Alberta, Ontario face EU-style debt crisis, report warns
http://finance.sympatico.ca/home/alberta_ontario_face_eu-style_debt_crisis_report_warns/0b578fc9
High Speed, Low Drag!
Get off the "X"!!!
I believe it... and in Ontario's case ( as stated in another post) "the Rats are Jumping Ship"... Thank You Mr. McGuinty! 😡
Charter Member of a Canadian Minority... White, Male and in my 50's!!!!
Alberta would not be in a heap of trouble if it didn't HAVE TO send equalization payments to the East for so many years. They would have a massive slush fund, but unfortunately the welfare provinces have raped them of their profits for so long.
Yes Gravlore... But up until 2009-2010 Ontario always paid into to the Equilization Fund and now we are collecting from it. On the other side of the coin... up until the same Fiscal Year NL always collected from the Fund but now they are paying into it. The Equalization Fund is fluid and is affected by a number of external influences. For example... If the Federal Goverment would back Ontario's Softwood Lumber Industry ( the same way they back the Oil and Gas Industry) instead of bending to the will of the US Government's policy towards our Softwood Producers.. Ontario's GDP would rise to where it should be and that would put us in the "Have" side of the Equalization Fund. As for Alberta and NL, If the feds dumped a ton of money into, lets say Cold Fusion (for SH_ts and Giggles), and we ended up with an viable alternative to Fossil Fuels.. Alberta and NL's GDP would drop . That would put those Provinces into the "have not" column in the fund and Equalization Payments would be paid out to them.
My Point is... the E.F. is based on the "Marketing of the Natural Resources of each Province". It can be( and probably is) manipulated by whom ever is in power (in both the Federal and Provincial Governments) to ( like everything else in this country) benefit whom ever they please. Alberta ( the Home Province of our Illustrious Prime Minister... HMMM??? ) is just the latest Province to pay out to the "Have Nots"... Ontario did it for years.
Want to have some fun??? Check out Quebec's standing for the past "however many" years in the Equalization Fund.
Charter Member of a Canadian Minority... White, Male and in my 50's!!!!
I'm only surprised it didn't happen sooner. I live in Ontario and most people that I know are in debt up to their eyeballs and still digging. It really was only a matter of time before Canada saw the SHTF scenario that many of those other countries are facing. I unfortunately won't be shocked when our unions begin to crumble (even more then usual) and our little extras begin to disappear. The sad fact is that we do live way beyond our means and pretty soon Peter will come a knockin'.
If your home library contains more volumes about survival-related topics than your local public library, you might be a prepper.
It is a mess either way. Ontario's manufacturing is a dead horse thanks to automation. We in Saskatchewan sucked off the teet for a long time too thanks to the NDP that was in power for so long. The softwood issues with America were and are a joke seeing how they screwed over BC,Sask,Ont badly. Quebec has been brainwashed into thinking the rest of the country relies on them and that is so far from true that it makes me ill thinking about it. The idea that we are a united country is an entertaining one but not a factual one.
I don't feel sorry for the people in this country "Living Beyond their Means" ... That seems to be a Lifestyle today.. but I do feel sorry for the Hard Working people who are " Beating a Dead Horse" just trying to survive.
Here is a little story for you...
In my business I deal with a lot of Logging Companies ( Harvesting, Saw mills, Trucking ETC) here in the Ottawa Valley and a couple of weeks back I did some work for a Hard Wood Mill ( Maple Flooring, Oak Trim Etc) that is being run by the Third Generation of the Founder of this Company. We sat and had a coffee and he was telling me that he is scared that there would be nothing left of the Company for his two Sons to Inherit when he retires in 5 years!!! Business is so slow he is barely covering expences. Most of the product his Mill produces ( like I mentioned) is used in flooring, furnature and trim and what is happening in that market is what is happening in every market today. Apperantly, Manufacturers of finished hardwood products ( Notably Furnature Companies) are shipping the raw materials ( Un-Sawn Logs) to China to be sawn, planed and manufactured into the finished product and shipped back to us for purchase. His advise... By Mennonite Furnature.... At least that product is made in Canada!
Charter Member of a Canadian Minority... White, Male and in my 50's!!!!
yeah gotta love free trade..... I would say we are living in a modern facsist state. Corporations have now taken full control both here and the states. We now get our goods made from places where the workers are treated poorly, suspect human rights and lets not get into environmental conditions. No wonder why our facsist masters have taken the once good blue collar middle class jobs away.
Politics is just bad theatre.... they may a drive a different bus but they all go to the same destination.
I don't feel sorry for the people in this country "Living Beyond their Means" ... That seems to be a Lifestyle today.. but I do feel sorry for the Hard Working people who are " Beating a Dead Horse" just trying to survive.
