Latest from Jack Mintz: financialpost.com/opinion/ontario-economic-sick-man-north-america.
What I find interesting about this article is that since 2000 Ontario’s per capita gdp growth has averaged .7% per year, the lowest in Canada. Why does this matter? Very simple, because in Ontario first under Dalton McGuinty and then Kathleen Wynne both governments subsidized and directed investment in renewable energy. All while projecting tremendous opportunity for employment and economic growth. Fast forward to today. We are faced with the probable election of Mark Carney. Personally I believe in looking at how a man has lived and what he has done rather than depending on what he says. The Mark Carney that has existed since becoming Liberal leader does not in many ways resemble the Mark Carney who was climate Envoy for the U.N., who was Co-Chair of GFANZ, Chair of Brookfield or the Mark Carney that wrote Values. So when I look at his lived life I see someone who will try to run Canada like Ontario has been run for 25 years. With government directed private investment. The last 25 years has shown that even with the false markets created by carbon taxation that renewables haven’t created wealth or more affordable electricity or an abundance of employment. The reality is that eventually markets determine the true value and regardless of whether your Donald Trump or Mark Carney you can’t outsmart the markets. As I see Canadians looking to elect Carney out of fear of Trump I am not optimistic for the future based on the actual events of the past.
What I find interesting about this article is that since 2000 Ontario’s per capita gdp growth has averaged .7% per year, the lowest in Canada. Why does this matter? Very simple, because in Ontario first under Dalton McGuinty and then Kathleen Wynne both governments subsidized and directed investment in renewable energy. All while projecting tremendous opportunity for employment and economic growth. Fast forward to today. We are faced with the probable election of Mark Carney. Personally I believe in looking at how a man has lived and what he has done rather than depending on what he says. The Mark Carney that has existed since becoming Liberal leader does not in many ways resemble the Mark Carney who was climate Envoy for the U.N., who was Co-Chair of GFANZ, Chair of Brookfield or the Mark Carney that wrote Values. So when I look at his lived life I see someone who will try to run Canada like Ontario has been run for 25 years. With government directed private investment. The last 25 years has shown that even with the false markets created by carbon taxation that renewables haven’t created wealth or more affordable electricity or an abundance of employment. The reality is that eventually markets determine the true value and regardless of whether your Donald Trump or Mark Carney you can’t outsmart the markets. As I see Canadians looking to elect Carney out of fear of Trump I am not optimistic for the future based on the actual events of the past.
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