Comment 51791

By bobinnes (registered) - website | Posted November 17, 2010 at 16:19:53

Sorry Meridith, we got side tracked into our discussion silos!;-)
I have trouble with your basic question because I believe quite strongly, that before either can be designed, let alone initiated, the money will dry up. Ontario is >222B in debt. Just today, BNN showed a chart of US Muni Bonds crashing. We are not in such bad shape but our situation will rhyme.

My attempt to describe this outlook is here

http://www.robertinnes.ca/FutureVision.h...

The same logic means that despite Seancb's optimism about our transit plans, I don't believe they are solid at all. I'd guess that Hamilton will have to chose between basic repairs (sewers, roads etc.) and improvements. I hope it choses the former - for now. Later on, when depression 2 is in full swing, we might be able to, if we have any real savings, do what we did during the last, which, according to my dad, was to build the Piggot building. That was private money so if that history holds again, the city will have no money. During the election, i heard that the city is about $400m in the hole which kind of puts our Future Fund into proper perspective. The trick this time will be to protect savings from the ravages of the inflation being unleashed in the US (and anticipated by our tax codes). So, with good planning, LRT or BRT could be tomorrow's Piggot project and with any luck, might once again be based on quiet electric.

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