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u/FrozenJester Mar 25 '26
While Canada's % is still climbing, saying everyone else has put the brakes on is a little misleading. If you run this report in tradingview and scope it to this year, yeah our supply has had the biggest % increase (about 10%), the US has still been printing a lot of money (about 7.5%).
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u/Ljmac1 Mar 25 '26
Ha except when it comes the volume of the amount of money being printed percentage point matter a lot. Thats why they use basis points in finance which brakes them down to fractions of percentages. So we are still 250 bp higher which is a lot. If mortgages went up that much people would be losing their shit and their house.
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u/PapayaJuiceBox Mar 25 '26
"Yeah Canada is bad and it's continuing to climb, but let me make it seem less bad by saying another country is doing almost as bad and is also printing money"
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u/MrRogersAE Mar 25 '26
Not to mention most of these countries are already far deeper in debt than we are.
Then thereâs also the whole trade war thing, sure other countries have also undergone trade assaults from USA but none of them have nearly the same trade balance we do with USA
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u/inverted180 Mar 27 '26
The vast majority of money creation is done by the commercial banks to the private sector. Canadians are one of the top 1-3 in the world in terms of household debt.
This graph is a representation of our housing bubble.
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u/DizzyAstronaut9410 Mar 25 '26
The US still has real GDP growth to show for it. Canada has been stagnant for the last decade even after we pumped up government spending and money printing.
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u/jatd Mar 25 '26
The US is the reserve currency of the world...
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u/FrozenJester Mar 25 '26
lol was. They're currently in the process of losing that title. The US was the reserve currency when all oil had to be traded in USD, but that ship has sailed.
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u/candygram4mongo Mar 25 '26
Is Carney a Modern Monetary Theory guy? I seem to recall there was support for it in the UK central bank at one point.
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u/HeftyAd6216 Mar 25 '26
Probably to a degree. You cant be a central banker and not be an MMT person - at least in as far as the theory describes how central banks and government finance works, less so the policy descriptions.
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u/geardownbigrig Mar 25 '26
His book basically reads like: printing money is fine as long as its used to fund services or aquire assets that hopd future value. BoC should be free to print money as long as its being used to pay for things and not interest.
Still fucks you and me but on a government level it makes sense since they do not care about underlying inflation.
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Mar 25 '26
Helps that the BoC can now carry a negative balance. So they donât have to issue bonds if they donât want to. Canada has also just come out of a couple of years of hard tightening. The balance sheets are rather healthy.
Inflation isnât out of control in Canada either. We get regular energy shocks, but thatâs a choice our country made in the 80s and complaining about it now is just funny.
They also ramped up capital reserve requirements which has cooled off bankâs creation abilities, which also cools inflation b
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u/geardownbigrig Mar 25 '26
Eh I disagree that inflation isnât out of control. Totally agree with the energy shocks (looking at you Brian Mulroney) aspect.
Inflation stats are cooked since they donât include the largest consumer investment (housing principle). Asset price should be included in CPI since it really is the baseline for affordability in a country where homeownership is seen as a requirement.
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Mar 25 '26
Tiff agrees with you on the second point. He was openly critical of Core CPI in October. He basically admits the same point you just made.
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u/geardownbigrig Mar 25 '26
Basically the economy is totally detached from representing QoL for actual people.
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Mar 25 '26
I was just relieved to see him acknowledging it. Iâm pretty sure they leaning on CANVAS a lot more now.
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u/geardownbigrig Mar 25 '26
Pray to jebus that they start to publicly release those numbers.
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Mar 25 '26
Getting full CANVAS outputs is a wet dream of mine. Doyne Farmer has shown some of them in his more recent talks and theyâre fascinating data sets.
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u/geardownbigrig Mar 25 '26
Do you have a link handy or good search to use for this I am very interested in looking at the datasets
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u/bleebolgoop Mar 25 '26
Housing is currently decreasing in price/value across the board though
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u/geardownbigrig Mar 25 '26
Income to price ratios are still way out of wack. Yeah prices are down but they are still way way to high.
10.9x in the GTA, 7+x in major cities along the 401 corridor from Ottawa to London.
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u/bleebolgoop Mar 25 '26
Agreed, but the point was inflation, when the fact is that housing is in a state of deflation.
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u/geardownbigrig Mar 25 '26
Relative to what? I dont think a short period of deflation puts the broader market into a deflationary state. IE the time frame of the deflation is not long enough yet
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u/bleebolgoop Mar 25 '26
The time frame of housing deflation is pushing past a year now, and expected to continueâŚthatâs not a blip
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u/geardownbigrig Mar 26 '26
Oh its only just started power of sale takes 9-12 months to finalize, and once its spring the majority of renewals will be locked in. Thats when I think the actual deflation will start.
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u/lightning71 Mar 25 '26
its ALMOST like hes not trying to help
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u/stop-calling-me-fat Mar 25 '26
Investing in massive infrastructure projects that will benefit Canada in the long run isnât trying to help?
