Comment 38002

By canbyte (registered) | Posted February 13, 2010 at 23:36:57

I personally will probably benefit from LRT induced property increases and have no qualms about change in my little corner. But A Smith and others raise an important issue about cost and debt levels in these uncertain times that enthusiasts are not addressing except with hopeful statements about development. Projects completed quite a few years ago in a booming America or Calgary are no comparison for a struggling, declining, debt and public sector riddled city, seemingly unable to attract wealth generating private sector businesses, especially during the continuing derivatives and credit meltdown. Will both our steel companies survive the next downleg in the US? Hmmm.

Overall, this seems not the right time but hey, Hamilton could go ahead anyway and then just declare bankruptcy as California and a dozen other states will do when interest rates rise in its natural cycle. Maybe Ontario too, given our debt. Not sure what happens then but maybe it gets privatized. Maybe GM will buy it up like their successful 30s effort to bury public transit systems. Perhaps this might even suit GM's most recent investor -- that would be you and I, the hapless taxpayer (or have folks forgotten already!). Go Peak Oil!

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