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Alberta economy is about to nosedive...

 
PhilippinoBob

User ID: 16604126
Philippines
01/29/2013 07:34 PM
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Re: Alberta economy is about to nosedive...
The booming days of Alberta are not over yet but are getting uncomfortably close to the end.
Give it another 2 to 3 years and indeed the boom will be over.
Once Americans are out of Afganistan that's when the world economy will start choking.
PhilippinoBob
stinky1

User ID: 17905748
Canada
01/29/2013 07:35 PM

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Re: Alberta economy is about to nosedive...
...


You're a typical ass hat Calgarian. Bunch of Brokeback Cowboys down in Calgary these days.
Like I said... Calgarians think the good times will always be here and their shit don't stink.
 Quoting: ººEATºº


How many people that move to Alberta move to Edmonton? Nobody wants to live in that filthy degenerate city so they come to Calgary, the land of opportunity.

Edmontons glory days are long gone, Calgary is the new hub of success in Alberta.

Did you even read the articles? We're booming.

"CALGARY — Alberta’s economic boom is showing little sign of slowing down, according to the latest RBC Economics Provincial Outlook released Thursday.

RBC forecasts that Alberta will continue to be among the fastest-growing provincial economies in 2013 with a real GDP growth rate of 3.5 per cent, second only to Newfoundland & Labrador’s 4.4 per cent.

Alberta will regain the top spot in the country in 2014 with Real GDP growth forecast at 4.2 per cent."

fuckyou
 Quoting: CalmShock


Calgary is mostly white collar jobs. Edmonton is blue collar jobs.

When shit goes south Edmonton will find a way and Calgary will die off. Calgary has nothing going for it, other then banff and that generates a laughably small amount of income.
 Quoting: Anonymous Coward 1411797


When shit goes south? Shit is not going to go south anytime soon, as I've already provided links proving that.

People in Edmonton are jealous of Calgary. It's a sense of entitlement. Calgary left Edmonton in the dust and we also have a better hockey team.
 Quoting: CalmShock

Hey big nuts squirel, So we all know Alberta oil is full of Sulphur and because of extra processing costs to remove the sulphur, Alberta oil is worth half and a bit of west texas crude....ponder this, if you think the oil side of the o/g industry in alberta is so stable and productive then why our we (the gas side of the O/G industry) going bezerk drilling $15 000 000 horizontal wells with multi fracs trying to go after liquids???? Why do we spend so much money trying to recover condensate? Light oil? Because our oil sands oil is just about boarderline profitable. One hickup and you white color desk jockies that send guys like me new procedure and usless form after another are going to be demanding the Phillipinoes go home, you will want the job making sandwhiches at subway.
The us is our market for oil, they have a horrendous amount of oil in the us!
Anonymous Coward
User ID: 1139115
Canada
01/29/2013 07:37 PM
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Re: Alberta economy is about to nosedive...
Alberta was the engine of the Canadian economy over the last decade.
It is clear that the good times are over now!
The 500,000 dollar houses in Edmonton are about to slip down to 300,000 before ya know it. There will be many 'toys' for sale at bargain prices here in Alberta ( quads, rv's, boats, snowmobiles,etc ).

Alberta has way overspent during the last 10 years and the chickens are coming home to roost.
Frivilous businesses will be going broke in droves over the next few years. Just watch how many of the coffee shops and restaurants here in Edmonton will close their doors this year.
 Quoting: ººEATºº


why? --- is the price of oil going down to $70.

BTW---gov, always overspend
and as long as the government lets the private sector get the oil and stays the hell away from any important efficiency decisions, there is not going to be any bust in Alberta
CalmShock

User ID: 5056346
Canada
01/29/2013 07:41 PM
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Re: Alberta economy is about to nosedive...
...


You guys down in Calgary are in for the shock of your life. Calgary has changed... Calgary thinks it is 'invincible'. Calgary is delusional if you ask me. Calgary is going to fall the hardest because it went the highest the fastest. Wonder what your Muslim mayor will do when everyone is crying?
 Quoting: ººEATºº


Yeah, that has about as much of a chance of happening as an 8.1 earthquake.

As for the mayor... I didn't vote for him.

