Newfoundland effectively insolvent

[Austrian Economics]

A debt of $47 billion for a province of 500,000? Huge cuts to health care and education are on the table after the latest report on Newfoundland's finances:

https://www.cbc.ca/news/canada/newfoundland-labrador/report-greene-recovery-1.6016005?fbclid=IwAR0iBPFPDcruJR0O0pmUupRX8ip7WpN VpdxajzWri9ISPnFT-0hCxbr7iaU https://www.cbc.ca/news/canada/newfoundland-labrador/report-greene-recovery-1.6016005?fbclid=IwAR0iBPFPDcruJR0O0pmUupRX8ip7WpN VpdxajzWri9ISPnFT-0hCxbr7iaU

Lest anyone think that this will end with Newfoundland, it's likely that many provinces are now in the same sinking boat. My guess is that Manitoba is not far behind.

Newfoundland is set to become a ward of the central bank as the market for their debt dries up.

[sumdumguy]

Fort McMurray was the life-blood of many Newfoundland families. One of the comments was spot-on, “Where is the Reset Report for Canada?”

[biglentil]

Newfoundland is having a modern day gold rush. Albertans will be flying there for work.

[furrowtickler]

Hmmmm
First provincial UBI recipients?
Cede all property to crown for debt forgiveness?

[FarmJunkie]

Manitoba is phuck a rood to. After all the years of Stalinger and Doer raping Mb Hydro of their profits the current government has nothing to fall back on. Too many takers and not enuf givers does not end well in the finance department. Our system is unsustainable the way it is currently being run and no one has the balls to say no to anyone or anything.

[furrowtickler]

Too many takers and not enough givers ..... truest words ever spoken .
It is impossible to sustain a society like that . Trudeau is currently endorsing that ideal with UBI Canada wide . It will collapse the system. That and more government workers that take from the system and do not create wealth will add fuel to the flames .
Saskatchewan is getting close to that tipping point as well .

[biglentil]

Ubi is slavery.

[jazz]

Trudeau authorized nation borrowing from $1.5T to almost $2T this past budget and he didnt announce any new programs to go with it. I sense a provincial bailout coming for a few provinces probably in the maritimes.

MB would do well to purge their commies and align with resource wealth in AB and Sk. Make a pact for multi commodity transportation to churchill. We will take a bit of that excess hydro in exchange and we can push it all the way into AB.

[blackpowder]

I still don't understand what good Churchill will ever be closed 9 months of the year.

[jazz]

I still don't understand what good Churchill will ever be closed 9 months of the year.

She will be ice free in 2 yrs with climate change.

Oil and NGLs can be stored. Grains and potash can be warehoused. Then fire them out in the summer window.

In the off season send up tons of tourists to see the polar bears.

[fcr]

Saskatchewan is rolling along the best of all the provinces,try to find a contractor.They are all booked for a year and beyond.However we are having the driest spring in recent memory for most and this will be a massive hit to the whole province.

[AlbertaFarmer5]

She will be ice free in 2 yrs with climate change.

Oil and NGLs can be stored. Grains and potash can be warehoused. Then fire them out in the summer window.

In the off season send up tons of tourists to see the polar bears.

I thought the polar bears all died due to climate change, you know the same climate change that is making the arctic ice free, and warming not twice, but now 3 times as fast as the rest of the world.

[WiltonRanch]

Maritimes biggest black mark is an old population. Young people left in droves for better prospects and only return when they’re ready to die. I watched that Island Diaries show about St Pierre islands. They’re just off Newfoundland and a French territory. They’re a ward of the French govt. when fishing went to pot so did the economy. In fact a lot of those colony islands are in the same boat. Often times a single industry that goes bust and no incentive for the young to stay. All that’s left are the old, ones who serve the population, and the unemployed. Tourism is about all that’s a driver but that’s a fickle beast. Point is Newfoundland and maritimes are doomed to be wards of the federal government. They’re deep as it is and don’t have the people to drive the economy. We all think you need hard resources to make wealth and that is true enough but without people to develop them it’s no use. An able work oriented population is a bigger resource than the ore in the ground.

[dmlfarmer]

She will be ice free in 2 yrs with climate change.

Oil and NGLs can be stored. Grains and potash can be warehoused. Then fire them out in the summer window.

In the off season send up tons of tourists to see the polar bears.

But what if the customers for our grains do not want delivery that matches our 2 month shipping window? Sounds like a great way for savy traders/foreign buyers to discount western grains again if they know large amounts of grain must be moved in a short time period.

[jazz]

But what if the customers for our grains do not want delivery that matches our 2 month shipping window? Sounds like a great way for savy traders/foreign buyers to discount western grains again if they know large amounts of grain must be moved in a short time period.

They already know where the grains are.

Look at Australia. Haul everything off the combine to a central facility then start marketing.

Customer options sometime open up when I he commodity is already at port. It would only be fraction of our production.