Remember when the HST cause was lost by the Christy Clark government, they should have reflected on..."..when you're at the bottom of a valley, anywhere upslope looks higher"

Two hours ago the search for a NEW topic started something like this.

Google Search Criteria:  spread history that we talked about earlier on the interest rates for bond issues

Modified

 Google Search Criteria: British Columbia Government  spread history on the interest rates for bond issues

First of many results was this:

Debt Management - Ministry of Finance - Government of British ...

www.fin.gov.bc.ca/PT/dmb/faq.htm

Government of British Columbia Home page ... Ministry of Finance Internet site ... short-term debt outstanding and fixed issue debt that has been converted ... For bonds, the province contracts to pay the bondholder a stipulated rate of interest on ... Therefore, the cost is spread out over the life of the assets and shared by all ...

But before you click on the above, to get to the fact that "S & P" affirms Province of BC Ratings remained unchanged after REJECTION of the HST......... didn't BC Finance Minister Kevin Falcon come out with pencil stubs blazing about what a GREAT job the Christy Liberals had done.... and during the run up to the VOTE on the HST he was blaming the Public if they did vote to abolish the HST...., the Triple ratings would be TOAST?   The added debt would be shouldered by the Pubic, not of his doing...., Stupid PST Tax commentary too...... etc.

And to understand why this search came about...., it was initiated by a peek at a SiteMeter recording where googlebot.com was doing their hacking into another nook and cranny on the internet:

Domain Name		googlebot.com ? (Commercial)
IP Address		66.249.73.# (Google)
Time of Visit		Jun 18 2012 7:07:43 am
Last Page View		Jun 18 2012 7:15:15 am
Visit Length		7 minutes 32 seconds
Page Views		2
Referring URL
Visit Entry Page		http://blogborgcollective.blogspot.ca/2011/09/oh-we-can-hardly-wait-for-premier.html
Visit Exit Page		http://blogborgcolle...report-cards-so.html
Out Click
Time Zone		UTC-8:00
Visitor's Time		Jun 18 2012 7:07:43 am

Which sent the BBC off to see what the BBC wrote on ....Christy Clark, of course... which as it turned out, it wasn't on Christy Clark, just a prediction of what the future was holding for Christy Clark and the BC Liberals.

G. Farrell-Collins: How would I characterize the government's continued comments on the bright future of British Columbia's economy? I suppose, when you're at the bottom of a valley, anywhere upslope looks higher than where you are at the present time. For the minister (J. MacPhail) to say that a number of indicators in the last quarter have started to trend upwards. . . . I think that while it's nice to hear, it's going to be an awful long time before we get anywhere near where we were prior to the downturn. - BC HANSARD  JUNE 1, 1999

June 1, 1999, and it took another TWO years before the BC Liberals would make its way into being government by promising NOT to SELL BC Rail......



Nine years passed before the shocking November 2010 announcement that there was about to be an impending Power change at BC Liberal Supreme headquarters.  Gordon Campbell was forced, indirectly to pass the torch to his former Deputy Premier, one Christy Clark, in March 2011.   It's taken her ONE year to set her party on the same course that Gordon Campbell started down in 2010, .......and by another YEAR, based on Polling numbers for the past year and half......it will be the Mandatory time for another government.  ... All because of the BC Rail deal that still STINKS!

Sooner would be better for a new government with a clear mandate.

I suppose, when you're at the bottom of a valley, anywhere upslope looks higher than where you are at the present time. - Gary Farrell-Collins aka Gary Collins, June 1, 1999

**************************** 

"Bottom of the Valley" is best seen at the bottom of this POST, not long to go folks...... there are links for you to visit, to read in between, but sometimes a photo is equal to a Thousand Words....at the "Bottom of the Valley" there's a silver lining where there's "typically no more than $5 Billion maturing in any given year - Christy Clark & Kevin Falcon"


Debt Management News (2012)

• S&P affirms Province of British Columbia Ratings at 'AAA' are unchanged following voters' rejection of the harmonized sales tax (HST) - August 26, 2011
• Fitch affirms Province of British Columbia, Canada rating at 'AAA'; Outlook stable - June 8, 2011
• The Province of BC maintains a Moody's credit rating of 'Aaa' with a stable outlook - April 20, 2011
• DBRS confirms Province of BC's credit rating at 'AA(high)' with a stable outlook - April 20, 2011
• DBRS publishes rating report on the Province of British Columbia - April 28, 2011
• Standard and Poor's publishes credit report on the Province of BC - April 21, 2011
• S&P affirms Province Of British Columbia Ratings at 'AAA' On Reduced Debt, Financial Flexibility - April 12, 2011
• Moody's Releases Credit Opinion for the Province of British Columbia - January 11, 2011
• Province of British Columbia 'AAA' Ratings Affirmed On Continued Low Debt; Outlook Stable - May 19, 2010
• Moody's Issues Annual Report on the Province of British Columbia - May 18, 2010
• DBRS Confirms Province of British Columbia at AA (high); Recovery Plan on Track - May 4, 2010
• Moody's Comments on Province of British Columbia's 2010-11 Budget - March 3, 201w0 

Bottom of the Valley begins here:

 Frequently asked Questions of which this one is worth opening up


 "Net Debt Maturities" (Graph)

This image makes it appear that over the past eleven years the BC Liberals have put us so far into debt it doesn't matter who becomes the Next government in 2013.  Even the BC Liberals wouldn't be able to put us into further debt, or could SHE.

Her BC Liberal Party has accumulated close to $37 Billion in Future DEBT shared out between the Province directly, Crown corporations which have been told to create Deferral Accounts, and agencies.   It doesn't include the hypothetical Indemnity clause that the BC Liberal Government promised to CN Rail in the wake of clinching the sale of BC Rail...... which currently sits at close to $700 million, owed.

Debt maturity dates... clarified in lay-person language.  The BC Liberals don't declare their debt as we merrily go along, they believe that the debt only matures on the final day.... like POOF, and its there to be seen by our GrandChildren.

eg.  Sea to Sky highway..... $2.1 billion not seen until 35 years after 2008 (contract began) = 2043

eg. Port Mann Bridge ..... $3.1 billion not seen until 40 years after 2013 (bridge opens) = 2053
Should be on the schedule but obviously its going to take a little longer than 40 years, ENJOY another lie!

 Time to go hunting for PREVIOUS "BC Net Debt Maturity Data", eh.

Oh Gee Look, in Open Information  Two files....  the http we already know, above, but this CSV file allows you to be a.... Finance Minister .... forever!

BC Finance - British Columbia Debt Maturities

British Columbia provincial net debt maturities and schedule of maturities projected to 2050. The province manages it debt maturity so that there is typically no more than $5 Billion maturing in any given year. Data current to September 30, 2011

More Information

http://www.fin.gov.bc.ca/PT/dmb/ref/netD...

Download Files

• CSV

Finally, if there's "typically only $5 billion maturing in any given year" over each of the next 50 years, doesn't that mean that we owe..... $250 BILLION?