[link to www.edmontonsun.com]

[link to www.calgaryherald.com]

[link to www.infoport.ca]

You're no longer welcome in Alberta EAT. Pack your shit and get your pessimist attitude out of here.

comatose
 Quoting: CalmShock


You're a typical ass hat Calgarian. Bunch of Brokeback Cowboys down in Calgary these days.
Like I said... Calgarians think the good times will always be here and their shit don't stink.
 Quoting: ººEATºº


Hey Eat congrats to starting a smart thread. I usually wish you'd drop dead with your stupid threads but this is a good one. I'm with you. We are screwed. I'm in GP. This town and others where the drilling and gas plants are is where the moneycomes from. Calgary is a massive nothing burger. Imigrants and useless office people in sky rises working for the american owned o/g companies. Calgary will be zombie ville as half of those office jobs are redundant. We saw that in 2008, the panic. I visited my family in calgary in 08 and it was panic city, everyone was talking and paranoid. The squirl with the big nuts is a R'tard. Probably drives a Mercedes SUV. Just came from the rv show in gp. 70 thousand dollar ski boats, the idiots don't have property or the means to feed themselves.
Once the cascading collapse sets in there is no turning back. When the interest rates go up or like you say Australia's oil field starts producing we are done. The u.s. will not need our sulphur rich and cheap oil soon either, They have abundant oil. We got nothing in Alberta but the o/g industry and everyones maxed out in this false Utopia. I have been in the o/g industry for 15 yrs my opinions are more valid than the squirels. Any upset and it's lites out for Alberta. We are on the edge. If you look at the numbers and according to a candian per capita statistic our canadian debt situation is only half of what the u.s. has. The burp and we are screwed. The Phillipinoes will be heading home looking for work.Canadian F
 Quoting: stinky1


So your argument is that our oil will become worthless?

Calgary is a nothing burger because we don't have property or a means to feed ourselves?

You live in Grand Prairie, it's no fucking wonder you can't afford a 70k ski boat.

15 years in the oil and gas industry (probably a rig pig) doesn't make you an economic savant. I'm not saying that there won't be hiccups (that being said, they won't be in the near future) but it sounds like you're expecting a total collapse. That's unrealistic and shows that you're the "r'tard" in this case.
Patience is a virtue I just can't wait to achieve - CalmShock
CalmShock

User ID: 5056346
Canada
01/29/2013 07:54 PM
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Re: Alberta economy is about to nosedive...
I agree that eventually we will need to find new markets for our oil, but that's a long ways down the road.
The US is at least 25 years away from becoming energy independent.

Once the new pipeline is completed, production will skyrocket.

" As of November 2011, the 101 oil sands projects in Alberta were producing about 1.3 million barrels of oil a day. Once new projects come on stream, production will increase to 3.5 million barrels a day in 2020 and 5 million barrels a day in 2030, oil industry executives say."
Patience is a virtue I just can't wait to achieve - CalmShock
Anonymous Coward
User ID: 12064276
United States
01/29/2013 08:08 PM
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Re: Alberta economy is about to nosedive...
bank of canada balance sheet has been quietly growing, trying to catch up to other central banks
[link to www.zerohedge.com]
Anonymous Coward
User ID: 1411797
Canada
01/29/2013 08:09 PM
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Re: Alberta economy is about to nosedive...
Our coal mines are slowing down in Alberta.

It's becoming too expensive too mine it as well as coal isnt fairing well in the market.
Anonymous Coward
User ID: 1461054
United States
01/29/2013 08:10 PM
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Re: Alberta economy is about to nosedive...
Lies. back it up
 Quoting: Anonymous Coward 8943526


Back up the truck.
 Quoting: ººEATºº


Sorry to seeyoureheadedwhereweare going.
Anonymous Coward
User ID: 24537691
Canada
01/29/2013 08:26 PM
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Re: Alberta economy is about to nosedive...
I agree with you OP things here in Alberta aren't quite as rosy as people might think. Our government has projected that we will be in the red to the tune of 4-6 billion dollars this past fiscal year as opposed to the 1.5 billion surplus that was projected before the election. Buckle up it's gonna get bumpy kids.
 Quoting: Anonymous Coward 13014207


Alberta & Albertans way overspent. I know of many Albertans who bought property down south during this last boom. The money came from their home equity.
Just pay attention to all the business that will close over the next 3 months... just watch.
 Quoting: ººEATºº


Yup. If interest rates go up even 1% you will be able to get yourself some cheap toys on kijijji during break-up this spring. I think I would like a new quad this year. How bout you?
 Quoting: Anonymous Coward 13014207


This week it was announced that TD and a few other major CDN banks had their credit ratings cut from AAA to AA. That means it will get more expensive for them to borrow money. That means they will have to raise interest rates to compensate.
Interest rates in Canada will be going up this year! We don't have a Federal Reserve like the USA that can print an unlimited amount of money....
 Quoting: ººEATºº


The downgrade is the result of Canadians borrowing less.
We were in over our heads and now our credit rating is taking a hit for the correction.

