Tories warn Ontario could become the 'Greece of Canada', page 1

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Topic started on 19-12-2011 @ 08:35 PM by brill

Video available, sorry couldn't link directly.

The opposition parties offered totally opposing views Friday on how to avoid an expensive downgrade in Ontario's credit rating after Moody's Investor Services put the province on a credit watch.

"What this tells us is Ontario is on the road to becoming the Greece of Canada," said Progressive Conservative Leader Tim Hudak after Moody's revised the outlook on the province's credit rating from stable to negative.

"What this tells us is Ontario is on the road to becoming the Greece of Canada," said Progressive Conservative Leader Tim Hudak after Moody's revised the outlook on the province's credit rating from stable to negative.

Looks like the economic engine of Canada may be grinding to a slow halt. Canada has a strong economy and is widely regarded on the global economic stage as having good policy and sound regulations. That said one of her provinces is being poorly handled by the existing governing liberal party. Changes are coming, especially for the bloated and self righteous public sector. Most Canadians are totally oblivious to the global economic crisis, even with Moody's warning little will change.

src

brill

reply posted on 19-12-2011 @ 08:45 PM by AzureSky

We are tied to europe, and tied to the united states.
I dont care how good our economy is, if one of those goes. Then we all go down with her.
And canada is well on its way there, with the income gap accelerating faster than that of the US
And the corporate tax cuts and lack of investment
and the billions in wasted tax dollars paid out to private banks.

I hope it goes down, tbh, then people will finally realize "oh #, shouldn't have ignored this problem for so long"
This is just the beginning my friend. I think the only province that would do extremely well is alberta with its environmentally devestating oil sands.

reply posted on 19-12-2011 @ 08:49 PM by tothetenthpower

Moddy's is a private corporation that works for powers unknown...

Who are they to decide how valuable anybody's "economy" is. Granted the liberals have laid waste to Ontario's public sector and social programs.

However, the Conservatives or the NDP would not have done any better. We only did so well in the recession because we never let our banks trade on our futures.

I think this is fear mongering.

I highly doubt that any particular rating downgrade would effect Canada in any significant way, other than un-educated investors flipping out and selling stock.

reply posted on 19-12-2011 @ 08:54 PM by AzureSky

I think Jack Layton was like our Ron Paul, i just didnt clue in at the time.
He was a well versed man
And he knew EXACTLY how the canadian banking system worked, and was well aware that if most people knew the truth, there would be riots.
Apparently he saw it coming,

May he rest in peace, he was interviewed in this Documentary below about the canadian financial system, he knew what was up.

YouTube Link

I received a message from someone on a website (whatis-theplan), and he was saying that he had talked to jack layton before his passing, just on a random occasion and bumped into eachother kind of thing im assuming, i dont remember all the details, but he said jack talked to him about the youth of this nation, and that the youth need to stand up and take back the country from powers that would rather see us suffer. I'll try to find it if i can.

Note: Found it, its below. He sent me a message about how we could implement some sort of political party, as you will read below

Hey I think the best way to implement these demands is by building a political party. I know that some of the folks in the community have a real mistrust of anything political, but I really do think this is the only way to take these from idea's to actually implementing real changes.
This summer I had the privilege of meeting Jack Layton, it was the day before the throne speech, I was in Ottawa on my way out to the tar sands working on a documentary. He took the time to walk with me from the steps of Parliament hill to the bus stop and on our walk I asked him what was going to change when he was prime minister and the NDP were the governing party. His answer was candid, "Nothing will really change until the youth of this country become engaged and involved in the democratic process." I was shocked. I think he knew that the change required to fix our planet and country was bigger than any party in existence.
One world government is coming, and its either going to be implemented by the banks, or by a grass roots world wide political movement with no central leadership purely focused on serving the interests of the people. People around the world want to live in peace and harmony and I believe that building something of this scope and magnitude is the only way to take the movement forward.
The party is called The Peoples Political Party. As the name would suggest the party's only interest is being a vehicle for the will of the people. I'm asking people to start building a bass for this movement across our country, become involved in developing a clear plan of action to implement these sweeping changes we wish to see. So I realize I've compromised my own anonymity by naming the party, but I also think its time go for this.
Basically I'm asking you to help develop this idea and if your so inclined to run. This is going to take some hard work, and more than year, but its also the most practical way I can think of to actually make this happen. People around the world are being mobilized, and with a party we can have a voice, a big booming voice that will put businesses in its place. Nobody wants this to turn out like the soviet union, and I believe we can build world that that is democratic, free, fair, just, honest, a global government that is transparent. We can do this without a bullet being fired or a drop of blood being spilled.
Best wishes

