How stupid does the premier think we are?
By Lethbridge Herald on July 4, 2025.
GUEST OPINION
David B. Carpenter
Have you stopped beating your wife?
It’s a simple question, just answer yes or no.
This is the classic example of a loaded question, either requested answer to which makes one guilty of an unproven assumption.
Most people smile because they know where the question ends up. I don’t imagine that the answer would be of much value in any criminal proceeding.
Frankly, I doubt that the answer to a loaded question would be of much value to anyone, save and except the UCP government of Alberta, who are prepared to bet the future of Alberta on a series of loaded questions disguised as surveys. I got the “Alberta Next” promotional material on my computer and reviewed the survey questions which put the wife beating classic in danger of being replaced as the leading example of loaded questions. Any conclusions drawn from surveys using these questions are valueless.
Professor Tombe from the University of Calgary is a member of the “Alberta Next” panel. I have heard him speak and was impressed with his research and thoroughness.
If permitted, I am going to ask him if one of his students used the UCP survey in defence of their PHD thesis would he sign the document? How about a Master’s thesis? An undergrad degree? Elementary school?
But more important than the outright lies and half-truths peddled in the promo material are the factual items which are not disclosed.
Firstly, CPP operates at arms-length from governments and the Federal minister of Finance along with the Ministers of Finance of all participating provinces are stewards jointly responsible for its governance and oversight and have exercised this responsibility since 1966.
Alberta’s current representative is Nate Horner but we have also had qualified representatives in the past, people like Dick Johnston, Joe Ceci, Stockwell Day and Jim Dinning.
After a substantial review of the history, until the current premier of Alberta was appointed I have been unable to find any substantive unresolved disagreement amongst the stewards on any significant recommendation to Parliament.
I have been assured in writing by our current Finance minister, Nate Horner, that he is confident in the LifeWorks document which indicates that Alberta is entitled to $334 billion or 53 per cent of the total CPP fund balance.
However, the promotional material for Alberta Next states the new, recalculated amount to be $140 billion with absolutely no explanation as to the almost $200 billion error. Barring an undisclosed commission payable to some Turkish brother-in-law of a member of the UCP cabinet one can only conclude that Nate Horner is dumber than a sack of hammers without the handles. Not in every aspect of his life,
I don’t know him that well, but he has certainly proven to be inept in finance.
And finally, Nate Horner seems to be absolutely blind to the fact that Alberta does not have the right to withdraw from CPP. To do so, Alberta must qualify as a “province providing a comprehensive pension plan” which requires, amongst other things, that it assume by legislation all of the obligations and liabilities of CPP benefits due to employment or self-employment in Alberta, even for individuals who no longer reside in Alberta.
Present value of all liabilities for pensions of CPP are approximately three times the value of the assets.
The actual calculation of the liability owing to be assumed by Albertans must be computed on an individual basis before any notice to withdraw is given, but a fair estimate is that for Nate Horner to grab $140 billion he must legally assume on our behalf $420 billion or so in debt.
Even a school child could advise that you do not know if something is a good deal until you know the price.
These rookie financial errors speak to gross incompetence on the part of Nate Horner and of the person who appointed him.
This may be a purposeful decision because it will give the premier plausible deniability when confronted by the facts.
“I thought that he knew what he was doing.”
Once again, Danielle Smith has raised the bar when one considers the question “Just how stupid does she think we are?
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‘Just how stupid does Smith think we are? Yes or No?’
Nice to distill our future into simple answers …
Do current Albertans want to separate from Canada? Yes or No.
Do current Albertans want to withdraw from the CPP (with assets and liabilities)? Yes or No.
Do current Albertans want to create their own (politician-controlled) police force? Yes or No.
Do current Albertans want an American-style health care or education system? Yes or No?
Maybe the UCP should call a confidence election with an honest platform? Yes or No?
Smith must have read Albertans minds and not waited for her loaded questionnaire or a referendum. She is forming her own provincial police force.
Mr. Carpenter, aside from your cushy “Provincial Government” position with the Worker’s Compensation Board (WCB) you have consistently and continuously bad mouthed, criticized and ridiculed our Premier and the UCP. Understandably we (you) have freedom of expression and speech, but after the plethora of your rants, obviously nothing is and/or will change. Perhaps, attraction to Ontario or even Quebec might be a better fit for your domicile? Once again, in Canada, you do have the freedom to relocate to any and/or all provinces. (Should you choose Quebec, suggest you learn to speak and read French due to their mandatory French language enforcement. You may enjoy the Quebec Pension Plan (QPP) as well as their constant separation ideology.). Just saying, but it is obvious you no longer enjoy Alberta, or progressive government and definitely not our Premier….. is it because Danielle Smith is a female?
it is rather pathetic that the typical narrow, blind, and ignorant alberta first fool suggests moving away when confronted with perspective more intelligent than such an albertan can process.
Well, as Mr. Carpenter is obviously so disenchanted and with his continued venomously against the UCP and our Premier, why should he sustain residency here? He should be able to enjoy an existence and it appears to be the “square peg in a round hole” scenario of him residing in Alberta…. simple solution that I previously extended, move on!
is that how you see the likes of democracy and the pursuit of truth: the only truth is that which suits one’s preference, and anyone different should shut up and move? i suppose one has a right to promote fascist values, but others have a right to uphold truth and promote freedom.
How absolutely ignorant and stupid. Suggesting someone who accurately questions our dictator’s motives with her loaded and pro separatist questions that he move is beyond ludicrous. The separatists have no chance of winning so for u to suggest us that are pro Canada move out is laughable. Get ur head out of the ur butt.
“Separatists” who even suggested separatists? Albertan’s are truly Canadian and not engaging in separation, we are however not going to be bullied by Ottawa, not anymore, and our Premier is front and centre to ensue that does not happen to the best of her ability.
