Wonders never cease. A mainstream financial news outlet finally gets on the right track. My main criticism of the op-ed is that it doesn’t identify the root causes of the lack of capital creation: the collapsing fiat monetary system and the exponential rise in unpayable debt. While residential real estate has been booming, the real drivers of economic growth, such as business investment in plant and equipment, have been declining for years.
Such a multi-year decline in the tools available to the average member of Canada’s workforce is very likely unprecedented. The only historical period where consistent data (if it existed) might show something similar is the depression of the 1930s. From the perspective of Canadian workers, our economy is decapitalizing.
Who in their right mind would invest here? Multiple levels of government have said that just about any form of energy is evil, so the most crucial input to any kind of venture here is at risk – either its cost will skyrocket or it will eventually be banned. And the feds have shown that they will come after you over political thought and opinion – nobody is safe unless they are on the inside. And our urban populations seem to accept all of this – they’re okay with it because they believe that by voicing the correct opinions they won’t be eaten; they think their virtue signalling will protect them.
Who would put money into such a culture?
I lived in Ontario for some years. I’d made a mistake and moved from the west. I bought a house on the edge of the burbs, on the side that no one wanted and drove to work a long time every day. One day the price of that home went up. Covid did that? I sold everything and moved west. Mortgages paid off. Bought a much nicer home with land. A truck. An Atv. I’m now a multi 10 thousand aire. I’m good with money. Between trading US commodity futures and TFSA cash management and raising my own food I don’t intend to ever have a job again. It’s unlikely I’ll ever invest or work in Canada ever again. I’ll invest in Alberta if it ever separates. I should have taken all my money and run south and told them I was Mexican but that shipped sailed. I think everyone that lives in Ontario should have done what I did. You don’t need to be a millionaire to support yourself.
Just wondering. What percentage of Canada’s current debt is considered unpayable?
All of it?
There is no plan to pay it off, and never was, because unless governments are forced to live within their means they will just continue to print paper to paper over the paper they previously printed.
One of the reasons the government looked the other way while BC became one of the money laundering capitals of the world is that it drove real estate prices which made it appear that the economy was growing. But anyone with eyes can see that aside from legacy capital (wood, coal, copper and gas) chugging along not much was happening in terms of the productive economy. Money laundering and immigration provides the illusion of growth while incomes stagnate and housing becomes unaffordable. But let’s not pretend this is a problem for government to solve, it’s the whole idea – to drive the middle class into serfdom.
The Liberals plan for Canada is that all capital will come from China, with the Liberals getting a fat cut, as the go-between.
And China will only be interested in raw material extraction, and food production.
Meet your new boss, Canada.
Freezing bank accounts over political speech would give any investor pause.
Funny thing eh?
That people will not invest where their wealth is not safe.
Without rule of law,applied equally to all,investment starts to fade.
When Kleptocrats Rule,investment stops.
For when you have no rights or freedoms of person,you know damned well your property is insecure.
This is end stage kleptocracy.
Sure it is legal to loot persons of the incorrect ideology.
But they stop producing.
Now who do you loot?
Right,you declare another group “unpersons”and loot those former supporters.
Snake eating its own tail and saying;”I am eating real well”.
Libtards,they always eat their own.
The prevalence of “Climate Change Religion” in the “Progressive as rust” ranks is no accident.
Gang Green.
A sickness of a first world society.
Times of wealth and plenty,create such fools.
When such fools rule ,times of plenty end.
Only within government does the theory that the taxpayer will continue to suffer and sweat for the Glorious State of Thuggery,long after any benefit to that taxpayer is gone,held to be an immortal truth.
History teaches otherwise.