Morbid optimism

You have got to appreciate the widespread optimism you see in New Brunswick papers about our economy. I remember not that long ago former Premier Frank McKenna lamenting how negative the local newspapers were on the economy.

That was then, this is now.

Now this, admittedly is a fairly innocuous CP article on a new BMO economic forecast for the Canadian provinces. But coupled with all the propaganda crap coming out of PNB, I guess my sensitivity level is way up there.

Here’s what I took away from the BMO report:

NB’s GDP growth was worse than the Canadian every every year since 2003 – and projected to be lower for the next two years.

Employment growth worse all but two of the six years.

Retail sales growth worse every year.

But just in case you like to be at the top of the heap, inflation in New Brunswick was/will be higher than the Canadian average for 4 of the 6 years.

It’s almost like economics reporters have had a spell cast on them by the Wicked Witch of the Transcript which disallows any unfavourable statistics as long as a Tory reigns in Fredericton.

I use my parents as a test case for this. They read actually the Fredericton paper on a daily basis and watch the local news. They think things are doing very well under our highly paid Premier.

This entry was posted in Uncategorized. Bookmark the permalink.

0 Responses to Morbid optimism

  1. Anonymous says:

    You have to remember who these people are though. For example, the Saint John Board of Trade has been ecstatic about ‘how wonderful things are’. No doubt there are plenty of Irvings on that board.

    However, that will all begin to change and I suspect it will begin to even infect the Irving papers, if only in the letters to the editor section.

    WHy? One simple reason. What conference held recently in St. John is BMO a prime sponsor of? Of course the BMO is going to spout gloom and doom, economics is hardly an exact science. That doesn’t mean they are far off the mark, but the idea of Atlantica isn’t going to sell if everything is as wonderful as industry and government proclaim.

    Nobody is going to get on board Atlantica unless they think times are tough and the status quo won’t cut it. I don’t predict Bernie will sing that tune, his hold on power is too tenuous, but Graham, who knows.
    But you can well expect a lot of pressure on Irvings media from other irving companies who want to bring in Atlantica to change their tune. That will be tough because Lord has been so damn good to them, bending over at every opportunity.