(Ken Silva, Headline USA) As Treasury Secretary Janet Yellen and other officials continue to insist that the U.S. economy is booming, America’s neighbors to the north are apparently prepping for a deep recession that could lead to civil unrest.
According to the Canadian newspaper National Post, a heavily redacted “secret” police report has been released, warning an impending spike in “popular resentment” due to its dim economic situation.
“The coming period of recession will … accelerate the decline in living standards that the younger generations have already witnessed compared to earlier generations,” said the Royal Canadian Mounted Police report, entitled Whole-of-Government Five-Year Trends for Canada, which was reportedly made public via an access to information request filed by a university professor.
“For example, many Canadians under 35 are unlikely ever to be able to buy a place to live. The fallout from this decline in living standards will be exacerbated by the fact that the difference between the extremes of wealth is greater now in developed countries than it has been at any time in several generations,” the report added.
“In the words of Emanuel Macron, we are about to see ‘the end of abundance.'”
The report also warned of the dangers of climate change, and the continued erosion of trust in public institutions, which stems from Canada’s draconian COVID-19 policies. And just like many federal government agencies in the U.S., the RCMP expressed concern about the specter of “disinformation.”
“Law enforcement should expect continuing social and political polarization fueled by misinformation campaigns and an increasing mistrust for all democratic institutions,” the report stated.
The National Post noted the irony that the RCMP lamented a lack of public trust while redacting much of the report—including the section on “erosion of trust.”
The newspaper also cited some dismal economic statistics to validate the RCMP’s expressed concerns.
Canadian productivity — measured in terms of GDP per capita — has been trending downwards since at least the 1980s. But this has accelerated dramatically in recent years — even as per-worker productivity rises in many of our peer countries,” the National Post reported.
“Meanwhile, housing affordability has reached “worst-ever” levels in most of Canada’s major markets … On average, even condos are now so unaffordable that only 44.5 per cent of Canadian households had sufficient income to buy one at current prices. As for single-family homes, only the richest 25 per cent of Canadian households had any hope of obtaining one.”
Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.
