• Thanks for stopping by. Logging in to a registered account will remove all generic ads. Please reach out with any questions or concerns.

Making Canada Relevant Again- The Economic Super-Thread

Status
Not open for further replies.
I doubt more immigration will help.  There is no shortage of available workers.  Part of Atlantic Canada's problem with the status quo Simpson laments is that the status quo already motivates too many people to sit where they are.

"Think how to position the region to take advantage of these opportunities."

Oh, that's helpful advice.  I have more advice along those lines: "Think how to do useful things better.".

>An oil pipeline from Alberta to Saint John is a national imperative.

Good grief.  Why take the shortest distance to maritime shipping when you can spread the risk of spills that the environmentalists worry about across nearly the entire width of the country, and maximize the amount of pipeline vulnerable to malcontents.
 
Brad Sallows said:
I doubt more immigration will help.  There is no shortage of available workers.  Part of Atlantic Canada's problem with the status quo Simpson laments is that the status quo already motivates too many people to sit where they are.

"Think how to position the region to take advantage of these opportunities."

Oh, that's helpful advice.  I have more advice along those lines: "Think how to do useful things better.".

>An oil pipeline from Alberta to Saint John is a national imperative.

Good grief.  Why take the shortest distance to maritime shipping when you can spread the risk of spills that the environmentalists worry about across nearly the entire width of the country, and maximize the amount of pipeline vulnerable to malcontents.


I think what Mr Simpson is aiming at is the right kind of immigrant: bright, young, well educated, entrepreneurial Asians, especially, to reinvigorate the business culture and populate the university research labs.
 
And why would they want to live in Atlantic Canada and pay those levels of provincial taxes, rather than in the GVRD or Toronto or Waterloo region and pay BC or ON levels of provincial taxes?  If subsidies and other enticements are necessary, then we are back to pork-barreling.
 
Well, the ON levels of taxation may not stay as low as they currently are if Ms. Wynne continues to accumulate large deficits over large deficits.  Just saying ...  :whistle:
 
E.R. Campbell said:
In this column, which is reproduced under the Fair Dealing provisions of the Copyright Act from the Globe and Mail, Jeffrey Simpson explains five essentially economic "remedies" for Atlantic Canada's perpetual "troubles" which a new, beholden, Liberal government might decide to try:

http://www.theglobeandmail.com/news/politics/globe-politics-insider/jeffrey-simpson-with-liberal-sweep-political-stars-align-for-atlantic-canada/article26917071/

I don't agree with Mr Simpson all that often, but I think he's right on this one; I hope someone is whispering in Prime Minister designate Trudeau's ear.

Gerald Butts is whispering how to keep voters happy and stupid to win the next election in the Young Dauphin's ear.....
 
Recession's comin', maw.

"What they found was that an increase in the household debt-to-GDP ratio is a solid predictor of slowing economic growth to come. Soaring debt loads are typically accompanied by booms in consumption that put downward pressure on a country’s trade balance (it imports more than it exports).

When the household debt boom ends, investment and consumption go into decline. A country’s exports are then likely to rise again to cushion the impact, however that only works when the rest of the global economy is healthy. (Interestingly, the researchers were able to go back using their data from before 2000 and accurately predict the scale and intensity of the Great Recession to come.)"

 
Let's see if this is more than just hype over the prospect over new green jobs with the ascendance of the Trudeau government:

Vancity Buzz

Strong B.C. climate plan could create 900,000 jobs: report
By Lauren Sundstrom
10:09 AM PDT, Wed October 28, 2015

Strong B.C. climate plan could create 900,000 jobs: report
By Lauren Sundstrom
10:09 AM PDT, Wed October 28, 2015
shutterstock_259123364
Image: Renewable Energy/Shutterstock

A new report suggests if the province stays on track to meet 2050 climate goals, hundreds of thousands of jobs could be created as a result.

