Canada is a country that always looks at the positive side, which explains why they never see the red ink that flows in the negative territory.
One trillion dollars, and that is not including the debt on the provincial level. Ontario, which, since 2015, has had the largest non/sub-sovereign debt in the world.
That means the next one on that dubious list that owes more is an actual nation.
And yet the Ontario Liberals are vowing to spend billions more if they get re-elected.
I am surprised that Kathleen Wynne isn’t vowing to throw a billion to Ontario newspapers, who were indignant that the federal Liberals only threw a paltry $50 million to save their worthless backsides.
This will not be sustainable, particularly as the US economy is roaring along, but we are not feeling the bump. Personal debt is up as well. Canada is too much about funding black holes that have nothing to show for that largesse, and not enough about creating the environment for people and companies to be self-sustaining.
Ontario’s Sunshine List that just came out, showed just how many civil servants earn more than $100,000 a year — some even touch more than one million a year, and yet we are seeing no innovation or job creation as a result. We have university students not be able to find full-time jobs in their chosen field, sick people who are never cured, wronged people who never get their day in court, and household debt increase because utilities are going up with nothing more to show for it. Our transit system is an archaic disgrace.
But you wouldn’t know it from the press coverage — you know, the same group of people who now are throwing temper tantrums because they didn’t get money from the same broke governments that are rapidly destroying this country.
The former Yugoslavia went through this same problem — and then, when they couldn’t sustain the debt, used the pretence of nationalism to break up and start a war. It took a couple of decades for Serbia to recover from getting their over-the-top pummelling from the rest of the world, but now they are roaring back to life. When Serbs learned that they had to rely on their own wits and not alliances, Russian nannying, and borrowing, their fortunes rapidly turned around.
Canada, like Serbia, has natural resources and an educated population, but unlike Serbs, are blinded by the false notion that everything will work out in the end all by itself; so nothing and no one needs to change because they are great just as they are.
Canada is in for a serious humbling. Our international reputation is beginning to erode — and much of what seemed to be our good luck was, in fact, a free pass due to international good will, and now we are seeing that much of that good will is evaporating.
We needed a press to keep us realistic. We needed a press to show that we have to change and improve ourselves, make sacrifices as well as demands, not just demand our rights without fulfilling our responsibilities, and confront our problems head on.
But instead, the press enabled our delusions, and is now miffed at Ottawa for not rewarding them for their complacency, never realizing those games are about to push us over the edge — and there will be no turning back…