Seismic Shifts

Gradually Then Suddenly Great Moments In Socialism It's Probably Nothing 24 Comments

Despite all the hoopla about debt-driven GDP growth as a sign of a booming economy, the real economy apparently didn’t get that memo from the Keynesians. Shrinking business investment means less demand for basic commodities like oil.

They were about to get some life-changing news. Their employer, a major oil producer almost as old as Canada, was going to reveal a dramatic shift in strategy. Imperial would be selling its sprawling headquarters in Calgary, cutting hundreds of jobs and potentially outsourcing many of those positions overseas.

One worker said they had suspected something was up, but nothing that seismic.

24 Replies to “Seismic Shifts”

  1. first off, ‘debt driven’ gdp growth.
    uhuh. aaaaaaand for that to work the gdp growth must MUST cover every nickel of the debt, correct?
    or you now have yet another economic ‘spiral’. then what?? pile on more debt until the ultimate reset aka world wide hyperinflation. jist sayin’ . . . . .

  2. Champagne corks popping in the PMO as Carnage and his staff celebrate

    A reminder: Mark Carnage owns shares in:
    – ExxonMobil
    – EOG resources
    – Chevron
    – ConocoPhillips
    – Hess
    – Occidental
    – Valero

    Carnage does not own shares in:
    – Imperial Oil
    – Tourmaline
    – Suncor
    – Enbridge
    – TC Energy
    –

  3. As for a “local angle” … it’s good timing for the city (though obviously not for those who are being laid off), we’re two weeks from a municipal election though it can’t be certain that this will make a difference in those who “vote for more stuff” regardless of what people like Butler the angry mortgage broker has to say. Warning lights all over the place, some of the warning lights have been blinking since 2020 as they’re broken, and a leftist mayoralty candidate is still ahead here. He doesn’t say he’s a leftist, but his supporters are very much from the NDP.
    https://www.youtube.com/@angrymortgage

    1. Question for “Marc in Calgary” …

      The West is seen from Eastern Canada as conservative , independent and entrepreneurial in spirit , so how do the likes of the NDP and Nenshi come to power in such a climate … or like here in Ontario are there many more “takers” than “contributors” who actually vote?

      1. When the NDP gained gov’t in AB, in 2015, the right’s vote was divided between the Progressive Conservatives and the Wildrose Party… the current Premier Smith had led a group of MLA’s to leave the PC’s to join with the Wildrose but it wasn’t enough to persuade the populace to all vote for WR as the PC’s were still in the game. The NDP essentially won for the same reasons Jean Chretien’s @Libranos won 3 majorities in a row while the Reform and Alliance had taken votes from the federal PC’s. Vote splitting. Same reason that Bill Clinton won twice in the USA as well… When the right united, they won the majority again.

        I can’t make sense of Nenshi’s win in Calgary except to opine that there is a large ethnic group which votes united for “their candidate” and this carried on to current mayor Jyoti Gondek. There are a couple of left leaning candidates in this election, yet the right may still lose this one. People seem to like voting for “getting more stuff” even while all the traditional voting parameters like violent street crime, higher taxes, crumbling infrastructure, have all risen as well. Perhaps some here see that rising as a result of recent immigration numbers. All schools enrollments are swelled with kids who can’t speak normal English, I couldn’t imagine trying to teach kids these days. I simply wouldn’t, and I’d continue to blame the federal gov’t for almost everything wrong with Canada today.

        I think if mayoralty elections were able to include a slate of candidates aligned with a particular party, they’d do better against a leftist hoard of candidates, though the same may be said for the left as well, having only 1 NDP mayoralty candidate could focus voting on that one as well… I thought AB had figured this out but apparently not. The Calgary Police Association (the union?) has thrown support behind the Communities First slate of candidates and Sonya Sharp for Mayor.
        Which is also supported by folks like W.Brett Wilson…

        https://communitiesfirstyyc.com

  4. It’s more like deficit driven GDP growth. Borrowing from the future to cover the present. Question is “How long can you borrow from the future”? The answer seems to be indefinitely based on the way Canadians vote.

    2. Canada is already at 111% debt to gdp ratio, unless you want to count all the assets of the government that can’t be used to cover the debt, and you get a lower net debt to gdp ratio.

  5. That’s a tough day for those Imperial people.

    There is nothing booming aboot the Canadian economy.
    Elbows Up Libtards might pretend its great, but many of those assholes are retired.
    For me, the unemployment rate is important and its shitty, especially for males aged 15-24.
    Carney the Spanker can fckoff.

  6. Where’s Marmot when you need him? He’s actually worked seismic shifts! Yes, I know I’ve used this joke before. Seismic shifts are part of my wardrobe, and this is how I recycle them.

        1. To be precise, Shiller Marmote is pickin’ up them good vibrations.
          Bitch Boy, not a Beatle.
          Twist and shout, we gotta work it on out…

  7. “The problem with socialism is that you eventually run out of other people’s money.” – Margaret Thatcher

  8. Brings back memeories of 1981 when the oil business last collapsed in a heap. Sent me from field work in Saskatchewan back to school and on the paper industry.
    Sad this is happening when oil prices are fairly stable.

    1. There is nothing stopping the Liberal Government from putting Canada Post into bankruptcy, other than the political will to do so.

      1. Purolater is doing something right. Canada Post not so much.
        How about switching all the posties to the armed forces.
        Throw in Goebbels-CBC as propagandists military intelligence communications.
        Voila there’s a few $B to 2% NATO commitment.

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