18
Jul
13

Is Canada In Trouble?

Within Canada there seems to be quite a bit of problems occurring at various levels within the vast great North as it is referred to. From Mayors being arrested and charged with corruption and bribery in Quebec, the Mayor in Toronto caught partying with drug dealers and murderers, Senators caught expensing personal lifestyle costs to the taxpayers or getting in trouble with the law, Provincial organizations such as eHealth Ontario caught handing out over priced contracts to friends and family, lack of oversight and criminal enforcement over shady publicly listed corporations on the TSX (ie. Sino-Forest, BreX, Poseidon Concepts, Nortel, etc.) and their Executives, etc. to name a few problems on the political side. With the government debts racked up substantially at all levels of government in Canada and the Canadian Government now more reliant on Exports to the US than ever (as a % of overall exports), to Canadian Consumers racking up record levels of debt (buying cars, houses as well as luxury goods) as well as Corporations, an obvious real estate bubble, to the Banking system adopting a too big too mentality and mimicking the shady practices performed by their US counter parts before the 2008 collapse, it seems Canada is a shock away from a collapse. With recent flooding in Calgary as well as Greater Toronto to the train disaster in Quebec (combined with regular passenger train derailments in Canada over the past few years), Canada’s aging infrastructure has been exposed as well. Since 2006, the current Federal Government under Stephen Harper has continued to finish off what Brian Mulroney started by selling Canada’s assets to the highest foreign bidder (thus allowing us consumers to pay high prices for Canadian Commodities and resources owned by foreign conglomerates) and not investing in Canada. Is Canada heading towards a repeat of the 1990’s? With the Canadian Economy ever so reliant on commercial and real estate growth and the banking activities that finance them, what will happen when that growth tapers off? Without significant investment in R&D during the current Harper government compared to previous Canadian leader’s legacies, how can Canada stand on it’s own two feet without such bubbly activity? Is Canada sailing towards murky waters and heading towards trouble?

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