Canada’s “growth” is a lie. It’s manufactured — propped up by mass immigration, reckless credit creation, and government-backed lending that shields banks while dumping risk onto citizens.
Between 2015 and 2025, our population exploded by 14% — 98% from immigration — yet productivity flatlined. Real GDP per capita is 10–12% below 2019 levels, one of the worst in the G7. We’re not getting richer — we’re just packing more people into a sinking boat.
This isn’t growth. It’s statistical theatre for the politicians and profit for the banks.
RBC’s “Newcomer Advantage.” Scotiabank’s “StartRight.” TD’s “New to Canada.” All offer easier credit than actual Canadians get — mortgages with minimal documentation and as little as 5% down, backed by taxpayer-funded CMHC insurance. The banks get government-guaranteed profits. Citizens get crushed under record debt — 175% of disposable income, the highest in the G7.
CMHC was supposed to help Canadians buy homes. Now it props up GDP optics and keeps the credit bubble alive. Ottawa calls it “stability.” It’s actually moral hazard on a national scale.
When CMHC insures these newcomer loans, the risk shifts to the public. You pay when it blows up. It’s the same “stakeholder capitalism” garbage pushed by the IMF, OECD, G7, and the World Economic Forum crowd — with Mark Carney leading the charge. Private capital wins. The government absorbs the risk. The people lose.
Immigration has become an economic input and a political tool — feeding GDP stats, boosting tax intake, and reshaping voter demographics. Ottawa gets its “growth,” while provinces drown under housing shortages, infrastructure collapse, and resource strain — like Alberta’s 2025 teachers’ strike that erupted under the weight of runaway expansion.
Winners: banks, insurers, developers, and Ottawa’s debt machine.
Losers: everyday Canadians watching affordability die, ownership vanish, and debt explode.
The system could rebuild stability. Instead, it’s used to manufacture illusions.
If Canada doesn’t pivot — fast — from population pumping to productivity-driven growth, we’ll keep “growing” on paper while real Canadians fall further and further behind.