Investment Archives - AB Pol Econ

Is Smith really a separatist/annexationist? Part 4- ‘My fellow Albertans’

25May

By Bob AscahNo Comments

Credit Ratings, Energy, Environment, Government Finances, Intergovernmental, Investment, Politics

Is Smith really a separatist/annexationist? Part 4- ‘My fellow Albertans’

“Separation, if necessary, but not necessarily separation” Introduction Premier Danielle Smith’s 5 May 2025 address followed by one week the Liberals’ near-majority re-election. Smith chose to deliver Her update on the ongoing war with “Ottawa.” “Ottawa” is code for the federal Liberal Party elite and is frequently used word to disparage the federal government. Smith used Ottawa 15 times in this address. Smith, ever the articulate, telegenic leader is a consummate communicator who has learned on the radio talk circuit as well during Her political career, didn't disappoint. She comes across as a voice of reason and the mainstream listener may not fully understand the underlying coded messages. In this analysis, I examine the text of Her address as well as watching/listening to...

Is Danielle Smith really a separatist/annexationist? Part 3- Survey results

17May

By Bob AscahNo Comments

Credit Ratings, Energy, Government Finances, Investment, Opinion/Research, Politics

Is Danielle Smith really a separatist/annexationist? Part 3- Survey results

Note to readers: The comments section below is now functioning. Please feel free to comment on any of my scribbling. I would like to hear what you think. In this part I examine recent and some historical polling data on Alberta separatism. In subsequent parts I will review Premier Smith’s “address” to Albertans and her salvo of fury over Mark Carney’s cabinet choices. Smith has clearly gone on the offensive since revelations in early February about suspicious procurement practices at Alberta Health Services surfaced. As a former colleague of mine at ATB used to characterize changing the narrative, Smith and her communications staff have embarked on a massive “head fake.” Recent polling by the Angus Reid Institute show that 48 per cent or roughly half of a randomized sample of...

27Apr

By Bob AscahNo Comments

Banks, Energy, Environment, Investment, Opinion/Research, Politics

Presentation to Philosophers’ Cafe- Mark Carney’s book Value(s)

Updated 1 May 2025. On Saturday 26 April, I was invited to present to the Philosophers' Cafe on Mark Carney's 2021 book Value(s). It was a pleasure to present this to an exceptional group of engaged, mostly seniors. This invitation from Professor Emeritus Martin Tweedle was prompted by a book review I can written in May 2021 on Carney's "Magnum Opus." You can access my dressed up speaking notes in the PDF file below. The discussion was spirited at times with many questions coming back to who is this man? Can he be trusted given his corporate connections? Unlike the book review, my presentation made some additional points about the book. First, Carney left the Bank of England (BoE) at the end of February 2020 and yet he had the final 600 -page manuscript to the publi...

5Feb

By Bob AscahNo Comments

Agencies, Government Finances, Investment, Opinion/Research, Politics

“Alberta’s New Heritage Fund “

Updated 8 February 2025 On 5 February this post was originally published. I February 2025 the Standing Committee of the Alberta Heritage Savings Trust Fund met to hear from the President of Treasury Board and Minister of Finance, Nate Horner, his officials, and the Acting Chief Executive Officer of the Alberta Investment Management Corporation AIMCo, provide a high level overview of the new Heritage Fund. Secondly, the Committee received an update on the second quarter report of the Fund's performance. As a result of this testimony and questions and answers. some of the unanswered questions I had about the Fund "refresh" were clarified. I have made some changes from the original post which are highlighted in bold type. The transcript for the meeting has not been posted b...

13Jan

By Bob AscahNo Comments

Agencies, Investment, Opinion/Research

On the Road to AIMCo’s Politicization

Reprinted from The Parkland Institute with permission. On the Road to AIMCo’s Politicization - Parkland Institute Jan 12, 2025 Bob Ascah The Alberta government’s abrupt dismissal of AIMCo’s board and CEO has raised alarms about political interference and the erosion of the corporation’s independence. The subsequent appointment of former Prime Minister Stephen Harper as AIMCo’s chair underscores concerns that the organization is being reshaped to serve partisan interests rather than focusing on its responsibilities to Albertans. Against this backdrop, understanding AIMCo’s evolution, governance challenges, and its politicization becomes more critical than ever. The Establishment of the Alberta Investment Management Corporation (AIMCo) Prior to the establishment of AIMCo, the...

