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Throughout Canadian history, Ontario has always been one of the wealthiest provinces, and a driver of national economic growth. Over the last three years, Ontario’s net debt increased by $22.8 billion and over the next three years, the proposed budget calls for provincial debt to grow by an estimated $52 billion. The massive explosion in Ontario’s debt is completely unsustainable and there is no end in sight.
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Stefan, unfortunately, I have to agree about this crisis.. I feel that what should be a crime was the usage of PPPs to build infrastructure. The public is not informed about these. Public, private partnerships builds, for example, hospitals, using private funds. Private entities build a hospital and want the final bill to be a big as they can get away with because the "lease" payment to the taxpayer is based on this final number. The payment terms could cost up to the equivalent of 8% per year! The taxpayer must pay for maintenance and never owns it. The Ontario government can raise the money for this within minute on the open market by selling a long term bond at 3% interest! So why don't they do that? The government passed a law that assures that PPP projects do not show as debt on the Provincial books. No liability. This is CRAZY! It is very deceptive to the public and the media is not doing it's job. Foreign banks around the world come here to do this and think we are a Global "sucker". Most countries ban this practice. Ontario, Alberta are big users and are charging taxpayers billions of extra interest payments for the sake of APPEARANCE. You get to tell taxpayers that you are building a hospital FOR FREE! Don't blame Mcginty ONLY for all of this. This started with Peterson and Bob Rae was stuck with the real estate bust in the early 1990s and rising interest rates. Short term rates went to 11% by 1991. He had a severe recession...not that I'm a fan of the NDP, I just want to be fair. but the real damage happened with Mike Harris. He walked into the beginning of a long growth period and had interest rates fall from 11% to 3%! Just refinancing the debt save Ontario billions! Paul Martin didn't reduce taxes and froze spending that eventually gave Canada 14 years of surpluses and paid down tons of debt until that asshole Harper came in with the "job creators" tax cuts and doubled our debt with NO recession and the lowest interest rates in history! We were on track to be debt free as a country by 2025. If Harris left things alone he would have had surpluses but he had copy the Bush neocons and do the "job creator" tax cut that NEVER brought business to Ontario, in fact, it moved to Mexico. Preston Manning warned Ontario NOT to do this. He said pay down the debt and then cut taxes. Manning forced Ralph Cline to do this and Alberta was debt free by 2002 with oil prices averaging $15 per barrel only! Now we have Ford. He recently cut programs like new universities. i hope he cuts more to repair the debt damage, but I suspect that he will utter those damaging words in his first budget "we need to cut taxes for the job creators" and put the Blackrock and Goldman Sachs of the world on PPP steroids. If this happens IT IS A mathematical guarantee that we're screwed. We will get eventual downloading to municipalities and property taxes will sky rocket. A real estate BUST is virtually guaranteed for this and other reasons. How sad. Keep doing these videos and educate people because it is public ignorance that permits this. GOOD LUCK!
If you go back in history you’ll find that Muslims, Islamist have been driven out of every city (nation) they captured in Europe several hundreds of years ago. It didn’t happen overnight but it happened, they were driven back to the only place that would tolerate them, their home states / lands. It’s greatly the fault of America and our allies that their homelands have been bombed into oblivion making them unlivable. It’s no wonder they hate us so much. The one thing that has been of some protection for America and Canada has been distance, Mexico and South America have escaped infiltration because most of SA would let them starve and eliminate them.
Yeah, and when I told people to stop voting Liberal in Ontario in 2003 or the province would be fucked, they called me a 'racist'. I never forgot that! Look at the province now, you stupid fucks! $112 billion to $350 billion now! I moved to Alberta and have a great life here. Ontario is getting exactly what it deserves.
Trudeau is not working for Canadians he is a globalist working for the UN he is pushing Agenda 21 open borders mass welfare immigration loss of values and culture which will lead to the end of Canada it is time we kick this traitor out
Canada is Dead thanks to Justin Trudeau and the Liberals. I will be 60 next year and I will keep my Canadian citizenship so I can vote 1 last time. After that I will become a American and live in Montana. I feel sorry for any Canadian who has children because their lives in Canada will suffer. Anyone who voted Liberal are too blame for the death of Canada.
