I’ve been thinking recently on the recession we are in and its lasting consequences on Canada.
This is/will be unlike another down turn we’ve ever experienced.
This is the continued deindustrialization of Canada; it is a trend that we will not be coming back from, ever.
All the job loses we are experiencing will stay gone; the manufacturers who have gone to the States, to Mexico, to Brazil, to China or to India are never coming back. Companies are not going to close a plant in China and move production to Canada. Sorry, but it’s just not going to happen.
We are in a situation where any stimulus package will do little to heal our economy. We are treating the symptoms and not the disease. If we do not change the path we are heading down, Canada will be essentially a third world country in the near future. I’m not being overly dramatic.
We are basically irrelevant to the world economy, we are just so small in scale. Many developing countries are blowing right by us in all economic scales.
We need to be more productive, more efficient, create R & D and be willing to take risks, and we are doing none of the above right now.
Welcome to a new great depression.