Buried in the hoopla regarding the latest EV component plant being constructed in Ontario is one minor detail. Minor, that is, to everyone except those taxpayers who are going to receive the invoice. Not only is Ford not concerned about that, but he seems to believe that the bigger the subsidy invoice, the louder he can trumpet the news.
“I know between Ontario and Canada, we’re putting in hundreds of millions of dollars,” Ontario Premier Doug Ford said at a press conference on Wednesday morning. “I can’t divulge (how much), that would compromise negotiations with other companies going forward, but massive investment, hundreds of millions of dollars.”
Gee, quelle surprise. Blubber Douggie acting like flip-flopping piss-it-away socialist again. Wish we had had some indication of those tendencies before he got elected, eh?
Oh, wait a minute ….
https://toronto.ctvnews.ca/mobile/ontario-election-2018/doug-ford-reverses-his-plan-says-he-will-not-develop-on-greenbelt-1.3910587
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THE FORD REICH
“Premier Doug Ford is looking to permanently enact the additional tools for police officers, including the ability to impose roadside suspension of drivers’ licences and vehicle permits, seize licence plates when a vehicle is used in an illegal blockade and remove and store objects making up an illegal blockade.”
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$5 billion project
-$1.5 billion LG investment
-$1.5 billion Stellantis investment
= $2 billion balance (tax payer?)
For a peak of 2500 jobs.
Finish the math. $2,000,000,000 divided by 2500 jobs = $800,000 per job paid out by the tax payer. I did not ask, as a taxpayer, to “invest” in EV technology, nor was I ever approached by any member of any political party of any stripe and asked if I wished to “invest“. So my money is being pissed away without my explicit consent in a process called “taxation without representation”. Revolutions have been started over this kind of attitude. And notice that I as an “investor” receive none of the benefits of this “ investment” which would normally accrue called dividends. A job is not a return on investment either.
And again, no one in the media or the political apparatus criticizes or disagrees with this fundamental abuse of existing terminology for political gain. CUI BONO? Only Doug Ford and his political hacks. And it won’t generate 2500 jobs either as EV, at the moment, is a losing technology, and unsustainable in the long term except for the fraudulent embezzlement of public funds by politicians.
It gets worse too…
Bongo drums boys…
Da…da…da…da…daaaaaa…
The global supply system is no more.
https://www.zerohedge.com/markets/blackrocks-fink-says-ukraine-invasion-accelerates-esg-and-digital-currencies-shift
Will they even be able to procure enough materials to do a shovel breaking ceremony is in question too?
Everything that was global is in short supply or unavailable.
It was made illegal in Canada so…even this new facility is in question but the bucks being paid will still go out.
Damn China…damn made in China that’s stamped all over Canadians goods.
Maybe we can house some Ukrainian refugees in the empty building.
Like all those dark tanned Ukrainians from the deep South.
+++CC
That’s what I reached for a pencil and an envelope to figure out. $800K is a pretty hefty price to pay for a job. But then don’t assume that Stellantis or LG are putting all cash in. They probably are also getting tax reductions/deferrals that will reduce their outlay.
Don’t worry, they’re trying hard to get that down to under 1000, or 0.
How much do you think those 20,000 new civil servants hired by Justin cost the taxpayer, and these are parasites that will be on the take for years. It makes the investment in the battery factory look like chump change
It ain’t about the jobs.
It’s about the votes.
Ford never was a conservative, but some of us knew that back when he was running for the leadership of the PCPO. Of course, his competition was much worse, so we never were going to get Ontario back on its feet.
Reason #532 I won’t be voting for Thug Fraud again.
Or anyone who runs the party from his cabinet or caucus.
No spines, not one of them.
I’ll live through a few years of PCNDPLIBs to get another Mike Harris…
Kathlyn Wynne in a fat suit
A beautiful image for an election poster. Different day same lard barel economics.
As an American businessman involved with my Canadian partners, I was always taken aback at how my colleagues would passionately chase subsidies and grants from the government rather than pursue sales for revenue. It became clear how very different the cultural attitudes between capitalists and socialists are. It became obvious why the USA is so successful in business while Canadians languish in a moribund mediocrity. This is why Canada’s leading export is its best and brightest minds forever lost to Canada, while they are added to the great American experience and ideal to become the very best at what you can be. For one I cheer on Canada’s continued economic and cultural decline as it greatly benefits me and the people I care about.
Sadly John Q the democrats are chasing America down the same rabbit hole. An unpayable double digit trillion dollar debt and continued government intrusion in the market is choking business and unless the democrats and rinos are reined in they will crush America.
While you are correct in principle, it remains hard to be lectured to by people who are absolutely unwilling to recognize and diagnose their own pathologies. Why do Canadians always deflect, blame others and then change the subject? Isn’t that what women do? While the USA has quite a bit of debt, Canada has about 10x that amount of debt per capita. Ontario is the most indebted and financially underwater jurisdiction in Canada the US or Mexico. How are you going to retire that debt with that pathetic economy? So while I acknowledge our own foibles lets not forget who runs the world. The USA invents everything, makes the most money, and has the highest standard of living in the world while quietly and humbly providing the very security and economy that Canada does enjoy. America built and maintains Canada’s economy. The USA provides for Canada’s military security. America protects Canada’s sovereignty. America allows Canada to exist. Everything you have and will have is a gift from the American sovereign taxpayer. You would not be here if it was not for the USA. You would be Romania.