The banks will take a profit hit as a result of Canucks paying down their debt.
Anonymous Coward
User ID: 31962559
Canada
01/29/2013 08:30 PM
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Re: Alberta economy is about to nosedive...
if the price of oil stays where it is or goes up things should be ok. the housing market is retarded all across canada you should see the prices in downtown vancouver and toronto.
keystone is back on
the oil in alberta and the industry in ontario is what fuels the canadian economy. newfoundland has a lot of oil too. pretty much all the oil goes to the usa at discounted prices, still high enough to keep even the oilsands going
Canadian_Bacon

User ID: 25711532
Canada
01/29/2013 08:44 PM

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Re: Alberta economy is about to nosedive...
EAT, you're almost as bad at predicting the economy as you are at predicting earthquakes.

[link to www.theglobeandmail.com]


I live in Calgary and the housing market is expected to strengthen considerably over the next couple years.

The oil sands are creating a new boom.

You're just a fear monger and likely mildly retarded.
 Quoting: CalmShock


You guys down in Calgary are in for the shock of your life. Calgary has changed... Calgary thinks it is 'invincible'. Calgary is delusional if you ask me. Calgary is going to fall the hardest because it went the highest the fastest. Wonder what your Muslim mayor will do when everyone is crying?
 Quoting: ººEATºº


Calgarians are the biggest jackasses of Canada.
 Quoting: Anonymous Coward 1411797


Let me guess, your from ontario?
Fucking assclown!
You can't fix stupid! ~ Ron White
Canadian_Bacon

User ID: 25711532
Canada
01/29/2013 08:48 PM

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Re: Alberta economy is about to nosedive...
EAT, you're almost as bad at predicting the economy as you are at predicting earthquakes.

[link to www.theglobeandmail.com]


I live in Calgary and the housing market is expected to strengthen considerably over the next couple years.

The oil sands are creating a new boom.

You're just a fear monger and likely mildly retarded.
 Quoting: CalmShock


You guys down in Calgary are in for the shock of your life. Calgary has changed... Calgary thinks it is 'invincible'. Calgary is delusional if you ask me. Calgary is going to fall the hardest because it went the highest the fastest. Wonder what your Muslim mayor will do when everyone is crying?
 Quoting: ººEATºº


Hey EAT, the best part about it is that even if calgary were to fall, we would still be better than the ignorant, dirty smelly city know as Edmonton!
You can't fix stupid! ~ Ron White
Anonymous Coward
User ID: 7984224
Canada
01/29/2013 08:52 PM
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Re: Alberta economy is about to nosedive...
There is economic fear in the air in Alberta right now. Big time. As goes Alberta so goes Canada. That is why many of Canada's top banks were downgraded this week. The economic storm is here!
 Quoting: ººEATºº


Yup, all true..
stinky1

User ID: 17905748
Canada
01/29/2013 08:53 PM

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Re: Alberta economy is about to nosedive...
...


Yeah, that has about as much of a chance of happening as an 8.1 earthquake.

As for the mayor... I didn't vote for him.

[link to www.edmontonsun.com]

[link to www.calgaryherald.com]

[link to www.infoport.ca]

You're no longer welcome in Alberta EAT. Pack your shit and get your pessimist attitude out of here.

comatose
 Quoting: CalmShock


You're a typical ass hat Calgarian. Bunch of Brokeback Cowboys down in Calgary these days.
Like I said... Calgarians think the good times will always be here and their shit don't stink.
 Quoting: ººEATºº


Hey Eat congrats to starting a smart thread. I usually wish you'd drop dead with your stupid threads but this is a good one. I'm with you. We are screwed. I'm in GP. This town and others where the drilling and gas plants are is where the moneycomes from. Calgary is a massive nothing burger. Imigrants and useless office people in sky rises working for the american owned o/g companies. Calgary will be zombie ville as half of those office jobs are redundant. We saw that in 2008, the panic. I visited my family in calgary in 08 and it was panic city, everyone was talking and paranoid. The squirl with the big nuts is a R'tard. Probably drives a Mercedes SUV. Just came from the rv show in gp. 70 thousand dollar ski boats, the idiots don't have property or the means to feed themselves.
Once the cascading collapse sets in there is no turning back. When the interest rates go up or like you say Australia's oil field starts producing we are done. The u.s. will not need our sulphur rich and cheap oil soon either, They have abundant oil. We got nothing in Alberta but the o/g industry and everyones maxed out in this false Utopia. I have been in the o/g industry for 15 yrs my opinions are more valid than the squirels. Any upset and it's lites out for Alberta. We are on the edge. If you look at the numbers and according to a candian per capita statistic our canadian debt situation is only half of what the u.s. has. The burp and we are screwed. The Phillipinoes will be heading home looking for work.Canadian F
 Quoting: stinky1


