SCIC, Brad Wall, and Nobody is Talking About this

[LEP]

Newguy. Sask govt never put their share in. It's an iou.

[Klause]

Under all the years of ndp and Devine crop insurance never got dipped into and ran surpluses... Now no more surpluses and the amount owing has been growing steadily and evenly.


The thing is of a large frost or drought hit crop insurance would be unfunded... And the provincial government has no cash on hand to lend to crop insurance which means they would need to borrow money to pay back borrowed money.


Also telling even after last year the province still took 100 million.


This means either premiums are way too high for the coverage or it's done as a purposeful tax on producers.

[sumdumguy]

Brad Wall better head for the hills.

[Ache4Acres]

Looks to me like our captain abandoned ship and left us all to sink.

Governments across the globe are reaching a tipping point of collapse and our Federal and Provincial govts are no different. Wall knows that we are close to utter disaster and he sees a massive crop insurance bill this year on top of the large amount they already owe. Crop insurance is going to pay out amounts this year that they possibly have never paid out before. The writing is on the "wall" and the wall has left the building.

[the big wheel]

Mustard didn't you see that Sasquatch in skfrmrs boat then big fat hairy legs.

[bucket]

How does GARS fair with a year like this....

[sumdumguy]

Good Luck Gars, but at least they don't have the government picking their pockets.

[bucket]

Nope but if they fail the government will have to pick up Walls buddies debt there.....

[Klause]

GARS premiums will be insane next year.


There was a company in Manitoba that tried the same thing in 2007... I have the pamphlet from them from AgDays... They disappeared in 2009 when the flooding happened.

[furrowtickler]

What burns me is the fact that many thought of Sask crop insurance was a great gift from the politicians to farmers .
Well in fact our premiums have been a gift to all tax payers when you see the numbers. There were a few on here that said we were so well covered as farmers and we should not complain blah , blah and that the insurance premiums were covered in part by tax payer money . Well the numbers don't lie that Klause showed - farmers money has been basically stolen to feed the taxpayers. Hmmm , unless I read this wrong , crop insurance will have nothing to pay out in a year like this . Going to be interesting, Wall knows this and most likely was one of the final straws that made him scramble . I could be wrong but it the moon and the sun , literally have sure lined up that way ......

[sumdumguy]

Who knows what the grand pooba CEO of Crop Insurance makes?

And furthermore the feds 'gave' AgriStability to Provincial crop insurance so they could help themselves to more premiums. Thank You Harper, can't blame Libs for that. Wanna say a lot more but won't. We need new blood in the Sask Party. No one needs any of these bozos!

[danny W1M]

The Sask government borrowed idled money from Sask Crop Ins., instead of borrowing from some U.S. bank, simple as that. I think Klause even posted the interest that the gov't is paying to SCIC. If there happens to be a wide spanning insurance peril, the Sask government will then have to borrow some money from somewhere, to pay back SCIC. Up till then, why borrow from a U.S. bank and risk the exchange of a falling CAD dollar, while having this large pool of money in SCIC? Borrow if you have to, but why not borrow from yourself up till then?

One of the best things Brad Wall did, was to pay back 2 Billion dollars to the U.S. banks while our dollar was at par with the U.S. That 2 billion we paid back at par, would now cost us 2.5 billion at a $0.80 CAD.

[the big wheel]

Why is there this large pool of money when the program is so expensive in the first place? Too wet acres three times what manitoba is. And so is the regular crop insurance as well using disaster yields for your long term. Could think of a hundred ways to use that money to improve the program.
Can I get a cheap loan from them too after all the amount of money I pay in premiums should count for something.

Wasn't advertised as a smart business move wasn't advertised at all. Don't bother trying to defend it. This is the tip of the ice berg of how they took all of us as fools because too many of us are fools.

When you tell a party we ll vote for you even if you have shady deals and fill all your pockets and screw us at the same time why wouldn't they do just that?

Sumdumguy is correct they need to clean house maybe get s leader from outside because they've been useless. Anybody hear any of them even mentio the drought or the flood?

[Guest]

But the question is why are some (and some on here) saying we are being subsidized through scic , when in fact we are subsidizing the sask govt ??

[WiltonRanch]

Why is there this large pool of money when the program is so expensive in the first place? Too wet acres three times what manitoba is. And so is the regular crop insurance as well using disaster yields for your long term. Could think of a hundred ways to use that money to improve the program.
Can I get a cheap loan from them too after all the amount of money I pay in premiums should count for something.

Wasn't advertised as a smart business move wasn't advertised at all. Don't bother trying to defend it. This is the tip of the ice berg of how they took all of us as fools because too many of us are fools.

When you tell a party we ll vote for you even if you have shady deals and fill all your pockets and screw us at the same time why wouldn't they do just that?

Sumdumguy is correct they need to clean house maybe get s leader from outside because they've been useless. Anybody hear any of them even mentio the drought or the flood?

Have to agree. Party needs new blood cause I don't want an ndp govt. We criticize the current govt for their blunders but the last ndp govts though fiscally prudent never kept anything up nor did anything to move the province ahead. If we go back to the doom and glume days of the ndp you can forget any money spent on rural roads or hospitals. The cities will put them in and the money will float there. The ndp has been shut out of rural sask so long they have no presence and no care cause they can sweep the cities and reserves. The ndp propaganda machine has been waiting in the weeds for 10 years waiting for the right time to pounce. They find enough ammo they'll spin it enough to dupe the masses. The way elections have been going lately people are unsettled and are prone to dump governments solely for the sake of change.