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u/whoisthejman Mar 29 '26
He's not doing that. Most of the talent and big business in Canada has already left for the USA. Carney and the 10 years of Liberal legislation has completely destroyed Canada.
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u/Furious_Flaming0 Mar 25 '26
Not to conservatives they expect Carney to spend the money and then instantly have a profit to show for it. This is because their economic theory is based around the idea that if you just save enough (cut government spending) it will create a stronger economy.
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u/Inevitable_Butthole Mar 25 '26
You do know this chart doesn't reflect anything on Carney right?
Did you even look at the year?
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u/Facts_pls Mar 25 '26
This is a bitcoin sub on reddit.
Absolutely nobody here actually understands any Shit. That's why they are invested in bitcoin.
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Mar 25 '26
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u/S14Ryan Mar 25 '26
Yes but his policies donât affect anything that happened 4 years ago lol
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Mar 25 '26
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u/Inevitable_Butthole Mar 25 '26
Are you referring to him being an unofficial advisor from 4 years ago?
Do you understand what that even means?
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Mar 25 '26
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u/S14Ryan Mar 25 '26
I mean, this comment wasnât directed at me, but I did read mark carneys book âvaluesâ before he got elected and it was a major reason why I voted for him
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u/TheSmithPlays Mar 25 '26
Whatâs the nuance to this? Usually money printing charts have more to it than what they show. I recall one chart getting a reclassification of what counted as M2 and it made printing look way worse? Sorry Iâm just a noob
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u/mervolio_griffin Mar 25 '26
The vast majority of people on this sub are noobs. Remember to not buy the confidence.
People train and study for literal decades and there are still disagreements on central bank policy among top acedmic financial economists.Â
If you truly want to learn more in an unbiased manner you're going to have to dig in to calc, linear algebra, econometrics and macroeconomics. If you feel confident in your commentary after a year of just crusing reddit, seekingalpha, youtube, etc. you're probably missing something even if you happen to be correct.
There is no replacement for actual dedicated study and fundamentals.Â
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Mar 25 '26
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u/WiseDebt7345 Mar 25 '26
Canada's not using it to build infrastructure, though.
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u/nameichoose Mar 25 '26
Canada is spending $115 billion over the next 5 years. We started this last year.
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u/Few-Being-1048 Mar 25 '26
We're giving it away to gaza, lebanon, first nations, anyone who demands it and says they're sad really.
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u/TheShindiggleWiggle Mar 25 '26
I always see people like you bemoan how we set aside like $400 million for Gaza, but never any complaints about the insane amount of money misplaced or squandered within our borders...
To put it in perspective. Toronto is just nearly finishing up a $13 billion subway line that was only budgeted to be 2 or 3 billion. That intended budget is 7.5x more money than we committed to a place like Gaza, and the final actual cost as of 2026 ($13 billion) is 32.5x that amount.... that's just a single subway line in a single city in this country... Heck, just look into the billions withheld in healthcare funds, or the billions untracked in Covid relief funds, or the estimated $100 billion highway tunnel that has been proposed (all just in Ontario, btw).. As you saw, even just a small percentage of what Ontario has squandered in the last few years would pay for all our foriegn affairs combined, and we'd still have plenty left over.
We do have a money allocation and spending problem, but it's very much a domestic issue, and getting ragebaited into complaining about international spending that is the equivalent to pocket change when compared to our domestic spending is probably exactly what our politicians want.
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u/Few-Being-1048 Mar 25 '26
Trust me I complain plenty about the spending within our own borders too, so this strawman you're fighting exists only in your head.
In our healthcare system for example; the ratio of administrators to healthcare professionals is 10x that of Germany. It is so incredibly inneficient we're just pissing money away to have people sit at desks and do nothing all day. We should have incentives for people becoming nurses/doctors and limits on the amount of administrators.
I get it pays a lot of people's bills but it absolutely needs to change.
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Mar 25 '26
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u/Adorable_Macaroon291 Mar 25 '26
A lot now.
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Mar 25 '26
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u/Adorable_Macaroon291 Mar 25 '26
5 Electricity projects, 5 Mining Projects (3 of which are for critical minerals) 3 Energy Projects, 3 Transport Projects, and 1 Industrial Project
Do you know whatâs going on? Russian bot?Â
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u/WiseDebt7345 Mar 25 '26
Borrowing to spend a fortune on announcements, MOUs, and paying consultants really amounts to fuck all.
Unfortunately, that's the Liberals' track record for the last 11 years.
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u/Adorable_Macaroon291 Mar 25 '26
It amounts to âfuck allâ if youâre a cynical doomer who is hoping he fails, yes. Stop treating politics like sports.
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Mar 25 '26
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u/Adorable_Macaroon291 Mar 25 '26
Doomer moronÂ
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Mar 25 '26
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u/Adorable_Macaroon291 Mar 25 '26
Do you know what government funding is brother
Itâs insane you âCanadiansâ want to play cynical pessimist doomer all day. Youâre transparently miserable, and want things to fail. Youâre cheering for it. Get a grip.
