Brian Crombie Radio Hour - Epi 1538 - Canada’s Economic Reality Check: When Confidence Becomes the Risk

In this episode of The Brian Crombie Radio Hour, Brian Crombie brings together two essential conversations about Canada’s economic future — and a quieter danger we often overlook: complacency. In Part One, Brian is joined by Charles St-Arnaud, Chief Economist at Servus Credit Union, for a clear, data-driven assessment of why Canada’s economy has been underperforming and what 2026 may hold. They unpack falling GDP per capita relative to the U.S., chronic underinvestment in productivity and innovation, the hidden costs of household debt and housing-driven growth, and why population growth alone won’t fix Canada’s economic challenges. It’s an honest look at what’s holding the country back — and what must change to restore long-term prosperity. In Part Two, Brian offers a closing commentary on a recurring lesson from history: the most dangerous moments in markets and economies often come not from fear, but from certainty. Drawing on examples from 1929, the tech bubble, and Toronto’s condo boom, he explores how overconfidence, leverage, and unchecked optimism can quietly outrun fundamentals — and why progress must be balanced with humility, not hype. A thoughtful, sober, and timely episode for anyone concerned about Canada’s economic direction — and the risks we don’t like to talk about.