edit on 19/12/11 by AzureSky because: (no reason given)

reply posted on 19-12-2011 @ 09:00 PM by AzureSky

Just thought i'de put that out there, sort of off topic.
But he was going to halt a corporate tax break immediatly after he got office..

Canada is climbing on the corruption list,
Its all got to start somewhere, In ontario.

reply posted on 19-12-2011 @ 09:02 PM by bobs_uruncle

reply to post by brill

Well maybe if our idiot representatives in government would stop selling off government assets, like Petro Canada, Ontario Hydro, the 407 highway, etc. to private corporations after we pay for them, we wouldn't have a problem. But unfortunately, a politicians wallet is more important than the people they represent.

I say charge 'em with treason and have done with them. And as another poster said, Moody's is a rating agency controlled by unknowns, who are also bought and paid for, just like our politicians.

Cheers - Dave

reply posted on 19-12-2011 @ 09:02 PM by brill

Originally posted by tothetenthpower
Moddy's is a private corporation that works for powers unknown...
Who are they to decide how valuable anybody's "economy" is.
...
I think this is fear mongering.
I highly doubt that any particular rating downgrade would effect Canada in any significant way, other than un-educated investors flipping out and selling stock.

I guess time will tell. Moody's has had some controversial involvements I will give you that. My view is that if their influence was weak why then would this government respond ? It can't be to alleviate fear as you suggest because most are blissfully unaware, or so it would seem. The opposition is expected to use this story as ammunition but the reply from the liberals is telling I think.
I think if Moody does proceed it will have a big effect given canada's alleged high standards of banking and finance.

brill

reply posted on 19-12-2011 @ 09:28 PM by Trillium

reply to post by brill

Well if it could get that Ring of Fire mining area going.
The chome deposit there would last at lease 100 Year.
Also there Gold, Silver Etc. Etc.
www.kwgresources.com...
This is the next wild north-west.
I,m at DeBeers Victor Mine for the last 5 or so year

Ho ya you will not find it on Google map either ?????

edit on 19-12-2011 by Trillium because: (no reason given)

reply posted on 19-12-2011 @ 11:47 PM by Trillium

Also you may whant to check out this Thread

www.abovetopsecret.com...

should keep you going for a few hours

reply posted on 20-12-2011 @ 07:29 PM by Agent_USA_Supporter

reply to post by brill

Ontario could become the 'Greece of Canada'

Sorry to brust your bubble but Ontario and other parts of canada are already starting to become like greece.

reply posted on 20-12-2011 @ 07:36 PM by brill

Originally posted by Agent_USA_Supporter
Sorry to brust your bubble but Ontario and other parts of canada are already starting to become like greece.

Your preaching to the choir. While I'm no Greenspan or Bernanke (not sure I'd want to be anyways

) I'm aware of current conditions. That said there is a big difference though currently between the Canada and Greece's economies.

brill

edit on 20-12-2011 by brill because: (no reason given)

reply posted on 21-12-2011 @ 10:56 AM by peck420

Much ado about not much.

Seems to me that this is political posturing more so than economic issues.

Does Ontario have a financial issue currently? Yes.

Will they recover? Almost certainly.

Worst case scenario, they go Quebecish for a bit and get some good transfer payments from the other provinces until they are back in the black.

reply posted on 21-12-2011 @ 11:14 AM by masqua

Ontario's immediate problem is high population numbers at a time when we are experiencing the loss of manufacturing jobs.

The jobs are mostly west of Manitoba.

What the solution is, I have no idea, but you can count on the federal Tories milking the embarrassment of the Ontario Liberals for all it's worth. Too bad neither parties will be having elections for years to come.

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