Page 7 - February 17 2020
P. 7
THE WEEKLY ANCHOR
THE WEEKLY ANCHOR MONDAY NOVEMBER 25, 2019 PAGE 11
MONDAY FEBRUARY 17
, 2020 PAGE 7
Student loan borrowers now able to apply online instead of paper
Dear friends, Our new red tape reduction strategy aims to
West Yellowhead MLA improve consultation for industry and Indigenous
I'm happy to see that the “deep freeze” many people. Our government takes the duty to consult
of us experienced over the past week has finally Martin Long very seriously. This duty is triggered when a
ended and that things are starting to warm up. I development project may adversely affect treaty
wanted to update you on some of the or Aboriginal rights, or cultural or harvesting
announcements we've made over the past week. practices. A revised version of The Government
Locally, here in West Yellowhead, I am excited of Alberta's Proponent Guide to First Nations and
to announce that the province and the Town of This week we announced a number of Metis Settlement Consultation Procedures will
Hinton partnered to construct the new complex initiatives to help reduce red tape and provide a clearer application process to improve
as part of a greater affordable housing administrative burdens. We streamlined our overall consultation and give industry and
development. Our government contributed $1 regulatory process for electricity providers to Indigenous communities more certainty when
million to the project, which will include nine carry out their winter construction plans. We also moving development projects forward.
affordable housing units, three of which are updated food regulations, which will create new Lastly, I would like to invite you all to attend
barrier-free. This is part of the Seniors and business opportunities for bed-and-breakfasts our Fair Deal Panel in conjunction with the
Housing Capital Plan, which includes $619 and will also help food banks serve Albertans residents in the Lac Ste. Anne – Parkland riding.
million over four years to deliver 2,700 new and more effectively. I am also excited to announce MLA Shane Getson and I will be hosting
regenerated affordable housing units while that student loan borrowers will now be able to constituents at the Diamond Centre in
maintaining 26,400 existing units. I'd like to apply online instead of via paper applications, Mayerthorpe on February 19 from 7:00 pm –
extend a big thank you and congratulations to starting February 7. This reduces regulatory 8:30 pm to discuss issues of national unity and
Happy Creek Estates, the Evergreens foundation barriers, and will also save taxpayers roughly how Alberta can get a fair deal from the Federal
and the Town of Hinton! $400,000 per year. Government.
IF soroka has a column Letter to the Editor:
put on this page too Writer asks if provincial spending restraints are good for Albertans
Is the Alberta government's spending restraint a The most recent Bank of Canada move was to agriculture / land reclamation to address climate
good thing for Albertans? You've probably heard
Gerald Soroka the seemingly clever statement, "We should run our of North Americans, already at record high levels, and to step up their aggressive purchasing of
change, to develop more alternative energy sources
hold steady on the lending rates. The personal debt
government finances like we run our personal
industry throughout the world. Because of
is creeping up. It might be expected that the central
MP Yellowhead finances." There is some truth in that statement. banks would increase the lending rate to curb this American intervention, Venezuela is merely
Most of us borrow money to buy our homes. Who potentially dangerous situation. They have not floundering with the largest oil reserves in the
doesn't? Some even get 2nd mortgages to renovate because they fear stalling the economic growth. world. Alberta? Alberta is just firing people.
them. A few people have to borrow to re-roof. The The North American economy is now debt driven. In 2008 Wall Street crashed the world economy
mortgages and the big repairs are the most obvious Our economic growth is dependent upon debt. Wall again. Canada survived, relative to almost every
examples of how our household finances use credit Street, Bay Street and the central banks are worried other nation around the world, unscathed with very
to function. that households are going to stop borrowing. They few foreclosures or governments ruined. The initial
The bigger picture is the role of debt from the fear recession. In the midst of this, our provincial buffer was afforded us because of the banking laws
perspective of the overall economy. Even personal government has decided to cut back, cut back and created by the governments of John Turner and
debt that leads to bankruptcy is acceptable for the cut back more. We are told that the cut backs in Brian Mulroney. Then, as that immunity started to
economy if the number of people doing it is not too spending are to reduce the deficit. The government wear off, Harper started spending money. The
high. Why? Because people are spending money of Alberta claims to not want to borrow. Harper government always overspent and increased
on goods and services. This policy will lead to higher unemployment. the national debt by 22.8% … (not as high as
How do central banks influence the economy? Every month since the last election we get reports Mulroney's 52.3%, but still managed to earn 2nd
The answer is, by controlling the availability of showing record high employment rates in Canada highest ever). The result was that Canada was
debt. If the economy over heats, they crank up the and increased unemployment in Alberta. The inflicted with a relatively light injury compared to
interest rates. In 1981 when the bank rate rose misconception is that dollars spent by the the other nations that do business with Wall Street.
