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  • Rental Wage in Canada July 18, 2019
    Our new report maps rental affordability in neighbourhoods across Canada by calculating the “rental wage,” which is the hourly wage needed to afford an average apartment without spending more than 30% of one’s earnings.  Across all of Canada, the average wage needed to afford a two-bedroom apartment is $22.40/h, or $20.20/h for an average one […]
    Canadian Centre for Policy Alternatives
  • Towards Justice: Tackling Indigenous Child Poverty in Canada July 9, 2019
    CCPA senior economist David Macdonald co-authored a new report, Towards Justice: Tackling Indigenous Child Poverty in Canada­—released by Upstream Institute in partnership with the Assembly of First Nations (AFN) and the Canadian Centre for Policy Alternatives (CCPA)—tracks child poverty rates using Census 2006, the 2011 National Household Survey and Census 2016. The report is available for […]
    Canadian Centre for Policy Alternatives
  • Fossil-Power Top 50 launched July 3, 2019
    What do Suncor, Encana, the Royal Bank of Canada, the Fraser Institute and 46 other companies and organizations have in common? They are among the entities that make up the most influential fossil fuel industry players in Canada. Today, the Corporate Mapping Project (CMP) is drawing attention to these powerful corporations and organizations with the […]
    Canadian Centre for Policy Alternatives
  • Tickets available for Errol Black Chair Fundraising Brunch 2019 June 26, 2019
    You are invited to CCPA-MB’s annual fundraising brunch in support of the Errol Black Chair in Labour Issues.  Please join us to honour: Honoured Guest: John Loxley is Professor of Economics at the University of Manitoba and a Fellow of the Royal Society of Canada. Guest Speaker:  Jim Stanford is Economist and Director of the Centre […]
    Canadian Centre for Policy Alternatives
  • The fight against ISDS in Romania June 24, 2019
    CCPA is proud to co-sponsor this terrific video from our colleagues at Corporate Europe Observatory. It chronicles grassroots resistance to efforts by Canadian mining company Gabriel Resources to build Europe’s largest open-pit gold mine in a culturally rich and environmentally sensitive region of Romania. After this unimaginably destructive project was refused by the Romanian public and courts, the […]
    Canadian Centre for Policy Alternatives
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The Stock Market and Canadian Economic Performance

Glancing idly at the numbers, I find to my slight surprise that the Canadian stock market (S&P/TSX) is now down about 25% from the May, 2008 peak, whereas the US stock market (S&P 500) is down by only about 10% from its peak in May, 2007. So, since the beginning of the crisis, owners of  US corporations have done significantly better than owners of Canadian corporations.

I don’t want to argue that stock market performance is a very useful barometer of real economic performance. Still, this factoid is more than a little at odds with the conventional view that we are doing much better than the US, that our fundamentals are great, that resource dependency is a blessing and not a curse etc etc.


Comment from Anthony
Time: May 17, 2012, 9:52 am

Time does not stand still–your calculations need to be adjusted for inflation. A rough calculation suggests that the US market has lost about 20% of its value, and the TSX close to 30%. Neither has performed well.

Comment from Brandon l
Time: May 19, 2012, 11:46 am

The US is nominally doing great, leading wealth to the top%1, as inflation clearly has benefited them over everyone else. Income Inequality is not being caused by a decrease in the general price level of goods and services. Its being caused by rising prices without wages which are concentrating wealth to the few hands as Donald Trump. The short sighted view on aggregate demand, is leading to distortions in prices & wages we have not seen since the 70s.

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