If you had any doubts about it before, put them to rest. We are on an economic merry-go-round. At least in terms of “job creation”. It isn’t hard to figure out one reason why. In fact, you’ve probably seen the answer on a bumpersticker. It said something like: Lost your job? Keep Buying Foreign. [Yes, bumperstickers are alive and well- http://wwwesilo.ca/bumper-stickers/]
It’s not that buying imported goods is a bad idea At its most basic level, this is how objects and goods not available where you live can be sought out and purchased. Sixty years ago- if you needed a washing machine or a television set or a stereo- you didn’t buy imported goods. That’s because the Canadian economy benefitted from Canadian corporations such as Westinghouse. How? Because they employed Canadians at a good wage to manufacture Canadian goods for Canadian buyers.
Enter the merry-go-round We’re all human. We all want to improve our lot in life and we generally expect to be compensated for our efforts. That means higher wages. That means less profit for manufacturers- unless prices are raised. At first this seems like a fair operation- higher wages means higher spending power. Higher spending power means goods that have raised prices are affordable. This cycle ended badly. Eventually the lure of offshore manufacturing with exponential profit margins but an end to Canadian manufacturing. What about the Canadian automotive industry? It is subsidized by our taxes. [You might also remember the Auto Bailout] To make matters worse, the last time we checked there weren’t any Canadian automobiles and that’s pretty sad. After all, we’re the nation that built the robot arms for the Space Shuttle and we’re the nation that built a modern jet fighter-interceptor The Arrow- and that was back in the 1950’s.
Stop digressing Here’s a question for you: Aren’t 1600 workers worth subsidizing? Where is their bailout package? With close to 900,000 Ontarians on Welfare or Disability will there be room for another 1,600? And what about the future? More layoffs in other sectors will continue to load up Ontario’s and Canada’s welfare systems. Who pays for the welfare systems? The Canadian citizen taxpayer. Enter another merry-go-round CP