Julia Kilpatrick with Clean Energy Canada says on top of cutting carbon pollution, 270,000 jobs would be created by 2025, and could “easily triple that by 2050 with stronger energy and climate policies in effect,” bringing the number to 900,000.

Sectors such as renewable power generation, manufacturing and biofuels will surge with jobs as a result of the province following a strict climate plan.

The “knowledge and services” sector will see the most growth, with a projected 210,000 new job openings. B.C.’s GDP is expected to climb as carbon pollution falls.

(...EDITED- GRAPHS AT LINK ABOVE)
 
Looking at the record of Green job creation globally, the genneral trend is the companies roll up the mat once the subsidies dissapear, since "green" energy is not competative with thermal or hydro except in very limited niche roles. (The fact that you need gas turbine generators running 24/7 on hot idle to instantly pick up the slack when "green" energy falters should be testament enough to where this technology really stands).

Looking at Spain and Germany is also illustrative.
 
Mike Rowe (of "Dirty Jobs" fame) delivers an awesome smackdown to an overprivilaged twit who believes that "hard work" is equated to racism or slavery. We need more people with his attitude in charge, and teaching values to our next generation:

https://m.facebook.com/TheRealMikeRowe/photos/a.151342491542569.29994.116999698310182/1075683639108445/?type=3

Mike Rowe

What's on YOUR Wall?

'Hello Mr. Rowe! What's your take on MSNBC host Melissa Harris-Perry being offended by the phrase "hard worker"? How can such a label possibly be offensive to anyone?”

Lenny Kostecki

My take Lenny, for what it's worth, is that there is no longer a limit to what people can be offended by.

Melissa Harris-Perry appears to be put off by the suggestion that “hard work” is too often linked with success. She doesn’t like the fact that many hard-working individuals have not enjoyed the same measure of success as Speaker Ryan, who was being acknowledged on her show for his excellent work ethic. Here is her response, in her own words...

HARRIS-PERRY:HARRIS-PERRY: “I want us to be super careful when we use the language “hard worker.” I actually keep an image of folks working in cotton fields on my office wall, because it is a reminder about what hard work really looks like. But in the context of relative privilege, when you talk about work-life balance, the moms who don’t have health care aren’t called hard workers. We call them failures. We call them people who are sucking off the system.”

To me, it sounds as though Melissa is displaying images of slavery or drudgery in her office to remind herself of what hard work really and truly looks like. That’s a bit like hanging images of rape and bondage to better illustrate the true nature of human sexuality. Whatever her logic might be, it’s difficult to respond without first pointing out a few things that most people will find screamingly obvious. So let’s do that.

First of all, slavery is not “hard work;” it’s forced labor. There’s a big difference. Likewise, slaves are not workers; they are by definition, property. They have no freedom, no hope, and no rights. Yes, they work hard, obviously. But there can be no “work ethic” among slaves, because the slave has no choice in the matter.

Workers on the other hand, have free will. They are free to work as hard as they wish. Or not. The choice is theirs. And their decision to work hard, or not, is not a function of compliance or coercion; it’s a reflection of character and ambition.

This business of conflating hard work with forced labor not only minimizes the importance of a decent work ethic, it diminishes the unspeakable horror of slavery. Unfortunately, people do this all the time. We routinely describe bosses as “slave-drivers,” and paychecks as “slave’s wages.” Melissa though, has come at it from the other side. She’s suggesting that because certain “hard workers” are not as prosperous as other “hard workers,” - like the people on her office wall - we should all be “super-careful” about overly-praising hard work.

I suspect this is because Melissa believes - as do many others - that success today is mostly a function of what she calls, “relative privilege.” This is fancy talk for the simple fact that life is unfair, and some people are born with more advantages than others. It's also a fine way to prepare the unsuspecting viewer for the extraordinary suggestion that slavery is proof-positive that hard work doesn’t pay off.

Obviously, I don’t see the world the same way as Melissa, but we do have something in common. Like her, I keep a picture on my office wall.

