17 December 2008

The Center of the Universe...

...is expanding.

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RELATED: Hey Ontario... got too much money?

Hopalong Howie & Premier "I won't raise your taxes" McSlippery have got a plan to fix that...

-- TORONTO -- A proposed $3.4-billion rescue package for struggling automakers is likely just the beginning of the money Ottawa and Ontario must provide to keep the sector afloat, Ontario Premier Dalton McGuinty said Wednesday.

NDP Leader Howard Hampton said he believes Ontario's share of the current auto aid will be about $1 billion to $1.5 billion, but that more overall economic aid is needed.

"We should invest a further $2 billion in an economic stimulus package," Hampton said.
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4 comments:

langmann said...

I cannot believe what we have gotten into. All kinds of so called experts are coming out of the woodwork proposing billion dollar rescue packages for all sorts of things. However I have yet to hear one solid shred of economic evidence behind bail-outs? One solid bit of evidence where it has averted a recession. If anything the evidence demonstrates that it prolongs a recession and deepens it.

I am afraid to ask where all this monopoly money is supposed to come from.

As you so rightly pointed out, if the big three auto companies fell, they would go through a process of restructuring and likely emerge meaner, leaner and actually ready to compete. All these bail-outs remind me of the typical dutch boy finger in the dike response.

If the free market has decided that something should fail, there is a damn good reason for it.

One thing I know for sure, once these big businesses get matched with big government money they suck on the tit forever. The whole world has gone mad.

Neo Conservative said...

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"langmann says... I am afraid to ask where all this monopoly money is supposed to come from."

because you already know the answer... it's the same place mcguinty's marvellous ohip tax came from... your pocket.

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langmann said...

because you already know the answer... it's the same place mcguinty's marvellous ohip tax came from... your pocket.

So lets see, we spend a pile of money now, run up a nice big debt, then we raise taxes later to pay it back, thereby hurting the economy again later.

I'm getting sick of these politicians running around all self important right now. Only one of them has any training in economics, and the MSM is leading the charge of this light brigade.

We're not going to spend our way out of this recession, we're just going to spend our way into debt and corporate servitude.

Neo Conservative said...

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i'm afraid, my friend... it's already happening.

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