From: tdwebste@sparta.uwaterloo.ca (Timothy D. Webster)
Subject: Re: AAA credit rating downgraded
Organization: University of Waterloo
Date: Fri, 16 Oct 1992 00:21:58 GMT

I am pro Yes. Do not flame me for that, but lets discuss my assessment of
the likely coming events. Wayne your personal attack does nothing to
support your arguments. So next time just skip it!



In article <1992Oct15.193526.13835@julian.uwo.ca> wlsmith@valve.heart.rri.uwo.ca (Wayne Smith) writes:
>In article <Bw6DMo.Ht4@watserv1.uwaterloo.ca> dbowman@rainbow (Don A. Bowman) writes:
>>
>>[Front Page Financial Post]
>>
>>Canada's AAA credit rating has been, for the first time in history,
>>downgraded to AA+. This has just cost us as money must be borrowed at 8.7
>>instead of 7.7%.

>You blatently lied about why S&P lowered Canada's credit rating.  If
>Canada is going to be seen as a good place to invest, then we must get our
>finances in order.  We've had shitty, financially irresponsible and
>politically unaccountable politicians governing us for too long, and

And it is about time that the constitution be put behind us for a while
so that we can focus on our economy. 

Consider: No in CHQ, Yes Q
Perhaps we will have to go over this constitution one more time. Assuming
that Quebec will not sign on to the status quo of 198?. This will cost 
us because of time lost (not spent fixing our economy). The cost of
this case is minimal because I think most provinces are willing to be a
little flexible. Therefore the negotiation should not take long.

Consider: Yes in CHQ, No Q
We will definately have to enter into constitutional negotiations again.  :-(
I seem to recall Quebec asking for more this time, namely asymmetric
federalism. Lets not kid ourselves asymmetric federalism is not going to
work. (a house divided against itself will fall). By the same token
soventy(sp) association is no more likely to work. Lets just go for
complete separation. 
Please note, anybody who knows Canada's recent history might say things
are headed this way. By the way when this happens there will be no more
Canada. As an investor I would want my money recovered in the short term.
Canada has simply too much money borrowed to expect it all to be paid in
the short term.

Consider: No in CHQ, No Q
Two things are possible here. We enter into this never ending loop of
constitutional negotiations which lead to the same result as above. 
Or we decide that the constitution crise has been manufactured by our
incompetent politiicians. I think everyone outside of Quebec believes
this crise was manufactured, but what do the people in Quebec think.
If they also think this was manufactured. Our problems are over and we
can all sigh in relief. If the Quebec people really want the
constitutional questions answered now. Again see above.

>If there's a bigger laugh then their assurtions that this deal will be the
>end-all of negociations, it's that they will fix our financial trouble
>at the same time.

Our finacial problems are separate, but the sooner we start looking at the
causes, the sooner we can find solutions. Our current politions are
definately a problem -> solution don't elect them again. We need someone
like Russ Perol (sp) in Canada. But our navel gazing bickering is
another and it has to stop!

-Tim

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