Imagine this, this is Canada’s full prosperity, the lowest poverty can get, but personal debt levels are so high, since oil tanked, that the community can no longer support social needs as it once did. Many people, including people living below the poverty line find it extra hard because food banks are emptier and many are ‘under employed’.
The great expectation adjustment is that there is no rebound from consumer or business spending until something from outside the country happens, such as the USA buying more oil and gas. Domestic real estate has deflated, and sales are (s)low as are seller expectations.
The Canadian public sector pension fund has invested heavily in Uber, as had General Motors which is closing its Ontario plant in 2019. Can such a massive app start up, at $6.5 billion just be a ‘ponzi scheme’ built on investor contributions, when the service offers rides in used cars at $15 a mile per person?
Canada is extremely pro business at the moment, more so because of the delayed arrival of recovery.
But we ought to remember, how easily investors can be moved if the data appears real. The case of Bre X, originally a penny stock, its stock price reached a peak at CAD $286.50 (split adjusted) in May 1996 on the Toronto Stock Exchange. Independent consultants were hoodwinked when mineral samples were laced with gold deposits. (https://en.wikipedia.org/wiki/Bre-X)
Other things that might recoup some money in the interim are business insurance from the corrupt transactions of city managers in Toronto. Canadians finding full employment outside the country. Better health and wellness to reduce health care costs. A separation of community and commerce. Paying off household debt. Finally, much better financial literacy that feeds into family planning. I personally don’t believe in relying on an entrepreneurial spurt because the business environment is too risky to take on new business start up loans. But a tuition loan, that doesn’t have to be repaid until completion has better timing.
Pro business to me is about arbitrage in consumer markets, not business markets which is a dying form of buy low sell high. Business markets need protection or subsidies but pro business is strictly consumer oriented and is an outmoded way of not seeing employees as consumers (“pro trade is better than pro business”).