December 21, 2015

Oil prices aren't the whole story: S&P downgrades Alberta's credit due to NDP's "rapidly rising" debt

Rebel Staff
 

For nearly 15 years, Alberta had a perfect "AAA" credit rating, even during a recession. Not any more.

Standard & Poor have cut it to "AA+". That's still strong but heading down, obviously.

Now every NDP apologist will say: It’s because of the low price of oil.

And S&P say that’s part of the problem.

But the new S&P report also cites the NDP's "projected weak budgetary performances in the next two years; and moderate, but rapidly rising, tax-supported debt burden."

The NDP also know they won’t be reelected in three and a half years.

They just don’t care. They plan to do maximum damage until then.

This credit rating downgrade is just the first of many.

 

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Comments
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commented 2015-12-24 01:40:38 -0500
And to one and all – A MERRY CHRISTMAS!…
commented 2015-12-22 15:23:33 -0500
It’s so nice to see that dippers and libs are working together with the dems in the states to make sure everybody has a job. It’s too bad that they all want them working for the state without understanding that someone has to pay for it. Math is hard.
commented 2015-12-22 12:26:34 -0500
Diversify? Like Spain did? Where did that get them? The only place being hurt the worst are Albertans and worldwide I mean. It’s expensive to produce oil here probably the most expensive in the world, so while the drop hurt the world it hurt us more. Russia, Venezuela, Saudi Arabia, produce oil for way less than us and yet our version of “Merkel”(Product of Soviet Union, she kind of looks like Merkel too), “Notely” decides now is the time to attack the core industries we have in place in order to “Diversify”, gov’t by definition can not diversify an economy, industry unless it controls all means of production, Communism. Diversity occurs only if there is less regulation and less cost. I still think the election was rigged “It’s not your vote that counts, it’s who counts the votes”. It seems as though NDP are trying to spend and push up debt as fast as humanly possible while destroying our core industries at the same speed, they have a deeper agenda. What is the big rush to spend? Has someone given them a set schedule to be in a certain amount of debt by a certain date? What they are doing is almost exactly the same as the European Union is doing and has done. Notely and TruDoooohhh are following the same global blueprint for integration and debt. The only countries that don’t follow that are Russia, China and India, these countries are the largest buyers and holders of gold, see where this is going. We have money but no gold to back it should SHTF. In a Brazilian paper I read a headline “We need more State and less Market”, this is the socialist mentality infiltrating governments and society. By the way they are trying to impeach their corrupt, dictator, female leader as well.
commented 2015-12-22 10:22:53 -0500
@ Drew who asked, “Why do lefties hate banks then do everything to make them richer? DEBT MAKES BANKS RICHER!!!! Do lefties not understand that?”

There is a lot of things that the lefties/socialists do not seem to grasp. That is one among many, too many to list.
commented 2015-12-22 09:30:05 -0500
S&P forgot to insert the real reason for the downgrade- GLOBAL WARMING! Nothing to worry about here folks, please go to the govt of Alberta website, look up the “action on climate change” document, and all your fears will subside. In comrade Notleys haste to represent the UN, the NDP is courting European energy companies and using their quotes on the website to prove to Albertans how “diversifying the economy” will be good for us all. EDF, the largest, and heavily financially burdened electrical generator keeps popping up at provincial trade, climate, and energy gatherings in the province. Expect to see some EDF golf balls at your next tournament. Who is EDF? 80 some % French state owned nuclear power giant. They’re looking for capital to subsidize their new era nuclear plants that cost billions of dollars. Billions of YOUR dollars, soon to be. They’re also into wind and solar, and they “look forward to working with Albertans”. I’ll bet they do. Out with The US and their investments in oil and gas, in with the UN and their investments in wind, solar, and nuclear. Keep digging that hole comrade Notley, getting deeper.
commented 2015-12-22 05:22:05 -0500
Still waiting for someone from the NDP to get whacked.