That’s me, squatting next to the most disappointing toilet I’ve ever encountered, preparing to clean it out with a garden trowel. I keep it there to remind me of what happens when you need a plumber but can’t find one.

It's also a nice reminder that a good plumber these days has a hell of a lot more job security than the average news anchor. (With respect.)

Mike
 
Apparently the POTUS will announce very shortly that he will veto Keystone XL pipeline.

Update:

President Obama will announce this morning that he is rejecting the Keystone XL pipeline, the Associated Press reports. Watch live at 11:45 a.m. ET on Fox News and FoxNews.com.

http://www.foxnews.com/politics/2015/11/06/obama-rejects-keystone-xl-pipeline-bid/ http://video.foxnews.com/v/2553565094001/#sp=watch-live
 
The problem in the United States is estimated to be between $2 and 4 trillion dollars (the numbers arn't clear because the various States and municipalities have been using clever accounting to disguise the problems), but we should not be smug; Canada's unfunded liabilities (Mostly federal employee pensions) are over $500 billion (the same magnitude as the national debt), and I am unable to come up with any clear figures of how the Provinces and municipalities are doing WRT unfunded liabilities.

The battle over unfunded liabilities will be quite bitter and intense, especially when taxpayers are being toild they are giving up services like police and municipal repairs to pay off unfunded pension liabilties:

http://www.the-american-interest.com/2015/11/18/the-pension-problem-is-worse-than-you-think/

The Pension Problem Is Worse Than You Think

It’s not just stagnating cities in states like California or Illinois that are running into pension troubles. The pension vise is now tightening around Houston too, an oil-rich metropolis that has been enjoying rapid job growth for years. The Wall Street Journal reports:

Houston is weathering a prolonged plunge in oil prices, but the city may have an even bigger problem: its pensions.
Though economic growth has only slowed, not stalled, in Texas’ largest city, its finances are showing what several investors and analysts describe as warning signs.

Those include a rapidly growing gap in funding its retirement plans for public workers and a limit on its revenue-raising capabilities imposed by a voter-approved cap on property taxes.
The $3.2 billion pension-funding gap is threatening Houston’s Aa2 credit rating from Moody’s Investors Service, hurting demand for its debt and emerging as an issue in the city’s mayoral race.

Houston’s experience is a cautionary tale. The city counted on oil money and didn’t manage its finances well when times were good, and, like many cities, built its pension promises on overly optimistic projections for future growth. Pensions are in trouble in states and municipalities all over the country because while politicians have strong incentives to over-promise in the short-term, they have little incentive to plan for future slowdowns. And if Houston can’t create sustainable pension systems, despite its impressive economic fundamentals, what hope is there for Chicago?

The WSJ story also highlights the many divisions and conflicts that will flare up in the coming years as a pension reckoning approaches. Houston residents are “reluctant to support any tax increases” even as the pension woes “have contributed to reductions in hiring of police officers and spending on pothole repairs, which have become issues in the mayoral race.” This type of tradeoff is part of what we call the blue civil war. Various interests (in particular, the people who produce public services and the people who consume them) will be pitted against each other as the unsustainability of the blue model of governance, present in both Republican and Democratic states, becomes more and more clear.
 
BC opposes the Kinder Morgan pipeline:

Vancity Buzz

Province opposes Kinder Morgan pipeline after failure to meet requirements
By
Lauren Sundstrom
9:47 AM PST, Mon January 11, 2016

The B.C. government says they don’t support the Kinder Morgan Trans Mountain Expansion project since they failed to meet the criteria set out by the province.

The government set out stipulations that must be met by the energy giant before they can build a pipeline through Burnaby. The province felt Kinder Morgan failed to meet the five requirements they set out, leading them to their current decision.

