It’s the Private Economy that’s Broken, not the Federal Government

Read the original post here: https://dougaldlamont.substack.com/publish/post/143346997 Canada has a housing crisis - a private market crises. Builders, lenders, investors. We have a debt crisis attached to the housing crisis. But it’s all private sector. So why is the Federal Government being asked to intervene? Because the private market is broken. Canada also has a productivity problem - a private sector problem, often solved by investing in new capital machinery that makes employees more productive, with higher wages and greater output. That hasn’t happened, because private banks loaned trillions for real estate instead. Canada is not the communist or socialist place people claim and believe it to be. It is profoundly economically conservative. Quite frankly, you must be on the extreme right-wing to think that Canada is that far left when it comes to economic beliefs. Most governments in Canada right now have much lower taxes than in the 1950s under Progressive Conservative Prime Minister John Diefenbaker. And there are plenty of extreme-right libertarians in Canada, and there are prominent think tanks that try to normalize their radical views, which are, quite frankly, a combination of dystopian power fantasy and long confidence scheme, and increasingly delusional theories that are divorced from reality.     Get full access to Dougald Lamont’s Substack at dougaldlamont.substack.com/subscribe