Pinocchios Aplenty: Fact Checking Alberta’s Coal Industry Modernization Initiative

10Jan

By Bob AscahNo Comments

Energy, Environment, Investment, Opinion/Research, Politics

Pinocchios Aplenty: Fact Checking Alberta’s Coal Industry Modernization Initiative

Contributor Dr. Ian Urquhart is Professor Emeritus of Political Science from the University of Alberta. In memory of Kris Unger. Kris was passionate about preserving Alberta’s landscapes, most especially perhaps the Eastern Slopes and the Rockies. I hope his spirit approves of the following Introduction Disingenuous. That’s how The Globe and Mail’s Emma Graney characterized Energy Minister Brian Jean at the news conference announcing the government’s vague Coal Industry Modernization Initiative. Deceptive and brazen also would be fitting adjectives. In their 30-minute news conference Mr. Jean and Environment Minister Rebecca Schulz failed miserably to communicate accurate information to the public about many vital aspects of exploiting coal in Alberta. One of the few une...

18Dec

By Bob AscahNo Comments

Agencies, Financial Institutions, Government Finances, Investment, Politics

Why AIMCo needs more scrutiny and transparency- Part 3

Introduction In Parts 1 and 2 of this series I examined the weaknesses in AIMCo’s reporting on its investments. With the recent news about the firing of AIMCo’s board, CEO, the CEO’s chief of staff, the Chief Legal Officer, and the head of human resources, it is incumbent for the government to clearly demonstrate that it has no intention of bringing AIMCo more closely under the direction of politicians. One measure the government could adopt is to appoint representatives of the major pension plans to the AIMCo board. That representation would mean those sitting on the board would have some “skin in the game;” that is their clients’ interests would be better aligned with AIMCo’s interest. The recent appointment of Alberta’s deputy finance minister gives some say in AIMCo’s operations as...

Why AIMCo needs more scrutiny and transparency Part 2

6Nov

By Bob AscahNo Comments

Agencies, Bankruptcies, Fiscal History, Government Finances, Investment, Politics

Why AIMCo needs more scrutiny and transparency Part 2

Updated 6 November 2024 Note to readers: On 6 November the Standing Committee on the Alberta Heritage Savings Trust Fund (AHSTF) will be holding its annual public meeting at 6:30 p.m. in the Rocky Mountain Room, 2nd Floor of the Queen Elizabeth II Building in Edmonton. The annual public meeting is open to members of the public either in person or via social media including Facebook. I attended the last two meetings in person and have been able to raise important questions of policy. In the 2022 meeting (transcript here), I was the only member of the public present in person. In 2023, I was pleased that there were nine members of the public raising uncomfortable questions which generally were deflected by officials of Alberta Treasury Board and Finance (TBF) and senior Al...

29Oct

By Bob AscahNo Comments

Agencies, Demographics, Government Finances, Investment

Presentation to AB Resistance on proposed Alberta Pension Plan

On Saturday 26 October I spoke to a policy conference put on by AB Resistance. I presented to the group on the proposed APP and, in particular, the dangers of politicization of investment. Below is a PDF of my presentation. Related Posts https://abpolecon.ca/2024/04/07/the-frustrations-of-a-foipp-applicant-the-case-of-the-app-part-2/ https://abpolecon.ca/2024/03/24/frustrations-of-a-foipp-applicant-the-case-of-the-alberta-pension-plan/ https://abpolecon.ca/2023/09/24/an-alberta-pension-plan-app-your-plan-their-choice/

30Sep

By Bob AscahNo Comments

Economic Data, Investment, Opinion/Research

Book Review- John Rapley’s Twilight of the Money Gods

Twilight of the Money Gods, the title perhaps a nod to Frederick Nietzsche’s Twilight of the idols, is an explosive critique of the discipline of economics as a religion. John Rapley, according to his Globe and Mail biography is political economist specializing in global development, the world economy and economic history. Rapley born in Canada, completed doctoral studies in Canada and pursued post-doctoral work at Oxford University. This book is the best book I have read on the history of economic thought. Particularly interesting is his description of the evolution of political economy of Smith and Ricardo into the neoclassical canon of Alfred Marshall. He situates the great debate on free trade within the context of a rising and dominant and the Britannica English corn laws. He ...