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Canada's signed two Faustian bargains - one with the resource extraction economy, and one with the real estate sector. Neither one is long-term sustainable. Ev
by vkou 3y ago
Canada's signed two Faustian bargains - one with the resource extraction economy, and one with the real estate sector.
Neither one is long-term sustainable. Eventually, the oil will be dug out of the ground, and eventually, it won't be able to endlessly generate paper value by trading rat-infested outhouses in Vancouver back-and-forth for 5 million/pop.
It has other exports[1], but they aren't the engine of Canadian economic growth.
[1] (Insert lame joke about how its biggest export is SWEs to the United States.)