The black banana
Bad news for Dalton McGuinty: Ontario’s economy is Wall Street Journal. When Ontario’s economy grows slower than those of other provinces, we like to reassure ourselves by saying it’s because Ontario’s is a “more mature” economy, evoking images of a beautifully ripened fruit. But when Ontario’s jobless rate surpasses the national average, as it did this past year for the first time in its history, that’s a pretty black banana.
While economists are striking alarm bells, what’s interesting for McGuinty is that, according to what I’ve been told, the reality about the economy hasn’t yet sunk in with the electorate. Polls show that most Ontarians think the province is on the right track. Presumably he’ll want to keep us thinking blissfully. Nothing to see here, move along…
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