Jun 21 2007

We’re gonna be so stinking rich! Well, my country will be. I will still be working…

We may have to start rethinking that self-image of Canada as a first world nation getting its economy exploited like a third world banana republic.

Yes, our economy is still far too reliant on raw commodities exports. And, yes, virtually anytime a Canadian company gets big enough to get noticed, it gets taken over by multinational sharks.

But for the first time ever, we’re on the verge of becoming a creditor nation. Assuming we continue to ride the jetstream of petro-dollars and surplus federal budgets, our economy will be in the black by 2010.

Then we can just plug our surplus into a giant RSP for all of our citizens and we’ll be on our way to joining the ranks of Sweden and Denmark.

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One response so far

One Response to “We’re gonna be so stinking rich! Well, my country will be. I will still be working…”

  1. on 24 Jun 2007 at 5:01 am

    Well, of course, every time one of those multinational sharks takes over a Canadian company, it means another influx of dollars into the Canadian economy, and it tends to push the Canadian dollar up (for better and for worse).

    Also the standard example of a Scandinavian country with a giant RSP for its citizens due to tremendous natural-resource dividends is, of course, Norway.

    But then, such concepts tend to raise ugly spectre of the NEP and the pleasant example of the Heritage Fund in Canada.

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