Guess what? Tim Banks wants more construction
Tim Banks, blogging at the cottage waiting for the next spending boom
By Stephen Pate
Guess what? Tim Banks loves the idea of $500 million in new construction. Wow! Who’d a thought that?
Tim writes -
“I expect that without this announcement our construction industry was looking at very weak forecasts over the next couple of years…”
Yup, expansion at all costs, at the wrong time benefits construction companies well connected to the the government.
That kind of thinking is what brought the United States to the brink of a world depression. We cannot have growth at all costs for long without a collapse. As much as we would like the economy to grow forever, it can’t. It’s not sustainable. We need to contract for awhile.
Some are predicting the stock market will continue to slide down to about a 4,500 DOW. That will hurt a lot of people. We should be careful how we spend our cash and not plunge into projects that make the rich even richer.
Only 8 years ago on the collapse of the last great hope, the dot.com boom, big business and banks grabbed a hold of the housing industry and pumped it up as the new white hope. Before that there was the build up of energy deregulation stocks that resulted in the Enron crash.
Right after a 60% correction in technology stocks, people were encouraged to jump right into housing and REITs. Short term con artists made a bundle. Most people lost their shirts. I stayed out of the market because the experts said it couldn’t last and it didn’t last.
By trying to avoid the last correction, this one is going to be a whopper. As we see every day, the world’s leaders are powerless to stop the downward slide. What a funny thing to watch Stephen Harper blame it on the Liberal coalition.
We need sustainable growth and not growth at all cost. Mr. Banks likes projects that benefit the rich and put us into debt long into the future.
Surely we have enough of Banks’ ugly buildings. He has enough money and sports cars to satisfy his lusts. Slow down Tim and smell the Corinthian leather.
Growth at all costs is a bankrupt policy.
If there ever was a time to live within our means, this is it. Things are so crazy we can’t predict anything.
And don’t believe that Tim Banks won’t be at the Liberal patronage trough. He does a lot of breast beating in public but his is really quite well connected to the inner power of the Liberal government.
Despite his posturing “I’m on the outs” Tim Banks and his companies profit from his long standing connection to the Liberal party. He still hasn’t disclosed how much he reaped in the Immigrant Scam. The amount is reputed to be astronomical.
