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  #3461  
Old Posted Jul 12, 2017, 6:51 PM
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I think Puerto Rico's might be lower ....
Haiti is unrated by either S&P's and Moody's. That's probably as low as it gets...?
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  #3462  
Old Posted Jul 12, 2017, 6:54 PM
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I'm no longer sure what's being discussed. Canada took a very conscious decision that its provinces would NOT be expected to "compete" in terms of basic social services, to the extent of entrenching the mechanism (as a principle) in its constitution. A different decision could have been taken, but the chances of overturning what's now in place seem remote in the extreme.
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  #3463  
Old Posted Jul 12, 2017, 7:11 PM
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Originally Posted by kwoldtimer View Post
I'm no longer sure what's being discussed. Canada took a very conscious decision that its provinces would NOT be expected to "compete" in terms of basic social services, to the extent of entrenching the mechanism (as a principle) in its constitution. A different decision could have been taken, but the chances of overturning what's now in place seem remote in the extreme.
There is a very real case for equalization being interpreted as the foundation and lifeblood of the entire confederation. That said, it has been tweaked and adjusted over the years, and while "overturning" the very philosophy is not in the cards, one might expect further revisions down the line.
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  #3464  
Old Posted Jul 12, 2017, 9:05 PM
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The important news today is the rise in interest rates by the BoC. The rate hike is not however the relevant issue but rather the fact that the rate hike itself is even relevant.

This is a tiny little rate hike of just 0.25%. When I was a kid this news MIGHT make the 3rd page of the business report but today it is front page news. This exemplifies how incredibly sensitive our economy is on debt and how it's growth has been reliant on a near zero interest rate policy which has led to our current state of grotesque personal debt levels and near non-existent savings rate.

This is one of the issues behind our inflated real estate especially in BC and Toronto...........getting into debt is cheap and savings result in almost no interest advantage.
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  #3465  
Old Posted Jul 12, 2017, 9:08 PM
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There are also other factors at play that may be even more important.

A major one is that education levels have risen considerably. This has of course been going since the 60s but these things often take time to produce major dividends. In a couple of generations Quebec has gone from the least educated jurisdiction in Canada-USA to near the top of the heap. It has caught up with and depending on the age cohort you look at has even passed a number of its neighbours.

Another is the presence of women in the work force. Especially moms who work outside the home. I heard on Radio-Canada last week that 82% of Quebec moms work outside the home. In Canada (which includes that 82% Quebec figure) the percentage is 73. In the US it's 65%.
Yes, education has played a huge roll for sure! I can't believe I forgot to mention it.
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  #3466  
Old Posted Jul 12, 2017, 9:32 PM
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Originally Posted by geotag277 View Post
There is a very real case for equalization being interpreted as the foundation and lifeblood of the entire confederation. That said, it has been tweaked and adjusted over the years, and while "overturning" the very philosophy is not in the cards, one might expect further revisions down the line.
The earliest precursor to equalization arguably was the federal transfer arrangement that was negotiated as part of the conditions of Nova Scotia and New Brunswick joining. Customs and excise taxes were transferred to the federal government, and these were a much more important source of revenue in the Maritimes than in Ontario and Quebec. The federal government collected disproportionately high taxes in NS and NB and in exchange returned some extra money to those provinces in transfers.

Without the context people could look at that arrangement and think NS and NB were getting a special deal, but placed in a historical context it actually would have been less fair to treat every province in the same way. And in retrospect it is pretty clear that in those early days ON/QC were the big winners in Canada, not NS and NB!

The same thing happened over and over again in Canadian history, with province/region A getting a better deal, province B getting compensation, and then people complaining about province B's compensation after having forgotten the original context.
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  #3467  
Old Posted Jul 13, 2017, 1:10 AM
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Originally Posted by Acajack View Post
Another is the presence of women in the work force. Especially moms who work outside the home. I heard on Radio-Canada last week that 82% of Quebec moms work outside the home. In Canada (which includes that 82% Quebec figure) the percentage is 73. In the US it's 65%.
I think the 7 $ a day daycare system helped a lot in that matter.
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  #3468  
Old Posted Jul 13, 2017, 1:17 AM
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I think the 7 $ a day daycare system helped a lot in that matter.
Quebec’s child-care scheme pays for itself, economist
https://www.thestar.com/life/parent/...economist.html
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  #3469  
Old Posted Jul 13, 2017, 1:18 AM
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Canada is already one of the world's most decentralized countries in the world. The last thing we need is to continue that process so we become little more than fiefdoms.

Ottawa's control over healthcare funding is a good thing as it allows for national standards and portability. Any province can completely privatize their healthcare system {or not run one at all for that matter} if they choose but they would lose all healthcare transfer funds which is a very big carrot that Ottawa yields.

