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Canada’s Fourth Largest Bank Erases $1 Billion In Excess Capital In Unexpected Accounting Gimmick
Canada’s Fourth Largest Bank Erases $1 Billion In Excess Capital In Unexpected Accounting Gimmick Early in 2016, when oil prices were plunging and when US banks were careful to push up their loan loss reserves to exposed E&P loans, we noted something surprising: Canadian banks had barely taken any loss reserves to their exposure in the […]
Canada Moves To Burst Housing Bubble, Closes Foreign-Buyer Loophole
Canada Moves To Burst Housing Bubble, Closes Foreign-Buyer Loophole In a move which many Canadians, especially those who have been persistently priced out of the housing market, welcomed with open arms, overnight Finance Minister Bill Morneau unveiled new measures aimed at slowing the flood of foreign money pouring into overheated housing markets like Vancouver and […]
In September, Did the Liberals Out-Harper the Conservatives?
In September, Did the Liberals Out-Harper the Conservatives? On climate, foreign workers, and unions, Trudeau government moves this month have rankled progressives. At home recently, the Trudeau government’s actions have left many progressive Canadians feeling frustrated and misled. Photo by Chris Wattie, Reuters Media Express. The key players in Stephen Harper’s government would have been high-fiving […]
Dakota Pipeline Struggle Between the ‘People’ and the ‘Powerful’ Remains Underreported
Dakota Pipeline Struggle Between the ‘People’ and the ‘Powerful’ Remains Underreported Angela Miracle Gladue, a member of the Frog Lake First Nations, a Cree community in Edmonton, Canada, attends a rally in support of the Standing Rock Sioux Tribe and in opposition to the Dakota Access oil pipeline. The event was in Lafayette Park […]
Federal books in $2.8B deficit over first four months of fiscal year
Federal books in $2.8B deficit over first four months of fiscal year Ottawa ran $1.8B deficit in July Between April and July of this year, federal revenues were $2.3 billion lower compared with last year, while program expenses were $6.5 billion higher. (Adrian Wyld/Canadian Press) New numbers released Friday show the federal government ran a […]
Foreign Buying Plummets In Vancouver: Sales To Foreigners Crash 96%
Foreign Buying Plummets In Vancouver: Sales To Foreigners Crash 96% China’s favorite offshore money laundering hub is officially no longer accepting its money. According to data released by British Columbia’s Ministry of Finance on Thursday, foreign investors officially disappeared from Vancouver’s property market last month after the local government imposed a 15% surcharge to curb a […]
Premier Clark on ‘Historic Debt Binge,’ Says Conservative Leader
Premier Clark on ‘Historic Debt Binge,’ Says Conservative Leader ‘Debt-free BC’ 2013 campaign promise called unrealistic, simplistic. Clark promised LNG revenue would mean ‘debt-free BC.’ Instead, debt up 45 per cent during her tenure. David P. Ball Premier Christy Clark won the provincial election in 2013 promising a “Debt-Free BC,” but an opponent now accuses her […]
Secret Bans, Secret Trials: The Canadian ‘No-Fly’ Lists
Secret Bans, Secret Trials: The Canadian ‘No-Fly’ Lists First in a series to help you participate in the federal consultation on national security. Protesters opposing Bill C-51 in Vancouver last year. Now they can tell the government what changes are needed. Jeremy Board, Creative Commons licensed. [Editor’s note: The federal government’s consultation on national security provides a rare […]
The Pension Crisis is Global
The Pension Crisis is Global The worldwide pension crisis is the next great notch in the belt of the collapse of socialism. If anyone in the private sector promised workers pensions and did not fund them, they would go to jail and be labelled as a fraud. Yet, this is standard operating procedure for government. […]
Chart Of The Day: The LBO Up North——-Canada’s Household Debt Ratio Goes Parabolic
Chart Of The Day: The LBO Up North——-Canada’s Household Debt Ratio Goes Parabolic
Loonie Tumbles After Canadian Inflation, Retail Sales Plunge
Loonie Tumbles After Canadian Inflation, Retail Sales Plunge A slew of disappointing data out of Canada has sent the Loonie tumbling this morning (despite higher oil prices). Canadian Retail Sales and Inflation data missed across the board… Multi-year lows in CPI, Core CPI, and Retail Sales… And the result is a tumbling Loonie as expectations of […]
Canadian Housing Bubble, Debt Stir Financial Crisis Fears
Canadian Housing Bubble, Debt Stir Financial Crisis Fears Their bone-chilling chart. Everyone is fretting about the Canadian house price bubble and the mountain of debt it generates – from the IMF on down to the regular Canadian. Now even the Bank for International Settlement (BIS) and the Organization for Economic Co-operation and Development (OECD) warn about […]
Privacy Advocates Fear Bill C-51 Consultations Will Be Skewed
Privacy Advocates Fear Bill C-51 Consultations Will Be Skewed Backgrounder on national security written to address policy concerns, not the public’s, says OpenMedia. The Liberal government has announced wide-ranging consultations on national security, including Bill C-51. Photo by Kent Lins, Creative Commons licensed. A Liberal government plan to hold public consultations on national security including changes […]
Global Recession? The Canadian Economy Shrinks At The Fastest Pace Since The Last Financial Crisis
Global Recession? The Canadian Economy Shrinks At The Fastest Pace Since The Last Financial Crisis Things have not been this bad for the Canadian economy since the last global recession. During the second quarter of 2016, Canada’s GDP contracted at a 1.6 percent annualized rate. That was the worst number in seven years, and it […]
