[Canada] Canadian Politics Redux

[Jacob]

So the thing is they don't need to set up a whole new "pension management set-up".

Government rolled several pension plans (including my MEPP), together with the Heritage Savings Trust Fund, into a governing body called AIMCo, Alberta Investment Management Corporation.  They already manage $170 billion in investments, so they're hardly inexperienced.  That would be the basis for any new APP.

Oh I see. Yeah that makes sense.

I hate talk of things like a "third rail".  Almost anything should be up for discussion.  As you can maybe tell I am not necessarily against an APP - but I don't think Smith is doing a good job in selling the idea.

Ok. You can discuss what you like. Allowing party political concerns to influence the prudent and independent management of public pensions introduces significant long term risk to the financial health of those pensions, and is a feature of deteriorating democracies like Hungary.

I HIGHLY doubt any UCP voter will be okay with degrading their pension incomes just in order to stick it to Trudeau or the rest of Canada or whatever.  Pensions are of course extremely important to almost all voters, including UCP voters.  Generally speaking of course UCP voters are more likely to be lower income than NDP voters (who are concentrated in the cities, in particular Edmonton).

Of course they won't if the choice is put to them like that. But that's not how they'll frame the choice. They'll be told that the kind of political interference they enjoy (by the UCP) is going to make things better, because of course it'll be good investments (look here are articles by serious sounding people in newspapers you trust arguing it'll actuall INCREASE payouts) and it'll help Alberta economically (because investement in oil and gas will boost the economy and that'll help everyone in Alberta too). Later it'll turn out to not be true, but it won't matter.

[crazy canuck]

It's Brexit for Alberta.

The people are being told big lies, which those who know they are lies characterize as a bargaining position, and if it goes through people in Alberta will wonder why they are worse off.

[Grey Fox]

On the context of our Ukrainian soldier. Wasn't he a child when he joined the unit?

If so of this had happened in the 21st century we would consider him a victim of the Nazi regime.

I find this APP/CPP discussion quite interesting. A facet of Canadian life and federal government that doesn't apply to Quebec.

[Jacob]

I saw an (unsubstantiated) claim on the internet that AIMco is one of the worst performing fund managers in Canada.

Don't know if it's true, but if it is it should should potentially give some pause.

Did a quick search and found this graph which shows that AIMco underperforms CPPIB.

Apparently the Alberta Teachers Plan also outperformed AIMco, before it was apparently moved over to AIMco. If true (did it get moved), that has cost Albertan Teachers money.

[Jacob]

... apparently AIMCO already invests disproportionately in Albertan gas & oil?

That's a bit of a "eggs in one basket" risk if true. If there's a downturn in oil and gas, having the pension plan diversified from the primary economic driver of Alberta would be a good thing for the financial well being of the population.

Of course, if the APP's performance is closely tied to the oil and gas industry it would mean that Albertans would have even more vested interest in the success of their primary industry. Whether that's a positive or a negative is a matter of perspective, but personally I would not like it if I lived in Albertan. Seems highly imprudent.

[crazy canuck]

On the context of our Ukrainian soldier. Wasn't he a child when he joined the unit?

If so of this had happened in the 21st century we would consider him a victim of the Nazi regime.

I find this APP/CPP discussion quite interesting. A facet of Canadian life and federal government that doesn't apply to Quebec.

He is 98 now.  He joined the unit in 43.  Making him 18 when he joined.

[Josephus]

Looks like Poland is "taking steps" to extradite him. Not sure on what grounds.

[crazy canuck]

Looks like Poland is "taking steps" to extradite him. Not sure on what grounds.

That unit killed hundreds if not thousands of Polish civilians.

There will be no evidence this man did any of the killing or was even present when those atrocities were committed.  But there is an election in Poland and so populism demands the Polish government make this move even though it is bound to fail.

[Barrister]

I find this APP/CPP discussion quite interesting. A facet of Canadian life and federal government that doesn't apply to Quebec.

Ideas like an Alberta Pension Plan, or an Alberta police force, all go back to the "Alberta firewall" letter penned by none other than one Stephen Harper back from before he was CPC Leader.  They were pretty explicitly modeled after steps Quebec has taken.

[crazy canuck]

Looks like the Speaker will need to step down.

[viper37]

On the context of our Ukrainian soldier. Wasn't he a child when he joined the unit?

If so of this had happened in the 21st century we would consider him a victim of the Nazi regime.

I find this APP/CPP discussion quite interesting. A facet of Canadian life and federal government that doesn't apply to Quebec.

He is 98 now.  He joined the unit in 43.  Making him 18 when he joined.

He joined at 17.  After seeing his teacher and half of his village getting deported by the Russians.

[viper37]

Looks like Poland is "taking steps" to extradite him. Not sure on what grounds.

There's no evidence he participated in crimes against the Polish people in the time he was enrolled.

[Grey Fox]

I find this APP/CPP discussion quite interesting. A facet of Canadian life and federal government that doesn't apply to Quebec.

Ideas like an Alberta Pension Plan, or an Alberta police force, all go back to the "Alberta firewall" letter penned by none other than one Stephen Harper back from before he was CPC Leader.  They were pretty explicitly modeled after steps Quebec has taken.

It's a good to great idea.

[crazy canuck]

On the context of our Ukrainian soldier. Wasn't he a child when he joined the unit?

If so of this had happened in the 21st century we would consider him a victim of the Nazi regime.

I find this APP/CPP discussion quite interesting. A facet of Canadian life and federal government that doesn't apply to Quebec.

He is 98 now.  He joined the unit in 43.  Making him 18 when he joined.

He joined at 17.  After seeing his teacher and half of his village getting deported by the Russians.

Not sure where you're getting that from. Also, the math doesn't work he was either 18 or 19 not 17.

In any event, I can't believe people are actually defending someone who fought in a Waffen SS unit. I get babies tribalism and his strong feelings for Ukraine presently. But for fucks sake's folks, you're defending and justifying people who fought in an SS unit.

[HVC]

When you're stuck between a rock and a hard place sometimes you pick the rock. Not laudable, but can somewhat be understandable.