So your argument is that our oil will become worthless?

Calgary is a nothing burger because we don't have property or a means to feed ourselves?

You live in Grand Prairie, it's no fucking wonder you can't afford a 70k ski boat.

15 years in the oil and gas industry (probably a rig pig) doesn't make you an economic savant. I'm not saying that there won't be hiccups (that being said, they won't be in the near future) but it sounds like you're expecting a total collapse. That's unrealistic and shows that you're the "r'tard" in this case.
 Quoting: CalmShock


Where did I write our oil will be worthless? Everything has a value. Gas will ALWAYS be in demand unless our buildings built in this frozen land of ice and snow are converted to another source for heat other than methane. Yes Calgary is a nothing burger you produce nothing, half the jobs in the sky rises are not required. It is the people at the wellheads that are responsible for the production. they are more likely to be employed in another collapse as in 08 when Encana and other's were doing mass layoffs. Yes if you do not have property and skills to grow food and produce things in a rural setting you will turn to canabalism. As the people in the cities like calgary can no longer put gas in the BMW suv's to get to banff they will turn to a bankrupt goverment for assistance, they will turn on each other. There is always a truth to repetative conditioning, why do you suppose we keep getting bombarded with a Zombie theme of chaos from various government bodies. You city folk are brain dead living in a fantasy world always competeing with each other for useless crap.

Please explain your comment about gp and no fucking wonder I can't afford a $70 000 ski boat, You brain dead comment varifies my point of you city folks wantingand collecting usless junk. Do you have a $70 000 ski boat? You speculate I'm a "rig pig" So what do you do Poindexter? let me guess you put together erp's or are a safety advisor for a company like Conoco? Nervous much?

You are aware that "rig pigs" make between $140 000 and $250 000 a year. I am not a rig pig and know that my common position in the field pays $40-$50000 more a year than you office jockies.

YES that is correct R'tard! a total an utter economic collapse for Alberta. We have nothing else but farming here in Alberta. It will be a cut throat society. Those $70 000 ski boats will be a dime a dozen. My rural brethran will trade you a 25 lb sac of potatoes for an hour with your silicone chested and tatooed wife in the back seat of your imported 400hp SUV.stfu
Anonymous Coward
User ID: 1411797
Canada
01/29/2013 08:59 PM
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Re: Alberta economy is about to nosedive...
EAT, you're almost as bad at predicting the economy as you are at predicting earthquakes.

[link to www.theglobeandmail.com]


I live in Calgary and the housing market is expected to strengthen considerably over the next couple years.

The oil sands are creating a new boom.

You're just a fear monger and likely mildly retarded.
 Quoting: CalmShock


You guys down in Calgary are in for the shock of your life. Calgary has changed... Calgary thinks it is 'invincible'. Calgary is delusional if you ask me. Calgary is going to fall the hardest because it went the highest the fastest. Wonder what your Muslim mayor will do when everyone is crying?
 Quoting: ººEATºº


Calgarians are the biggest jackasses of Canada.
 Quoting: Anonymous Coward 1411797


Let me guess, your from ontario?
Fucking assclown!
 Quoting: Canadian_Bacon


Nah I'm Alberta. And point proven.
Anonymous Coward
User ID: 7984224
Canada
01/29/2013 09:13 PM
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Re: Alberta economy is about to nosedive...
My husband works in the oilfield (not as an office jockey either LOL) and exploration is slowing down substantially.

He's been busy as he has many years experience BUT there will be lots of toys up for sale come spring by these young guys that couldn't hang on to the money they were making.

