Ontario is Canada’s new “basket case”!!!!

Posted: November 20, 2012 in Uncategorized

“So how’s it going Dalton”?

How’s your continuous announcements that Ontario is the new “leader of Renewable Energy” in North America actually relevant with the reality that Ontario is basically bankrupt?

“A place to live and a place to grow……..Ontari ari arioooooo”! Remember that one?

Parliament is now shut down, the leader is in hiding so he doesn’t have to answer hard questions why it cost over a billion bucks to buy votes for two MPP’s…………..Rural Ontario has been literally over run with Industrial Wind Turbines that don’t do anything but make electricity basically unaffordable for millions of consumers all the while decimating property values and ruining people’s health.

Massive bulging debt has crippled social services and any hope for a future for our young…….labour unrest at an all time high because the Government has run out of money to bribe unions to vote for them and now we see contempt charges being lodged against MPP’s because they have pissed off fellow politicians with their avoidance of producing documents that would implicate them with shoddy spending of tax payers dollars from E Health, Ornge Ambulance and gas plant cancellations, not to mention other cancellations of projects like the Flamborough Quarry which is carrying with it another contempt charge being generated through the legal system.

Once again Dalton…………………”how’s it going”?

Not that good eh?

Is Ontario The Next Rustbelt?

08/11/2012 David Frum  Contributor, Newsweek/Daily Beast

After years of lagging the rest of the advanced world, investment in Canadian plant and equipment has at last caught up.

That’s the good news in a recent report by the C.D. Howe Institute. Here’s the bad news. One important province has fallen even further behind: the province of Ontario.

The report by Benjamin Dachis and William Robson tracks Canadian performance by province over the course of the past decade. They observe:

“In the early 2000s, the [investment] gap with the [rest of the] OECD widened. For every dollar of new business investment per worker across OECD countries from 2001 to 2005, Canadian businesses invested 94 cents, and for every dollar of investment per US worker, Canadian businesses invested 79 cents. Since then, Canada’s performance has improved. From 2006 to 2010, our businesses invested 99 cents per worker for every dollar invested across the OECD, and 88 cents for each dollar invested by US businesses. Preliminary 2011 data show Canadian businesses investing more per worker than the OECD average — 102 cents per dollar across the group — and maintaining the late-2000s average of 88 cents per dollar invested in the United States.”

Investment leads to productivity improvement. Productivity improvement leads to rising standards of living. Yay.

Unless you live in what used to be the economic powerhouse of Confederation. Then suddenly the outcome becomes grimmer.

“Ontario … continues a long-term slide. After getting 77 cents of new investment for every dollar invested across the OECD in the early 2000s (65 against the United States) and 72 in the late 2000s (63 against the United States), Ontario workers may get a mere 70 in 2012 (and only 60 against the United States).”

New Brunswick does little better; Nova Scotia even worse. Quebec has avoided going backward only because it started so low in the first place.

The obvious explanation for the differential is the global resources boom. But Dachis and Robson point to some other important and likely to be neglected factors as well, including,

(1) Because many Canadian industries remain protected from the full brunt of international competition they may feel they do not need to invest as much as they would if they had to compete with the best in the world.

(2) The boom in residential investment may be diverting investment dollars that would otherwise have flowed to plant and equipment.

(3) The laggard provinces have failed to adjust their taxes in an investment-friendly direction, Dalton McGuinty’s Ontario being one of the very worst offenders in this regard.

READ MORE HERE:

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s