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Is Canada Headed For Another Recession? Eight Troubling Signs
Is Canada Headed For Another Recession? Eight Troubling Signs A string of dire economic news since the beginning of 2015 has many observers worried about whether Canada could be on the brink of another downturn, but economists say it’s too soon to mention the “R-word.” One month in, layoffs seem to be the dominant theme […]
“The Stage Is Set For A Massive Housing Market Correction in Canada’s Oilpatch”
“The Stage Is Set For A Massive Housing Market Correction in Canada’s Oilpatch” Two weeks ago we reported that “the next victim of crashing oil prices has been identified: housing“, particularly non-residential construction among the energy producing regions, where the capex collapse reality is already being felt far and wide. Eventually, once the overall economy […]
‘Welcome Signs Of Cooling’ In Canada’s Overvalued Housing Markets: IMF
‘Welcome Signs Of Cooling’ In Canada’s Overvalued Housing Markets: IMF Canada’s housing markets will cool this year, leading to a more “balanced” economy — one that is not as dependent on growing consumer debt, the International Monetary Fund says. In a report released Friday, the IMF estimated house prices are overvalued by 7 to 20 per […]
Edward Snowden tells students mass data collection can hamper attempts to foil attacks
Edward Snowden tells students mass data collection can hamper attempts to foil attacks Video appearance of NSA whistleblower sparks debate at Upper Canada College U.S. National Security Agency whistleblower and international fugitive Edward Snowden told students at Upper Canada College that the mass collection of data by government spy agencies can get in the way of foiling […]
16% of oil and gas firms thinking of job cuts: Mercer survey
16% of oil and gas firms thinking of job cuts: Mercer survey Canadian industry harder hit because production and exploration more sensitive to falling price A survey of oil and gas companies throughout North America indicates a major pullback underway in the industry as they cut capital spending and reduce hiring in response to low […]
Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk
Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk Ratings agency Fitch had already warned about Canada’s magnificent housing bubble that is even more magnificent than the housing bubble in the US that blew up so spectacularly. “High household debt relative to disposable income” – at the time hovering near a […]
CANADA CASTS GLOBAL SURVEILLANCE DRAGNET OVER FILE DOWNLOADS
CANADA CASTS GLOBAL SURVEILLANCE DRAGNET OVER FILE DOWNLOADS Canada’s leading surveillance agency is monitoring millions of Internet users’ file downloads in a dragnet search to identify extremists, according to top-secret documents. The covert operation, revealed Wednesday by CBC News in collaboration with The Intercept, taps into Internet cables and analyzes records of up to 15 million downloads daily […]
Canada GDP shrinks, stirring talk of another rate cut
Canada GDP shrinks, stirring talk of another rate cut OTTAWA (Reuters) – Canada’s economy unexpectedly shrank by 0.2 percent in November, prompting market talk that the Bank of Canada will cut interest rates in March for the second time in six weeks. Analysts had expected no growth from October. The month-on-month decline was the largest since […]
Bill C-51 aims to ‘remove terrorist propaganda’ from internet
Bill C-51 aims to ‘remove terrorist propaganda’ from internet Free speech, privacy concerns raised about anti-terrorism bill’s internet clauses The anti-terrorism bill unveiled Friday by Prime Minister Stephen Harper includes a section that gives his government the power “to order the removal of terrorist propaganda” from the internet. That would still require a judicial order, […]
Mount Polley spill blamed on design of embankment
Mount Polley spill blamed on design of embankment Independent investigation finds foundation of earthen dam failed because of unstable underlying layers An independent investigation has determined the breach of the Mount Polley mine tailings dam in B.C. was caused by a failure to detect a weak layer in its foundation, likening the massive embankment to […]
Did Alberta Just Break a Fracking Earthquake World Record?
Did Alberta Just Break a Fracking Earthquake World Record? Hydraulic fracturing, a technology used to crack open difficult oil and gas formations, appears to have set off a swarm of earthquakes near Fox Creek, Alberta, including a record-breaking tremor with a felt magnitude of 4.4 last week. That would likely make it the largest felt […]
“Recipe for Disaster”: Canadian Government to Expand State Surveillance Powers (Again)
“Recipe for Disaster”: Canadian Government to Expand State Surveillance Powers (Again) The “spillover effects” of overbroad anti-terror legislation. We’ve long been lamenting the enormous and still utterly murky – despite the Snowden revelations – spy apparatus in the US that, in collaboration with Corporate America, stretches from many federal agencies to state and local agencies. It’s all there, […]
Loonie Plunges Through 80 Cents U.S. In Currency’s Biggest 2-Year Drop Ever
Loonie Plunges Through 80 Cents U.S. In Currency’s Biggest 2-Year Drop Ever The Canadian dollar fell through a psychologically important barrier Wednesday, trading for the first time in five years below 80 cents U.S. The loonie was hovering at 79.8 cents U.S. as of Wednesday afternoon, having followed oil prices downward for yet another day. […]
Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down
Oil and Real Estate Bubbles in Canada: What Goes up Won’t so Smoothly Come Down Five years ago, I noted how unsustainable Canadian economic growth is fuelled by debt, which is leveraged to increase the prices–and ‘profitability’–of assets like oil holdings and real estate. It might as well be called “phantom growth,” because it’s bound to disappear […]
