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Monday, September 28, 2009

And So it Begins....

The decline of Alberta's fortunes is irrevocably tied to natural gas. And the future of natural gas is not pretty.

Sun setting on Alberta’s natural gas empire, TD warns

Look out, Chicken Little. The sky really is falling.

Sunday, September 27, 2009

Can Someone Explain This to Me?

I may not be the sharpest tack in the box financially, but I am having a problem trying to reconcile these two figures.

It seems that Alberta's per capita gaming revenue is $871, the highest in the country. But when you look at the 2008 Annual Report of the Alberta Gaming and Liquor Commission, it states that the total gaming revenue in 2008 was $26 billion. So when you divide that number into the 3.3 million provincial inhabitants (not all of whom are old enough to gamble) that equates to $7,878 per person. Huh? What gives? This seems extremely odd.

Oh, and this fiscal year, 2009-2010, gaming revenue (net) will outpace oil and gas revenue (net) by some $500 million.

Sigh. We live in interesting times, in an interesting place. FUBAR.

Monday, September 21, 2009

Cryyyiiiing Over Debt....(Apologies to Roy Orbison)

Mister Ed has gone and done it. A little over five years after King Ralph declared the Alberta debt to be history, Steady Eddy Stelmach has plunged the province back into debt.

Here's a portion of what Ralph said back in July of 2004:

"Never again will this government or the people of this province have to set aside another tax dollar on debt," Klein said. "Those days are over and they're over for good, as far as my government is concerned, and if need be we will put in place legislation to make sure that we never have a debt again," he added.

Lots of "never agains." Seems we're there again, and in a big way. Ed plans to issue $3.3 billion worth of provincial bonds to help fund infrastructure. That would be because Ralph let the infrastructure rot in his ego-driven frenzy to pay down the debt.

I sometimes wonder why I live in this province. SNAFU.

Monday, September 14, 2009

Another Truth Found

In the midst of lies from the MSM and just about every government in the world saying that the recession is over, I offer up a little piece from the UK's Mail.

As a sidenote, I was viewing some new duplexes in Cochrane this past weekend - a little over 1400 sq ft developed (but seemed much less - they must have counting the garage...) for the low, low price of $500,000+. When I actually had the nerve to talk to the gentleman about ARM resets in the US (which, granted, he did bring up) and the fact that we in Alberta are not "special" and have not decoupled from the US economy, he immediately thought I worked in the financial services industry. No, I am just a citizen who takes an interest - in articles such as this: