The Saskatchewan Boom Shaboom

I would never claim to know a hell of a lot about economics but the little I do know sometimes makes me wonder if any of those reporting about the economy understand it any better than I do.

It isn't just the Leader-Post's, Miss Merry Sunshine approach to anything "Saskatchewean" but when the Globe & Mail looks at this province, they are almost as bad.

For months now, with horns blowing and trumpets blaring we are being told that Saskatchewan is on a roll economically. Not just on a roll but booming. No not really booming but, BOOMING. Brad Wall for Prime Minister some are shouting from the roof tops. He'd fit right in with the rest of those old Reform/Alliance/Conservative bunch and the, "Aw shucks" old small town boy schtick worked for Chretien so why not Wall.

I wonder.

In Saskatchewan wholesale trade has declined, manufacturing is down, crop production fell below 2008 rates, potash production was down more than 50%, mining exploration fell by 35% and oil and gas extraction was down as well.

Overall the Saskatchewan economy contracted by 6.3%. Down $2.5 billion in real GDP from 2008. Does that sound like a boom to you? For an economy the size of Saskatchewan's that is a fair chunk of change.

 But don't worry Saskatchewan, considering the collective gooldfish memories of the Leader-Post editors, if there actually are any editors still working there, next week the papers will be full of boom stories all over again.

Feel better now?