Owning isn't all
Re The false dream of home ownership (Feb. 22): A couple of years ago, my 30ish-year-old son was lamenting the fact that he didn't have a home. I remember saying that he might never be a homeowner, but he should stop beating himself up about it.
Rob Carrick is right to say that home ownership may just be a dream, albeit a Canadian dream that's well ingrained in all of us. Young people are struggling financially and may have let this dream overshadow the reality of the times we live in – realities that include obscene housing prices and unpredictable markets.
Thanks for pointing out that ownership isn't everything.
Donna Sakuta, Milton, Ont.
Fourth option
Re Why travel the world with samples if Canada's goods aren't available? (Feb. 6): Allan Gotlieb and Matthew Kronby welcome our new government's "according a high priority to our relations with China," but question the need for a new trade policy review, leading to the so-called Third Option and our long-running effort to diversify Canada's international trade, there being no need for more studies as the Third Option was selected after an extensive policy review "more than a half-century ago." Instead, the authors urge the government to build infrastructure to ship resources to countries in Asia.
In 1988, we earned a $1.6-billion surplus trading with China; by the end of 2015, that surplus had turned into a $45-billion deficit. With South Korea, our trade deficit of $1-billion increased to $3.8-billion. And with Mexico, a modest deficit of $66-million increased to $2-billion. That shows a rather unprofitable trade diversification that managed, over those years, to turn a modest combined surplus into a deficit.
Looking at those figures, would a prudent government judge the Third Option to have been a great success and continue along the same road, or would it call for an urgent review to develop a better trade policy to reverse the trend? Otherwise, those increasing deficits will surely erode our prosperity, and with it our independence.
Prime Minister Justin Trudeau, you are right on both counts: First, in "travelling the world" and learning from successful trading nations, and second, in being determined for your government to make no rush decisions, and to subject every important issue to a rigorous analysis before acting.
John Bruk, founding chairman, Asia Pacific Foundation of Canada, North Saanich, B.C.
One for 'gimmick'
Re A recipe for growth, or a desperate gimmick? (Feb. 20): It pains me to read the arguments in favour of negative interest rates, especially where Prof. Miles Kimball suggests that people "get paid to borrow" and "argues that negative rates are vital to restart growth."
In my opinion, too many economists are focused on growth, growth, growth. They want us to spend and the banks to increase lending. But from all observations, businesses are accumulating cash and forgoing investment. Are banks supposed to lend to those with poor credit ratings, those who have no work, those who will spend the money on non-necessities and those who have little inclination to repay loans?
How can people save for retirement and invest in RRSPs while we emphasize spending this way?
Robert Street, Halifax
WestJet classic
Re WestJet Airlines weighed down by Alberta job losses as profit plunges (Feb. 2): It's not surprising that WestJet is beginning to struggle. The unique culture and attitude that made the company so popular 20 years ago has long disappeared. WestJet used to bill itself as a low-fare, no-frills airline, but has since evolved into a grey corporate monolith, indistinguishable from its competitors.
It was a mistake to implement baggage and other fees. These have only caused more people to reconsider their travel plans. WestJet needs better leadership and a return to the business model that made it "the little airline that could."
Ken Erickson, Airdrie, Alta.