BUYER BEWARE: Mark Carney Pitches a Canada “Wealth” Fund - Funded With Government Debt - What Could Possibly Go Wrong? - EnergyNow
BUYER BEWARE: Mark Carney Pitches a Canada “Wealth” Fund - Funded With Government Debt - What Could Possibly Go Wrong? - EnergyNow
Source: EnergyNow
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DW NOTE
Carney wants Ottawa to borrow billions to fund industrial projects that can't raise private capital at market rates. The pitch is that state-backed debt is cheaper — which is true only because taxpayers eat the default risk that private lenders won't touch. This is how you get a national balance sheet that looks like Ontario Hydro in the 1990s: underwater assets, compounding interest, and a generation stuck paying for someone else's vision of strategic investment.