above 21 per cent, the prime lending rate was government are a burden to a society. The With continued good management, Canada now
22.75 per cent in the attempt to curb the double- consequence of this Thatcherian myth is that the has the lowest unemployment in the 60+ years that
digit inflation. Canada's inflation rate had peaked actual economic benefits are not recognized. it has been measured.
at 11.25% and US inflation rose to 14.75%. Nurses, researchers, teachers, administrators and Alberta is just firing people while every real
Sustained high inflation kills social order … constabulary are all important to the economy. Not expert will show how this strategy will fail and has
nations fail! To prevent that, the money access is merely because they buy houses & cars, eat in always failed. What other alternatives are there?
tightened. restaurants and buy groceries, but because their How do we reduce the rate of growth of the deficit
This century has started out with very little stability buffers the economic up and downs of and still not develop double digit unemployment
concern about inflation. Today, we are skirting agriculture, construction and O&G. Politicians and and economic recession? The UCP need to
dangerously close recession for several reasons. the media are quick to mention the indirect abandon those ridiculous tax breaks for the
While it is fashionable to blame Canadian Prime employment benefits when the government profitable businesses. The province has to stop
Ministers and 16-year-old Swedish girls for bad announces a new mega project or, when a mill firing people and killing jobs. Kenney must wake
times, the truth is more about tariff wars, shifting closes in a small town. But the politicians suddenly up to the reality that more O&G development and
economies, technological innovations, Nationalism go quiet about the indirect employment when their more pipelines are not going to fix anything. We
and environmental collapse. For the moment, the policies start to unload jobs. must, instead, invest in infrastructure and education
only thing sustaining our tiny economic growth is The UCP policies will make Alberta a less to create a province of innovation instead of
consumer spending. The growth industries in this attractive place to move to. The advantage is gone. marching us down the road to 3rd world ruin.
decade are those that produce consumer products. It Crowded schools are not attractive. Closed wards
has become so important that consumers keep in the hospital are not attractive. Neither are lousy Peter E Ganter, Carrot Creek, AB
buying that the central banks keep interest rates highways, sparse police protection, degraded
very low (Europe is flirting with a negative interest environments or increased numbers of
rate… I confess, the concept makes my head hurt). homelessness. Corporations want amenities, culture PASSPORT PHOTOS & MORE
For now, it's Borrow! Borrow! Borrow! If we stop and infrastructure. Without these features, they will
Professional Digital
borrowing, the economy will crash. The economy leave. They'll still operate and exploit here, but Professional Digital
wants you to borrow. they'll headquarter someplace else. Passport System
Passport System
One example of the role that consumer spending We are in a transition period in Alberta, as are
photos ready
plays is Apple. In November 2019, the Bank of other regions that are heavily dependent upon O&G photos ready
America Merrill Lynch announced the “…earnings revenues. Others, such as Texas, Oklahoma, in minutes
in minutes
surge values the company at more than the entire Algeria, Norway, Russia and Azerbaijan are all while you wait...
while you wait...
US energy sector.” To restate, Apple is worth experiencing drastic reduction in earnings from
T
more than the entire US oil industry. The their O&G but are not as impacted because they The Weekly Anchorhe Weekly Anchor
companies that are thriving are those businesses have diversity. A few economies are hurting very
5040 3rd Avenue, Edson
that depend on consumer spending. Industry, oil badly because their economies were engineered to 5040 3rd Avenue, Edson
and manufacturing are struggling. For a hundred rely on O&G: Alberta, Saudi Arabia and Venezuela.
