Now Is The Time For A Massive Investment In Infrastructure & Manufacturing To Reduce Our Dependence On Foreign Nations

With interest rates that are near negative in real terms, and with Coronavirus exposing our vulnerability and dependence on countries like China for the most basic things.

As you read this, the TSX is in freefall.

Oil prices have collapsed.

Coronavirus is spreading.

As a result, interest rates – which are already very low – are likely to be dropped further, while the yield on government bonds is incredibly low as well.

At the same time, Coronavirus has exposed our vulnerability in many key areas, including the fact that we are dependent in part on China for things like medical equipment and medicinal drugs.

What this means is that now is the time for a massive investment in infrastructure and manufacturing, in order to cut our reliance on foreign countries.

Canada is already going to see big economic losses, as our economy had already slowed and investment was already fleeing many areas. Because of the big deficits run during good times by Justin Trudeau, we will face bigger deficits in the bad times.

That said, if the economy collapses, and if we remain dependent on foreign countries, the deficit will be bad anyway.

So, now is the time for the government to use deficits for something that will actually help the nation, rebuilding our infrastructure, and rebuilding domestic manufacturing capacity in areas like steel, defence, medicine, as well as providing support for our oil industry.

Such an investment would help build Canada for a generation, and help insulate us from a world economy and system that has become far too globalized and unstable.

We need to build up, strengthen, and secure Canada, and the best time to start is now.

Spencer Fernando

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BRUNOshawn harrisDavid FerroNancyWDel Recent comment authors
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Del

Building infrastructure and supporting manufacturing go against the Liberal, NDP and Green policies as they create pollution. Singh and May are leaping with joy that Canada is collapsing as now all the air in the entire world will now become clean.

NancyW
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NancyW

Pierre Poilievre gave a very good speech (even on CBC??) on how we do not have a cushion left from the supposed good economy we had with all the big wasteful deficits and really huge and rising rapidly interest payments on this wasteful debt.
Canada is in dire straights, even more with this wasted gambling puppet government as most Canadians were aware, and now the consequences of these puppets in power must be faced.
Canada needs a Canadian government for Canada always, right now.

David Ferro
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David Ferro

NO WAY Spencer. Bigger deficits and debt are Keynesian socialist monetary policies that created the problem in the first place and which lead to more money printing, rigged ultra low interest rates, and monetary and price inflation. Here are a few solutions for you. Take a listen; https://www.youtube.com/watch?v=F0QaRgCCCYM&t=1482s

shawn harris
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This isn’t the time to spend even more borrowed money, that only further raises taxes, deficit levels and further ruins the economic future of our children and young adults. After all, since Spenser Fernando has stated that our economy and finances are in terrible shape, then spending even more borrowed money at the taxpayers expense, is extremely risky and gambles our economic future away by picking winners and losers , just like Trudeau is doing now. With nothing to show for all the billions spent. If Canadians want a real economy with a future, then the best the government, any… Read more »

BRUNO
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BRUNO

Our prime minister did promise us that he will borrow the money to build infrastructure,but that hasn’t happened the only thing that has happened they bought 20 busses for Halifax.That was mentioned in the parliament.Where has the money gone.We know that certain amount was given to China to build their infrastructure,and what we got from China is a middle finger.What about the rest of the money that was splurged around the world.If borrow the money to build our country and then give it away.We haven’t been fair to our country and its citinzens.