Sunday, September 21, 2008

4 Headlines

Just scanning the web today looking at the news for Edmonton, Alberta and the economic outlook for the province and the city. It's funny I found four headlines that would leave anyone baffled as to what is really going on. It just goes to show you have to research for your own opinion and if you are reading only one newspaper your information is going to be skewed.

1. Alberta's economy slower but still better than the rest of Canada: TD economist - "I think Alberta and the rest of Canada will do a bit better next year but probably in the case of Alberta only back to [growth of] about two and a half per cent. But that's consistent with what I said last year. A slowdown in growth but not a bust."Don Drummond, the senior vice-president and chief economist of TD Bank

It's positive shows that Alberta is leading the country in performance though everywhere there is a slowdown.

2. Confidence in Alberta economy waning: Survey - "Alberta companies are less optimistic than they were at the height of the province's boom, but most still believe their business will increase in the last three months of 2008, said the ATB Financial Business Sentiments Index."

Slightly negative but it's a survey so based on perception. I guess the Alberta companies missed the above article about the national economic slowdown.

3. Saskatchewan Advantage snags torch from Alberta - ".. it is how our neighbours in Saskatchewan feel as their economy lifts off; their quality of life remains something Calgarians and Edmontonions can only envy; and their premier travels across North America extolling the virtues of his province to obviously appreciative audiences.
By comparison we're stuck in an economic deceleration that is exacerbating -- not mitigating some of our most severe issues -- while raising new concerns about what the province's economy will look like when we've finished "readjusting."

Negative? So often it's hard to tell. The journalist does point out the Alberta has zero provincial debt and is a emerging global superpower. Saskatchewan will lead the nation in some economic areas but in no way has the economy that Alberta does. Beyond that between 2009 and 2012, Calgary and Edmonton are expected to regain first and second place in average annual growth.

4. Look up Calgary! Edmonton is the new powerhouse - "The TD Bank recently came out with a study that concluded if the Edmonton/Calgary corridor was its own country, it would today be one of the most successful economies in the world, second only to Luxemburg in terms of GDP per capita."

Positive! Imagine two cities in Alberta, Canada having one of the most successful economies in the world? It baffles the mind and puts Saskatchewan into perspective. I want to email this story to all the despondent business owners in Alberta.

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