780-723-5787
years EXXON was the world's most powerful The Saudis have started to divest and are, for the 780-723-5787
corporation. Today, Apple holds the number one first time ever, selling off some of their state-owned
DROP IN AND SEE!ROP IN AND SEE!
position, with Amazon coming up fast. oil (November 2019) to invest more into D
THE WEEKLY ANCHOR MONDAY NOVEMBER 25, 2019 PAGE 11
MONDAY FEBRUARY 17
, 2020 PAGE 7
Student loan borrowers now able to apply online instead of paper
Dear friends, Our new red tape reduction strategy aims to
West Yellowhead MLA improve consultation for industry and Indigenous
I'm happy to see that the “deep freeze” many people. Our government takes the duty to consult
of us experienced over the past week has finally Martin Long very seriously. This duty is triggered when a
ended and that things are starting to warm up. I development project may adversely affect treaty
wanted to update you on some of the or Aboriginal rights, or cultural or harvesting
announcements we've made over the past week. practices. A revised version of The Government
Locally, here in West Yellowhead, I am excited of Alberta's Proponent Guide to First Nations and
to announce that the province and the Town of This week we announced a number of Metis Settlement Consultation Procedures will
Hinton partnered to construct the new complex initiatives to help reduce red tape and provide a clearer application process to improve
as part of a greater affordable housing administrative burdens. We streamlined our overall consultation and give industry and
development. Our government contributed $1 regulatory process for electricity providers to Indigenous communities more certainty when
million to the project, which will include nine carry out their winter construction plans. We also moving development projects forward.
affordable housing units, three of which are updated food regulations, which will create new Lastly, I would like to invite you all to attend
barrier-free. This is part of the Seniors and business opportunities for bed-and-breakfasts our Fair Deal Panel in conjunction with the
Housing Capital Plan, which includes $619 and will also help food banks serve Albertans residents in the Lac Ste. Anne – Parkland riding.
million over four years to deliver 2,700 new and more effectively. I am also excited to announce MLA Shane Getson and I will be hosting
regenerated affordable housing units while that student loan borrowers will now be able to constituents at the Diamond Centre in
maintaining 26,400 existing units. I'd like to apply online instead of via paper applications, Mayerthorpe on February 19 from 7:00 pm –
extend a big thank you and congratulations to starting February 7. This reduces regulatory 8:30 pm to discuss issues of national unity and
Happy Creek Estates, the Evergreens foundation barriers, and will also save taxpayers roughly how Alberta can get a fair deal from the Federal
and the Town of Hinton! $400,000 per year. Government.
IF soroka has a column Letter to the Editor:
put on this page too Writer asks if provincial spending restraints are good for Albertans
Is the Alberta government's spending restraint a The most recent Bank of Canada move was to agriculture / land reclamation to address climate
good thing for Albertans? You've probably heard
Gerald Soroka the seemingly clever statement, "We should run our of North Americans, already at record high levels, and to step up their aggressive purchasing of
change, to develop more alternative energy sources
hold steady on the lending rates. The personal debt
government finances like we run our personal
industry throughout the world. Because of
is creeping up. It might be expected that the central
MP Yellowhead finances." There is some truth in that statement. banks would increase the lending rate to curb this American intervention, Venezuela is merely
Most of us borrow money to buy our homes. Who potentially dangerous situation. They have not floundering with the largest oil reserves in the
doesn't? Some even get 2nd mortgages to renovate because they fear stalling the economic growth. world. Alberta? Alberta is just firing people.
them. A few people have to borrow to re-roof. The The North American economy is now debt driven. In 2008 Wall Street crashed the world economy
mortgages and the big repairs are the most obvious Our economic growth is dependent upon debt. Wall again. Canada survived, relative to almost every
examples of how our household finances use credit Street, Bay Street and the central banks are worried other nation around the world, unscathed with very
to function. that households are going to stop borrowing. They few foreclosures or governments ruined. The initial
The bigger picture is the role of debt from the fear recession. In the midst of this, our provincial buffer was afforded us because of the banking laws
perspective of the overall economy. Even personal government has decided to cut back, cut back and created by the governments of John Turner and
debt that leads to bankruptcy is acceptable for the cut back more. We are told that the cut backs in Brian Mulroney. Then, as that immunity started to
economy if the number of people doing it is not too spending are to reduce the deficit. The government wear off, Harper started spending money. The
high. Why? Because people are spending money of Alberta claims to not want to borrow. Harper government always overspent and increased
on goods and services. This policy will lead to higher unemployment. the national debt by 22.8% … (not as high as
How do central banks influence the economy? Every month since the last election we get reports Mulroney's 52.3%, but still managed to earn 2nd
The answer is, by controlling the availability of showing record high employment rates in Canada highest ever). The result was that Canada was
debt. If the economy over heats, they crank up the and increased unemployment in Alberta. The inflicted with a relatively light injury compared to
interest rates. In 1981 when the bank rate rose misconception is that dollars spent by the the other nations that do business with Wall Street.