John as one who has family and at one time interests on both sides of the border I feel free to tell you to fuck off. I can no longer go to my perch in Florida and not just Canada has done that to me. I am sick of stupid. Canadians are as dumb as a bag of rocks. The failure of Canadian socialists to understand that 80% of their trade and income comes from the US is depressing to say the least, but you dumb assed bastards did not do a damn thing about a stolen election, and you fucking took the clot shots and wore masks until two states said enough, one being Florida. I am tired of bullshit and I am very old.
J Q P is a troll, ignore him.
We soon will be Trudeauslavia under Trudeauceu.
John Q:
Your entire economy (the Western world’s too) is based on poorly paid Chinese workers and cheap ocean shipping.
When you start building computers and smart phones and advanced microchips in the good ol’ USA then give us a call.
And once again my point is made. Valid points are ignored and not rebutted. Butthurt deflection is exercised and its somebody else’s fault. Responsibility shifted and America blamed. Check, check and check.
JQ, I addressed your points and you responded like a democrat.
The classic definition of fascism.
Who knew that every bad idea that Obama had would eventually find a home in Ontario’s Conservatives. When the fat guy is the lessor of the evils, I hate to see the alternative.
It’s solar panels all over again, they rape the tax payer to fund their pie in the sky green projects then once the money runs out the businesses fold and we are left with the mess and the cost of cleanup. Ford really is a closet socialist tyrant.
I long for the old days of the billion dollar nuclear boondoggles.
At least in the end we got something tangible out of it.
Politicians need to be stripped of their power. And unfortunately there’s only one way to strip politicians of their power.
If the citizens are paying, then they should get a percentage of the stock and dividends right up front.
In the U.S., we have our share of government giveaway boondoggles, Solyndra, for example, and sports stadiums. But local governments tend not to subsidize directly to get business, but rather give the company they are trying to attract a property tax break for X number of years. The thought is that the income taxes collected on the jobs is a net increase against the property taxes and sometimes it works out quite well if the company is successful and stays around awhile.
But, ha! When the tax break is due to expire, the company threatens to leave and the tax break is then usually extended to keep the company in place. If the local government is shrewd, it really is a win-win all around. But since when are most local governments really shrewd?
“investment noun (1). in·vest·ment | \ in-ˈves(t)-mənt \. Definition of investment: the outlay of money usually for income or profit.” – from Merriam-Webster. Note to Premier Ford: a new scheme for pumping yet another endless stream of subsidies into yet another black hole is NOT investment. It is cronyism. It is industrial policy via subsidy -always expensive, ineffectual and never-ending. Also, for all you other politicians out there, spending is NOT investment. That word does not mean what you think it means.
“You keep using that word. I do not think it means what you think it means.”
Inigo Montoya
How come bombardier hasnt gotten its fat subsidies recently? Maybe solar powered air liners could be a thing.
Too busy selling everything off and pocketing the cash.
Gone are the passenger jets, passenger turboprops, the smaller aircraft, the snow machines, the personal water craft. All sold off.
They only make a couple dozen corporate jets per year anymore.
The decades of subsidies have been truly laundered by the Beaudoin family.
Massive investment in a plan that won’t work.
This is why we need Romanians.
EV component plant? Heck, why not ‘invest’ in a magnesium plant. Much cheaper.
MagCan a lesson for Alberta
And the last line of this article has an amusing typo.
350 watts should light up an outhouse just fine.
Sprung Greenhouses Inc.
Bricklin Automobile Corporation.
Canadian Commercial Bank.
Pacific Western Airlines.
Chembiomed.
Northern Lite Canola.
General Systems Research.
NovaTel.
Sprung Greenhouses, the Newfoundland government’s crowning achievement…
“A total of about 800,000 cucumbers was produced. The cost to taxpayers per cucumber was $27.50, compared to 50 cents for cucumbers produced out of province and sold in Newfoundland grocery stores.”
https://www.cbc.ca/archives/premier-peckford-s-pickle-palace-1.4759416
“Swan Lake First Nation paid $800,000 in 2005 for equipment that would produce potato chips, and another $900,000 on upgrades when it arrived from Egypt…
Since then, the unassembled equipment has been sitting in a factory — about 124 kilometres away in Rivers, Manitoba — for which the band pays a monthly $1,200 storage fee. It still hasn’t produced a single potato chip.”
https://www.cbc.ca/news/indigenous/first-nation-potato-chip-swan-lake-1.6395590
I wonder where the Manitoba band got its money from?
read the book of Revelation. has some curious overlap shall we say it its words and contemporary events.
fer instance the bear is supposed to be roosha. well well well. lookit whut the ursus major did
It is time to face the reality that the auto industry contributes 0 to canuckistan’s GDP and that it will only get worse if this electric car fantasy is pursued any further. By the time the gubmint buys the factories for the automakers, what is the return on investment to the taxpayer.
Is it getting close to time to post this Shelley poem? Past it?
I met a traveller from an antique land,
Who said—“Two vast and trunkless legs of stone
Stand in the desert. . . . Near them, on the sand,
Half sunk a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed;
And on the pedestal, these words appear:
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
Nothing beside remains. Round the decay
Of that colossal Wreck, boundless and bare
The lone and level sands stretch far away.”
The modern world is so complex.
Does this latest updated version of “The Music Man” scenario only slot in under “Rabid Rent Seeking” or also perhaps “P T Barnum Redux” ?