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Posts Tagged ‘PPP’

From the June 2, 2016 episode of TVO’s the Agenda with Steve Paikin, the guest, claimed, 2 minutes in, that a report on mental health costs said that the annual cost due to lost productivity in Canada was $51 billion, and is projected to go into the trillions in 30 years. Given that Canada has a current GDP (PPP) of $1.6 trillion, that would be 3% of the economy in annual costs today, yet it’s supposed to go up to at least $1 trillion, when, in 30 years, the GDP will be $2.9 trillion (given a highly generous growth estimate of 2% annually), and the cost will be at least 34% of GDP?

The host had every reason to shocked by the claim. And, folks, just because it’s on a serious television program, doesn’t mean you shouldn’t immediately spot the claim as patently bogus.

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According to the IMF’s World Economic Outlook Database, October 2009, NAFTA (United States., Canada, Mexico) regained the distinction of being the largest trading bloc in the world for 2009 by nominal and PPP GDP, and is projected to stay that way until at least 2014.

NAFTA: $16.451 trillion USD by nominal GDP and $17.279 trillion USD by Purchasing Power Parity (PPP)
EU: $16.190 trillion USD by nominal GDP and $14.851 trillion USD by Purchasing Power Parity (PPP)

This, despite the EU having a larger estimated population in July 2009 of 491,582,852 with the NAFTA-member countries at a population of 451,911,120.

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