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Spin cycle: Can 1.3-million new jobs be created in 5 years?
Spin cycle: Can 1.3-million new jobs be created in 5 years? This election has a theme common to almost all others before it: everyone is promising more jobs The promise of jobs, jobs, and more jobs has long been a staple of election campaigns. NDP Leader Tom Mulcair has promised a basket of goodies to help […]
On the economy, politicians debate, central bankers decide
On the economy, politicians debate, central bankers decide Bank of Canada pushing stimulus; Conservatives, NDP talking austerity. Go figure The idea that a prime minister is the “steward of the economy” is a convenient bit of fiction, co-created by politicians and the journalists who cover them. It was an explicit theme of last night’s leaders’ […]
Time Bomb under Canada’s Housing Bubble Makes a Loud Tick
Time Bomb under Canada’s Housing Bubble Makes a Loud Tick The Bank of Canada has been fretting about the ballooning debt of Canadian households. Last year, it repeatedly called it a risk to “financial stability,” perhaps in preparation for raising its benchmark interest rate. Then Canada’s economy tanked. In July, when the freaked-out Bank of Canada cut […]
Foreign buyers driving demand for luxury homes, Sotheby’s says
Foreign buyers driving demand for luxury homes, Sotheby’s says Luxury housing segment ($4M+) is hotter than the overall market in Vancouver, Toronto International demand is expected to keep driving luxury real estate sales in Canadian cities for the rest of the year, according to a report from Sotheby’s International Realty. A faltering Chinese economy and […]
Federal Surplus Comes with Social Costs, Critics Say
Federal Surplus Comes with Social Costs, Critics Say Number of government departments ‘lapsing’ budgets up from 10 years ago: CCPA. If Canadians want to see how the federal government managed to reach a surplus for the 2014-15 fiscal year, they should think of veterans struggling with post-traumatic stress disorder and other wounds, said veterans’ advocate […]
Ecuador vs. Chevron, By Way of Canada
Ecuador vs. Chevron, By Way of Canada In the latest twist to a 22-year-old legal saga, Canada’s Supreme Court ruled on September 4th that Ecuadorian villagers can seek to enforce an Ecuadorian legal judgment in Canada for $9.5 billion against Chevron Corporation for polluting the Amazon rainforest. The plaintiffs were successful in arguing that since […]
For Canadian Oil Sands It’s Adapt Or Die
For Canadian Oil Sands It’s Adapt Or Die That low oil prices are squeezing out oil sands producers is not breaking news. But in spite of a grim oil price outlook, production out of Calgary has continued to grow, defying both expectations and logic. The implications are serious, not just for the future of Canada’s […]
Fall Election Presents Three Internet Privacy Futures
Fall Election Presents Three Internet Privacy Futures Here’s why Canadians should press candidates about warrantless data access. Warranted concern: This election could determine the future path of Canadian law on access to internet subscriber information. Canada’s controversial anti-terrorism bill, Bill C-51, has emerged as a key talking point in the current election campaign. Pointing […]
Oil Price Increase Will Not Come Fast Enough To Save Alberta
Oil Price Increase Will Not Come Fast Enough To Save Alberta “There’s just no cash.” That’s the Coles Notes from a senior banker describing the book of oil service loans he manages for one of Alberta’s leading lenders. There’s simply not enough cash flow to support current levels of debt. Bankers and borrowers have kicked […]
Goldman Sachs downgrades oil forecast, says $20 per barrel is possible
Goldman Sachs downgrades oil forecast, says $20 per barrel is possible Investment bank predicts average price of $45 a barrel next year, but lower isn’t implausible Goldman Sachs has bad news for anyone banking on the oil price rebounding any time soon, saying in a report that the price of crude could fall to $20 […]
Inside Ground Zero Of Canada’s Recession
Inside Ground Zero Of Canada’s Recession In the past year, we have extensively profiled the collapse of ground zero of Canada’s oil industry as a result of the plunge in the price of oil, in posts such as the following: “Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years“ “Canada’s Biggest Oil Casualty […]
So you really want to make Syrian Refugees an Election Issue?
So you really want to make Syrian Refugees an Election Issue? Thomas Pynchon once wrote: ‘If they can get you asking the wrong questions, they don’t have to worry about the answers.’ Words to live by for the the major political parties in Canadian Federal politics. The refugee crisis in Syria, Iraq and spilling into Europe […]
Burdened by debt and slipping behind, survey respondents say
Burdened by debt and slipping behind, survey respondents say 48% said they might be in trouble if a single paycheque was delayed Many working Canadians feel overwhelmed by debt and more than half of them say they would have difficulty if they missed a paycheque. They also are losing confidence in the economy, with only […]
Interest rate cuts a two-edged sword for Bank of Canada: Don Pittis
Interest rate cuts a two-edged sword for Bank of Canada: Don Pittis Another decrease could spur exports but would announce serious pessimism Conjure up an image of Bank of Canada governor Stephen Poloz in Hamlet pantaloons, hand to brow, declaiming to the middle distance: “To cut or not to cut?” A confusion of contradictory economic […]
Mede-Jean, Not Medellin
Mede-Jean, Not Medellin Driving the back streets of Medellin a few weeks ago I found it interesting to see the various little pockets to the city. In the poor parts of town I noticed on a couple of occasions taxi drives running their vehicles on empty. I’ve seen this before in countries where there is […]
