It must really rub sand in the faces of Vladimir Putin and his oligarchs – the USA has restored diplomatic relations to old Cold War nemesis Cuba, bringing vastly improved economic prospects to that formerly impoverished Caribbean nation of 11 million, while Russia is facing a bleak winter of discontent after its enforced isolation from the world community.
Canada is one of less than half a dozen countries with the coveted Triple A debt rating. What are the odds we will keep that precious rating when oil prices, upon which of our revenues come from, are tanking and the Harper government is insisting on emptying the vault to buy off the base with outrageous tax cuts?
There is a potential silver lining in the oil sector crash: We could get a boatload of Albertans and transplanted Atlantic Canadians coming to PEI to work in fish plants or on potato harvests. No need for a foreign worker program. Of course, the down side is far fewer people would qualify for the Trophy Wife Tax Cut (income splitting). It may even be down to five per cent of families from the current 15 per cent by the time oil prices hit rock bottom.