Here is a little story for you...
In my business I deal with a lot of Logging Companies ( Harvesting, Saw mills, Trucking ETC) here in the Ottawa Valley and a couple of weeks back I did some work for a Hard Wood Mill ( Maple Flooring, Oak Trim Etc) that is being run by the Third Generation of the Founder of this Company. We sat and had a coffee and he was telling me that he is scared that there would be nothing left of the Company for his two Sons to Inherit when he retires in 5 years!!! Business is so slow he is barely covering expences. Most of the product his Mill produces ( like I mentioned) is used in flooring, furnature and trim and what is happening in that market is what is happening in every market today. Apperantly, Manufacturers of finished hardwood products ( Notably Furnature Companies) are shipping the raw materials ( Un-Sawn Logs) to China to be sawn, planed and manufactured into the finished product and shipped back to us for purchase. His advise... By Mennonite Furnature.... At least that product is made in Canada!
May I ask what company he sells the wood for flooring to?
Your right redlite..Anyone see the e-mail that was circulating a while ago about the largest cargo ship in the world ❓ It only hauls product from China ( mostly for WalMart).. comes over fully loaded ( and I mean LOADED) with containers of product but goes back to China empty 😡 There is no such thing as Trade in the Corporate World .. Only `the bottom line`... Cheaper is Better... Yeh Right!!!
The thing that scares me though is the amount of Corporations in the world that are large enough to (majorly) affect the World Economy. In the last `crunch`there were several Corporations that HAD to be bailed out. If they were not bailed out the World Economy would have crashed.. Totally!
My Questions..
1:-Why are these Companies allowed to get so large and what safeguards are in place to stop some `Meglomaniac`( IE: CEO of a Major Corp.) from crashing the economy on Purpose ❓
2:- Why were the CEO`s of the Corporations that caused the last crash not held resposible for their actions ❓
Hell... If I can`t explain every deduction, gas receipt, meal or expence Canada Revenue will be all over me 😥
Charter Member of a Canadian Minority... White, Male and in my 50's!!!!
I don't feel sorry for the people in this country "Living Beyond their Means" ... That seems to be a Lifestyle today.. but I do feel sorry for the Hard Working people who are " Beating a Dead Horse" just trying to survive.
Here is a little story for you...
In my business I deal with a lot of Logging Companies ( Harvesting, Saw mills, Trucking ETC) here in the Ottawa Valley and a couple of weeks back I did some work for a Hard Wood Mill ( Maple Flooring, Oak Trim Etc) that is being run by the Third Generation of the Founder of this Company. We sat and had a coffee and he was telling me that he is scared that there would be nothing left of the Company for his two Sons to Inherit when he retires in 5 years!!! Business is so slow he is barely covering expences. Most of the product his Mill produces ( like I mentioned) is used in flooring, furnature and trim and what is happening in that market is what is happening in every market today. Apperantly, Manufacturers of finished hardwood products ( Notably Furnature Companies) are shipping the raw materials ( Un-Sawn Logs) to China to be sawn, planed and manufactured into the finished product and shipped back to us for purchase. His advise... By Mennonite Furnature.... At least that product is made in Canada!May I ask what company he sells the wood for flooring to?
Sorry Gravlore... I didn`t get into that with him
Charter Member of a Canadian Minority... White, Male and in my 50's!!!!
I only ask because my relatives are wholesalers and I was curious if their employer was one of them.
Hey Gravlore,
I will take a stab at both of you questions. The first instance is that there use to be safeguards in place.... monopolies were not allowed but over the years there has been no will to prevent this but the exact opposite has transpired. Again one would ask why? and its because we now live in a fascist state. When you have heads of corporations that flip flop between their businesses and government you know what is going to happen. What I find fascinating is how the media creates new words like corpocacy instead of calling as it really is. So what happens when you get C level management from Monsanto that gets appointed to the FDA. Or, banksters that end up holding positions of power in government. Goldman Sachs is not called Government Sachs for nothing. I think that we dont get ourselves out of this until us regular folk begin to understand fractional banking for the scam it is. I know it was never taught to me in school.... and after learning more about it I now know why.
More reasons to ask a lot of questions and above all else... VOTE!!!
Charter Member of a Canadian Minority... White, Male and in my 50's!!!!
More reasons to ask a lot of questions and above all else... VOTE!!!
Vote? Yeah, that should help. I voted Conservative and there is nothing conservative about the party. Haven't missed a civic/provincial/federal election in 18 years and now I am done with all of them. Tow the party line and don't give 2 sh_ts about their constituents.