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The Following 2 Users Say Thank You to Burninator For This Useful Post:
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03-20-2009, 09:36 AM
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#1102
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Franchise Player
Join Date: Aug 2005
Location: Calgary
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Fantastic article. Its classic that fat bankers try to blame a PHD Math student. Its not his fault you lumped garbage and classified it as AAA credit.
__________________
MYK - Supports Arizona to democtratically pass laws for the state of Arizona
Rudy was the only hope in 08
2011 Election: Cons 40% - Nanos 38% Ekos 34%
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03-20-2009, 09:50 AM
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#1103
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Franchise Player
Join Date: Jul 2005
Location: in your blind spot.
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What the heck is the deal with the good news all of a sudden?
Quote:
The threat of deflation ebbed as Canadian consumer prices in February climbed 1.4 per cent from a year earlier, and a robust 0.7 per cent from the month before.
Normally, rising inflationary pressure would be cause for concern about possible economic overheating. But given the current recessionary climate, the sighs of relief were almost audible as the spectre of deflation faded with yesterday's tally from Statistics Canada.
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http://business.theglobeandmail.com/.../Business/home
Quote:
Statistics Canada reported Friday that month-over-month sales rose in five of eight retail sectors in January, led by a 3.8 per cent increase in the automotive sector.
The volume of retail sales was up 1.8 per cent.
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http://business.theglobeandmail.com/.../Business/home
__________________
"The problem with any ideology is that it gives the answer before you look at the evidence."
—Bill Clinton
"The greatest obstacle to discovery is not ignorance--it is the illusion of knowledge."
—Daniel J. Boorstin, historian, former Librarian of Congress
"But the Senator, while insisting he was not intoxicated, could not explain his nudity"
—WKRP in Cincinatti
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03-20-2009, 11:56 AM
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#1104
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Had an idea!
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Certainly is good news for us.
If the price of oil keeps going up, Alberta will do just fine.
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03-22-2009, 06:03 PM
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#1110
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Had an idea!
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Quote:
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WASHINGTON, March 20 (Reuters) - U.S. congressional budget experts on Friday offered a darker economic and budget outlook, projecting a breathtaking $1.8 trillion deficit this year, which could complicate President Barack Obama's efforts to win passage of his $3.55 trillion budget for 2010.
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http://www.reuters.com/article/bonds...49806720090320
Wow.
3x increase? Wasn't the last budget deficit under Bush around $400 billion?
Absolutely insane.
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03-22-2009, 06:11 PM
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#1111
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Had an idea!
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Quote:
Here's the background: Before the stimulus bill passed, I asked for states not to be bailed out. After it was signed into law, I said that a state bailout would create more problems than it solved, and that we shouldn't spend money we don't have. That debate was lost, so I looked for a reasonable middle ground. I asked the president for his support in using the $700 million to pay down state debt.
If we're going to spend money we don't have at the federal level, it becomes all the more important that our state balance sheet is in good order -- particularly if this is a protracted downturn. But many people do not realize that the stimulus money runs out in 24 months -- at which point South Carolina will be forced to find a new source of funding to sustain the new level of spending, or to make sharp cuts. Sure, I could kick the can down the road; in two years, I'll be safely out of office. But it would be irresponsible.
If South Carolina could use stimulus money to pay down debt, in two years we will be able to spend, cut taxes or invest even if the federal government can no longer provide more money -- not a remote possibility. In fact, paying debt related to education would free up over $162 million in debt service in the first two years and save roughly $125 million in interest payments over the next 13 years -- just as paying off a family's mortgage early frees up money for other uses.
When you're in a hole, the first order of business is stop digging. South Carolina is in a hole, and it's not a shallow one. Spending stimulus money on ongoing programs would mean 10% of our entire state budget would be paid for with one-time federal funds -- the largest recorded level in state history.
Also, spending stimulus money will delay needed state restructuring. General Motors recently found itself in a similar spot. It needs to be restructured if it is to prosper, but a federal bailout enabled it to put off hard decisions. Likewise, taking federal stimulus money will only postpone changes essential to South Carolina's prosperity. Though well-intended, it forestalls hard choices we must make.
One of Mr. Obama's central campaign themes was his pledge to do away with politics of the past. In his inaugural address, he proclaimed "an end to the petty grievances and false promises, the recriminations and worn-out dogmas, that for far too long have strangled our politics."
