Translation: After months of losses, seasonal summer hiring + government bloat delivers one decent print. We're 'building' like a guy who burned down the house and brags about the new deck on the remaining shed.
Context: Two straight quarters of GDP contraction = technical recession.
Unemployment still at 6.6% (painfully high by historical standards).
Youth unemployment? Cratering. Real wages? Stagnant under inflation.
Record food bank usage and 12 million on the rebranded GST credit you just called a 'new Groceries Benefit.'
This isn't recovery. It's the economic equivalent of celebrating your car starting after flooding the engine — while ignoring the smoke pouring from the hood.Classic Carney: Central banker alchemy — massage the monthly noise, declare victory, hope no one checks the trend.Canada isn't 'building again.'
We're patching leaks on a ship you helped steer into the iceberg. Next month's print will be the reality check. Pass the popcorn.
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Mark Carney@MarkJCarney
Canada is building again — and Canadians are seeing the results.
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