Canadian families and workers are struggling right now, and it is down to the Trudeau economy. The wage growth in the country is at an all time low, while taxes are being raised, and when inflation adjustment comes into the picture, you find out that it is actually Canadians, who are getting weaker every single year! Everyone is generally struggling in this economy, apart from one industry, the Canadian banking industry.
While everyone else is having a miserable time, they are the ones that are making record profits, and even when it was highlighted that the banks were taking money from Canadians by implementing unethical practices, Justin Trudeau remained silent on that issue. Bloomberg has reported that banks in Canada are experiencing their best period for some time, and they intend to make hay, while the sun is shining on them.
The banks don’t share sympathy with the middle class, because they are unaffected by the economy at this current moment in time. However, most people are not worried about Canadian banks having their time in the sun, because if the banks do well, the economy will also pick up. However, that doesn’t seem likely to happen, because in the current economy, the middle and lower class citizens are stuck with stagnant wages, but the banks keep on getting richer.
This won’t be sustainable for long, and will see the entire economy come crashing down, unless something drastic is down to correct the disastrous economic slide. No one is surprised to learn that banks are the ones profiting the most in this economy, because Justin Trudeau has made it his agenda to do what’s best for the elites, while hasn’t lifted a finger to help Canadian workers and families.
The situation doesn’t look like it will change in the near future as well, because the banks won’t be hurt by the carbon tax, but the rest of the Canadians will definitely suffer from it.