"...Provincial governments are finding borrowing costs going up as investors are pushing up the premiums they demand to hold their bonds in light of growing budget deficits and deteriorating economic fundamentals in the oil provinces.
The spread between provincial bond yields and Government of Canada bond yields have widened to levels not seen since 2009 and it is not just the oil-dependent provinces that are experiencing higher borrowing costs...."
"...The ratings agencies have certainly taken note. Alberta lost its top-notch rating on its debt in December after Standard & Poor’s downgraded the province as it continues to reel from the oil price shock."
Just in time for all that NDP spending!
Know what, the drop in oil prices actually is a good thing. Could you imagine what the NDP would have done with all that money?
Once prices recover - assuming they do - Albertans can reclaim their prior senses and resume normalcy by not electing the NDP anymore.
They just have to hope the damage will be limited in the meantime.
I still can't believe the province of Alberta voted NDP.
***
Speaking of deficits, expect the Liberals to do their part. A pre-election article from BNN:
"Just as Justin Trudeau looks like he’ll get the chance to implement his plan to prime Canada’s economy with debt, some of the world’s biggest investors say they’re not interested in picking up the tab.
Polls show Trudeau, leader of Canada’s Liberal Party, with enough support to unseat Conservative Prime Minister Stephen Harper after running a campaign whose centerpiece was to increase infrastructure spending with $25 billion in deficits over three years."
The Liberals hand those bums in Bombardier a hand out in 3, 2...
The spread between provincial bond yields and Government of Canada bond yields have widened to levels not seen since 2009 and it is not just the oil-dependent provinces that are experiencing higher borrowing costs...."
"...The ratings agencies have certainly taken note. Alberta lost its top-notch rating on its debt in December after Standard & Poor’s downgraded the province as it continues to reel from the oil price shock."
Just in time for all that NDP spending!
Know what, the drop in oil prices actually is a good thing. Could you imagine what the NDP would have done with all that money?
Once prices recover - assuming they do - Albertans can reclaim their prior senses and resume normalcy by not electing the NDP anymore.
They just have to hope the damage will be limited in the meantime.
I still can't believe the province of Alberta voted NDP.
***
Speaking of deficits, expect the Liberals to do their part. A pre-election article from BNN:
"Just as Justin Trudeau looks like he’ll get the chance to implement his plan to prime Canada’s economy with debt, some of the world’s biggest investors say they’re not interested in picking up the tab.
Polls show Trudeau, leader of Canada’s Liberal Party, with enough support to unseat Conservative Prime Minister Stephen Harper after running a campaign whose centerpiece was to increase infrastructure spending with $25 billion in deficits over three years."
The Liberals hand those bums in Bombardier a hand out in 3, 2...
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