The Sir Robert Bond Papers: When the budget comes… #nlpoli

We’ve got a provincial government in Newfoundland and Labrador that has been budgeting for years to spend more than it brought in. Way back in the beginning, way before the oil money cut in suddenly and largely unexpectedly,  Loyola Sullivan said that people should expect the Conservatives to run deficits annually of half a billion ...

The Sir Robert Bond Papers: Always read the large print #nlpoli

The Conference Board of Canada released a report last week that assessed economic performance in each of the provinces in Canada. “The resource-driven economies of Alberta, Saskatchewan and Newfoundland and Labrador can boast A+ grades for their economic performance,” read the first sentence of the news release accompanying the report, titled How Canada Performs: Economy. ...

The Sir Robert Bond Papers: The Consumer Economy #nlpoli

It’s the sort of thing that leaps out at you.  As SRBP mentioned on Thursday, in her book Shopping for votes veteran political reporter Susan Delacourt put it in stark terms. Consumer spending has accounted for 60 to 70 percent of American gross domestic product since 1980.  In Canada, it’s been more like 52 to ...

The Sir Robert Bond Papers: Annual GDP Change #nlpoli

A release on Friday from Statistics Canada showed that the provincial economy shrank by almost 5% in 2012.  They even supplied a lovely chart to illustrate the GDP changes in each province as well as the national average. This wasn’t just modest growth or even a  modest drop.  We are talking one of only two ...

The Sir Robert Bond Papers: Funny how things come together #nlpoli

First, there’s a new post at the Monkey Cage that notes a discussion in economist circles about public discussions of economic subjects: … economics lost communication with policymakers and practitioners leaving room for all sorts of “charlatans and cranks” to fill the void. In doing so, academics ceded important ground to think tanks aligned with ...

The Sir Robert Bond Papers: Experts warn of external threats to recovery

Along with population statistics, here’s another one you can bet the current provincial Conservative crowd won’t be holding out quite as enthusiastically as the fabricated version of Bank of Canada’ governor’s remarks they were using until recently. As the Globe reported: Top policy makers indicated Wednesday that they are on heightened alert for a deeper ...

The Sir Robert Bond Papers: Harris Centre economic forum: the media coverage

The Telegram’s James Macleod had a decent front page summary of the Harris Centre’s discussion of economic issues facing the province and the subsequent discussion. The CBC has a super short version that is already bumped off the front page of its website in favour of stories like one on a baby bear in Terra ...

The Sir Robert Bond Papers: The looming debt problem

The government’s favourite economist is sounding alarm bells about the provincial government’s financial health.  The finance minister, on a local talk radio program, sounding stressed as more and more people start talking about what has been obvious to readers of this corner for some years now:  the provincial government is in a financial jam and ...

The Sir Robert Bond Papers: Locke warns of financial problems

Wade Locke’s been making the rounds of local media in advance of his talk tonight at the Harris Centre of Memorial University.  Your humble e-scribbler posted the details of it on Monday. Some quick observations on this Telegram version: There is nothing new in Locke’s presentation that hasn’t been in the public domain  – in ...

The Sir Robert Bond Papers: Building permits down in April

The value of building permits issued in the province in April fell by 16% compared to the same month in 2010 according to information released on Monday by Statistics Canada. Permits in April 2010 were valued at $94 million and $79 million in April 2011.  permit values in February 2011 were more than $85 million ...