tag:blogger.com,1999:blog-6929537540404873123.post4899187589132990862..comments2023-10-04T06:59:20.803-06:00Comments on The Enlightened Savage: Diversification: Not Just For Your Portfolio AnymoreEnlightened Savagehttp://www.blogger.com/profile/17872131888278838737noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6929537540404873123.post-17787259733249681532009-01-20T19:37:00.000-07:002009-01-20T19:37:00.000-07:00Actually, I'd love to live in France. But that'...Actually, I'd love to live in France. But that's more to do with the food. And the wine. Perhaps the women. Where you hang your hat isn't just about the GDP.<BR/><BR/>Now, I wonder if the great Enlightened Savage will translate to his Tory friends that if Stelmach can't be held responsible for this, what about Bob Rae? Rae, of course, drove the Ontario economy into the ground in the early 90s when the rest of the Canada and North America was doing fine and it was only this province that suffered.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6929537540404873123.post-33485637434075193912009-01-20T19:02:00.000-07:002009-01-20T19:02:00.000-07:00Great Points E.S., I have found your posts to be w...Great Points E.S., I have found your posts to be well informed and always entertaining! We are in interesting times and it is always great to see some perspective from my own generation!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6929537540404873123.post-80447528709930195722009-01-19T11:55:00.000-07:002009-01-19T11:55:00.000-07:00Thanks Andy, I loved the (a) and (b) comment.TPB, ...Thanks Andy, I loved the (a) and (b) comment.<BR/><BR/>TPB, where do you think the money went? [I know a big number went to paying off the teachers' pension liability]. Maybe we all need "WWMD" buttons to wear (What Would Mason Do).<BR/><BR/>I find it sadly funny when a supporter of the NDP tries to mention "saving for a rainy day" in the same sentence with spending more on infrastructure, healthcare, and education. Would an NDP gov't get to use a magical buy-1-get-1-free coupon for roads, bridges and schools to make them cheaper?<BR/><BR/>We can all join the pity party, but as Andy implied, there are very few jurisdictions where we would rather be during this time of global recession (I can't think of any). Virtually debt-free, with cash in the bank and resource wealth, and abundant space for expansion. Low taxes, and the highest paid public sector employees in the country means a lot more take-home pay if you are a nurse or a teacher.<BR/><BR/>Where would you rather be? France, that bastion of socialist thought, where the President is now trying to dismantle the friction costs of operating a business in that country. Germany, an industrial society, but one with terrible demographics. Italy, Spain? don't get me started. Even mighty Norway isn't doing so well these days I should think.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6929537540404873123.post-3024927657831962592009-01-19T07:00:00.000-07:002009-01-19T07:00:00.000-07:00It's not just about Stelmach. Albertans like to p...It's not just about Stelmach. <BR/><BR/>Albertans like to pretend that everytime the Tories get a new leader, we somehow have a new government. But that's bull - there has been no 'regime change' in Alberta. The Tories have been in charge for a couple of generations.<BR/><BR/>Stelmach may have only been one voice at the cabinet table, but at least half the current cabinet have been at that table for some time.<BR/><BR/>The Tories don't get to wipe the slate clean just because Ralph left. They didn't diversify the economy, they didn't save for a rainy day, and god knows what they blew the money on - because it wasn't on things that last (like schools, roads, hospitals and other infrasturctre).Tiny Perfect Bloghttps://www.blogger.com/profile/00838975889814165844noreply@blogger.comtag:blogger.com,1999:blog-6929537540404873123.post-17662597472549804972009-01-18T22:26:00.000-07:002009-01-18T22:26:00.000-07:00As GOA public servant who reads Daveberta and the ...As GOA public servant who reads Daveberta and the new Journal Blog, I've since realized:<BR/>1) Alberta is doomed<BR/>2) I'm an evil bad person because of my job<BR/><BR/>Talking about diversification is easy. Getting the private sectors to diversify; very hard. There's a saying about leading a horse to water.<BR/><BR/>But, if Alberta really wants to get serious about new technologies and business sectors (like health science in Edmonton) then I would say that almost every jurisdiction in the world would love to trade places with a province that has a massive supply of a resource that's highly sought after - today. Even if the oil sands aren't developed for, um, oil, think of how useful they will be for other resource development. <BR/>But, the gov can only do so much, even if David Swan is running the show.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6929537540404873123.post-69559942931874979732009-01-18T20:39:00.000-07:002009-01-18T20:39:00.000-07:00I can't remember my place - are we supposed to be ...I can't remember my place - are we supposed to be talking about<BR/>(a) how we should have saved more, or<BR/>(b) how we should have spent more on infrastructure (hospitals, interchanges, light rail, etc.)