November 29, 2017

Another credit downgrade — right after NDP claims “Alberta is back in the saddle”

Sheila Gunn ReidRebel Host | The Gunn Show


It's the second quarter fiscal update from Alberta Finance Minister Joe Ceci, and you know what that means: Sunny, albeit delusional, spin from the NDP about Alberta's finances, and another credit downgrade.

The two really go hand in hand. Nearly every time Joe Ceci steps to the mic each quarter to tell us what a good job he's doing, some bond rating agency issues a warning, an admonishment or worse.

This time is no different.

Less than 24 hours after Joe Ceci told a press conference that, "Alberta is back in the saddle" and economic recovery was imminent, bond rating agency DBRS dropped Alberta's rating from AA (high) stable to AA with a negative outlook, saying the downgrade reflects large operating deficits and rapid debt accumulation.

It's may be testament to how shallow the NDP benches are that Joe Ceci, man of many downgrades, is able to hang onto his job.

Comments
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commented 2017-12-01 00:18:55 -0500
It looks like Joe Ceci, or as I like to refer to him, Giuseppe Chickenpee, is producing the usual ‘financial’ results of any NDP government, through whatever misfortune or treachery has managed to plague any unfortunate province with the NDP’s governance and its usual ineptitude and socialist agenda…and eventual financial degradation.
It looks like Damn the torpedoes, full steam ahead for Notley’s NDP destroyers, et al…until May 31, 2019 – or sooner…

Giuseppe – Italian for Joseph.
Ceci – Italian for chickpeas
commented 2017-11-29 22:40:36 -0500
Joe Cici; “I do. I do. I do believe in fairies.”
commented 2017-11-29 22:35:50 -0500
And the sad part- the really sad part is that the NDP will live up to their 3 pillars of leftiedom:
1. they will not learn from their mistakes.
2. they will not learn from Hugo Chavez’s or anyone else mistakes.
3. they will refuse to exercise mistakes.

The really, really, REALLY sad part is neither will the Canadian voters.
commented 2017-11-29 22:17:32 -0500
YAY , now we will have to give a bunch of rich people even more money each year to service our debt. I thought the left hated rich bankers? Seems to me they love making them richer.
commented 2017-11-29 21:16:59 -0500
ron joseph commented – “BC’s credit rating is next;”

Lee Horsman commented -" 2019 can’t come soon enough."

This may provide all the time needed to tank BC/AB economies – The Laurentian elite (AKA Liberal party) have attempted to subjugate Alberta and BC to the eastern financial cartels for almost a century – our natural resources have kept us economically and politically independent of Ottawa – Papa Doc tried to kill that independence with the NEP – he almost succeeded. Baby Doc will do it by shutting down our resource industries under the bogus claims of fake climate science, until most of the Canadian and US players are out of the resource game then he will sell it off to Chinese investment and the subjugation of western economic power will be accomplished – with the help of the perfidious globalist provincial governments to aid in the destruction and fire sale.
commented 2017-11-29 21:16:20 -0500
What is Alberta’s new debt estimation? $42B.
What was it when King Ralph decided to slay the debt demon?
$23B.
How many years did it take Albertans to kill the beast?
10.
Let that sink in.
On top of the growing debt, how much is it costing to service Notley’s debt?
Must be getting close to $300 Million now.

Last financial update, Joe said no worries, it was manageable. Joe didn’t say it was manageable this time.

This time Joe says its time to cut spending. You yhink so Joe? By using attrition and no wage increases for public employees. (that comment otta get lots of support from the Unions that helped elect Nutley).

I say its time to send the NDP and their Venezualan experiment packing.

Anyone who thinks the NDP are good for Alberta is either incredibly misinformed, intentionally blind to facts or just plain stupid.

I guess Prentice was right. Math is hard.
commented 2017-11-29 21:02:20 -0500
Ron Joseph,

I was was thinking similar lines and laughed at how your comment meshed with what I was thinking.

My thought was which of the two governments, AB New Demoncrat or BC New Greenocrat, history will condemn as the worst. AB was at the bottom of the business cycle preparing the means to weather the downturn when the New Demoncrats destroyed those cautionary means creating a disaster. BC was well into recovery when the Greenocrats took over and the recovery is now stalled awaiting the expected death blow. I think That gives BC the edge on having the most evil government, but both are pure evil in their attitude towards the welfare of people.
commented 2017-11-29 20:18:48 -0500
BC’s credit rating is next; Horgan is just itching to get rid of Balanced Budgets of recent Clark years. I guess he sees how popular Trudeau is, despite spending Billions more than the Country takes in. Horgan has quickly learned from Trudeau how to chase Business Investment out of their various areas. There has to be a test for voters.
commented 2017-11-29 19:30:44 -0500
This Supreme Court appointment of Sheilah Martin sounds awfully scary. She sounds like a real social justice activist.
commented 2017-11-29 19:13:06 -0500
I also agree with Ms. G-R that it is really scary that the only other adult in the entire New Demoncrat caucus, next to Notley, is Ceci. And we have, constitutionally, another 2.5 years of these children.
commented 2017-11-29 19:13:06 -0500
It’s true, the Alberta NDP talent pool is so shallow, you could walk through there wearing flip flops and not even get your feet wet. I hear the justice minister is going on maternity leave and her replacement is not even a lawyer. What a joke. 2019 can’t come soon enough.
commented 2017-11-29 19:09:33 -0500
Seriously, would YOU buy a bond from this commie grirter? Seems the smart money won’t.
commented 2017-11-29 19:04:17 -0500
I thought Lorne Gunter’s Column about Ceci and the New Democrats was on the mark; that the public service unions will be getting the equivalent of Rae Days imposed on them in the near future. Only alternative because the unions will not abide a 5% wage decrease like they, to their credit, did in the 90’s, nor accept lay offs of superfluous managerial levels. Like Mr. Gunter suggests, it should prove interesting.
commented 2017-11-29 18:55:19 -0500
This happens ever time the NDP gets into power.
commented 2017-11-29 18:54:52 -0500
Great report Sheila.
Sounds like Ceci has fallen out of the saddle and landed on his head repeatedly! NDP government is operating under “managed decline” ideology.
commented 2017-11-29 18:19:28 -0500
You just can’t make this crap up . Anybody that believes the bullshit coming out of Joes mouth has some serious mental issues . Counting down the days until these socialist cucks get kicked to a Venezuela curb .
commented 2017-11-29 18:09:30 -0500
… The Left has abandoned all interest in what is true.