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Halifax Superstores warn of short supply due to weather, dollar
Halifax Superstores warn of short supply due to weather, dollar Grocery bills likely will go up in 2016 due to vegetable and fruit prices, a report says Inflation is modest at 1 per cent, but the price of fresh vegetables was up 11.5 per cent in September, Statistics Canada said. (Jacques Boissinot/Canadian) Some grocery stores […]
Canadian dollar on track for 2nd-worst year ever
Canadian dollar on track for 2nd-worst year ever Currency is down 17% year-to-date against the U.S. currency The Canadian dollar hasn’t been at par with the U.S. dollar for three years. This year, the loonie’s slide against the American dollar was one of the biggest ever. (Mark Blinch/Reuters) The word “beleaguered” — often used to describe […]
As We Adapt to Climate Change, Who Gets Left Behind?
As We Adapt to Climate Change, Who Gets Left Behind? A new documentary shows planning options to mitigate a new climate, but questions about the global South are largely ignored. Climate change is a global process that plays out on the ground in dramatically different ways based on where, and how, we live on that […]
They’re Killing the Peace River Valley Now
They’re Killing the Peace River Valley Now The $9 billion flaying, then drowning of a fertile zone has begun. We still don’t know why. Photos by Garth Lenz. Last month the B.C government commenced the destruction of the fertile Peace River Valley, awarding a civil works contract worth $1.5 billion as construction crews methodically denuded […]
Why Are People Cheering Alberta’s Climate Plan?
Why Are People Cheering Alberta’s Climate Plan? Notley didn’t slay province’s CO2 dragon. She blinked, aiding pipelines and bitumen. Albert Premier Rachel Notley: on close inspection, her NDP government’s plan is geared to warming public to new pipelines. Photo: Dave Cournoyer via Flickr. Creative Commons licensed. I had to do a bit of a personal […]
TPP a Gift to Plutocrats? Canada’s Trade Minister Wrote the Book on Them
TPP a Gift to Plutocrats? Canada’s Trade Minister Wrote the Book on Them As journalist, Chrystia Freeland chronicled global wealth dividers. Chrystia Freeland’s financial journalist credentials made her a star candidate for the Liberals. Photo: Joseph Morris. Creative commons licensed. Canada’s new trade minister has sitting on her desk the sweeping Trans-Pacific Partnership, a deal some […]
The Next Domino: CANADA
The Next Domino: CANADA The Federal Reserve has kept its zero interest rate policy (‘ZIRP’) for several years (and much longer than originally anticipated) whilst the European Central Bank seems to be getting serious about doing ‘better’ and has now reduced the deposit rate at the ECB to -0.30%. It’s already remarkable a central bank doesn’t seem […]
U.S. Not Prepared for Tar Sands Oil Spills, National Study Finds
U.S. Not Prepared for Tar Sands Oil Spills, National Study Finds Report urges new regulations, research, and technology to respond to spills of diluted bitumen. Photo courtesy Sam LaSusa Oil gathers in a sheen near the banks of the Kalamazoo River more than a week after a spill of crude oil, including tar sands oil, […]
Bank of Canada Crushes Loonie, Creates Mother of All Shorts
Bank of Canada Crushes Loonie, Creates Mother of All Shorts Clear winners: rich Chinese who buy homes in Canada. The Canadian dollar swooned 1% against the US dollar on Friday, to US$0.7270, after having gotten hammered for the past six of seven trading days. It’s down 5% in November so far, 15.5% year-to-date, and 31% from its […]
Stephen Poloz Considers Negative Interest Rates
Stephen Poloz Considers Negative Interest Rates Price controls on interest rates are the latest fad. A 100-year-trend that’s picked up steam in the last 15 years, where central banks have been confident enough to blatantly ignore the supply and demand for loans and keep rates as low as possible. How low can you go? For […]
Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40
Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40 Not helped by weakness in China trade data, questions over global growth and inflation expectations are growing. Oil-exporting nations (and growth-linked currencies) are getting monkey-hammered… Just when traders thought the bottom was in… As Reuters notes, with lower oil prices likely to add to global deflationary […]
Canada Just Warned That Negative Interest Rates Are Coming
Canada Just Warned That Negative Interest Rates Are Coming Moments ago, the Bank of Canada’s chief finally said what we had been patiently waiting for over the past several months: admission that Europe’s experiment with negative rates is about to cross the Atlantic. From Market News: BOC POLOZ: NOW SEES EFFECTIVE LOWER BOUND FOR POLICY RATE […]
Guess What Happened The Last Time The Price Of Oil Plunged Below 38 Dollars A Barrel?
Guess What Happened The Last Time The Price Of Oil Plunged Below 38 Dollars A Barrel? On Monday, the price of U.S. oil dropped below 38 dollars a barrel for the first time in six years. The last time the price of oil was this low, the global financial system was melting down and the […]
Suicides In Alberta Soar In Wake Of Canada’s Oilpatch Depression
Suicides In Alberta Soar In Wake Of Canada’s Oilpatch Depression Over the past year, we have extensively chronicled the tragic story of Alberta – Canada’s once booming oilpatch – disintegrate slowly at first, then very fast, into an economic and financial wasteland: “Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years” “Canada’s Biggest […]
Canada’s Indigenous Bands Rise Up Against a Tar Sands Pipeline
Canada’s Indigenous Bands Rise Up Against a Tar Sands Pipeline TransCanada, the company behind the now-defunct Keystone XL, is proposing another pipeline that would ship Alberta tar sands oil to Canada’s Atlantic coast. But fierce opposition from First Nation communities could derail this controversial project. Sitting in his office on the outskirts of Montreal, Serge Otis […]
