OMG : WASP and other English Canadians on immigration are blowing on the embers of intolerance
More and more English canadians from the rest of Canada (ROC) are speaking openly about the immigration problem. Last week, two National Bank's economists wrote or talked-about a "population trap"
Weeks before, Derek Holt a Scotia Bank economist, spoked on excessive immigration.
Not so long ago, everytime Québec's politicians (PQ and CAQ) spoked for a limitation or reducing the immigration's numbers, they were accused of "souffler sur les braises de l'intolérence" which means kindling or blowing on the embers of intolerance.
Before, ROC was turning a blind eye on the immigration problem. Now eyes are opening.
OMG !
Published on:
20 Dec 2023, 10:38 am
Extract :
A Scotiabank economist says “excessive” immigration means many people will have nowhere to live, feeding inflationary pressures and making a spring interest rate cut a foolish policy.
Derek Holt, vice-president and head of capital markets economics at Scotiabank, used his December 19 commentary to disagree with market analysts, federal policy and even the Bank of Canada (BoC).
“Markets are still attaching significant probability to a March cut and are fully pricing a cut by April,” Holt wrote.
“Sorry but I just can’t hop on the bandwagon. In my professional opinion, November’s core inflation readings leaned more toward continued hike risk than toward market pricing for a cut by March/April.”
Holt said mass immigration was driving up the prices of everything.
“Immigration is excessive, full stop. Canada just added about 431k people in Q3 alone (here). That’s like presto, here’s a new city of London, Ontario created in one quarter. Or almost a new City of Hamilton. A 1.1% quarter over quarter (q/q) nonannualized increase in population in one quarter. StatCan noted that even just the first nine months of this year exceeded population growth for any other year since Confederation in 1867,” Holt noted.
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