Quote:
Originally Posted by Andrewjm3D
The big six banks making money off their investments have very little to contribute to the local economy unless you can prove most Torontonians work for banks though I doubt you'll be able to do that.
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Well according to the Brookings institute it's far and away the largest sector contributing to over 40% of Toronto's overall economic output. (
http://www.brookings.edu/info/global...onitormap.aspx)
Regardless of that, saying Toronto has a diverse economy does not disprove what I said, not is it in-congruent with the fact that Toronto's current boom is fueled by the oil sands.
The oil sands are a growth engine. They are at the top of the pyramid, feeding down to many other industries. the extra employment needed to finance the oil sands is fueling countless other industries below it and beside it.
I'm not saying without the oil sands Toronto would collapse, far from it, but it is providing that extra cream on top that is really fueling the extraordinary growth we are seeing right now.