The five stipulations include:

    Successfully completing the environmental review process and getting a recommendation by the National Energy Board
    Marine oil spill prevention, response, and recovery systems for B.C.’s coastline to mitigate the risks of heavy oil pipelines and shipments
    Addressing Aboriginal and treaty rights and allow First Nations to participate and benefit from heavy-oil projects
    The province receives a fair share of the revenue from the pipeline

(...END EXCERPT)

Plus more bad news for the Loonie and oil: the CBC even mentioned today that some experts even see $10 a barrel soon the way things are going.  :o

Vancity Buzz

Canadian dollar slips below 70 cents U.S., first time in 13 years
By
Lauren Sundstrom
9:05 AM PST, Tue January 12, 2016

The Canadian dollar fell below 70 cents U.S. on Tuesday for the first time since April 2003.

The Canadian dollar fell to 0.6996 cents U.S. in the morning of January 12, a thirteen year low. Oil and gas continues to drop as well, with a barrel of crude oil trading at $31.41, a more than five per cent dip.

The loonie has been consistently falling in the past month. In December, the loonie dropped below 72 cents for the first time in 11 years, and just last week, it dipped below 71 cents for the first time since August of 2003.

(...SNIPPED)
 
S.M.A. said:
Canadian dollar slips below 70 cents U.S., first time in 13 years
By
Lauren Sundstrom
9:05 AM PST, Tue January 12, 2016

The Canadian dollar fell below 70 cents U.S. on Tuesday for the first time since April 2003.

The Canadian dollar fell to 0.6996 cents U.S. in the morning of January 12, a thirteen year low. Oil and gas continues to drop as well, with a barrel of crude oil trading at $31.41, a more than five per cent dip.

The loonie has been consistently falling in the past month. In December, the loonie dropped below 72 cents for the first time in 11 years, and just last week, it dipped below 71 cents for the first time since August of 2003.

(...SNIPPED)

Yup, and the same shitbirds were in charge then also.




 
Northern Peso - good for Quebec and Ontario manufacturers = cheap labour.

 
The lower dollar hasn't been as effective as it was last time around.  The tools available to deal with economic malaise remain few.  I am starting to think the Liberals might genuinely be trolling for ideas with their "consultation" tour instead of just manufacturing political cover.
 
Perhaps because last time around it was about maintaining existing jobs in existing plants.

This time around it is about creating jobs in new plants manufacturing new products..... and a Windmill in every driveway isn't going to cut it.
 
At least one large, Canadian, bank based investment firm is explicitly (in a letter to clients) "shorting" Canada based, in some measure, on the likelihood that the new, Liberal government will press ahead too many unnecessary, unproductive stimulus projects and too few of the kind that might, actually, help.  :-\
 
E.R. Campbell said:
At least one large, Canadian, bank based investment firm is explicitly (in a letter to clients) "shorting" Canada based, in some measure, on the likelihood that the new, Liberal government will press ahead too many unnecessary, unproductive stimulus projects and too few of the kind that might, actually, help.  :-\

So, you are saying that elections have consequences?  >:D
 
More on the Kinder Morgan pipeline issue:

Vancity Buzz

Burnaby mayor asks Trudeau to stop Trans Mountain Pipeline review
By
Lauren Sundstrom
2:34 PM PST, Tue January 12, 2016

Burnaby Mayor Derek Corrigan wrote a letter asking Prime Minister Justin Trudeau to put a stop to the Trans Mountain Pipeline review, calling the National Energy Board’s review process “deeply flawed.”

Prime Minister Trudeau had previously promised an overhaul of the NEB’s review process, but it won’t come soon enough for Corrigan, since the Trans Mountain pipeline review is set for January 18. There has been no announcement yet on how the process will change.

“I am now writing to request that the amendments be expedited to avoid perpetuation of the current, deeply flawed NED process that the public and your government have already acknowledged is inadequate,” reads Corrigan’s letter.

He said stakeholders, First Nations people, and potential environmental impacts should be duly represented in the review process.


(...SNIPPED)
 
Status
Not open for further replies.
Back
Top