Oh Joy! Alberta going another $37 Billion in debt, this time to foreigners.

[Termender]

Quietly, just before Christmas, Alberta goes further into debt. A huge $37 BILLION further into debt, and the government has authorized that it can obtain debt payable in a foreign currency.

Not only is the interest going to kill us, but they are also exposing us to currency fluctuations. Scary.

https://www.alberta.ca/release.cfm?xID=51209CEFCA30F-F3D0-BB29-DE5B294841B8CD88

[Trochu]

For the love, reduce spending!!

[Twisted Canuck]

Not a peep about it on the news that I have heard. What the hell do they need that money for now? More nurses, teachers, tax collectors...? Carbon tax enforcement? What?

[TimeOff]

For the love, reduce spending!!

Seems that "reducing spending" is not even in modern vernacular in these modern times. No financial accountability in government anymore…

[bessiedog]

Not a peep about it on the news that I have heard. What the hell do they need that money for now? More nurses, teachers, tax collectors...? Carbon tax enforcement? What?

Don’t blame me.... I haven’t had a raise in over 5 years.

We took zeros even when there were booms.


More fish cops and I frastrucutre for them new parks.....

[Weedy1]

I heard Ceci is planning on buying $37 Billion in Bitcoin. We'll all be retired next week.:sHa_shakeshout:

[Don_Parsons]

We are so lucky.

Pilling on the debt will keep us working, ok maybe not.

Pilling on the debt will improve the quality of life for those that don't have a life,,, then we the tax payers can be homeless. Of course this means we can apply for free housing if we live on the streets for 5 to 7 years before getting excepted.

Hummmmm, ok let's look at it this way.

We can buy a old rusty van and steal a licence plate to park it down by the river, at least we won't be homeless then. I'm sure the city won't mind if we cut down alot of trees to heat our vans in the winter.

Of course we have to except some hard-ships of the norm day to day life style change, but that will be easy as the only thought I our minds is gathering fire wood,,, oh,,, and being hungry all day.

Oh boy.

Ok, let's look at it this way.

The $37 billion dollar debt won't be big news in 5 years once we find out we owe $1.7 trillion on the loan. That way we the tax payers can sit back on our lawn chairs and say: "We told you so."
Of coures the van we we're living in got towed away because we didn't pay for city taxes on it.

See, I knew I could cheer us up in under 200 words.

You can find me living in a "***" down by the river.

Don

[purgatory.sv]

You also have a van!

:)

[fallen1817]

Going based off of the 2014 Alberta population of 4.146 Million people, I would have rather they divide it up evenly, and we each get our $8900 to stimulate the local economy!

I'm sure Nottley will come up with a "valid" reason for the egregious debt.

Who knows... Maybe it'll balance itself.

[elkhunter11]

If Trudeau doesn't make us broke, Notley will. I hope that the people that voted NDP are proud of themselves.

[6.5 shooter]

Pretty quiet from the we hate conservative crowd in here tonight.......Feeling a bit sheepish are we...:bad_boys_20:

[Au revoir, Gopher]

All they did was change an act, they haven't actually borrowed anything. Of course there has to be a reason for the changes but we aren't another $35 billion in debt (yet).

ARG

[Taco]

Yup more than a few having trouble with the legalese wording of a fairly standard credit agreement.

[nick0danger]

Yup more than a few having trouble with the legalese wording of a fairly standard credit agreement.

So why do we another 37 billion worth of what is the equivalent of a line of credit?

[Taco]

I have no idea.

[Twisted Canuck]

All they did was change an act, they haven't actually borrowed anything. Of course there has to be a reason for the changes but we aren't another $35 billion in debt (yet).

ARG

Yup more than a few having trouble with the legalese wording of a fairly standard credit agreement.

They may not have borrowed yet, but they didn't do that without some intent. Considering Alberta's credit rating has been getting crushed under NDP management, with another downgrade less than a month ago, even a move like this is enough to cause concern for the rating agencies. Every time the rating is downgraded, it ends up costing millions more in debt servicing costs. It isn't inconsequential that they have done this. And again, the question is why?

[hal53]

Yup more than a few having trouble with the legalese wording of a fairly standard credit agreement.
Yes, yes some do......

[Pioneer2]

Let's resurrect Ralph!

[Albertacoyotecaller]

At this point he couldn’t do any worse than Nutley

[Taco]

That's ok TC and Hal, I prefer to panic when I find something to panic about and it won't be everytime a dipper cabinet minister happens to scratch an itch

[rem338win]

That's ok TC and Hal, I prefer to panic when I find something to panic about and it won't be everytime a dipper cabinet minister happens to scratch an itch

Yes, authorizing 35 billion dollars in foreign debt is the equivalent of an itchy arse.

What a revealing window into the mind of a dipper.....

[hal53]

Yes, authorizing 35 billion dollars in foreign debt is the equivalent of an itchy arse.

