As other friends and relatives, I have been trying to figure out why the current Government of Canada would spend $4.5 Billion for a leaky pipeline built in 1953, that was purchased just over 10 years ago for $550 Million. Why would the Canadian Government take such risky financial actions that seriously divide Canada's Indigenous peoples and citizens, every which way, and, as well, seriously brings into doubt their reelection?
Could it be that the Canadian economy, based primarily on natural resource extraction and exportation, is on the verge of bankruptcy, and the only economic vision is more resource extraction, no matter what the ultimate environmental, social, spiritual, or political costs? Maybe, the powers that be, are so desperate to keep the Canadian Economy afloat, that they will do anything, no matter how destructive and divisive, to make money to pay increasing debt, even if it means breaking sacred promises. Of course, this brings up the question of who is owed the debt?
Of the $1.4 Trillion that Canada was in debt in 2016-2017, after $22,776,042,385.00 was exported to China (primarily natural resources), and Canada imported $70,886,236,123.00 (Manufactured products). A trade deficit of $48,110,193,738.00. More than a $48 Billion trade deficit in just one year. And in 2018 this deficit is estimated to increase.
This is what happens when you're the national economic strategy is to spend ourselves out of debt, which does not make much sense to me. This seems to be the thinking of an addict to me.
I am in no way an economist or some genius thinker, but this economic information seems to have some bearing on the decision by the current Government of Canada to purchase the existing Kinder Morgan Pipeline. This decision includes a commitment to fund the Expansion, that is being estimated by independent economists to be up to $20 Billion more to complete!
I could be completely wrong, as I have been on numerous occasions in my life, but this is my best thinking for the day. Very challenging and interesting days we are living today, as prophesied! Your thoughts and feelings are always appreciated. There has to be a better way!
The Cost of Government Debt in Canada, 2017 | Fraser Institute
Jan 19, 2017 - The Cost of Government Debt in Canada, 2017- Combined federal and provincial net debt has increased from $833 billion in 2007/08 to a projected $1.4 trillion in 2016/17. This combined debt equals 67.5% of the Canadian economy or $37,476 for every man, woman, and child living in Canada.