Friday, December 05, 2008

Maenwhile, in the real world

Ontario lost more than 60,000 jobs last month.
I suppose the Clampetts over at Small Dead Animals, the hillbillies born on a sea of American-owned oil, will think that's funny.
By the way, if Alberta is America's largest foreign oil supplier, why doesn't Calgary look like Dubai?


Anonymous said...

Considering the relatively uninterrupted economic boom that Ontario has had since 1949, you don't have to be an SDAer to wonder what went wrong in this province over the past generation.
Heard a economics commentator say last night that the economic grim reaper was going to take care of the "Emerald City" of Dubai with the current direction in oil prices.
Said $25 per barrel was not likely. Same price as when George W. took office in 2001.
He also said that the next horror story would be commerical real estate after Christmas. Spend those Gift Cards when you have a chance,kids.

Ottawa Watch said...

Yup. It's going to get grim.
For the past fifty years, we've watched as Ontario's heavy and light industry has been hurt by unfair competition and dismantled by owners who tried to save money by shipping the work to the third world.
What's left is an economy of paper-pushers, with whatever productive capacity there is being so heavily mortgaged that debt servicing consumes all real profit.
Very few industrial jobs came back after the 1981-83 recession. In fact, NAFTA added to the problems as plants were packed up and moved to Mexico or the US South.
It's not just the auto-based economy that got whacked. Furniture makers, appliance companies, tool companies, plastics, paper, lumber, electronics -- they're all gone. Small retail has been wiped out by big box stores.
Next to go: publishing, media, "information technology".