 Ben Norton, Geopolitical Economy. , , , , , , , , , , , ,
Landlords are taking over society. For many average working people, it has become impossible to buy a house. And the cost of renting housing has become prohibitively expensive. This problem is especially bad in the United States. But it’s not only a problem in the US; it’s a problem in many countries around the world — especially in Western countries in North America and Europe, whose economies have become financialized. In the United States, for instance, the largest landlord is not an individual; it’s a massive Wall Street investment firm: Blackstone, the private equity fund. Blackstone owned more than 300,000 rental housing units in the US as of 2023. The number has only increased since then. Blackstone and other Wall Street investment funds have been gobbling up residential housing. Then they ratchet up the cost of rent, which has fueled homelessness, as many people are being evicted from their homes.

GDP Shrinks By Record Amount In Second Quarter

July 31, 2020 Sylvan Lane, The Hill. , , ,
The U.S. economy shrunk at a seasonally adjusted annualized rate of 32.9 percent during the second quarter of 2020 as the first wave of the coronavirus pandemic spurred an economic collapse of record-breaking speed and size, the Commerce Department reported Thursday. Between April and June, U.S. gross domestic product (GDP) shrunk at a pace that would have wiped out roughly a third of the value of the economy if extended over 12 months, according to the Commerce Department’s advance estimate of second-quarter growth. It is the largest one-quarter plunge in economic growth since the federal government began reporting quarterly GDP data.  “This was the steepest decline since the start of the global financial crisis in 2008, when output shrank by 8.4%,” wrote Agathe Demarais, global forecasting director at The Economist Intelligence Unit in a Wednesday preview of the report. “The scale of the fall in the first quarter will be dwarfed by that in the second.”
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