February 25, 2016

Alberta Finance Minister sounds “nervous” delivering bad news on upcoming budget

Holly NicholasRebel Commentator
 

Alberta NDP Minister of Finance Joe Ceci made an announcement on the upcoming 2016-2017 budget and it’s not good.

According to the Minister, the province will add another $197 million to the current 2015-2016 budget, bringing the Alberta deficit up to $6.3 billion.

That’s not all of the bad news - the deficit for the next year will almost double from what was originally proposed to be $5.4 billion to $10.4 billion dollars. And it’s because the NDP banked on $61 per barrel oil prices instead of being more realistic and leaning more toward the $40 mark.

There are ways to decrease deficits during down turns when the price of oil is low, but the NDP just won’t have it. Ceci stated that they will be freezing salaries, but operational costs will increase. With oil prices continuing to fall and investments in the oil and gas sector expected to decrease 20% in 2016, we will see more of the same doom and gloom.

I thought Joe Ceci sounded really nervous today in his delivery. He didn’t even commit to saying the total deficit of $10.4 billion, only mentioning that the province would increase the deficit by $5 billion dollars. He even confirmed that the budget won’t be balanced by the end of 2019-2020, as promised.

But hey, I guess we’re not getting a provincial sales tax. Yet.

Comments
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commented 2016-02-25 21:53:08 -0500
Anybody in Alberta have their money and accounts at the Alberta Treasury Branch? This is the same financial institution that the NDP government is using for all of their borrowing for their upcoming wind and solar farm experiment. ATB is way over extended as their assets cannot cover their liabilities and they have been declared a risk. If the government goes down ATB will also fall.
Fannie Mae and Freddie Mac, which are both backed by the US federal government, needed a huge bailout to survive after Lehman Brothers went down and caused the crash in 2008. This is where a lot of the quantitative easing tax payer money was sent by Obama since he took office. Huge amounts of borrowed money to keep the country running.
Now might be a good time to hide some cash in the mattress. Recommend 50 or maybe 20 dollar notes as 100 dollar notes are becoming unpopular with many businesses and in the US they want to get rid of the 100 note. In fact the US banking system wants all transactions to be electronic and do away with cash so that people can be tracked and controlled when the shit hits the fan. They are 75% there and are incrementally moving forward to a cashless system.
Cyprus went through a rough period last summer where there was no money in their ATM’s because the bank ‘swept’ all of the money out of the accounts in an effort to recapitalize the failing central bank. People were shut out for days and then the bank opened the tap and let out a small daily amount to each individual. Things seemed to have settled down but today all of southern Europe is teetering on the edge of collapse with their borrowing, debt repayment schemes and paying out entitlements like pensions.
When the crash happens food is going to be very expensive. Time to stock up on some of that grody old MRE’s but they are better than starving.
commented 2016-02-25 21:44:58 -0500
Oh it must be the fault of those evil corporations and companies, how dare they not invest in order to lose money and be raped by the NDP. They are missing out on good times.
commented 2016-02-25 21:43:23 -0500
I remember seeing some NDP sheep put up a picture of a nuclear disaster and said why is Alberta not like this , it was about a week after the election, well we are on our way and i would love for the NDP sheep to tell me where the glorious utopia is now that we have a (LMAO) Government of the people!
commented 2016-02-25 20:48:10 -0500
Notley Dementia must be catching.