NDP’s plan to unionize farm workers – that takes the cake – Brian Topp is a lawyer from Toronto running the NDP – Notley isn’t smart enough to hatch all this crap – Topp would make a great first target.
commented 2015-12-22 00:29:14 -0500
Rebelation quite right, if i ever understood the left it would mean i have mental problems of my own.
commented 2015-12-21 23:49:44 -0500
Drew. When someone contradicts themselves on an ongoing basis, and nothing they do makes any sense, it’s because they’re psychotic. You’re trying to figure out someone with psychiatric problems. Once one accepts that, the only question remaining is; how do we take back our country?
commented 2015-12-21 22:30:11 -0500
When the NDP first got in the progressives were mocking the negative projections, asking why ALberta was still standing a week later, well Alberta is in trouble , and please where is this glorious new province you clowns were spouting off about?
The government of the people LMAO, only if you are the right people.
commented 2015-12-21 22:26:19 -0500
When oil was lower in the first half of the 2000’s i was busy and had my choice of jobs, unemployment in Calgary was 3.5% , in the winter of 2001-02 i was busy from nov to the end of march and could have worked more, but needed a break. But i guess the left is clueless when it comes to history.
commented 2015-12-21 22:24:19 -0500
Why do lefties hate banks then do everything to make them richer? DEBT MAKES BANKS RICHER!!!! Do lefties not understand that?
commented 2015-12-21 22:13:59 -0500
Hopefully that el nino out in the Pacific last a long time. At least it takes a bite out of the frigid NDP bull shit.
commented 2015-12-21 21:24:27 -0500
Does anyone know the words of the oath that Notley took when she was sworn into the Government that could tie her to her words legally for the Province as opposed to what she is doing damage to the Province ?
commented 2015-12-21 21:07:40 -0500
Planning stages for the resurgence of the Rocky Mountain Rangers, a militia force of volunteers to help farmers and ranchers ward off government inspectors from entering private land. This will show this government that we will not be bullied, also to show that we will not stand for another High River Gun Grab. It is important that we get all farmers and ranchers on board that the Rangers will be there to stand with them to show solidarity against these tyrants. We are going to get a Facebook page up shortly with places and dates to meet in order to sign up volunteers to take oaths of allegiance to Alberta and write standard operating procedures for the force. Please stand by as we are in the early planning stages. Hopefully this militia will take us to the next stage to overthrow this commie government and take back Alberta. It’s time for us all to get to work
commented 2015-12-21 20:07:44 -0500
Bruce, Darryl, the problem with that attitude is that we all pay for the NDP taking Alberta into economic hell, not just the people who voted for this crap government. We all have to pay the price for the socialists desire to live in a “free” society where everyone pays for everything but get everything for free. Talk about an oxymoronic state of mind.
commented 2015-12-21 19:58:17 -0500
This was apparently purposely Maliciously and spitefully done by the Provincial NDP Government, that seems like it shoud be classed as Financial Terrorism wouldn’t it? As a government official by your oath of office you are to do your best to protect and help the Provincial Economy as part of the Government that is the Oath they take – it seems to me they have in lieu of their dislike of the Oil industry, Farming and Ranching Industry have criminally broken their Oaths of office – should they not be terminated?
commented 2015-12-21 19:43:10 -0500
this is what people wanted and this is what they got. when this province turns into a post apocalyptic wasteland i wont be blaming the NDP i will be blaming the average Albertan for voting in the filth and trash we have instead of taking the trash out where it belongs.
commented 2015-12-21 19:43:00 -0500
why are they bent on doing so much damage? sickens me
commented 2015-12-21 19:30:06 -0500
Some heads need to roll here!
commented 2015-12-21 19:03:21 -0500
Bruce Kirk I feel the same way, they would not last a min, lol
commented 2015-12-21 18:55:02 -0500
Screw it. Let them rack up the credit card, close down all the coal power plants, force farms into government collectives and bloat the unionized bureaucracy beyond grotesque. When the lights go out and the grocery store is empty the riots in the city that will ensue will wipe out the ndp sheep. Conservatives will survive and be better off without the leftist leeches sucking the life out of society
commented 2015-12-21 18:52:15 -0500
I get some good cheaplaffs reading the responses of leftards to the credit rating services down grading klepto-socialist regimes -they just don’t get finance and risk management biz at all. A government’s credit rating is based primarily in the capacity to pay back the principle and revolving service charges – The oil patch wealth generating engines have gone south due to poor prices and high taxation/regulation -essentially the raters see the government’s plan to destroy it’s 2 major industries and grow government ( that’s right folks, gummint workers don’t produce a damn marketable thing except increased government budget liability – no value added, no tangible wealth) so a government that thinks it’s going to replace resource commodity wealth engines and agricultural output with wind farms and public sector jobs will run an eternal deficit subsudsing this black hole and be borrowing eternally and struggling just to pay service charges on the principle – in short they are a bad risk.

It’s truly unfortunate the financial world does not run on unicorn farts and rainbow dust but hey you voted for these morbidly brain damaged commies.
commented 2015-12-21 18:29:38 -0500
Don’t you find it ironic that the lefties generally dislike the oil industry and then stick up for the NDPers by saying don’t blame them,we have low oil prices.When you move towards a fossil fuel free system or economy if you will,please explain what revenue will be generated to replace no or very little oil revenue? You soon will see that we will all be slaves to government spending,spiralling inflation and continual tax increases. This insanity must be stopped!
commented 2015-12-21 18:25:34 -0500
Classic example.
A left wing journalist would say “we are fair and balanced”, but 100% cheer-lead for the left.. they’d deny that they are lefties and conduct their ‘journalism’ in a sneaky way. Ezra admits being on the right, is proud of it, but still uses facts to criticize the left…. and is not above criticizing the right, if need be.
A lefty would cite oil prices as being the sole reason for the credit down-grade, yet Ezra shows the report and states the contents… oil prices are a factor and so are the NDP’s policies.
In short, lefty ideology is based on exactly that, ideology, and nothing to do with facts.
I invite any left sympathizer to disagree with this comment (and in doing so, prove my point ).
commented 2015-12-21 18:05:03 -0500
Richard Neufeld; you are looking for some good news coming out of a disaster? How about this, while there is life there is hope. The hope being we don’t repeat the mistake again.
commented 2015-12-21 17:52:48 -0500
It has nothing to with oil prices. It has to do run away government spending. If oil prices were a $1000.00 dollars a barrel the NDP would blow through that and still be taxing, borrowing and spending. The PC’ for that matter, wouldn’t be any better.
commented 2015-12-21 17:46:07 -0500
Gee, Ezra, your a ray of sunshine. It is getting depressing being an Albertan and having nothing but negativity in the news. I am really hoping that you or Ms. Reid can find a single good news story in Alberta to carry us through the Christmas Season. We have increasing debt, increasing unemployment, a tone deaf government (being polite), increased demands on the food bank, increases in fore-closures, a city (Edmonton) that believes it should now compete with the private sector for home repair business on the tax payer’s dime when the home is owned by a Senior Citizen, and it goes on.

Federally it just gets worse.

Here is your Christmas challenge Ezra and Sheila, find a good news story that can give the fine hard working people in Alberta some hope. The recent beef nation of origin decision is a good start, but I am looking for something grand for all Albertans. We really need it!