What a revealing window into the mind of a dipper.....
:)

[Taco]

https://media.giphy.com/media/h7xAUR8LJog0g/giphy.gif

[elk396]

Not a peep about it on the news that I have heard. What the hell do they need that money for now? More nurses, teachers, tax collectors...? Carbon tax enforcement? What?

I wouldn't bash teachers and nurses too much, try walk a mile in their shoes and I think you might not feel that way.

[Twisted Canuck]

I wouldn't bash teachers and nurses too much, try walk a mile in their shoes and I think you might not feel that way.

Where did I bash them? I'm paying for my daughter's education so she can be a teacher.

Try walking a mile in the shoes a business person who has no pension, and is getting the rug yanked out from under him in the name of 'tax fairness'.

[2 Tollers]

Not a peep about it on the news that I have heard. What the hell do they need that money for now? More nurses, teachers, tax collectors...? Carbon tax enforcement? What?

It isn't inconsequential that they have done this. And again, the question is why?

There is a new budget year coming up and the province has moved to borrowing to cover operational expenses. Come March they will need to borrow additional money to cover the 2018 / 19 operational costs.

I would not target sectors like teachers or nurses. Just the reality that we have now been place in. There is not enough tax base to cover the operational costs that have risen significantly in the last couple of years. The bill is most likely preparation for the upcoming budget and to allow for a search for best source of borrowing including foreign. The down graded credit rating may have resulted in adding the need to look for other sources of money.

[Newview01]

I wouldn't bash teachers and nurses too much, try walk a mile in their shoes and I think you might not feel that way.

And what about a business owner? Maybe walk a mile in his/her shoes.

[Crankbait]

Never criticize a person until you've walked a mile in their shoes.
Then criticize them, because you have their shoes and are now a mile away.

[purgatory.sv]

:)

[srs123]

Democracy is a funny thing. A doctor goes to medical school, an engineer goes to engineering school, a teacher goes to teaching school. A person obtains proper education and skills to do a job before getting hired. Except politicians, a politician can be a janitor and gets voted as aprime minister and no one thinks that is odd.

Imagine yourself going to see a doctor, who was voted by the community as a doc.

I expect nothing but the worst from the incompetent govenment we currently have. I hope ppl learn their lesson and vote corrrectly next time

[elk396]

And what about a business owner? Maybe walk a mile in his/her shoes.

I wasn't bashing them, so don't feel the need to walk the mile in their shoes. My knowledge is with nurses and teachers , so felt I needed to stick up for them. Thankless jobs! I'm also don't doubt there's lots of business owners that are dealing with very tough times, feel for them too.

[CanuckShooter]

Where did I bash them? I'm paying for my daughter's education so she can be a teacher.

Try walking a mile in the shoes a business person who has no pension, and is getting the rug yanked out from under him in the name of 'tax fairness'.

Why would the business person not have a pension?? Didn't put any away for the future?? Whose choice was that? :thinking-006:

[Blastoff]

Why would the business person not have a pension?? Didn't put any away for the future?? Whose choice was that? :thinking-006:
As far as I know you missed the boat, I throw you a life jacket, don't miss if when I toss it your way

[browning21]

Consider this "Getting pre-approved" for a spending spree. With only +/- 475 days until the next election, this government will be announcing new spending weekly and hiring as many people as they can. All the while fearmongering more about what Kenny and the big bad evil right is going to do if they get into power. Nothing will surprise me. The damage that this government is doing (And to be fair what the previous 2 premiers did) to Alberta will not be undone in my lifetime.

[Twisted Canuck]

Why would the business person not have a pension?? Didn't put any away for the future?? Whose choice was that? :thinking-006:

That's a grand assumption on your part. I've put away and invested enough to retire now at fifty if I chose. Not all business people are able to do that, and the increased tax burden that is going to get rained down on their heads by this current government is going to make it even more difficult.

Trying to compare fixed and indexed public work sector pensions to what a business person goes through, in upturns and downturns, is laughable. Nice try though.

[bessiedog]

Ur just grumpy cause yer Flames lost....

We should give em a subsidy.

[rosshimself]

Never criticize a person until you've walked a mile in their shoes.
Then criticize them, because you have their shoes and are now a mile away.

You Sir, have won the internetz today!

[dodger]

Where did I bash them? I'm paying for my daughter's education so she can be a teacher.

Try walking a mile in the shoes a business person who has no pension, and is getting the rug yanked out from under him in the name of 'tax fairness'.

Yes, yes, and oh - yes.

Dodger

[Greasemonkey]

What a joke just a bunch of overpaid care givers term used very loosely LPNs do most of the work and are far more compassionate, my wife works in the health care industry and I’ve had my experiences as I’m sure all of us have however I have far more bad ones than good two months ago I’m sitting in fast track with my broken finger and watch 2 nurses and the doctor talk for 45 mins about his African wedding trip and I’m not exaggerating a solid 45 mins he shows them all the pics he took and explained who each person was etc I told the safety guy to leave as we were already there for 2 hours before this in waiting room there was one guy there puking and holding his head screaming and they just stood there talking about this trip I couldn’t believe it anyway nurses do not need anymore money training in compassion yes money no