above 21 per cent, the prime lending rate was government are a burden to a society. The With continued good management, Canada now
22.75 per cent in the attempt to curb the double- consequence of this Thatcherian myth is that the has the lowest unemployment in the 60+ years that
digit inflation. Canada's inflation rate had peaked actual economic benefits are not recognized. it has been measured.
at 11.25% and US inflation rose to 14.75%. Nurses, researchers, teachers, administrators and Alberta is just firing people while every real
Sustained high inflation kills social order … constabulary are all important to the economy. Not expert will show how this strategy will fail and has
nations fail! To prevent that, the money access is merely because they buy houses & cars, eat in always failed. What other alternatives are there?
tightened. restaurants and buy groceries, but because their How do we reduce the rate of growth of the deficit
This century has started out with very little stability buffers the economic up and downs of and still not develop double digit unemployment
concern about inflation. Today, we are skirting agriculture, construction and O&G. Politicians and and economic recession? The UCP need to
dangerously close recession for several reasons. the media are quick to mention the indirect abandon those ridiculous tax breaks for the
While it is fashionable to blame Canadian Prime employment benefits when the government profitable businesses. The province has to stop
Ministers and 16-year-old Swedish girls for bad announces a new mega project or, when a mill firing people and killing jobs. Kenney must wake
times, the truth is more about tariff wars, shifting closes in a small town. But the politicians suddenly up to the reality that more O&G development and
economies, technological innovations, Nationalism go quiet about the indirect employment when their more pipelines are not going to fix anything. We
and environmental collapse. For the moment, the policies start to unload jobs. must, instead, invest in infrastructure and education
only thing sustaining our tiny economic growth is The UCP policies will make Alberta a less to create a province of innovation instead of
consumer spending. The growth industries in this attractive place to move to. The advantage is gone. marching us down the road to 3rd world ruin.
decade are those that produce consumer products. It Crowded schools are not attractive. Closed wards
has become so important that consumers keep in the hospital are not attractive. Neither are lousy Peter E Ganter, Carrot Creek, AB
buying that the central banks keep interest rates highways, sparse police protection, degraded
very low (Europe is flirting with a negative interest environments or increased numbers of
rate… I confess, the concept makes my head hurt). homelessness. Corporations want amenities, culture PASSPORT PHOTOS & MORE
For now, it's Borrow! Borrow! Borrow! If we stop and infrastructure. Without these features, they will
Professional Digital
borrowing, the economy will crash. The economy leave. They'll still operate and exploit here, but Professional Digital
wants you to borrow. they'll headquarter someplace else. Passport System
Passport System
One example of the role that consumer spending We are in a transition period in Alberta, as are
photos ready
plays is Apple. In November 2019, the Bank of other regions that are heavily dependent upon O&G photos ready
America Merrill Lynch announced the “…earnings revenues. Others, such as Texas, Oklahoma, in minutes
in minutes
surge values the company at more than the entire Algeria, Norway, Russia and Azerbaijan are all while you wait...
while you wait...
US energy sector.” To restate, Apple is worth experiencing drastic reduction in earnings from
T
more than the entire US oil industry. The their O&G but are not as impacted because they The Weekly Anchorhe Weekly Anchor
companies that are thriving are those businesses have diversity. A few economies are hurting very
5040 3rd Avenue, Edson
that depend on consumer spending. Industry, oil badly because their economies were engineered to 5040 3rd Avenue, Edson
and manufacturing are struggling. For a hundred rely on O&G: Alberta, Saudi Arabia and Venezuela.
780-723-5787
years EXXON was the world's most powerful The Saudis have started to divest and are, for the 780-723-5787
corporation. Today, Apple holds the number one first time ever, selling off some of their state-owned
DROP IN AND SEE!ROP IN AND SEE!
position, with Amazon coming up fast. oil (November 2019) to invest more into D
