Am I reading this right? The Canadian Conservative government wants to add the mining industry to its proposed bailout list? It doesn't make a whole lot of sense to me right now but we also haven't really seen what they are proposing, it's not like they can give money to big producers who made bad decisions and force them to keep mines open. Unless they can manipulate the commodity prices there's not much a government can do.
If subsidies is what they're after it's a different story and it's about damn time we get the respect we deserve, as Canada's leading industry, mining is what makes us a world power and it's what makes our economy one of the strongest in the world. For too long we were taken for granted to provide high paying stable jobs and generate millions in taxes.
When the times for mining are good we're ignored and they try to squeeze every penny out of us. Now the times are bad and they are reversing course to "save jobs", it's all become a big show. Facts and basic economics are being ignored for the sake of a stimulus package that is being forced down the throats of Canadians. I'm sorry, but I'm not buying it. Mining in Canada is controlled by investors and the cycles of commodity prices, not by governments.
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1 comment:
Who would get it even, and how would they use it.
Majors:
Many producers will still have record profits for 2008. Pretty hard to justify a bailout. What would they do with the money? Buy new furniture.
Juniors:
Dare I even suggest what they would do with it.
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