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“We Haven’t Seen This Is In Our Lifetimes” – CEO Says “Alberta Is In A Depression”
“We Haven’t Seen This Is In Our Lifetimes” – CEO Says “Alberta Is In A Depression” Regular readers know that we’ve covered Alberta’s decline at length (refresher here), so there is no need to give much of a backstory other than to say that the situation seems to get worse for the Canadian province as each […]
NEB approves Enbridge Line 3 pipeline replacement
NEB approves Enbridge Line 3 pipeline replacement Conditions include consultation with First Nations Enbridge is proposing to replace its Line 3 pipeline from Hardisty, Alta., to Superior, Wis. If approved, it will approximately double the amount of oil shipped daily. (Canadian Press) The National Energy Board will allow Enbridge to replace an aging pipeline across the […]
Asset Recycling – Robbing Pensions to Cover Govt. Costs
Asset Recycling – Robbing Pensions to Cover Govt. Costs We are facing a pension crisis, thanks to negative interest rates that have destroyed pension funds. Pension funds are a tempting pot of money that government cannot keep its hands out of. The federal government of Canada, for example, is looking to reduce the cost of […]
The “Unequivocally” Divided States Of Canadian Consumers
The “Unequivocally” Divided States Of Canadian Consumers Canada has never been more divided. With Vancouver being taken over by the rich Chinese, and Calgary nearing depression, roles have been dramatically reversed across Canadian provinces as spending in non-energy-producing regions hits a record high relative spending in those dependent on oil… Home prices show the divide between Canada’s […]
Justin Trudeau: Just Another Quantum Politician?
Justin Trudeau: Just Another Quantum Politician? Like many other world leaders, PM shows how to be true and false at the same time. Cartoon by Greg Perry. It was great theatre: The good-looking Canadian prime minister, standing before a blackboard full of equations, taking a spitball question about quantum computing and belting it out of the park. […]
Gov’t Using Misleading Accounting at BC Hydro, Charges Dix
Gov’t Using Misleading Accounting at BC Hydro, Charges Dix Minister counters that ‘rate-smoothing’ accounts make sense due to 10-year plan for rate increases. BC Hydro transmission tower on Mt. Seymour. Photo by agaumont from Your BC: The Tyee’s Photo Pool. The British Columbia government has chosen to use misleading accounting at BC Hydro to fudge the province’s finances […]
House affordability improving in some parts of Canada, National Bank says
House affordability improving in some parts of Canada, National Bank says Mortgage rates probably won’t be dramatically changed by the Bank of Canada’s benchmark overnight rate, economists say. (Sean Kilpatrick/Canadian Press) Amid the continuing escalation in housing prices in the Vancouver and Toronto areas, there are some places in Canada where home affordability is improving, […]
Canada’s Financial Sector just Crapped on its Bondholders, Hoping They Don’t Care
Canada’s Financial Sector just Crapped on its Bondholders, Hoping They Don’t Care To heck with the dreams of its bondholders. Great-West Lifeco, a Canadian financial services conglomerate which operates subsidiaries in Canada, the US, Europe, and Asia – including Putnam Investments in the US – and with over $1 trillion in consolidated assets under management, […]
Stéphane Dion approves export permits for $11B in LAVs to be sent to Saudi Arabia
Stéphane Dion approves export permits for $11B in LAVs to be sent to Saudi Arabia Documents say past sales have not been linked to violations of civil or political rights in the kingdom Documents obtained by CBC News are shedding light on the strategy the federal government is using to justify the sale of light […]
Apple crop under threat after cold snap follows early spring
Apple crop under threat after cold snap follows early spring Warm weather caused apple trees to start budding earlier than normal, and the fruits are now in danger by the cold snap that followed. (Pascal Rossignol/Reuters) Apple farmers in the East worry the late-season Arctic blast could take a big bite from their budding crops. […]
Royal Bank and BMO defend Canada’s banking sector amid Panama Papers and Fintrac fine
Royal Bank and BMO defend Canada’s banking sector amid Panama Papers and Fintrac fine Bad week for big banks as tax haven discussion hits at same time as fine levied for lack of disclosur It has been a rough week, reputationally for Canadian banks, but fundamentally they remain among the world’s best. (Mark Blinch/Reuters) The […]
Canada goes full Krugman. Finance minister jacks up borrowing and spending, confirms gold sale – Peter Diekmeyer
Canada goes full Krugman. Finance minister jacks up borrowing and spending, confirms gold sale – Peter Diekmeyer Bill Morneau took centre stage last week in the Canadian Parliament and didn’t disappoint. The new Liberal finance minister’s first budget jacked up program spending across the board, to be paid for by borrowing and, eventually, presumably, money […]
For Canada’s Banks This Is “The Next Shoe To Drop”, And Why It Will Drop This Spring
For Canada’s Banks This Is “The Next Shoe To Drop”, And Why It Will Drop This Spring Roughly around the time the market troughed in early February, we asked “After The European Bank Bloodbath, Is Canada Next?” The reason for this question was simple: we said that “when compared to US banks’ (artificially low) reserves […]
Vancouver, Toronto home buyers not ‘reckless,’ just numerous
Vancouver, Toronto home buyers not ‘reckless,’ just numerous National Bank economist says household formation, not speculation, is driving up prices National Bank economist says even Vancouver apartments may not be overvalued by world standards. (Canadian Press) First-time buyers looking to take the home-ownership plunge in Vancouver and Toronto, Canada’s two hottest markets, are far from […]
Study: Fracking, Not Just Fracking Wastewater Injection, Causing Earthquakes in Western Canada
Study: Fracking, Not Just Fracking Wastewater Injection, Causing Earthquakes in Western Canada A groundbreaking study published today in Seismological Research Letters has demonstrated a link, for the first time, between hydraulic fracturing (“fracking”) for oil and gas and earthquakes. Hydraulic Fracturing and Seismicity in the Western Canada Sedimentary Basin” confirms the horizontal drilling technique (which in essence […]
