This is a little scary. I suppose it's all Mike Harris's fault.
http://www.debtclock.ca/provincial-debtclocks/ontario/ontario-s-debt/
http://www.debtclock.ca/provincial-debtclocks/ontario/ontario-s-debt/
Ontario Provincial DebtClock
- Thread starter GameBoy27
- Start date
We're all Greeks now. Prepare to be Greeced. This is the result of 40 years of the destruction of the Charter of the Bank of Canada. Trudeau handed our publicly owned bank to the Bank of International Settlements in 1974. Prior to that we managed to build the Trans Canada Highway. The St. Lawrence Seaway. All our major Hospitals. And all our major Universities. And at one point the Canadian dollar was valued higher than the US Dollar. And we had OVER Employment. So you can thank every Political Party Federally and Provincially since 1974 for bankrupting you and your family and the Country. Unless we change this ASAP. We will all be Greeced.
The folks over at COMERS - Comittee For Monetary and Economic Reforms - are fighting to save all of you from being Greeced. You can read about them here...
www.comer.org
I would suggest that you take some time and check them out. Because until people understand how money is created and how the system works. You can classify yourself as an Economic illiterate.
The folks over at COMERS - Comittee For Monetary and Economic Reforms - are fighting to save all of you from being Greeced. You can read about them here...
www.comer.org
I would suggest that you take some time and check them out. Because until people understand how money is created and how the system works. You can classify yourself as an Economic illiterate.
Wynne thinks she'll balance the books by creating HOT lanes, the pension fund, a carbon tax and jacking up hydro rates among other things. Welcome to "how to kill the economy 101".
Actually, I was thinking they should be indentured servants until they pay their share...
That's twice per capita of California....
http://www.usdebtclock.org/state-debt-clocks/state-of-california-debt-clock.html
It's also almost 50% of GDP?
Ontario is the world's most indebted sub-sovereign borrower.
All PM Harper's and Mike Harris fault!
At least we're NUMBER 1
We're number 1 !!!
We're number 1 !!!
We're number 1 !!!
http://business.financialpost.com/n...e-worlds-most-indebted-sub-sovereign-borrower
Harper and Harris? The Libs have been in power for years and didn't contribute to this issue at all?
Wow, apparently the residents of Ontario are demanding services they are not prepared to pay for...
Isn't Canadian household debt also high?
This has all been driven by oil and housing booms.... One has busted, if the housing bubble bursts your banks and economy will be in real (2008) trouble.
Actually we have already paid for, and continue to pay for services. The government has chosen to piss money away rather than provide these services and as a result is forced to borrow to continue to provide them, which downgrades our credit and forces higher interest on the government. Neither of which they planned for in their rosey and make believe budgeting process. These people are fools and yes, if housing bursts we are in deeper shit because the policies of this government have turned Ontario into a have not province instead of the have province we have historically been by stripping our manufacturing base to the bone and fucking over people with user fees, revenue tools and taxes.
I believe the number was $293 billion when I posted this less than a year and a half ago. It's now almost $313 billion. How long can this continue at this rate? Absolutely amazing!
http://www.debtclock.ca/provincial-debtclocks/ontario/ontario-s-debt/
http://www.debtclock.ca/provincial-debtclocks/ontario/ontario-s-debt/
As long as you can make the interest payments, apparently forever.
But when interest rates rise next year, our $10 billion/yr interest payment jumps to $20-30 billion/yr.
Actually, Wynne made a point in the last election of explicitly ruling out a carbon tax.
What she's bringing in is cap and trade. Because, you know, that's entirely different. :wink:
