Author Topic: Make Alberta Great Again!  (Read 3121 times)

mranski

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Re: Make Alberta Great Again!
« Reply #20 on: May 13, 2019, 05:48:39 PM »
The main implication in the article is that Alberta should by now have a $1 trillion rainy day fund similar to an oil producing country. How realistic is that for a Canadian province.


Parsad

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Re: Make Alberta Great Again!
« Reply #21 on: May 13, 2019, 05:56:47 PM »
The main implication in the article is that Alberta should by now have a $1 trillion rainy day fund similar to an oil producing country. How realistic is that for a Canadian province.

No, it said a $40-50B fund comparable to Alaska would have been a reasonable expectation.  Cheers!
No man is a failure who has friends!

mranski

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Re: Make Alberta Great Again!
« Reply #22 on: May 13, 2019, 06:00:06 PM »
No. Norway was a cited first as the comparison.

SharperDingaan

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Re: Make Alberta Great Again!
« Reply #23 on: May 14, 2019, 05:34:35 AM »
The main implication in the article is that Alberta should by now have a $1 trillion rainy day fund similar to an oil producing country. How realistic is that for a Canadian province.

Quebec has the Quebec Pension Plan https://www.rrq.gouv.qc.ca/en/retraite/rrq/Pages/calcul_rente.aspx
and the Caisse de Depot https://www.cdpq.com/en. Apparently only Quebec can successfully make this type of investment?
Alberta's provincial governments have just been too incompetent?

SD
 

Cardboard

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Re: Make Alberta Great Again!
« Reply #24 on: May 14, 2019, 02:09:18 PM »
Alberta has been forced to send $ billions per year to Quebec to save the Constitution. $13 billion this year for dear old Quebec...

So all they have to do is to stop that madness and in 4 or 5 years they have that fund that Parsad blames them for.

Cheers!

Cardboard

Parsad

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Re: Make Alberta Great Again!
« Reply #25 on: May 14, 2019, 02:50:05 PM »
No. Norway was a cited first as the comparison.

Norway is the comparison that everyone makes, and that's why the article used Alaska.

Alberta has been forced to send $ billions per year to Quebec to save the Constitution. $13 billion this year for dear old Quebec...

So all they have to do is to stop that madness and in 4 or 5 years they have that fund that Parsad blames them for.

Cheers!

Cardboard

I'm not using Quebec as a comparison.  Quebec has more advantages than any other province and continues to suck at the Federal teet!  The whole country within a country stuff bugs me as much as it bugs you.  But there was nothing stopping Alberta from having $40-50B sitting in a provincial austerity fund...they were on track for that until they started doling out the cash, cutting tax rates and then borrowing in downcycles. 

God knows we aren't perfect out here on the West Coast, but if you want to call a spade a spade, don't gloss over Alberta's own stupidity!  Cheers!
« Last Edit: May 14, 2019, 02:51:54 PM by Parsad »
No man is a failure who has friends!

SharperDingaan

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Re: Make Alberta Great Again!
« Reply #26 on: May 15, 2019, 06:25:19 AM »
Alberta has been forced to send $ billions per year to Quebec to save the Constitution. $13 billion this year for dear old Quebec...

So all they have to do is to stop that madness and in 4 or 5 years they have that fund that Parsad blames them for.

Cheers!

Cardboard

You might want to educate yourself
https://econ.ucalgary.ca/manageprofile/sites/econ.ucalgary.ca.manageprofile/files/unitis/publications/1-9016260/Tombe_2018_CTJ_-_Transfers_in_Canada.pdf

Interesting table, on page 5
From day 1 through to 1949 (44 years), Alberta was the LARGEST have-not RECIPIENT province (by far) in the land.
And on day 1, Alberta received MORE THAN 3x/capita what Newfoundland received when it entered confederation.

Oil, and the goodwill of the rest of Canada, lifted BOTH Alberta AND Newfoundland out of RECIPIENT status.
But apparently only Newfoundland has been able to use oil to diversify its economy? - the same folks that used to be the butt of all the jokes? Dude, where are Alberta's bumper stickers ? “Please God, give me one more oil boom. I promise not to piss it all away next time.” https://business.financialpost.com/commodities/energy/after-50-years-of-trying-to-diversify-its-economy-alberta-is-still-stuck-on-oil
Don't want to talk about it  ;)

Yes Alberta is hurting, and folks are sympathetic, but Alberta currently isn't doing itself any favours.
Hey Jason, where's my pipeline job this year? and where's the compensation for my flood damage?

SD



« Last Edit: May 15, 2019, 06:35:27 AM by SharperDingaan »

HalfMeasure

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Re: Make Alberta Great Again!
« Reply #27 on: May 18, 2019, 10:14:52 PM »
Alberta has been forced to send $ billions per year to Quebec to save the Constitution. $13 billion this year for dear old Quebec...

So all they have to do is to stop that madness and in 4 or 5 years they have that fund that Parsad blames them for.

Cheers!

Cardboard

Cardboard - I agree with your point on equalization payments but Parsad is also correct that Alberta should have saved more when times were good, both can be (and are) true. The government should be countercyclical such that they run a surplus and save during the boom in order to afford themselves the luxury to run a deficit when things go bust, especially in a province with such a cyclical economy - this is true independent of one's view on equalization payments.

Cardboard

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Re: Make Alberta Great Again!
« Reply #28 on: May 21, 2019, 06:54:38 AM »
You guys are funny! Have you looked at other provinces balance sheets and income statements that do not have as much cyclicality. Ontario anyone?

The problem right now is not credit rating, nor solvability. That is not what is causing the employment problem or outcry.

You guys are trying to lecture a province to exhibit financial discipline at a time when other provinces are strangling it by preventing its oil from being shipped both east and west which reduces price received and quantity while they still abuse of Alberta's largest by pulling $13 billion/year from it for Quebec alone. This is a farce!

Cardboard

HalfMeasure

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Re: Make Alberta Great Again!
« Reply #29 on: May 23, 2019, 03:52:42 PM »
You guys are funny! Have you looked at other provinces balance sheets and income statements that do not have as much cyclicality. Ontario anyone?

The problem right now is not credit rating, nor solvability. That is not what is causing the employment problem or outcry.

You guys are trying to lecture a province to exhibit financial discipline at a time when other provinces are strangling it by preventing its oil from being shipped both east and west which reduces price received and quantity while they still abuse of Alberta's largest by pulling $13 billion/year from it for Quebec alone. This is a farce!

Cardboard

You've actually completely mischaracterized and missed my point - I'm impressed by how much your defensiveness on behalf of Alberta has eroded your reading comprehension, it's almost admirable. Further, I said nothing about other provinces nor is it relevant to my point. If your neighbor does something stupid, it might make you feel better, but it doesn't make you smarter.
« Last Edit: May 23, 2019, 03:54:36 PM by HalfMeasure »