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.