” You have the right of free speach … Until you criticize dear leader. Then you should leave.”
Do you know the term gleichschalten?
Regardless of whom the finger is pointing, if one is so intransigent and intent on ridiculing ANYONE (including our Premier) as is Carpenter, then ergo it may be time to move on. Rest assured an individual such as Carpenter would gravitate towards any conflicting member to his mindset. It would be interesting should he find himself in Quebec and continued (in French of course) against François Legault!
Re: “Gleichschalten” we are not in Nazi Germany and your reference is totally absurd. In case you need to be reminded, we thankfully live in a democracy and we democratically elect our government(s) and our “Leaders”. Our Leaders ( Premier Danielle Smith) are placed in their positions to “Lead”. You got a problem with that? Well if you do, I suggest you wait for the next election and vote to your heart’s content or maybe you would consider challenging a seat in our Legislature!
Whew. I thought you were going to tell me to leave Alberta, too.
The term refers to the ‘harmonizing’ of ideology, to ‘bring into line’ acceptable opinion. Mass democracy falls in behind the leader who generates resentment and isolates others for blame. A mass democracy is, simply, fascism.
You may think you live in a democracy, but voting isn’t the whole of it. Democracy is care, cooperation, dialogue, comprimise, honesty … not the unilateral deconstruction of all public institutions that we are seeing. Reality, my friend: you are a drone for fascism.
Your characterizations are far off the mark and “fascism” comment uncalled for. History will eventually characterize Danielle Smith as being a strong and courageous Premier who stood up to Ottawa and championed Alberta in many respects.
is there no such thing as democratic fascism? run a smitty in an election, vote for her (and, the sense of democracy), and, ergo, fascism, even it unfolds piecemeal and without a mandate?
Thomas Mann defined democracy as “that form of government and of society which is inspired above every other with the feeling and consciousness of the dignity of man [sic]”
And he goes on to say that the degeneration of democracy into mass democracy (demagoguery, propaganda, persecution of the other) “gives birth to the bastard child of democracy: fascism.”
He said: “if ever fascism should come to America, it will come in the name of freedom”. And our UCP and CPC representatives will be serving them coffee.
Coffee, and not the “orange koolaid” the NDP serve?
the orange koolaid is what that maga clown to the south soaks in, and is shared by the likes of the alberta maga clowns that wannabe queen smitty holds ever so tight to her bus wheels bosom.
what does that mann guy know ? he sounds just like some pie in the sky type that ndp commies would love. i get my political outlook only from real men, like machiavelli, and that guy that wrote mein kampf, and from truth social posts by that brilliant god among men.
We truly admire your scholarly touch, biff. Thomas, I think, is Michael’s brother – the one who faked the data on climate change with a hockey stick, or something. I heard they grew up on a commune created by Ayn Rand after she married Trotsky in Russia and moved to Mexico. Alan Greenspan was their only offspring. I read it all in Breitbart by a journalist going by the initials ‘A.I.’
nice one, enjoyed it all…but, you already had me at “hockey stick”. 🙂
I find it interesting that your handle is Reality when you’re so clearly divorced from it.
seems they are just bright enough to learn how to flip and toss pancakes.
If you can count to ten, you should read this:
.https://lisayoung.substack.com/p/the-ugly-underbelly-of-alberta-separatism
The last person in the world who I would have thought had a condescending attitude is Carpenter. I would like to know how this government and particularly Smith has affected his lifestyle.
so he agrees this is a good thing?.
For the fiscal year 2023, CPP, 570 billion in assets, net income 8 billion, net return 1.3 %, say it again 1.3%. Percentage value-added above reference portfolios, one year 1.3%, 0.8% over five years. Some zoo animals could have done better, An article from 2021 from Andrew Coyne on the problem with the CPP investment board is telling. Hint, Finances of the Nation.
https://financesofthenation.ca/2021/05/29/andrew-coyne-the-problem-with-the-cpp-investment-board/
A more honest anaysis by Coyne might include the costs and management fees of the ‘reference portfolios’. Further, it would compare these returns to market growth (or a GIC). Coyne’s own chart shows returns (after costs) of 20 plus percent.
But I’m sure these deceptions fuel the fire for the UCP base – as they seem to do.
Is there any reference points to this chart you have posted. Did you just AI this yourself. Whose chart is it and who produced it.
So Just so I am clear. Coyne is just dandy fine when it comes to his sticht dissing Trump or Poilievre but is selectively stupid when he writes about the CPP and its bloat.
Er … the chart is from the link you provided … you do read them, don’t you?
As for Coyne. He lacks rigour and objectivity – eg. the article you linked. Kind of a cross between Rick Bell and Rex Murphy, with a dash of Jack Mintz.
you should have included this in your missive. Was right under the graph you provided. Nothing quite like distorting facts through omission.
Basically most of whatever premium the CPP might have gained from all of this wheelspinning has been eaten up in costs — including the gigantic pay packets for its managers. But who’s going to call them on it?
Not the managers, certainly.
Not the CPP’s millions of contributors: they have no choice but to keep paying into it…
The board of directors? Maybe. But they seem content with things as they are — possibly because their pay has skyrocketed along with everything else. Since 2006, total compensation for the board’s 12 directors has nearly quadrupled.
It saddens me that you can’t quite seem to understand this. They are comparing ROR to reference (and well-performing) portfolios. The CPP is doing slightly better than them. Like two Olympic runners where one is slightly faster.
The CPP used to track the market – say 7% growth – at lower costs. Now they are averaging double that growth *after costs*. This is better despite paying more people better to do it.
What you are complaining about is paying a group of analysts more to make much more: over 15% net per the chart.
Would you rather pay less to eliminate your higher returns?
How have your investments grown?