Stefan.... topic suggestion... I would be interested in a discussion of Democratic vs Republican US cities and the economic success/failure/health of each city to see if there is a trend between political ideologies and economic conditions. I know the answer to that question but would be very interested in hearing you discuss the topic supported with facts and statistics like you do so well.
It's time for us and stand together, and get Trudeau out,.When your born here like most of us, we grew up happy, now we're drowning in miserableness, no one is smiling anymore, we are not allowed to laugh, play music, no fun..no such thing as euphoria..unless your well off, and and you made it your self, not your parent, yourself then your ok,.but Trudeau only helps well off,.he admitted it on camera..Money should just collapses and have everyone start from scratch,.Switch off that button,.restart ! Trudeau has ruined our use to be proud Country,.when is everyone going to wake up !
your comments on california being an economic basket case are laughable. you talk about the debt per capita without looking the size of its economy. california's GDP is 2.4 trillion dollars. two point four trillion.
Canada belongs to the ""Multinationals" . , Bankers, the Rothschilds ,The queen , Canada is a Banana Republic of The U.S. every country the U.S. invades Canada follows .
The prime minister Trudeau is just a idiot punk big mouth "parrot" , he just Communicants what they tell him to say and the reality has no power . He was born with a silver spoon never had a real job in his life ! he just a idiot parrot- monkey who got elected by legalizing the drug culture , allowing marijuana shops , giving all the rights to the "Gay community" , the femisnist culture , and giving all the rights to minoities from third world countries that live in Canada ect...
If you're a normal person you have no rights , just pay your tax and be a debt slave . Trudeau wants a docile -zombie society is great for control promoting and legalizing marijuana -the drug culture ...A zombie docile culture .
Trudeau brought in to Canada over 1.2 million refugees and immigrants. Why are Canadians sleeping on the streets , no housing, but they have 5 stars hotels for refugees and they bring in more migrants ?? well Canada goes to Iraq , Afghanistan, Syria, Lybia with the U.S. and destroys these countries now take the refugees its called karma ! soon you english colonials Canadians( Anglo-Rednecks) you will become a minority in your country you stole , raped and looted from the native indian people the real Canadians not you Anglo rednecks ! .....karma is a bitch . you pay sooner or later ...life is not fare or is it ? the Colonial Renecks anglo glory days are over !!..suck it up redenecks quit your drugs culture and junk food shit culture ! payback !
Where's all this debt going ? To central banks like the Bank of Canada and the Federal Reserve . Why are the majority of us are barely skirting poverty while the banks take all the gravy and more ? This debt is non existent if we printed our own damned currency ,and I think we should tell them to stuff the money lending (loan sharking) debt that plagues the earth and ourselves , right up their keister . We need to get off our knees or forever stay on them , prostrating ourselves and our children's future to a bunch of parasitic vermin who feeds of the work and wealth of others .
so the solution is to declare bankruptcy, no way they can repay,it is the world poor countries just as well declare bankruptcy as they cannot erepay and thank heavens when they do,the world has to go through the changes as to a real solution just promising lazy people world wide that things are free on borrowed money is false,
its an EASY FIX PEOPLE !!! Just join the U.S. we will become the largest and richest country in the world, oil independent !! then we finally become a true democracy, no connection to the crown, its irrelevant if you don't like President Trump, he is only doing what his voters have asked him to do, we would finally have a dollar that is worth something, etc, etc, Educate yourselves read up on it, the good out weigh the bad !! the idea has been around for a long time, Canada has never had a civil war, this is why we cant come together as Canadians !!
Doug Ford has already begun auditing hopefully he's going to put these people in jail he needs to gain control of the O.P.P. and have the Liberal Party investigated. The Liberall party has no power now they're down to 5% from 56% it is time to strike and put them down for good. Trudeau is next.
I guess this is a bit more provincial specific, despite an overly worrying trend. I know too many intelligent Canadians that would let this kind of a slide continue. Stefan, you have as good ideas on many things as anyone on here - why don't get a campaign idea started now so when ur daughter is grown up you can put your name forward for PM!
Shocked to see some of this - watching from Australia. I guess that is what happens when you have a drama teacher leading your Government? Hope you guys find some sense in the next election - is Jordan Peterson going to run?