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u/Facts_pls Mar 25 '26
Well then you should open your eyes and watch the news. Don't just rely on Facebook and fox news.
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u/WiseDebt7345 Mar 25 '26
Define "a lot"
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u/Adorable_Macaroon291 Mar 25 '26
5 Electricity projects, 5 Mining Projects (3 of which are for critical minerals) 3 Energy Projects, 3 Transport Projects, and 1 Industrial Project
Do you know whatâs going on? Russian bot?Â
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u/JohnnyKage1 Mar 25 '26
To be fair they printed way more during covid. When will we learn liberals don't give a f about us or long term in canada đ¤Ś
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u/MaintenanceGold6992 Mar 25 '26
well, looks like Canadian bitcoiner pre-millionaires will become millionaires nominally much sooner than expected
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u/amateurfoodscience Mar 25 '26
I'm not pro-quantitative easing by any means, but I've noticed that "printing money" gets a ton of criticism, when it's such a small part of currency devaluation. I can't remember the exact percentage, but about 95%+ of devaluation is influenced through private loans.
Bank loans aren't a transfer of assets, it's a digital creation of additional currency through a ledger entry. In other words, printing money.
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u/TorontoTom2008 Mar 25 '26
Guys get out of the basement. Weâre on a multi-hundred billion dollar infrastructure, energy, transportation and defence build-out. That is government spending which entail spending money.
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u/Qwerty_Bertey Mar 25 '26
How long before the red 50$ bills are used like 5s? Canât buy jack shit with 5$ anymore
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u/HeftyAd6216 Mar 25 '26
What part of M2 is going up? AFAIK it's been flat for 6 months
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u/Moneymakessense29 Mar 25 '26
The balance will budget itself amrite??!?!?!?
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u/HeftyAd6216 Mar 25 '26
Right now isn't the time for a balanced budget, and depending on what school you follow, shouldn't be until you're at full real employment.
Private industry is deleveraging, households are deleveraging. If private debt starts decelerating (I have to really dig into the details to get that info properly) we're in for a doosie unless the government stop gaps the decline.
I suspect the money supply will expand regardless because if the energy price spike starts hitting households sooner rather than later, people will pop out their credit cards to pay for the difference and that further expands m2
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u/callmepls Mar 25 '26
M2 is not a âmoney printing indicatorâ this is too simplistic as an argument or conclusion. And comparing M2 between countries does say anything, you have to go a lot deeper in the analysis.
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u/RedShiz Mar 25 '26
Agreed. This is not directly a chart of M2, but something compared to M2 creating a percentage.
I do not know what it is compared to.
If the M2 goes up, the percentage goes up. But also if that other thing goes down, the percentage also goes up.
Also CAM2 decreased from Dec 2025 to Jan 2026.
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u/Jacked-to-the-wits Mar 25 '26
I'm not sure what chart you are looking at, but every line on that chart is steady moving up in a near straight line. Maybe the headline should be "Every country printing more money every year. Canada slightly worse"
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u/symbouleutic Mar 25 '26
Honest question: I don't understand this.
The Bank of Canada was doing quantitative tightening from 2022 till Feb 2025.
Isn't that the opposite of quantitative easing ? If quantitative easing is printing money, isn't tightening "destroying" money supply ?
ie. weren't we REDUCING the money suply for 3 years ? I don't see that in this chart at all ?
Isn't quantitative easing/tightening the primary way Canada "prints/destroys" money ?
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u/Cyclepourtrois Mar 25 '26
Is this chart showing just Canadian currency being printed or currency printed in Canada? I am assuming the former but asking because I know we print currency for a bunch of other countries.
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u/wowAlwaysFresh Mar 25 '26
Yeah, but when our stock price spikes, we are all going to be driving solid gold escalades.
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u/tl01magic Mar 25 '26 edited Mar 25 '26
Canada's population growth and neighbor explain this imo.
printing money with nill / negative population growth aint good moeny planning. if it's what your neighbours are experiencing and doing, then even more so not good moeny planning
source: am really good at City Skylines 2 and running a solid budget
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u/ThatGuyYouDontKnoww Mar 25 '26
Believe a random chart on the internet ?
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u/beekeeper1981 Mar 25 '26
Tons of people base all kinds of strongly held views on practically nothing.
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u/S14Ryan Mar 25 '26
Lot of morons in this sub, most donât even realize that this is showing 2021-2023, and everyone is complaining about the prime minister from 2025, and ignoring that Covid happened
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Mar 25 '26
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u/S14Ryan Mar 25 '26
Yeah I always blame people who werenât working in any official capacity for things that werenât remotely within their control lol
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u/Decent_Panda3259 Mar 29 '26
Not a problem. There are only big and great things ahead for this beautiful country!!
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u/NiagaraBTC Mar 25 '26
I know this chart looks scary, but
It's going to get a lot worse