An Edmonton businessman, who has succeeded within Northern Alberta’s roller-coaster economy for some 15 years, sat across from me and shook his head.
“October,” he said. “It’ll catch up to us by October.
“Red October – the streets of Edmonton will run red with financial bleeding.”
Revenues in most Edmonton-based business are either flat, or have mildly dropped year-over-year. Funny how that happens when a 50 per cent drop in oil and gas prices works through an economy.
Local housing prices have stayed flat, or dipped, in the latest Edmonton reports. When families stopped moving to Alberta, when Edmontonians themselves start feeling financially stressed, upward mobility takes a hit.
Expenses – ever-increasing and costly government regulation, ever-increasing taxation – keep going up. City taxes are up 3% and now there’s the carbon tax. Minimum wages are set to increase.
“Even in tough years, I could count on revenues bein ...
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