Immigration has in fact been redirect to places like Saskatchewan. This is particularly true for Economic immigrants. Google Saskatchewan immigrant nominee program and stats for investor class immigrants
Trudeau does not work for Canada he is working for the globalists EU, UN, Soros, IMF Etc.
The goal is to destroy canada so the globalists take over the banking system and resources you see this Happening
all over the world Open borders massive welfare immigration, government in massive debt, destruction of culture etc
We have to throw Trudeau out of power
debit, outhouse economics, the deeper the hole the better off you are? trying to get out of personal debit, but the over all personal debit in Canada is scary, do not know how the average is even possible.
When banks and countries, who are in huge debt also, accept Ontario's debt, there is not a problem. Right???
So they keep going further in debt.
Problems will grow faster over time, and to solve anything, solutions have to be increasingly more radical.
The Conservatives fixation on drooping the Corporate tax rate, as Doug will to 10.5%, will do nothing fiscally constructive but continue to destroy our economy. The Liberals are also corporatists and have egg on their face too. But the Conservatives, as being the economic masterminds, is a joke at best. Trickle down economics has never proven to be beneficial for an economy and is a fraudulent economic scheme.
i am sick I think PRESIDENT TRUMP WILL PUT IN A BID FOR canada when we declair we cant pay the interest on the canadian dedt especial ontario we just throw it in as bonus to get the bidding started. thanks to the liberals and their open border crisis
The Liberal Party has decimated Ontario's manufacturing industry with the highest energy prices in Canada. White collar liberals passing measures to feel good about climate change at the expense of blue collar workers.
your are so right. this is not my Ontario. feel like I don't belong anymore and my kid will never know how it used to be. I live to make her feel some sort of semblance butt the education system is ruining the children. Thank God for Dough Ford and Trump. Lets hope they can reverse some of the damage.
No! You, we, they do not have to learn lessons, do something whatsoever. Mother Nature, which encompasses the Laws of Economics (aka mathematics) will do all the heavy lifting. It always does, recession after recession. The only reason recessions are getting less often is because they now use interest rates. I recall in the 1970's the mantra was maintaining full employment. Wage increases, price controls and capital strikes. But a recession/depression is always history rhyming. And repeating.
Dear Stefan - please look into the Lewisham East, London election today/yesterday. Anne Marie Waters of the 'Britain First Party', which stands against radical Islam, was prevented by Antifa's violent protest from attending the hustings last night and will likely be prevented from attending tonight's count for the Lewisham East parliamentary seat. This is part of the globalist shut down and needs to be widely reported on.
Sincerely Mrs Middle-England
PS PLEASE SUPPORT STEFAN FINANCIALLY - A regular monthly Paypal payment works best for me for currency exchange reasons. I cancelled my TV licence sometime ago and redirected it to Stefan, he's much better value!
My question for the "tax and spend like drunken sailors" politicians about transfer payments is this: What happens when all the provinces become equally poor because of the debt and tax burdens? Who will the money be stole... I mean transfered from then?
It always comes back to Cloward-Piven. If you are not familiar with it, google it and all will make sense. Government spending is designed to collapse the economy and then the Nation State, paving the way for International Socialism.
The problem with Canada's politics: you have one party that is straight up hammer and sickle socialist, you have a Fabian socialist party, and you have a progressive party that's called in to be debt lumberjacks.
The rules of the game don't change, the socialists gets way over its head in debt, then the progressives are called in to be a fixer. Outrage ensues as deficits are slashed and burned and entrenched public unions get outraged.
The outrage forces people back to the Fabians, and the cycle continues. The corruption and systemic failures don't change fundamentally, the process marches on.
What you need to do is elect another liberal to run your freaking country . We in the United States need to build a wall on the northern border as well . Make you keep people like jim carrey on your side of the border . Justine Trudouche is your worst enemy ,or best enema , he is the drug ! You should try to find a cure for liberalism , and wipe it out .
Don't worry for the debt crisis, Trudeau has new taxes for middle class. This environMENTAL PM has a carbon tax at the PUMP ...... for more pollution ? We will pay for new pipelines ....for more pollution. Carbon tax and otbers will only help to pay the debt.
This is not a real balanced view of Ontario or Canada, in general. Why not bring up the near economic death by some conservative governments?? If you wish to diss the left, then OK and Great, but do attempt to be fair and balanced and not be an obvious conservative supporter.
