Canada is on a fast track to financial ruin

Dear Editor,

I realize I am not the brightest bulb on the tree or the sharpest knife in the drawer, but even looking through rose coloured glasses I can see that Cuba is not Utopia. If it was, why would thousands risk life and limb to flee to the USA. Perhaps it is because of all the free education and they are just rebels who do not want to go to school. I have read of Cuban Doctors who get paid $60 a month, driving cab in off time and making that in a day in tips from gringos. Bernie Sanders likes to point to the Nordic countries as successful examples of socialism, the problem with that is by their own testimony they are not socialist. The Danish Prime Minister Lars Locke speaking at Harvard and having enough of Sander’s slurs stated “Denmark is not a socialist but a free market country.” Norway another socialist’s ideal has a stellar financial record, it’s GDP per capita is over 65,000 US dollars, poverty rate less than 9%, among the lowest in the world and has a sovereign wealth fund of over a Trillion dollars - $200,000 per person. It has some of best property rights in the world, virtual free trade, labour flexibility and monetary stability. 70% of it’s GDP results from international commerce. Norway has a large public sector whose job is compliment the forces of the market (private sector) most if not all Scandinavian countries are emulating this model.

Venezuela, which before socialism was the richest country in South America has a large public sector whose job has been to replace market mechanisms, the state controls almost everything, even the few remaining private enterprises through price controls. Venezuela ranked second to last on the IEF, has shortages of everything including beer and toilet paper. President Maduro has increased the minimum wage 26 times in 6 years the latest being 300% to 18,000 Bolivars per month. Sounds like a lot but at the same time a roll of toilet paper was going for 2.6 Million Bolivars. People are going hungry and the country has faced 32 months of hyperinflation, according to the IMF the 2020 inflation rate will reach 15,000%. It’s debt obligations will hit 150 Billion US Dollars - 5 times it’s exports. Not long ago Bernie Sanders was using Venezuela as an example of a socialist paradise. Venezuela was a wealthy country until Hugo Chavez nationalized the oil industry and since 2013 has lost 70% of it’s GDP, it’s minimum wage has fallen over 95% to 10 dollars a month.

We have a PM who has an ideology that does not follow the Nordic model of economic and personal freedom, but the Cuban and Venezuelan model. By the time Eastern Canada realizes what he is doing we will be the North American Venezuela. Canada’s debt has recently under PM Trudeau doubled to over a Trillion Dollars, equal to Norway’s reserve, and much more to come. I heard a report on the weekend that for every dollar in lost wages due to COVID the federal government has handed out 7. This is not sustainable and Canada is on a fast track to financial ruin, it’s citizens living like Venezuelans. Alberta should have left Canada long ago, we could have been the North American Norway, but late is better than never.

Gord Snell

AKA Mr Separatist

and Mr Contributor

Three Hills , AB

PS: Saturday night 6 of us walked through Anderson Park, following COVID protocol, then enjoyed a picnic lunch outside. If you are going stir crazy in the lockdown, a walk in the park is a great diversion, enjoying the lights and appreciating all the work that went into the project.