Clear Signs When The Ontario, Canada Economy Crashes it Will be Devastating, Austerity Measures are Publicly Unacceptable – October 10, 2019,
Austerity measures are cutbacks to the public sector, Canada has a very large public sector, Ontario Canada’s public sector even stretches into the Liquor Control Board of Ontario(LCBO). Ontario is already in more debt with fewer people than the U.S State of California.
An assumption by a lot of Ontarians is that this debt cycle can continue into infinity. A flourishing private sector fuels and finances the Public Sector, although Canada has a fractional reserve banking system and although Bank of Canada interest rates are extremely low, Ontario’s debt financing is reaching unsustainable levels and Doug Ford attempting to prevent the coming crash is being met with resistance from people accustomed to having their cake and eating it too.
Well, some times people, places and things simply have to learn life the hard way. Via minimum wages and rental price controls Ontario has inadvertently turned away a lot of tax dollars that could have fueled the economy, but at this point explaining that to people would be futile and I’m tired of doing it.
‘Scarborough deserves better’: Dozens rally against cuts to Birchmount Hospital | CBC
As I child I thought the story of Noah’s ark in which Noah was warning about a massive flood coming and people ignoring and laughing at him was far fetched. Well now as an adult, I completely get it! If you can comprehend the coming economic crash, I advise you to prepare yourself accordingly.
Interesting times ahead!