Do a video about how the Liberals want to boost our population to 100 million people in the next 40 years. What an absolute shit-show that will be. Also, where the *hell* are they planning on getting another 65 million people?
Roughly half way through this video, when talking about Net Debt per Capita, Stefan, it sounded like you didn't realize that this was CHANGE (i.e., increase) in net debt. (If you acknowledge this latter in your talk, please disregard.) I'd be interested in seeing Total Net Debt per Capita.
In 1974 I spent some time living in TO. I walked around Toronto marveling at Queen"s Park, OHIP, cheap and clean public transit, safe streets, friendly cops and housing that people could actually afford. I wondered how all these great things were paid for. I found out. I went back to TO recently. Gas--$5.20/gallon. Loaf of bread $2.30. Dozen eggs...$4.00. Pack of smokes %15.00....case of domestic beer...$50.00 and sales tax of around 15% for everything. Then I read about the gas plant scandals....about how much Ontario was pissing money away on candy store stuff......and I felt sad. I saw friends, once happy, working for decent money, living in decent places now living in bachelor basement apartments for $900.00 a month making far less than they did 20 years ago. The can got kicked down the road back in the 70s.....and landed 40 years later. Yep--socialism sure works until eventually you run out of other people's money.
I didnt know much bout canada!!at all!!,...
Why they have so much debt???
Whoes their debter???
By the way...Good luck canada....,!!
Its harsh when tom yum goong crisis in Thailand....but we all pass that time....!!!
U can overcome that too!......luv from Thailand!
Canada doesn't pay nothing to anyone, except whay they stole and from our pockets. Sometimes they pay 0.000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000001 percent of what people deserve.
Why don't you go to work and do something, instead to gossip for profit. Stop talking about the money, you just lie about money and you have never seen any money in your life. Say to the people where you live and whether you really live here.
When someone tells you the truth, you think this is bad, instead is good, because no one loves Canadians, this is why they are asking me about accent, because no one loves to hear Canadian documents or born in here, but I AM proud to be Montenegrin, even could be also Canadians according to birth and documents, but Canadians don't want to bring justice and foundations for 20 times better than Bill Gates according to inventions and now look how to steal again something. Canada has enough money for living, as taxes are paid from us at all times, but the problem is stealings from you and you don't want to work, but looking after other people's business, so manage yourself.
We don't get any reward and if even Canadians stay away from me would be great for my success, because Canadians are the most stupid people in the world I have ever seen. No inventors, no fair people, haters, prostitutes, forced marriages for interest, no love in anyone except through interest, hate crime, damaging all Montenegrin success, jealousy, faith pretenders, Canadians are almost all criminals, unhealthy people and bringing their misery onto others, talking about the money which they don't have and poor nobodies, spying between countries from CITYTV and other stations...., stealing my money together with Canada and Cuba through SUNWING in Rafael Freyre DON LINO hotel package, organized crime and bringing hate crime against Montenegrin culture and we do not need your lies about money and investment, because you just take and steal inventions, sport success, money, but you are good to give given from others food banks and to the best inventors 300000 CAD for 40 years , instead 2 T$. What a cheap nobodies. Be with your own poor people and no inventors and stop being with us to gain success and prosperity. This is why don't make friendship with us, and keep your hate including with Slovenians and stop pretending you are Canadian online. Can you people stop talking and create something, not just empty talk. We can succeed, just stay away from us, we cannot be together in anything without investment as towards others, so for this reason keep acting and go with those nobodies Toronto Film School liars. Let's see where you can get with them... We don't need you. At least respect our background origins as other cultures have, but they are all criminals. So you are as well.
The truth about investment in Ontario is, that here people lie about investment and have no money, instead keep talking and stealing my money and inventions with free learning. Just stay away from us, because everything I accomplished has been done only from me and Canada hasn't done nothing for me, even I AM the only without crimes and laundering.
All very interesting and informative. But if Ontario was stupid enough to elect the NDP and the Liberals before, they will be stupid enough to do it again. Stefan is appealing to logic, but most are incapable of logic.
Even though Ford won, it was only because the Liberal and NDP votes were split. Ford got 40% of the vote. He won because he was first past the post.
So to the left I say, don't worry. This is only a pause. With patience, we can rely on your stupidity to eventually fuck things up.
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