Alberta Separatism is starting to go mainstream

[dirtsniffer]

https://www.cbc.ca/player/play/2281001539525

Wasn't sure which thread this fit better in, either defund the cbc thread or this defund the roc thread

[davidI]

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https://www.cbc.ca/player/play/2281001539525

Wasn't sure which thread this fit better in, either defund the cbc thread or this defund the roc thread

I tried watching this but there's no 2x speed like on YouTube. Why does the CBC insist on hosting their own content on a shittier platform?

From skipping through it, what I gathered is the argument is down to the Lifeworks report not actually considering cashflows in and out of CPP investments and instead they used a very basic calculation based on nominal returns and also the well-known migration issues of people contributing in Alberta but retiring elsewhere.

[Masked Bandit]

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I tried watching this but there's no 2x speed like on YouTube. Why does the CBC insist on hosting their own content on a shittier platform?

From skipping through it, what I gathered is the argument is down to the Lifeworks report not actually considering cashflows in and out of CPP investments and instead they used a very basic calculation based on nominal returns and also the well-known migration issues of people contributing in Alberta but retiring elsewhere.

That's more or less what I got out of it. To be clear, this is the first actual explanation I've listened to that details how DS & friends came up with their number and as I expected, it's full on Marth.

[suntan]

Did they propose an alternate number?

But let's say Alberta started with that number. Would the CPP accept that number? Nope of course not.

Start high, go from there.

I guess y'all buy your cars at MSRP too.

[msommers]

Over MSRP

Then auction it and make 100,000 USD

[pheoxs]

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Did they propose an alternate number?

But let's say Alberta started with that number. Would the CPP accept that number? Nope of course not.

Start high, go from there.

I guess y'all buy your cars at MSRP too.

CPP already provided AB a number back in 2019 when the UCP started floating this idea.

The 7 page letter is at the bottom of this article. Yes CBC bad, but I couldn't find any other linkable site that had published the original letter.
Trudeau attacks pitch to take Alberta out of CPP in open letter to Danielle Smith | CBC News

CPP's claim:

Since the CPP Act requires a withdrawing province take a portion of assets and liabilities, it is more appropriate to use the closed group approach to determine “Alberta’s share” of these amounts. Based on population at that time, Alberta’s share is estimated to be $32.5 billion in assets and $165.6 billion in liability (resulting in $133.1 billion in unfunded liability).

[kertejud2]

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I tried watching this but there's no 2x speed like on YouTube. Why does the CBC insist on hosting their own content on a shittier platform?

Same reason Bell, Rogers, Global, and all the other media sites do: they can control the ad revenue better if it's tied into their crappy media players than embedding their youtube video.

[suntan]

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CPP already provided AB a number back in 2019 when the UCP started floating this idea.

The 7 page letter is at the bottom of this article. Yes CBC bad, but I couldn't find any other linkable site that had published the original letter.
Trudeau attacks pitch to take Alberta out of CPP in open letter to Danielle Smith | CBC News

CPP's claim:

I wonder if any province would have a net positive asset number lol.

[ExtraSlow]

Either there's a realistic and reasonable number, that each province can know ahead of time, or the whole system is a shell game.

[Xtrema]

So we are seeing this MLM ends in front of our very own eyes?

[Buster]

This must be causing some serious cognitive dissonance with people who believe in the nanny state.

[littledan]

funny when CBC is explaining it.

"you might think that a $1 invested from AB would go into investment, but it might have actually been used to pay out to a pensioner in New Brunswick"

aka AB has been getting short end forever

(i'm aware ppl can retire in other provinces so don't shit on me)

[Buster]

The entire purpose of Canada is to ensure a transfer of wealth from productive western provinces to other less productive regions. It's colonialism with a camouflage of fake democracy.

[dirtsniffer]

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CPP already provided AB a number back in 2019 when the UCP started floating this idea.

The 7 page letter is at the bottom of this article. Yes CBC bad, but I couldn't find any other linkable site that had published the original letter.
Trudeau attacks pitch to take Alberta out of CPP in open letter to Danielle Smith | CBC News

CPP's claim:

initial Assets / Liabilities
• Actuarial valuations of CPP are performed every three years, by the independent Office of the Chief Actuary, in order to evaluate and ensure the long-term sustainability and contribution stability of CPP.
• CPP valuations are performed under two different methodologies. − The first, called an “open group” approach, looks at all current assets, expected contributions and expected investment income and compares these amounts against all current liabilities and expected benefit payments over the foreseeable future1 in order to ensure that legislated contribution rates are sufficient. o Under this approach, CPP assets are about $2,543.6 billion while CPP liabilities are about $2,541.1 billion. As a result, under an “open group” approach, CPP does not have an unfunded liability. The associated funded ratio is 100.1 per cent. − The second, called a “closed group” approach, only looks at current participants of the Plan, with no new entrants permitted and no new benefits accrued. A “closed group” approach is the methodology used to value assets and liabilities in defined benefit plans. o Under this approach, CPP assets are about $285.4 billion while CPP liabilities are about $1,169.5 billion, resulting in an unfunded liability of about $884.2 billion. The associated funded ratio is 24.4 per cent.
• Since the CPP Act requires a withdrawing province take a portion of assets and liabilities, it is more appropriate to use the closed group approach to determine “Alberta’s share” of these amounts. Based on population at that time, Alberta’s share is estimated to be $32.5 billion in assets and $165.6 billion in liability (resulting in $133.1 billion in unfunded liability).

...

[Buster]

The 32.5 and 165.6 is going to keep getting worse. Pull it now.

[sabad66]

I watched that video. Aside from the condescending undertones, is anything in there not factual? Intelligent people don’t actually believe that AB would be entitled to 53% of the entire fund, do they? Fwiw I’m actually warming up to the idea of an APP, but at least be honest about it. Using this number in all of their literature is just straight up misinformation at this point and it just makes them look like clowns

That said the -133B number is also extremely laughable. It really can’t be that hard to come up with an honest number…

[Buster]

Alberta is entitled to far, far more than whatever 53 percent of the CPP is.

[max_boost]

I've read enough
BUSTER FOR PREMIER

[sabad66]

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Alberta is entitled to far, far more than whatever 53 percent of the CPP is.

Care to explain?

[msommers]

If the math checks out, it all makes sense and AB can do it, Albertans won't. Too many people are chickenshit and will only hear it's a major gamble of your retirement money...."we might be getting screwed up the ass, we might not be, but I can't risk it cuz it sounds scary"