It’s not enough to “buy Canadian”, we need to own it
It’s not enough to “buy Canadian”, we need to own it
The U.S. president is turning the world economy upside down, holding everyone hostage in the process. Canada’s position is especially precarious. After decades of the U.S. pursuing a neoliberal agenda with free trade, deregulation and privatization, Canada is deeply integrated into the U.S. economy...
A massive scourge is US private equity buying up any successful Canadian business. Canada Goose, Tim Hortons, virtually all our private media.
Selling successful Canadian enterprise for a one time payout is, well, selling out your country.
The other problem is subsidising foreign capital to operate in Canada. How many billions have we given to US auto? If it was important enough that US auto companies needed the cash, our Federal and Provincial investments should have been in exchange for equity, like any investor. Welfare for the rich and cold hard markets for the poor is what lead us to this crisis.
A lot of private equity is funded by the CPP and the Ontario Teachers Pension Plan. We need them to invest in growth instead of selling out for profit.
I don't mind Canadian investment in private equity. The CPP, Omers, OTP etc buying private assets. This is their function and it's essential.
I do mind having Canadian Media owned by American fascists and bleeting to the masses. Or the hollowing out of corporate Canada with an american branch plant economy.