[Newsbot]

Title: Alberta To Have 2nd-Largest Economy In Canada In 3 Years: Bloomberg
Category: Business
Posted By: Goober911
Date: 2014-07-26 10:19:29
Canadian

[jj2424]

Where are we going to put all the refugees from BC and Ontariowe?

"shut it down cry the lefties, We don't need no stinkin Alberta jobs"

[peck420]

As a Canadian first, Albertan second, I find this extremely saddening.

Our country will sink or swim, based on what the majority of the population is experiencing. It's awesome that my province is doing so well, but it does not have nearly enough of a population to support Canada. Not even enough to support half of Canada.

We desperately need Ontario, Quebec, and to a large extent BC, running as well. They don't need to hit the same level of growth as Alberta, just get running to the point of internal parity.

If that day ever comes, Canada is going to become significantly stronger global entity than our population would imply.

[Thanos]

It's not Alberta's fault that the politicians running the other provinces keep shitting in their own hat with their excessive economy-destroying over-taxation and ass-kissing of the public sector unions. Not our responsibility to fix their damn problems for them either.

[Jabberwalker]

You need to do more "value added" jobs in Alberta, like processing your own petroleum, rather than shipping it to the States where they get those manufacturing jobs, rather than Albertans.

[Canadian_Mind]

Jabberwalker Jabberwalker:

You need to do more "value added" jobs in Alberta, like processing your own petroleum, rather than shipping it to the States where they get those manufacturing jobs, rather than Albertans.

Not enough young workers even if Alberta wanted more value-added jobs. Would be cool to have them in BC, Sask, and Manitoba though.

[herbie]

If bitumen was refined close by, there'd be no need for incoming diluent and only the half the shitstorm over pipelines to the coast.
Even partly refine it into crude just over the border in BC and there's be massive support. Listen to us in N Central BC where RAW EXPORTS have actually screwed most towns and jobs.
We chould be bitching that combined, BC & ALta now have the population of Quebec? Where's our feds hopping about with "our Meech Lake" BS? No wonder everyone hates the Senate.

[jj2424]

How many refineries do you think Alberta should build? We already refine more than what we use and another refinery is under construction. We still have to ship it after it's refined...you don't want pipelines...you don't want rail...you don't want trucks. With that attitude it's no wonder your economies are sucking wind.

[herbie]

Yeah I know. I grew up in Burnaby - half the Dads at our school worked at refineries.
Now the pump refined gasoline down that line and the refineries are mostly tank farms.
But who gives a shit how many refineries in Alberta? Worried about too many jobs or something?
That's why I mention Peace River part of BC. You can't build shit anywhere else here.
Try to build a laneway home in Vancouver - the permits will cost more than the price of a house in Northern BC

[Xort]

Canadian_Mind Canadian_Mind:

Not enough young workers even if Alberta wanted more value-added jobs. Would be cool to have them in BC, Sask, and Manitoba though.

Tons of people want them, but the education system isn't up to training people and next to none of the businesses want to train new people. All anyone wants is trained and certified people with 10 years of experience.

Or maybe they just want to be able to cry to the government that no one can fill the openings and then get quarter price temporary foreign workers to fill out the ranks.

[Canadian_Mind]

TFP is really starting to bother me. There are plenty of young people who would benefit from a TFP-like program, but inter-provincially (ie. from everywhere in the country to BC, Alberta, Sask, N.W.T, and Nunavut).

[Jabberwalker]

peck420 peck420:

As a Canadian first, Albertan second, I find this extremely saddening.

Our country will sink or swim, based on what the majority of the population is experiencing. It's awesome that my province is doing so well, but it does not have nearly enough of a population to support Canada. Not even enough to support half of Canada.

We desperately need Ontario, Quebec, and to a large extent BC, running as well. They don't need to hit the same level of growth as Alberta, just get running to the point of internal parity.

If that day ever comes, Canada is going to become significantly stronger global entity than our population would imply.

One of the issues facing Canada is that a high currency value that favours the resource extraction in the West is poison to the sort of manufacturing base the the East is built on. This is typical of "big currency" zones and you see it in other jurisdictions. The Euro works well for Germany but not so much for Spain. The US Dollar is relatively so high that it precludes any chance of the Rust Belt states being able to export, ever again.

I likely isn't practical to do so but back in the Middle Ages city states each issued their own currency. At least, those little regional currencies would provide proper feedback to their respective economic zones. Alberta needs a Cdn dollar at around $1.10 US and Ontario needs it to be around $0.90 US.

[QBC]

jj2424 jj2424:

Where are we going to put all the refugees from BC and Ontariowe?

Ship them to Ft. Mac, what else?

[Caelon]

Jabberwalker Jabberwalker:

One of the issues facing Canada is that a high currency value that favours the resource extraction in the West is poison to the sort of manufacturing base the the East is built on. This is typical of "big currency" zones and you see it in other jurisdictions. The Euro works well for Germany but not so much for Spain. The US Dollar is relatively so high that it precludes any chance of the Rust Belt states being able to export, ever again.

I likely isn't practical to do so but back in the Middle Ages city states each issued their own currency. At least, those little regional currencies would provide proper feedback to their respective economic zones. Alberta needs a Cdn dollar at around $1.10 US and Ontario needs it to be around $0.90 US.

Our currency compared to the US dollar (which is the currency you alluded to without saying so) is dependent on the relative strength of the US economy. When the US bank crisis drove their economy onto the rocks our relatively strong bank rules boosted our dollar relative to the US. We became the safe haven for foreign capital. In 2013 the US economy picked up steam and investment went back into the US so their dollar strengthened compared to ours. In 2014 our markets outperformed the US and our dollar strengthened until recently when other economic new made it fall back to the 92 cent range.

Alberta does not need a $1.10 and Ontario only needs a 90 cent dollar or even an 80 cent dollar as they are not cost competitive with US manufacturers. When the dollar was low they should have been retooling to become more efficient. Nothing stays the same and if Ontario wants to be competitive they need to be able to produce goods cheaper than the US with a par dollar or even a dollar above par. When Ontario can do that its economy will grow again. Well assuming they don't elect another McGuinty.

[Thanos]

Caelon Caelon:

Nothing stays the same and if Ontario wants to be competitive they need to be able to produce goods cheaper than the US with a par dollar or even a dollar above par. When Ontario can do that its economy will grow again. Well assuming they don't elect another McGuinty.

From the early indications of what Orville Reddenbacher's been up to so far it looks like Ontario just gave a majority government to someone who'll be much worse than McGuinty ever was.