We’re living in a bubble, and it won’t be pretty when it bursts

The April 20 editorial “In this election, Eby should be put to the test,” summarizes so thoughtfully the situation we have in B.C.

You can’t have a prosperous B.C. without a healthy and diversified business sector based on a mix of new technologies, strong manufacturing and sustainable use of the core resource industries that made B.C. great in the first place.

If you think you can achieve economic growth based on social programs expansion and increased size of government, you are kidding yourselves.

Governments do not produce economic activity and in the case here in B.C., recent policy decisions not only stifle economic activity, but the exodus of capital will only accelerate.

David Eby’s administration has pulled a fast one, snatching the eco-conscious Green Party faithful by embracing green policies that could choke economic vitality, gift-wrap opportunities for global rivals, and slap an “uninvestable” sticker on B.C.’s forehead.

Yet, the NDP might just cling to the throne with not much over a third of the vote, thanks to the B.C. United Party and the B.C. Conservatives duking it out for the same slice of the pie — the long-cherished free enterprise voters.

For the NDP’s grip to slip, their core supporters would need to bolt, driven away by blunders in tackling the bread-and-butter issues of housing and health care.

With the October election looming, the odds of a political earthquake seem slim. Sure, politics is full of surprises, but betting on a B.C. ballot box bombshell this year? Don’t hold your breath.

However, I have been telling people that this will be the biggest election I have ever been part of.

Let me explain.

The explosion (number of workers and pay scale) in government at all three levels, with now a looming global sovereign debt crisis, has made B.C. and especially this region extremely vulnerable to catastrophic consequences.

Canadians are now understanding the financial disaster the federal Liberal/NDP coalition have created, and with B.C. not ever getting their fair share from Ottawa, the pain will be even more felt.

Add the fact that our representation in Ottawa is both weak and ineffective, this region is even more impacted.

Then you add possibly the most radical and economically destructive provincial administration ever, then the negative effects are amplified.

And finally, we have 13 bloated municipalities plus the Capital Regional District, with some more focused on virtue signalling ventures to appease their base while having no ability to restrain spending.

When you combine this with individuals’ rights and properties continually being attacked, you have a jurisdiction that will not attract the capital necessary to grow, but ultimately also force many to flee. I have heard so many stories this past month.

This is the most critically important election for me and others.

When I talk to local people who came from Eastern Europe to flee socialism and communism, you come to realize just how high the stakes are in October.

Canada has always been in a bit of a bubble and B.C. is a real bubble. But the bubble of all bubbles has been the Victoria region — and sorry folks, that bubble is broken and it won’t be pretty.