Kathleen Wynne’s re-election bid is off to a bad start – Jen Gerson Opinion

Personally I tend to lean more to the right in politics however I will always acknowledge the left and give them credit when it’s due. Kathleen Wynne’s Liberals are different, Trudeau’s Liberals are different, all this vote buying nonsense has got to stop. What bothers me most about Kathleen Wynne and Justin Trudeau are their timings. Kathleen Wynne could have raised minimum wages back in 2016. Actually Kathleen Wynne could have raised minimum wages back in 2015, but what would have happened is the effects of minimum wage hikes would have taken their effects on the Ontario economy which would put Ontarians in a much better position to see if Kathleen Wynne’s government knew what they were doing.

One thing people forget about minimum wage hikes are the individuals that paid money to get an education to earn a wage that Mcdonalds workers now earn. How would feel if you were a health care aid making $15 cleaning up an old person’s feces and then with a swipe of the pen a McDonald’s worker, a teenager with no work experience was now making $14 up from 11.60? How would that make you feel? Would you still want to flip and clean old people or might you consider a career change?

http://www.macleans.ca/opinion/kathleen-wynnes-re-election-bid-is-off-to-a-bad-start/

Kathleen Wynne’s wasteful spending has resulted in the Ontario energy sector being remortgaged. A lot of Ontarians forget about that. So when you hear about individuals in the energy sector getting Million dollar salaries and bonuses common sense would tell you that it sounds like they received Liberal hush money. To give you an example if there’s a homeowner with a mortgage who no longer qualifies for a schedule 1 bank because he has a lower credit rating or because the bank sees that he/she has too much debt, then the mortgagor will be forced to see a mortgage broker.

Now that mortgage agent/broker might be able to get the mortgagor a new mortgage however the interest rates will be higher and the fees associated with this new mortgage will also be higher, because the lender is taking on more risk of default. That’s basically the situation Kathleen Wynne’s Liberals put the Ontario taxpayer into with all her promises. Consider this Ontario with less people has more debt than the state of California. I challenge you to take a look at the tent cities that already exist in California.

What’s keeping Ontario afloat right now is our ability to get credit. I live in Toronto and I’m telling you if there ever comes a day where Ontarians can no longer increase their debt load there will be a crash. Most people don’t get it, most Ontarians are living off their ability to qualify for unsecured debt. A large percentage of homeowners are dependent on their ability to leverage debt. If the dynamic of Canadians able to obtain more credit is ever compromised it’s game over.

Keyword being more credit, what tends to happen is when you max out a credit card typically as long as you’ve been paying your minimum balance the creditor will increase your limit. What these governments don’t seem to understand is that once that reaches it’s peak(if one exists) the gig is up. I hate to tell people but the housing market in Ontario can’t go down and it can’t be stagnant, it has to go up and the Canadian dollar has to depreciate in order for this scheme to stay afloat.

When Poloz lowered interest rates to save Alberta supposedly he backed himself into a corner. There’s no getting out of this one. The Real estate sector is government subsidized and when it was created nobody ever dreamed interest rates would go to Zero. Part of the problem in Ontario is that it makes far more sense for a developer to create a condo over an apartment building. Condos unlike apartment buildings are potential storers of wealth for individuals. So Toronto has a bunch of empty condos and most of those empty condos are owned by real estate investors foreign and domestic. T

his has artificially contracted the housing supply in Toronto and get this, there still are condos that struggle to get built because there’s nobody to buy them. Now if a city was booming similar to Hong Kong wouldn’t every condo get gobbled up? In some areas of Toronto DOMESTIC real estate investors will not touch because their profit margin will be too low based on the demographics. Add to this to the fact that locals wouldn’t qualify for the proposed mortgage and you see the disaster looming.

Now the reality of the matter is that we’re all to blame for this. This concept that we can get something for nothing, this concept that regulations happen magically without the government having to hire a government official resonates throughout society. When most Canadians think of Government they think of a machine, most Canadians don’t see public servants as individuals that can be corrupted by power.

In fact a large number of Canadians don’t care. I’ve met 40 and 50+ year olds that don’t care about politics. The obvious reason this happens is because municipalities in Ontario are for the most part powerless against the tyranny of the provincial government. If changes to the way you lived, hit you immediately as opposed to gradually, eating away at your income these Kathleen Wynne type Liberals wouldn’t even exist. They couldn’t because their neighbours and friends would be knocking on their doors the moment a policy they enacted turned out to be disastrous. With that said you’ll want to read the following piece to get a better idea of what may lie ahead for Kathleen Wynne’s Liberals in the upcoming election.

http://www.macleans.ca/opinion/kathleen-wynnes-re-election-bid-is-off-to-a-bad-start/