This idea connected with millions of voters, myself included. I've always believed ideas should rise and fall on their merits. In fact, I saw such historical significance in his candidacy and the change he spoke of that I published an op-ed on it before South Carolina's presidential primary last year. It was not an endorsement, but it did note the historic nature of his candidacy and the potential positive change in tone it represented. That potential may now be disappearing.
Last week I reached out to the president, asking for a federal waiver from restrictions on stimulus money. I got a most unusual response. Before I even received an acknowledgment of the request from the White House, I got word that the Democratic National Committee was launching campaign-style TV attack-ads against me for making it.
Is this the new brand of politics we were promised? Instead of engaging with me and other governors on the merits of our dissent, I am to be attacked in television ads? In the end, I just don't believe a problem created by too much debt will be solved by piling on more debt. This doesn't strike me as an unreasonable or extremist position.
Nevertheless, the White House declined my request for a waiver yesterday afternoon. That's unfortunate. But in coming months we'll continue advancing the debate at the state level about the merits of debt repayment. The fact remains that while we'd all like to spend unlimited dollars on the very real needs that exist in our state, we must spend in the context of what is sustainable.
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http://online.wsj.com/article/SB123759827524401409.html
South Carolina governor's take on why he doesn't want a stimulus.
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03-22-2009, 06:30 PM
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#1112
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#1 Goaltender
Join Date: Jan 2007
Location: Southern California
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Quote:
Originally Posted by Azure
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Its becoming increasingly clear why the Obama campaign would not give specific information about their economic policy.
Its hard to see the change he campaigned on.
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03-22-2009, 07:57 PM
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#1113
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Farm Team Player
Join Date: Jan 2004
Exp: 
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03-22-2009, 08:02 PM
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#1114
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Franchise Player
Join Date: Feb 2002
Location: Silicon Valley
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Quote:
Originally Posted by Fueled By Fire
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Holy crap... wow...
__________________
"With a coach and a player, sometimes there's just so much respect there that it's boils over"
-Taylor Hall
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03-22-2009, 08:06 PM
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#1115
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Franchise Player
Join Date: Feb 2002
Location: Silicon Valley
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Quote:
Originally Posted by fotze
Great news for PC employees, any here?
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why is that great news?
__________________
"With a coach and a player, sometimes there's just so much respect there that it's boils over"
-Taylor Hall
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03-22-2009, 08:08 PM
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#1116
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Lifetime Suspension
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Quote:
Originally Posted by Fueled By Fire
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what does this mean to their Ft Hills project? any speculation?
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03-22-2009, 08:59 PM
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#1117
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First Line Centre
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Don't see how this doesn't work out well for SU!
-they buy low in CDN currency
-they get the increasing margins from the refining business
-PCA was a cronic under performer and the government hang over seemed to hamper it but the assets are as good as anyones but stock price has never reflected this...
-the stock actually hasn't made money for 5 years so it was time to repackage it and get more out of it.....this is one way to shake the activist shareholder OTPP and they might even attract new investment interest from OTPP
-they own a lot of smaller oilfields and not one big one and this is part of the reason that they were cronically undervalued...
-you get the Olympic mugs 
-Likely won't happen but I like the name Petro Canada better then Suncor...
-TLM is likely next to go...
-Wonder which bank is going to finance the deal 
-Does this guy take a pay cut? http://people.forbes.com/profile/ron...renneman/10235
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03-22-2009, 09:08 PM
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#1118
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Lifetime Suspension
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Quote:
Originally Posted by fotze
Great news for PC employees, any here?
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Me.
Very shocking news to say the least.
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03-22-2009, 09:10 PM
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#1119
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First Line Centre
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Quote:
Originally Posted by fotze
Who is taking out talisman, I have heard a couple possible suitors.
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Not sure but would guess someone like Total in the next year or so....I am surprised that it took this long for the M&A party to begin with the big fish and was surprised at the big co's like Total nibling on co's like UTS....they have the money as does Exxon and many others....glad that PCA & SU stay CDN though....This is a very bullish sign for where these companies see the price of oil going in the near future and Opec's decision is another good indicator....
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03-22-2009, 09:58 PM
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#1120
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Scoring Winger
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Quote:
Originally Posted by Fueled By Fire
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Reading the comments section on the above is somewhat "entertaining" . . .
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All those ex patriot Americans in Alberta who've been gouging Canadian taxpayers for years working in the oil industry. We should make it really hard for Americans to immigrate to Canada, they are so unsocialist and greedy. The most serious malcontent on here is Mike Sharp who posts more than I and all he ever says is he wants a tax cut poor thing.
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