Now, Ceci is babbling about all kinds of inanities. Who needs an election? This wrecking crew will do themselves in and resign before the next election.
commented 2016-02-25 18:10:27 -0500
Hi Holly. Alberta is getting a PST. It is called the carbon tax.
commented 2016-02-25 17:51:07 -0500
Alberta, you deal in millions. We poor fools in Ontario are now dealing in billions. And with Junior’s budget at the end of the month, Canada will be dealing with multi billions more spending.
commented 2016-02-25 15:49:37 -0500
HOLLY
Keep taking joes pluse ,I think they are all coming with something ., your going to be a busy nurse , ! But don’t nurse them back to health ,let em die ,maybe pull the respirator plug.
commented 2016-02-25 15:06:15 -0500
Time to crowd fund a Hit Man, no better still, three Hit Men..
commented 2016-02-25 14:34:06 -0500
Let’s just say it, between the ndp and the trudeau liberals Alberta is done. Economically there is no metric that shows event the faintest glimmer of hope with these mental midgets in charge. The question is no longer how to fix the damage, the question now is how to mitigate the damage of the disaster that is coming and survive.
Make sure you have a well stocked pantry and armoury. If you can, move away from large cities. Stock up on non gmo garden seeds. Start thinking about and planning to provide for yourselves.
commented 2016-02-25 14:07:20 -0500
How long does anyone think it will take before the “Underground Economy” will become a subject of discussion by the MSM? …or become a target for those “boot-clad thugs”???
commented 2016-02-25 14:05:53 -0500
People, take a breath. I only live about 50 kms from the mint and already hear the printing presses winding up. Hair, heir, Herr Trudeau will look after us. We will be flooded with cash. Canadian Tire has a sale on wheelbarrows “Built for Canada”. Pick one up so you have a way to transport said cash to the store to buy a loaf of bread.
commented 2016-02-25 13:47:56 -0500
@ Acuuna – Canada is like the Walking dead. Already dead, but wondering around looking for brains(both literally and figuratively), and waiting for that knife to go through our skull.
commented 2016-02-25 13:44:52 -0500
@ Joe Nobdy
i agree totally.
when you crunch the numbers, the math is sound.
we’re fucked.
commented 2016-02-25 13:38:28 -0500
@peter Netterville – No, he is trying to navigate through the middle of Antarctica.
commented 2016-02-25 13:35:05 -0500
“and Justin is captain of the titanic and it is full speed ahead.”

and heading directly for an field of icebergs.
commented 2016-02-25 13:34:37 -0500
@acuuna
If That doesn’t result in a Revolution, I’ll take back what I said.
commented 2016-02-25 13:31:48 -0500
@ acuuna commented 32 mins ago
the Peter Schiff pitch for his latest book explains exactly where this is going to lead.
Peter (a top economist) says people need to buy guns and lots of ammo and expect the hydro to go out for years at a time. he says ammo prices are about to soar and the dollar will collapse.
I have never heard talk like that from nerdy bean-counter before.
and Ben Stein backs his analysis.
how fucked up are things when an economist tells you to stock up on ammo?
better listen…
____________________________________________________
Seems we are on the same page
commented 2016-02-25 13:31:00 -0500
No surprise here – simply put – pure mismanagement
commented 2016-02-25 13:28:25 -0500
Acuuna – I agree with Peter Schiff, stock up on ammo because all hell is going to break lose in Canada! That’s what happens when our governments, both provincial and federal set out to destroy our country for their evil ideology. This is the beginning of the end for Canada and the world.
commented 2016-02-25 13:27:33 -0500
@ Joe Nobdy
Peter wasn’t saying a revolution would fix the problem, rather that we are in the biggest artificial bubble ever and it will collapse sooner than later. if local governments can’t pay for police/fire/ambulances services, society will begin to erode from within very quickly. assets will be frozen as governments scramble to find cash any way they can. he went as far as to suggest that owning gold may be outlawed.
we have tax after tax imposed upon us yet the deficit grows exponentially. the money has to come from somewhere. it is just common knowledge that we pay more and get less, now more than ever.
that will bite us on the ass soon as the lenders stop lending. and Justin is captain of the titanic and it is full speed ahead.
I don’ know about the rest of you … but I get really nervous when an economist tells me to stock up on ammo.
and he literally means it.
commented 2016-02-25 13:08:07 -0500
Reply to Acuuna – Realistically the only way that things will get solved is with violence. I personally will not take an active part in any revolution, but when the New Democratic Socialist Party comes to take my kids because I will not give them a sex change, it will get ugly.
commented 2016-02-25 12:58:43 -0500
the Peter Schiff pitch for his latest book explains exactly where this is going to lead.
Peter (a top economist) says people need to buy guns and lots of ammo and expect the hydro to go out for years at a time. he says ammo prices are about to soar and the dollar will collapse.
I have never heard talk like that from nerdy bean-counter before.
and Ben Stein backs his analysis.
how fucked up are things when an economist tells you to stock up on ammo?
better listen…
commented 2016-02-25 12:51:28 -0500
Wonder when Notley gets assassinated.