The next B.C. election looms and a striking dilemma exists.
Only a party can make fundamental policy changes, but since all parties are substantially funded by wealthy donors, that influence is critical.
In B.C. there are neither private nor corporate limits to donations and the shameful “access for cash” is an open invitation to the purchase of influence.
So how to get the policy changes necessary to tame the debts? Or properly fund the stumbling, crisis-ridden social services without bankrupting the nation? How do other nations manage it? Parties must open their eyes — there are other ways.
China emerged as a state only 67 years ago with a shattered economy and no money. Today it is the No. 2 economy in the world and likely No. 1 soon. Little Iceland, five or six years ago, cancelled its enormous interest-laden debt outright and put 23 of its prominent financiers in jail for complicity to defraud; it is now recovering nicely. The tiny Island of Guernsey, off the French coast, decided about 100 years ago to not borrow privately, but to issue its own debt to itself at no interest. The state of North Dakota did the same at the same time.
None of these states owe anyone except themselves. They pay no interest away, regularly balance their budgets, yet build whatever housing, infrastructure or social development they please.
With all respect to our earnest oppositions — the only hope for change in B.C. — could they finance a couple of open-minded staff to fly to North Dakota and spend a day or so asking hard questions? And publish the answers, please. Soon?
Russ Vinden
Errington