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.