Having gone through patch slow downs a few times this one could be far worse than any previous.. If people were smart they would only buy what they need and put money away but they won't. Guess they will learn the hard way!
texmich

User ID: 11346886
United States
01/29/2013 09:13 PM
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Re: Alberta economy is about to nosedive...
As long as yall continue to roll out that Crown Royal, yall are ok in this texas guys book!!! Canadian F drunk Go Canada!!!!
Mordier L'eft

User ID: 33147770
Canada
01/29/2013 09:18 PM
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Re: Alberta economy is about to nosedive...
the boom will eventually move to manitoba

there's loads of oil here, it's just not being exploited yet.

north dakota is already slant drilling into our deposits, but we've much more than what they can reach.

they're just waiting. give it 15 years or so.

Last Edited by Mordier L'eft on 01/29/2013 09:18 PM
--"In this era of great big brains anything that can happen will. So hunker down." -- Kurt Vonnegut, JR. -- Galapagos.
MHz

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Canada
01/29/2013 09:22 PM
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Re: Alberta economy is about to nosedive...
The trend last year was the main work in the patch was servicing and cleaning up existing and abandoned wells with very few new leases being built, not in every area but overall. Fox Creek is enjoying a little boom but 10 other locations (like FtMac) were finished their summer work projects in September rather than December as it was the year before.

That $500k house was probably only worth $250 anyway.
CalmShock

User ID: 5056346
Canada
01/29/2013 09:31 PM
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Re: Alberta economy is about to nosedive...
...


You're a typical ass hat Calgarian. Bunch of Brokeback Cowboys down in Calgary these days.
Like I said... Calgarians think the good times will always be here and their shit don't stink.
 Quoting: ººEATºº


Hey Eat congrats to starting a smart thread. I usually wish you'd drop dead with your stupid threads but this is a good one. I'm with you. We are screwed. I'm in GP. This town and others where the drilling and gas plants are is where the moneycomes from. Calgary is a massive nothing burger. Imigrants and useless office people in sky rises working for the american owned o/g companies. Calgary will be zombie ville as half of those office jobs are redundant. We saw that in 2008, the panic. I visited my family in calgary in 08 and it was panic city, everyone was talking and paranoid. The squirl with the big nuts is a R'tard. Probably drives a Mercedes SUV. Just came from the rv show in gp. 70 thousand dollar ski boats, the idiots don't have property or the means to feed themselves.
Once the cascading collapse sets in there is no turning back. When the interest rates go up or like you say Australia's oil field starts producing we are done. The u.s. will not need our sulphur rich and cheap oil soon either, They have abundant oil. We got nothing in Alberta but the o/g industry and everyones maxed out in this false Utopia. I have been in the o/g industry for 15 yrs my opinions are more valid than the squirels. Any upset and it's lites out for Alberta. We are on the edge. If you look at the numbers and according to a candian per capita statistic our canadian debt situation is only half of what the u.s. has. The burp and we are screwed. The Phillipinoes will be heading home looking for work.Canadian F
 Quoting: stinky1


So your argument is that our oil will become worthless?

Calgary is a nothing burger because we don't have property or a means to feed ourselves?

You live in Grand Prairie, it's no fucking wonder you can't afford a 70k ski boat.

15 years in the oil and gas industry (probably a rig pig) doesn't make you an economic savant. I'm not saying that there won't be hiccups (that being said, they won't be in the near future) but it sounds like you're expecting a total collapse. That's unrealistic and shows that you're the "r'tard" in this case.
 Quoting: CalmShock


Where did I write our oil will be worthless? Everything has a value. Gas will ALWAYS be in demand unless our buildings built in this frozen land of ice and snow are converted to another source for heat other than methane. Yes Calgary is a nothing burger you produce nothing, half the jobs in the sky rises are not required. It is the people at the wellheads that are responsible for the production. they are more likely to be employed in another collapse as in 08 when Encana and other's were doing mass layoffs. Yes if you do not have property and skills to grow food and produce things in a rural setting you will turn to canabalism. As the people in the cities like calgary can no longer put gas in the BMW suv's to get to banff they will turn to a bankrupt goverment for assistance, they will turn on each other. There is always a truth to repetative conditioning, why do you suppose we keep getting bombarded with a Zombie theme of chaos from various government bodies. You city folk are brain dead living in a fantasy world always competeing with each other for useless crap.

Please explain your comment about gp and no fucking wonder I can't afford a $70 000 ski boat, You brain dead comment varifies my point of you city folks wantingand collecting usless junk. Do you have a $70 000 ski boat? You speculate I'm a "rig pig" So what do you do Poindexter? let me guess you put together erp's or are a safety advisor for a company like Conoco? Nervous much?

