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Canada lost 5,700 jobs in January
Canada lost 5,700 jobs in January Alberta had 10,000 fewer jobs, country’s unemployment rate inches up to 7.2% Canada’s jobless rate currently stands at 7.2 per cent after the economy lost 5,700 jobs last month. (LM Otero/Associated Press) The Canadian economy lost 5,700 jobs in January and the unemployment rate inched up to 7.2 per […]
Is Judgment Day At Hand?
Is Judgment Day At Hand? What is Judgment Day? It is like ancient times that the Feds, under Greenspan, somehow decided that US needed to follow a zero interest rate policy, a policy now known as the ZIRP. It was 2008 when Bernanke gave birth to the term Quantitative Easing, QE. QE was followed by Operation […]
We’re Flirting With Another Recession
We’re Flirting With Another Recession Meaning, it might already be here. Back in May, we were about to go to the printer with the June issue of Boom & Bust when I put on the brakes. My team wasn’t happy to hear it since these things take time to put together. But I didn’t have a choice. […]
Hawking: Greedy capitalists may pocket wealth as robots replace human workers
Hawking: Greedy capitalists may pocket wealth as robots replace human workers © Issei Kato / Reuters Renowned physicist Stephen Hawking’s latest Apocalyptic prediction involves neither colonizing aliens nor malicious artificial intelligence – just plain old human greed. The scientist was commenting on so-called technological unemployment, a trend of automatization taking over the jobs that previously […]
Why This Feels Like a Depression for Most People
Why This Feels Like a Depression for Most People “And the little screaming fact that sounds through all history: repression works only to strengthen and knit the repressed.” – John Steinbeck, The Grapes of Wrath Everyone has seen the pictures of the unemployed waiting in soup lines during the Great Depression. When you try to tell a […]
One True Measure of Stagnation: Not in the Labor Force
One True Measure of Stagnation: Not in the Labor Force This is a stark depiction of underlying stagnation: paid work is not being created as population expands. Heroic efforts are being made to cloak the stagnation of the U.S. economy. One of these is to shift the unemployed work force from the negative-sounding joblesscategory to the benign-sounding Not […]
Failure to Launch
Failure to Launch The popular belief that the U.S. economy has been steadily recovering has endured months of disappointing data without losing much of its appeal. A deep bench of excuses, ranging from the weather to the Chinese economy, has been called on to justify why the economy hasn’t built up any noticeable steam, and […]
Is the Local Economy the Solution to a Post-Capitalist World?
Is the Local Economy the Solution to a Post-Capitalist World? In his new book, Michael Shuman debunks many of the myths around economic development. Think local. Buy local. Support your local community. Community investment. This all makes sense, right? Right. Then why do so many government-funded economic development programs get this wrong? According to community economics […]
Canada’s economy: 5 reasons not to panic
Canada’s economy: 5 reasons not to panic Cheap gas, solid hiring and a strong housing market help Canadians weather the financial storm A recent spate of frightening economic headlines paints a dire picture of the economy, but an examination of some basic gauges of Canadians’ financial health demonstrates it’s not all doom and gloom. TSX, Dow charge higher as […]
Does Capitalism Cause Poverty?
Does Capitalism Cause Poverty? Capitalism gets blamed for many things nowadays: poverty, inequality, unemployment, even global warming. As Pope Francis said in a recent speech in Bolivia: “This system is by now intolerable: farm workers find it intolerable, laborers find it intolerable, communities find it intolerable, peoples find it intolerable. The earth itself – our sister, Mother […]
Cincinnati’s experiment with an economy that works for everyone
With the 2016 presidential campaigns underway, economic populism has taken center stage. Bernie Sanders, calling for a $1 trillion investment in a sustainable infrastructure jobs program along with publically funded health care and college education, has forced Hillary Clinton to offer vague support for similar measures, while even some Republican candidates, like Marco Rubio, have asserted the need to stop the “fall […]
A Prescription for Peace and Prosperity
A Prescription for Peace and Prosperity The question is often asked: “What can we do?” Here is a prescription for peace and prosperity. We will begin with prosperity, because prosperity can contribute to peace. Sometimes governments begin wars in order to distract from unpromising economic prospects, and internal political stability can also be dependent on […]
The Cost of Stagnation: We’re Living in Limbo
The Cost of Stagnation: We’re Living in Limbo This erosion of opportunities to complete life’s stages and core dramas is rarely recognized, much less addressed. The idea that human life subdivides rather naturally into stages is based on our natural progression from childhood into adulthood and eventual (if we’re lucky) old age. Confucian thought views […]
The Big Bad Bear Case
The Big Bad Bear Case My aim with this article is to outline, with facts, large global structural issues that I believe everyone, bulls and bears alike, should be fully aware of. While some of this discussion may rattle the cage a bit you will hopefully find this article well researched and informative. Recently I’ve outlined […]
The Media Is Wrong About The Fed
The Media Is Wrong About The Fed Earlier this year, most of the financial stories were about how the Fed will start to raise interest rates in June. Much of this speculation was due to the lower unemployment rate, and the expectation that the U.S. economy would be in full recovery. This past Wednesday, the Fed […]
