tag:blogger.com,1999:blog-5235138415013046381.post2566814093997506935..comments2023-10-25T07:29:40.789-02:30Comments on UNCLE GNARLEY: FINANCE MINISTER TO MEET FISCAL FREIGHT TRAINDes Sullivanhttp://www.blogger.com/profile/02566013585647491614noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-5235138415013046381.post-29837972147912191982015-12-23T06:42:17.535-03:302015-12-23T06:42:17.535-03:30I agree.....a very sad situation indeed. When you ...I agree.....a very sad situation indeed. When you remember just a few short years ago, NL was "riding high"!Marmaladehttps://www.blogger.com/profile/01651890655542192076noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-86188422667391866792015-12-23T05:43:42.568-03:302015-12-23T05:43:42.568-03:30I find absolutely frightening that the new Liberal...I find absolutely frightening that the new Liberal government is so paralysed in front of this phenomenal fiscal situation. No change to HST. Cozzying up with the unions to keep all the public service in their jobs. No plan to reduce spending whatsoever! No plan no ability to increase revenue!!<br /><br />To continue making matters worst and worst, the vast majority of Newfoundlanders simply take most of their money to Costco and Walmart, and ship all their monies directly to New Jersey and Kansas... without a second thought!! Newfoundland will never develop economically so long as they remain unwilling to spend their money at home. No one really questions why so many Newfoundlanders have to go to Alberta or elsewhere to work and make a living. Yet this is a clear, visible, cause-and-effect situation.<br /><br />Despite the highest literacy rate in history of mankind, most people seem to have no idea whatsoever about basic economics. Most people chose to ignore and avoid collective economic realities... it's easier and less stressful. Most of these college and university graduates of all ages simply believe money grows on trees.Hubert Alacoquehttps://www.blogger.com/profile/13326311213763103292noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-50837776077822351622015-12-16T07:32:07.006-03:302015-12-16T07:32:07.006-03:30I think Mr. Ball will be doing .......ooops, shoul...I think Mr. Ball will be doing .......ooops, should be doing some soul searching right about now as to WHY he ever got involved in politics in the first place! Therein lie the answers as to how he will proceed in the days to come!Marmaladehttps://www.blogger.com/profile/01651890655542192076noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-70389200651662313062015-12-15T00:07:44.625-03:302015-12-15T00:07:44.625-03:30"The HST issue could easily have been resolve..."The HST issue could easily have been resolved between Deputy Ministers."<br /><br />Obviously, you did not do research about this file.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-75514489115872577422015-12-14T11:30:08.903-03:302015-12-14T11:30:08.903-03:30Good post. To the actual deficit and debt I'd...Good post. To the actual deficit and debt I'd add one more number that people should be talking about: the cost of servicing the debt each year. You are right to point out that the provincial government's room to manoeuvre will diminish as the fiscal situation worsens. Presuming that low interest rates will last is little different from presuming that high oil prices would last. <br /><br />One root of the problem is that the Tories engaged in Keynesian-style policies precisely when the province needed it the least. Massive public spending and construction projects drove up the cost of labour and housing, fuelling high consumer spending. Now, as the construction projects wind down and health care costs continue to rise, the dependence on oil revenue will only worsen. <br /><br />The problem facing Dwight Ball is the risk that cutting public spending poses to the provincial economy. If oil prices do not recover unexpectedly in the short-term, then the only engine left to keep the economy afloat will be public spending (and, as you point out, "public spending" should encompass Nalcor). If Ball cuts spending or raises taxes at same time that oil & mineral prices remain depressed (and the job market in Alberta remains soft), then the so-called "mild" recession will be anything but mild. The media already seem to be poised to make Ball the scapegoat for Danny Williams's mistakes. <br /><br />Dwight Ball is, in other words, stuck. <br /><br />Jerry |Bannisterhttp://www.dal.ca/faculty/arts/history/faculty-staff/our-faculty/jerry-bannister.htmlnoreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-2008182510028981152015-12-14T11:08:44.476-03:302015-12-14T11:08:44.476-03:30Sadly you are right about having to sell Danny'...Sadly you are right about having to sell Danny's dream for a song to keep the province solvent. Emera will end up owning MF after the fire sale. <br /><br />All the contracts for MF must be made public now by the new government. They need close scrutiny and continuing to hide them will implicate the incoming government in the disaster unfolding on the Churchill. <br /><br />The north spur stabilization plan was promised by Nalcor in 2011. It has not yet been made public. Given the real risks, financial and physical, the incoming Liberals are in the crucible. Will they protect the public and the investment and release all engineering reports on the spur or will they continue the shocking disregard shown to date for the looming catastrophy.Bruno Marcocchiohttps://www.blogger.com/profile/08076165212559914463noreply@blogger.comtag:blogger.com,1999:blog-5235138415013046381.post-90553847227917277282015-12-14T08:50:42.678-03:302015-12-14T08:50:42.678-03:30One of the big illusions in this province is that ...One of the big illusions in this province is that the deficit will disappear in 4 years due to increased revenue? This is without basis, as the Hebron royalties will be much lower than was ever envisioned. Tier 1 payout will be extended well into the next decade. We have 10 years of major deficits unless we do something. Dwight needs to balance the budget in a 5 year plan that wont kill the economy. <br /><br />But things now are still really good in the province. Wait until 2017 when Hebron and Muskrat winds down. <br /><br />Danny Williams created this mess. People still cheer him at Mile One, or the media go on tours of Galway without asking any questions of his great political legacy. Herin lies the issue in Newfoundland's history. Anonymousnoreply@blogger.com