April 26, 2016

Notley's Finance Minister woos New York investors after latest Moody’s downgrade — like “deadbeat relative”

Rebel Staff
 

Do you know a useless bum that likes to borrow money off people for big schemes that never pan out and then he needs to borrow more money?

Be honest. Everyone is either related to that guy, has a friend like that guy or is that guy. That guy is annoying. He’s a bit of a loser. You may even be ashamed to admit you know him. He promises he’s going to strike it rich selling Tupperware or his latest invention that nobody has ever thought of. He doesn't live in reality.

Well Albertans, with Joe Ceci running the finances, that guy is Alberta.

Alberta was just handed it’s fourth serious credit downgrade in six months. This time it was Moody’s, again. Alberta’s financial situation is circling the toilet bowl while our chronically inept Finance Minister, Joe Ceci has been watching the bank account. In the face of these credit downgrades, Joe Ceci has gone to New York to plead his case to investors and credit rating agencies. Just like your deadbeat relative would do, right?

Joe Ceci went all the way to New York to tell the credit ratings agencies it would be different this time. He means it. He’s good for the money. He’s got the golden touch. He’s got a real big scheme to make it happen. He’s going to diversify the economy, you know, away from the things that actually make money, like oil, agriculture and mining.

If I were an investor willing to risk a penny in Alberta, I’d be looking at Golden Joe Ceci with real concerns that he may be spending my money on magic beans before the day is out.

The credit ratings agencies and investors aren’t falling for Joe Ceci’s big schemes and green dreams. Neither should Albertans.

Comments
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commented 2016-04-27 15:08:27 -0400
Apple stocks today were sold off today because they fell short of analysts targets. $50B in sales with a profit of $10B, Alberta Shows revenues of $41.4B with an estimated $10B deficit(loss) and wonders why the credit rating has been downgraded again and again. If any private company tried to show that balance sheet to a lender they would be laughed out of the office.
commented 2016-04-27 14:47:55 -0400
JOE CECI has to have been a social worker to be this far out of touch .
commented 2016-04-27 11:44:41 -0400
I want out of this province before it is totally trashed.
commented 2016-04-27 08:24:00 -0400
The Architect commented 3 mins ago
Notley is flying to Washington, DC on Wednesday to brag up Alberta’s climate change plan.
You’ve gotta love the tax and spend mentality while getting holidays on the taxpayers dime.
The NDP is a joke.

The only thing Obama is doing these days is cleaning toilets in the White House – lame duck. Notley can go waddle through the Smithsonian – that’s about all she will be invited to do in DC.
commented 2016-04-27 08:19:04 -0400
Notley is flying to Washington, DC on Wednesday to brag up Alberta’s climate change plan.
You’ve gotta love the tax and spend mentality while getting holidays on the taxpayers dime.
The NDP is a joke.
commented 2016-04-27 06:00:55 -0400
LMFAO!!!

Hey Joe Ceci, you’re a financial rapist and now you’re going to financially default the province of Alberta.

Joe Ceci will go down in history as Alberta’s biggest loser scumbag.

You’ll be “metaphored” as this Joe Ceci, “I woke up, walked down the hallway and sat on the toilet and too a joe-ceci”.

You’re a piece of shit Joe Ceci.
commented 2016-04-27 00:59:55 -0400
OH PLEASE i know where to buy magic beans, lend me the cash.
commented 2016-04-27 00:11:51 -0400
Wasn’t this joker a social worker before he got the most important job in cabinet?
Sheila, love your comparison, so true.
commented 2016-04-26 21:43:23 -0400
I bet you he had some drawings of windmills and solar panels in his brief case, probably got them from butts in kiss my kanna at the anti pipeline party
commented 2016-04-26 21:15:35 -0400
Interesting article……

Some months ago I offered the Alberta minister – Deron Bilous something – a guaranteed investment in his province – while sitting at a board room table in the offices of a multi billion dollar company.

No cost to the province.

I needed one item from Alberta and I offered to do that at MY cost.

He gave me all his contact details so I could send him the final proposal.

I sent it within three days of that meeting in the late winter of this year.

Crickets.

We are looking to invest elsewhere now.
commented 2016-04-26 21:12:56 -0400
U.S. investors in New York must now be wondering just how many deadbeats we have up here. After promising the Canadian electorate massive (yet severely understated) deficit spending to “kick-start the economy” our so-called prime minister himself recently danced the old soft shoe shuffle and promised Wall Street that there would be “no influx of cash to “jolt the economy” because I “need to be responsible and keep the budget gap”. After maintaining an economy and fiscal record that up until recently was the envy of the world, we have so quickly become its laughing stock.
commented 2016-04-26 20:50:15 -0400
I remember listening to a “financial expert” on the radio after the first Moody’s downgrade about how it was no big deal and wouldn’t affect borrowing costs.

This is two downgrades by Moody’s now. Wonder how many more before it does affect borrowing costs?
commented 2016-04-26 19:57:19 -0400
I hang my head in shame at the mere idea that this imbecile is in New York representing our province. I feel sick to my stomach.
commented 2016-04-26 19:43:14 -0400
The credit downgrades happened long after the election… they started at the time the NDP released their budget… yes, oil pricing is a factor, but this is primarily on the NDP.