No manufacturing revival can take place in the country where industrial workers are living in $500k townhouses. Sorry, won’t happen… In order to reinvent itself and become competitive again, Canada must come down the earth, pay for bad decisions we took at the times of plenty, and once and for all, part with an illusion that we can find the way to the prosperity by digging the earth and competing along this path with Namibia, Nigeria, Kazakhstan, Mongolia and Russia. Sorry folks, won’t work.
The real estate will deflate. There is no way around. We already tried easy ways. There are no more left.
Thursday, January 29, 2015
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