The Life of Brian

When this blog was started out quite a few months ago, a cluster of us came to be known as the “Baby Bloggers”. Inspired by the likes of The Black Rod and Hacks and Wonks, we decided to try to add our voices to the political, economic and social banter happening on the local scene. With the advent of a new crop of bloggers, it seems we noobs of yesterday are moving into the adolescent phase. One brand new blogger in particular, Brian of Just Damn Stupid seems to be lighting up the comments section over at The Andy Fletcher Show.

Brian seems to make some interesting points in favour of the NDP status quo. Let’s check some of his assertions:

12). Greg Selinger has delivered seven consecutive balanced budgets, with tax breaks.

These budgets were balanced in part due to raids on Manitoba Hydro and thanks to transfer payment windfalls from the federal government. If a young family solves their spending problems by taking money from their children AND their parents to pay their bills, they can lay no claim to being fiscally responsible. Neither can the NDP.

2) Venture Capital Funds do not always make money. They are “risk” investments. Investors are made aware of this when they purchase shares.

Brian, I agree 100%. However, the fact that Crocus had a holding period of 7 years is an important consideration vis-à-vis a prospective purchaser’s investment strategy. As such, why would it make sense for some pensioners to invest in a high risk, long term instrument with a generous tax deduction as its most compelling feature? Crocus would ordinarily be best suited OUTSIDE of a pension context, unless it formed a small percentage in the pension portfolio as “risk capital”. The issue of whether or not TRAF was embroiled with Crocus representatives in the name of a sincere effort at portfolio diversification and not merely for political purposes is also one of the questions a public inquiry into Crocus should answer. While investors should ACCEPT the risky nature of Crocus, no one should be expected to tolerate the antics of the NDP in the mismanagement of the Crocus file.

My favourite part reads as follows:

Gary. My house is actually worth something today. I can get into the hospital, not just the hallway. I can find a job. I’m paying less in taxes. I'm getting another Autopac rebate. We have a new arena. We have cranes in downtown Winnipeg. We have Hydro and we have some hope. Go. Go now. Drop the writs and have at’em.

I have already explained the role of Agent 007%’s PST sleight-of-hand in adding to homeowner’s equity.

Getting into a hospital is great and thanks for the new plush chairs. How’s about getting us to an actual doctor or nurse instead?

The papers recently featured stats on Manitoba’s sluggish employment growth rate.

Which cranes in downtown Winnipeg are for PRIVATE SECTOR initiatives? The Manitoba Hydro building? The HSC building on William? Moving away from downtown, what about the floodway project that has experienced cost overruns to the point where the scope of same has been scaled back to the detriment of some future generation? I acknowledge the need for public sector expenditures. However, BOTH the public AND private sectors should be stoking our economic engine. The public sector going it alone is not a sustainable economic strategy.

Hydro, unlike the telecom industry is still a natural monopoly. Fearmongering about Hugh’s evil plan may play well to people clinging to a 19th century paradigm about the delivery of telecom services. The rest of us are not too worried. Perhaps there may be a time where the sale of Manitoba Hydro might make sense. That time is not now.

The NDP are great as the social conscience of our fair province. They are unfortunately far less adept as actual managers…