?<BR/><BR/>It just seems to me that the critics alternate between those two, mutually exclusive alternatives.<BR/><BR/>At the risk of sounding like an unabashed defender, I would point out that most individuals pay off their mortgage before buying GICs. That is, in essence, what the gov't had done. If we had had a larger Heritage Savings account, but also retained significant gov't debt, after this financial market decline we would still have the debt, but our savings would have been mutilated along with everyone else's.<BR/><BR/>The largest budget items are health and education, by far. We have become a victim of our own success, and gov't are loathe to tell people they can't have something. I remember not very long ago outcries over crowded hospital hallways, university/college affordability and spaces (still ongoing). By all means, let's get a handle on spending, but tie a ribbon around your finger to remember the next time you write a letter to the editor angry at the fact Auntie May couldn't get her hip replaced for six months.<BR/><BR/>With respect to the economy, I think E.S. is right. Alternative energy is one way to diversify the economy. We are geographically disadvantaged with respect to hydro resources, but we have wind (more than other province already, but much more can be done), and we get a heck of a lot of sunshine as well. And it is not all about energy... we can build upon what we have in the financial and biotech industries as well.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6929537540404873123.post-61294326858123261612009-01-18T14:42:00.000-07:002009-01-18T14:42:00.000-07:00Justin: I'll readily admit that Ed has been sittin...Justin: I'll readily admit that Ed has been sitting in cabinet for over a decade. However, I firmly believe that the "sitting at the cabinet table" argument is far too often used to blame people who move from cabinet to the Big Chair. Sure, he sat in cabinet as the Minister of Infrastructure, and Transportation, and Agriculture, etc. But does Ralph strike you as the sort of Premier who would walk into a cabinet meeting with his mind made up about something, and have it changed by what he heard in the meeting? <BR/><BR/>In situations like that, "having a seat at the table" just means you get to be told in PERSON what legislation and policies you're being instructed to support, regardless of your personal opinions. You can still argue for your point of view - but if it's shot down, no-one outside the room will ever know what it was. For all we know, Stelmach went into every meeting arguing forcefully for mandatory pink, ruffled school uniforms across the province. When you're in Cabinet, you come out of the room and say what you were told to say by the Premier - nothing more.<BR/><BR/>Let's not forget: Stelmach was a member of the "Deep Six". As a back-bencher, free to disagree with the cabinet (to a degree), Ed seldom saw a spending cut or savings plan he didn't like. When he was at his free-est to speak his true mind, he wanted to save, save, save. The suggestion that he's as guilty for the current government's spending problem as is Klein and his group of advisors is just wrong. He inherited a bloated system full of inefficiencies and long-term commitments, and faced with $100-per barrel oil couldn't justify cutting program spending to Albertans in the middle of a boom.<BR/><BR/>To whit: Ed was as much a part of the "Klein Regime" as I am of the "Stelmach Regime" - we both just worked for the Premier, and said what we were told to say while we were on-the-clock.<BR/><BR/>The difference is, I'm not on-the-clock right now. And cabinet members make a bit more per year than... whatever it is that *I* do for the government. ;)Enlightened Savagehttps://www.blogger.com/profile/17872131888278838737noreply@blogger.comtag:blogger.com,1999:blog-6929537540404873123.post-21816228044358863482009-01-18T14:22:00.000-07:002009-01-18T14:22:00.000-07:00Are you maybe letting Stelmach off the hook a litt...Are you maybe letting Stelmach off the hook a little to easily though? Diversifying our economy to insulate against future oil and gas price shocks is not a new idea - just one that the government hasn't made a high priority in the past. <BR/><BR/>We've always known that Alberta's revenue was subject to unpredictable swings as oil and gas prices changed. But rather than plan for the current downturn by saving a large portion of resource revenue, the government chose to spend most of it. That wasn't an accident, it was a decision. Stelmach has been in Cabinet since 1997. He was at the table when the spending decisions were made, and he should take some of the responsibility for the effects of those decisions.<BR/><BR/>The argument that the poor guy is getting blamed for things beyond his control is a little disingenuous. It's partly true, as he can't control commodity prices, but partly not true, as he was part of the previous regime too.Justinhttps://www.blogger.com/profile/17686535575831433530noreply@blogger.com