Roy Tyler Whyte
CDM
July 10,2003
The following information is to be viewed at your own risk. Some of it may really piss you off. There are things happening in Canada that the mainstream corporate media are not telling you. Make up your own mind as to why they refuse to acknowledge these problems and trends. When you are done reading this – tell someone you know about what irked you today – more Canadians need to know.
Did you know that under NAFTA Canada has allowed itself to be the most foreign owned developed nation on earth? Between 1998 and 1999 foreign takeovers doubled! Foreign ownership of key industries such as energy, transportation, and mining are at or nearing 50% total foreign ownership.
Of Canada's top 500 companies a full 35% are foreign owned. From Mel Hurtig, "Also, foreign interests control more than 50 per cent of 35 different industries in Canada, including the manufacturing and chemical industries," he said. "Exactly zero industries in the U.S. are controlled by foreign interests, and yet U.S. investors often call us nationalistic if we try to protect our own interests"
Did you know that since 1987 Canada has directly shipped military goods valued at almost $400 million to countries involved in hostilities? How about the fact that Canadian military exports total some $4 billion per year?
In 1973 the richest 10% of families with children under 18 earned 21 times more than the poorest 10% of families with children under 18. In 1996 they earned 314 times more.
Today 60% of Canadian families with dependent children are earning less than in 1981.
Between 1982 and 1998, the Royal Bank of Canada received $2 million in grants, even though their 2003 first quarter profits were $779 million – just as they are year over year!
Do you think the banks actually have all your money? Think again, since 1991 with the passing of the Bank Act – Canadian banks have a reserve requirement of 0%. This means in reality the bank would be lucky to have half a cent for each dollar accounted for by their depositors. So if there is ever a run on money – and it can happen, look at Venezuela and Argentina – the Canadian banks will be able to give you if your lucky - 1 cent on every dollar.
Did you know that almost 22 cents of every tax dollar generated in Canada goes directly to the bankers to pay for outstanding interest charges on government debt? As well only 5% of Canada’s national debt is from actual government deficit spending – the other 95% is from compound interest!
Did you know last year the indebtedness of the average Canadian family rose to 100% of after tax income for the first time in history?
Foreign investment as touted by our elected officials is the end all and be all. But is it? In 1997 foreign investment which was the second highest ever, totaled over $21 billion. If you believe what you are told then that sounds great doesn't it?
Hold your hats - 97.5% of that ‘investment’ went directly to acquisitions NOT investment. There is a very distinct difference there. Otherwise your elected officials are lying to you each and every time they say this ‘investment’ is improving our nation.
Since 1985 over 8000 companies have been gobbled up under Investment Canada. Furthermore of some 200 billion in total investment 93.4% was for acquisitions not investment.
What does this loss of tax revenue and jobs mean for Canada – well one telling statistic is the fact that in 1974 there was not one single food bank in Canada. Now there are over 620 food banks and another 2200 plus additional agencies in Canada to help the chronically poor.
This material is released under 'Fair Use" principles. You can use this material however you like as long as you do not take credit for the work or try to earn money off of it. You may reprint it and distribute the material as long as the source of the material stays in place. A return link to the Canadian Democratic Movement is always appreciated.
CDM
July 10,2003
The following information is to be viewed at your own risk. Some of it may really piss you off. There are things happening in Canada that the mainstream corporate media are not telling you. Make up your own mind as to why they refuse to acknowledge these problems and trends. When you are done reading this – tell someone you know about what irked you today – more Canadians need to know.
Did you know that under NAFTA Canada has allowed itself to be the most foreign owned developed nation on earth? Between 1998 and 1999 foreign takeovers doubled! Foreign ownership of key industries such as energy, transportation, and mining are at or nearing 50% total foreign ownership.
Of Canada's top 500 companies a full 35% are foreign owned. From Mel Hurtig, "Also, foreign interests control more than 50 per cent of 35 different industries in Canada, including the manufacturing and chemical industries," he said. "Exactly zero industries in the U.S. are controlled by foreign interests, and yet U.S. investors often call us nationalistic if we try to protect our own interests"
Did you know that since 1987 Canada has directly shipped military goods valued at almost $400 million to countries involved in hostilities? How about the fact that Canadian military exports total some $4 billion per year?
In 1973 the richest 10% of families with children under 18 earned 21 times more than the poorest 10% of families with children under 18. In 1996 they earned 314 times more.
Today 60% of Canadian families with dependent children are earning less than in 1981.
Between 1982 and 1998, the Royal Bank of Canada received $2 million in grants, even though their 2003 first quarter profits were $779 million – just as they are year over year!
Do you think the banks actually have all your money? Think again, since 1991 with the passing of the Bank Act – Canadian banks have a reserve requirement of 0%. This means in reality the bank would be lucky to have half a cent for each dollar accounted for by their depositors. So if there is ever a run on money – and it can happen, look at Venezuela and Argentina – the Canadian banks will be able to give you if your lucky - 1 cent on every dollar.
Did you know that almost 22 cents of every tax dollar generated in Canada goes directly to the bankers to pay for outstanding interest charges on government debt? As well only 5% of Canada’s national debt is from actual government deficit spending – the other 95% is from compound interest!
Did you know last year the indebtedness of the average Canadian family rose to 100% of after tax income for the first time in history?
Foreign investment as touted by our elected officials is the end all and be all. But is it? In 1997 foreign investment which was the second highest ever, totaled over $21 billion. If you believe what you are told then that sounds great doesn't it?
Hold your hats - 97.5% of that ‘investment’ went directly to acquisitions NOT investment. There is a very distinct difference there. Otherwise your elected officials are lying to you each and every time they say this ‘investment’ is improving our nation.
Since 1985 over 8000 companies have been gobbled up under Investment Canada. Furthermore of some 200 billion in total investment 93.4% was for acquisitions not investment.
What does this loss of tax revenue and jobs mean for Canada – well one telling statistic is the fact that in 1974 there was not one single food bank in Canada. Now there are over 620 food banks and another 2200 plus additional agencies in Canada to help the chronically poor.
This material is released under 'Fair Use" principles. You can use this material however you like as long as you do not take credit for the work or try to earn money off of it. You may reprint it and distribute the material as long as the source of the material stays in place. A return link to the Canadian Democratic Movement is always appreciated.
