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Real Canadian Mortgage Credit Growth Is Pointing To An Early 80s Style Meltdown
Real Canadian Mortgage Credit Growth Is Pointing To An Early 80s Style Meltdown Canadian mortgage credit growth is falling, but how bad is it in real terms? People are comparing today’s low growth numbers to the mid-1990s. While there are some parallels, it more accurately resembles the early 1980s. Mortgage credit growth, when adjusted for […]
An economy that does not grow?
An economy that does not grow? There is now plenty of evidence that economic growth is highly problematic for human welfare and survival. The evidence comes from three domains. 1) The ecological: continual growth uses up the resources that supply and the sinks that take the waste from human activity globally. 2) The social: economic […]
Home Affordability: Canada vs. US
Home Affordability: Canada vs. US Homes are unaffordable in the US, but the situation is far worse in Canada. Point2homes has an interesting set of charts on Home Affordability In Canada vs the US. Key Findings The average Canadian has to dish out a whopping 56% more to buy a home, or 25% more to […]
A Worldwide Debt Default Is A Real Possibility
A Worldwide Debt Default Is A Real Possibility Getty Is debt good or bad? The answer is “Yes.” Debt is future spending pulled forward in time. It lets you buy something now for which you otherwise don’t have cash yet. Whether it’s wise or not depends on what you buy. Debt to educate yourself so […]
This Wasn’t Supposed To Happen…
This Wasn’t Supposed To Happen… We have definitely deviated from the script. According to virtually all of the “experts”, the stock market was not supposed to keep plummeting in November. This was supposed to be the month when the market calmed down and things returned to normal. But instead, November is starting to look a […]
Beware Fireworks As Italy’s Budget Resubmission Deadline Looms
Beware Fireworks As Italy’s Budget Resubmission Deadline Looms With stocks in Europe attempting a modest relief rally after yesterday’s sharp selloff, traders remain on edge over political developments as today is the deadline for Italy’s cabinet to resubmit their budget proposal after the EC requested a new fiscal plan. Virtually nobody expects any material changes, […]
How Circular is the Circular Economy?
How Circular is the Circular Economy? Illustration: Diego Marmolejo. Introducing the Circular Economy The circular economy has become, for many governments, institutions, companies, and environmental organisations, one of the main components of a plan to lower carbon emissions. In the circular economy, resources would be continually re-used, meaning that there would be no more mining […]
Matthieu Auzanneau’s: OIL, POWER, AND WAR: A Dark History
Matthieu Auzanneau’s: OIL, POWER, AND WAR: A Dark History In Oil, Power, and War, French journalist Matthieu Auzanneau presents a comprehensive, provocative history of humankind’s relationship with oil. His account takes us from the first references to oil in ancient literature and scripture, to its current status as the lifeblood of the industrial economy, to its […]
How the light gets in
How the light gets in The science behind growth scepticism The Entropy Law still matters. CUSP director Tim Jackson responds to Michael Liebreich’s essay on the ‘The secret of eternal growth’. CC.0 :: ipicgr / pixabay.com It’s probably fitting that Michael Liebreich’s The Secret of Eternal Growth was published so close to Halloween. It’s so […]
The Biggest Threat To Dollar Dominance
The Biggest Threat To Dollar Dominance Russian oil exporters are pressuring Western commodity traders to pay for Russian crude in euros and not dollars as Washington prepares more sanctions for the 2014 annexation of Crimea by Moscow, Reuters reported last week, citing as many as seven industry sources. While it may have come as a […]
For The First Time Ever, Bank Of Japan Total Assets Surpass Japan’s GDP
For The First Time Ever, Bank Of Japan Total Assets Surpass Japan’s GDP For the first time in history, a central bank has managed to print enough money to buy enough assets to surpass the nation’s annual GDP. Under the watchful eye of Kuroda, and the overseeing (but independent) hand of Abe, The Bank of […]
The Economic Consequences Of Debt
The Economic Consequences Of Debt Not surprisingly, my recent article on “The Important Role Of Recessions” led to more than just a bit of debate on why “this time is different.” The running theme in the debate was that debt really isn’t an issue as long as our neighbors are willing to support continued fiscal largesse. As I […]