You are aware that "rig pigs" make between $140 000 and $250 000 a year. I am not a rig pig and know that my common position in the field pays $40-$50000 more a year than you office jockies.

YES that is correct R'tard! a total an utter economic collapse for Alberta. We have nothing else but farming here in Alberta. It will be a cut throat society. Those $70 000 ski boats will be a dime a dozen. My rural brethran will trade you a 25 lb sac of potatoes for an hour with your silicone chested and tatooed wife in the back seat of your imported 400hp SUV.stfu
 Quoting: stinky1


You can keep her for a 10lbs sac.

invalid

And no, I'm not an office jockey so I little to fear from mass layoffs. The money is in Calgary and since I run a trade business, business is booming. I respect the rural lifestyle and see myself moving away from the city in the near future, but the reality is that this is the land of opportunity and why not take advantage while the getting is good? The utter economic collapse you're so sure of isn't anywhere in the foreseeable future. Cannibalism however, is already quite popular and gaining momentum.
Patience is a virtue I just can't wait to achieve - CalmShock
ººEATºº (OP)

User ID: 1355215
Canada
01/30/2013 12:36 AM
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Re: Alberta economy is about to nosedive...
...


You guys down in Calgary are in for the shock of your life. Calgary has changed... Calgary thinks it is 'invincible'. Calgary is delusional if you ask me. Calgary is going to fall the hardest because it went the highest the fastest. Wonder what your Muslim mayor will do when everyone is crying?
 Quoting: ººEATºº


Yeah, that has about as much of a chance of happening as an 8.1 earthquake.

As for the mayor... I didn't vote for him.

[link to www.edmontonsun.com]

[link to www.calgaryherald.com]

[link to www.infoport.ca]

You're no longer welcome in Alberta EAT. Pack your shit and get your pessimist attitude out of here.

comatose
 Quoting: CalmShock


You're a typical ass hat Calgarian. Bunch of Brokeback Cowboys down in Calgary these days.
Like I said... Calgarians think the good times will always be here and their shit don't stink.
 Quoting: ººEATºº


Hey Eat congrats to starting a smart thread. I usually wish you'd drop dead with your stupid threads but this is a good one. I'm with you. We are screwed. I'm in GP. This town and others where the drilling and gas plants are is where the moneycomes from. Calgary is a massive nothing burger. Imigrants and useless office people in sky rises working for the american owned o/g companies. Calgary will be zombie ville as half of those office jobs are redundant. We saw that in 2008, the panic. I visited my family in calgary in 08 and it was panic city, everyone was talking and paranoid. The squirl with the big nuts is a R'tard. Probably drives a Mercedes SUV. Just came from the rv show in gp. 70 thousand dollar ski boats, the idiots don't have property or the means to feed themselves.
Once the cascading collapse sets in there is no turning back. When the interest rates go up or like you say Australia's oil field starts producing we are done. The u.s. will not need our sulphur rich and cheap oil soon either, They have abundant oil. We got nothing in Alberta but the o/g industry and everyones maxed out in this false Utopia. I have been in the o/g industry for 15 yrs my opinions are more valid than the squirels. Any upset and it's lites out for Alberta. We are on the edge. If you look at the numbers and according to a candian per capita statistic our canadian debt situation is only half of what the u.s. has. The burp and we are screwed. The Phillipinoes will be heading home looking for work.Canadian F
 Quoting: stinky1


Well said.
Redford looks scared. She will be looking under every couch in Alberta to scrounge for money now.
China is going to pour big money into the massive new Australian oil field and laugh at Alberta now. Our oil is dirty and expensive and far away from China compared to what Australia has to offer now.
Calgary is FULL of speculators. Real estate prices there are just plain stupid. The work force there are pencil pushers and white collar sushi eaters. Edmonton's work force are blue collar and very essential. We are a meat and potato city and proud of it. Big Ukrainian, Polish and German roots here with a strong work ethic and a survivalist mentality.
Edmonton has great natural resources, most importantly the North Saskatchewan river that flows thru the city. Calgary has the tiny little Bow river as their main water supply.
People overspent here in Alberta and did not plan for the bad times. The feast is over and it's famine time... and if you did not save for the rainy days ahead... well...you are in trouble.

The only thing that will save Alberta now are a massive middle east war that shoots the price of oil sky high... or a subduction earthquake on the west coast that forces Vancouverites to move out of BC.

I wish Alberta would have diversified better when the going was good... oh well.
In the end it doesn't even matter...

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