The stock markets don’t like uncertainty, and with federal elections in Canada and the U.S. that was driven home recently, with wild swings in stock markets in Canada, the U.S. and around the world. The housing collapse in the U.S. was also a major factor. Now, with the Canadian election over and the U.S. election nearing completion, the stock markets should settle down, especially with moves by governments around the world to pump money into the banking system, which allowed for some very risky home loans.

In the last couple of days, stock prices have been rising again on the recent government initiatives to calm the markets with large injections of cash and the doomsayers will, hopefully, fade away quickly. Locally, the automotive sector has been hit hard by recent economic
events, as has the whole manufacturing base in Ontario. Closings and cutbacks seem to be the catchphrase of the day. It is certain that the economy is changing, especially for Ontario.
Looking forward, the coming credit crunch is something that governments are trying to deal with, as businesses like General Motors and others go to the market to raise cash for operations and expansion. Hopefully, that cash is there when they need it.

Without that availability of cash, some companies may not be able to carry on operations, and close their doors. Jobs will dry-up and spending will take a nosedive. If that happens, more companies will close up. And so on. A vicious cycle ensues. Governments appear to be
responding in Canada and the U.S. Money is flowing into the banking system, so that credit is available. Hopefully, we’ve turned the corner on the economic problems created by reckless lending by U.S. banks. With a changing economy, it is important for local politicians to
push for more jobs for our community, jobs that are outside of the automotive sector. A strong job market means a strong local economy, and an expanding community.

The doors of city hall should be open for new business to quickly set up and begin operations. These politicians should cut the red tape and make it a swift and easy means for new business to set up shop in our community. The times are changing, indeed.