I am not saying the current transfer system is a good one but this is all about politics. I don't have a problem transferring funds to poorer provinces in order to maintain minimum national standards in health, education, and social services but there are limits. If a province is a "have-not" then it's civil service should not be allowed to exceed, for example, 5% more than the provincial averages. Our poorer provinces also tend to be the ones with the most bloated bureaucracies.

It's not the money that is sent that gets me irked but rather how they acknowledge a provinces ability to raise revenue. Why should it matter if one province has oil, another potash, another manufacturing, another forestry, or another Hydro? It's all money and income so should be measured equally. Let's be honest, if Ontario & Quebec were to discover gobs of oil tomorrow morning, oil revenue would be taken off transfer payment 'revenue streams" by tomorrow afternoon.
We may be pretty dencentralized, but it is not enough. I think we are too big of a country to give too much power to a central government.

The Federal Government does not just make sure provinces keep their system public, it meddles in how it should works. The last négociations betwwen the provinces and the Feds about healtcare funding are a proof of that. If federal politicians want to decide how provinces needs to run their healthcare systems, then they should run in provincial élections.
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  #3470  
Old Posted Jul 13, 2017, 1:27 AM
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Originally Posted by GreaterMontréal View Post
Quebec’s child-care scheme pays for itself, economist
https://www.thestar.com/life/parent/...economist.html
Thank you ! I was looking for a link like this. And this program, contrary to some opinions, is not paid by welfare from Canada. On the contrary (according to the study), Québec pays 700 millions $ a year more to Ottawa because of it. Withour any effort from the Feds. And the increase the program gives in the economy and in the fiscal capabality of Québec reduces equalization.
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  #3471  
Old Posted Jul 13, 2017, 11:02 PM
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Labour market conditions continue to show steady improvement in Alberta.

http://www.cbc.ca/news/canada/calgar...2017-1.4202817
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  #3472  
Old Posted Jul 14, 2017, 5:16 PM
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Downtown office vacancy rate in St John's.

June 2015: 3.8%
July 2017: 20.3%
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  #3473  
Old Posted Jul 17, 2017, 6:05 PM
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S&P has upgraded our financial outlook from negative to stable. We have a long-term credit rating of A and a short-term rating of A-1.
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  #3474  
Old Posted Jul 17, 2017, 6:30 PM
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Downtown office vacancy rate in St John's.

June 2015: 3.8%
July 2017: 20.3%
Holy crap.
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  #3475  
Old Posted Jul 17, 2017, 6:31 PM
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It's going to be a tough summer in the BC interior, first the flooding kept many vacationers away from the Okanagan, now fires throughout are keeping the vacationers away from many parts of the Cariboo, plus a number of mills are shut down due to wildfire. I feel bad for locals in places like 100 Mile House that rely heavily on tourism and forestry to sustain their local economies. It's going to be a tough year for many
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  #3476  
Old Posted Jul 17, 2017, 6:33 PM
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Holy crap.
Well to be fair, the cities of Newfoundland west (Edmonton & Calgary) are actually faring worse than St Johns right now
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  #3477  
Old Posted Jul 17, 2017, 7:35 PM
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From CBC Report. on a personal side, I am seeing an increase in design work locally. Have 2 proposals going in over the next few weeks that will be over 2 bill.

Alberta still punches above its weight, on a per-capita basis.

The province accounts for 20 per cent of total non-residential construction across the country, despite having only 12 per cent of the population.

In absolute dollars, Alberta's $2.461 billion ranks second among the provinces, behind only Ontario, which saw $4.857 billion in non-residential construction last quarter.

Quebec, by comparison, recorded $2.204 billion while B.C. had $1.426 billion.

http://www.cbc.ca/news/canada/calgar...2017-1.4208797
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  #3478  
Old Posted Jul 17, 2017, 7:49 PM
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^ industrial and health care I presume ?
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  #3479  
Old Posted Jul 17, 2017, 7:56 PM
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^ industrial and health care I presume ?
Yes and institutional in other areas. Plus the amount of GoA buildings and commercial operators doing mechanical upgrades is quite high. More so than other years.

During the Klein Cut years we all talked about when the mechanical systems would need to be replaced. Apparently now is the time.
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  #3480  
Old Posted Jul 18, 2017, 9:12 PM
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Ontario "green jobs" plant closing

Where will Siemens go next, maybe move to Alberta or BC where the next sucker government is ready to dole out the cash subsidies? Now that the high tech green jobs are going going gone what do we left, the low paying green jobs for solar panel installers?

https://www.theglobeandmail.com/repo...ticle35716643/
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