Canadian hidden barriers: Federal government quietly writes off loan — but won't reveal sum or say w

Discussion in 'Canada' started by shockedcanadian, Jun 26, 2018.

  1. shockedcanadian
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    shockedcanadian Platinum Member

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    This is how secretive, untrustworthy, unaccountable back stabbing governments work. Canadian feds use taxpayer money and give a loan that they quietly write off, never expecting to get the money back, and they won't even tell the nation which company it was! A la, the old USSR.

    You can be sure this was GM or some other U.S auto manufacturer. We are buying your jobs, massive subsidies unmatched, especially for our relatively small economy (compared to the U.S).

    Just one major reason why you have lost 100's of thousands of jobs in Ohio and Michigan, Corporate welfare, with plenty of government Canadian operatives reaping benefit within the company. Do you think your Intellectual Property is safe in such a centralized system?




    Federal government quietly writes off loan — but won't reveal sum or say who got it


    Finance Canada won't provide any details of loan write-off | CBC News

    The Liberal government appears to have written off a taxpayer loan to the auto industry in March, but is refusing to say how much the loan was for or to provide any other details.

    Ottawa has been carrying large, stagnant loans to the auto sector on its books, and repayments have been past due since at least 2010. That was the year that followed a federal bailout of GM and Chrysler that was made in co-ordination with a much larger cash injection by Washington.

    The most-recent public valuation of commercial loans that remain in arrears shows a total of $1.15 billion still owed to the federal government as of March 2017.
     
  2. Syriusly
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    Syriusly Diamond Member

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    So let me get this straight.

    Canada loaned American auto companies lots of money.

    And the American companies stayed in business.

    And this is bad for America?
     
  3. shockedcanadian
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    shockedcanadian Platinum Member

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    This is bad for capitalism, period. Furthermore, yes, it's bad for America.

    GM was going to move back to Michigan and Ohio, because of these loans, they didn't, even as the economics of staying in Canada weren't there. This is corporate welfare and Canada is happy to do so as they use covert
    operatives in these corporations in Canada.

    There is an article in the National Post today talking about the potential for auto tariffs, they say that if Trump goes forward with it, they expect GM and others to close up shop in Canada and even Mexico, to move back to the U.S!

    Canada refuses to compete to develop our best and brightest, it's a caste system. Nepotism and weak workers, generations of state "managers", and you wonder why they all rejected Trumps offer to get rid of all tariffs?

    These tactics don't just cost Canada and our liberty, they also cost American taxpayers who feel the need to meet subsidies and rewards. On a par basis, America will always win, we try and bribe our way to prosperity. Optics and fluff, no substance or innovations, that is the Canadian Way.
     
    Last edited: Jun 26, 2018

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