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Canada’s “Enron-style” Economics: Most Wealth Redistribution Occurs Off the Books
Canada’s “Enron-style” Economics: Most Wealth Redistribution Occurs Off the Books The Trudeau Administration’s reappointment of Bill Morneau as the country’s Finance Minister last week was by far its most important. During his first term, Morneau managed to hold together a shaky Canadian economy, which for the past three decades has relied on driving borrowing and […]
Morneau is Flying Blind
Morneau is Flying Blind The Trudeau Government continues to resist calls for an overhaul of its complex tax regime. Yet Bill Morneau, Canada’s Minister of Finance, who was in town this week to address the Montreal Chamber of Commerce, wouldn’t name a single non-accountant that he knew who understands tax code. Pressed by local media, […]
Generation Screwed to Morneau: stop shoveling government debts on Canada’s kids
Generation Screwed to Morneau: stop shoveling government debts on Canada’s kids Bill Morneau, Canada’s Minister of Finance, told a touching story recently about being alone while his daughters were away at university. A poster about women’s rights that he saw in one of the girls’ rooms as he toured the empty house provided inspiration […]
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 […]
Canada due for debt crisis and recession, economist argues
Canada due for debt crisis and recession, economist argues Credit growth has to stop at some point, and then economy shrinks, argues Steve Keen Finance Minister Bill Morneau has just delivered a budget that will put Canada deeper in debt. A Forbes columnist argues that puts Canada on track for a credit crisis. (Sean Kilpatrick/Canadian […]
World watching as Canada casts aside austerity and gambles on a fiscal surge
World watching as Canada casts aside austerity and gambles on a fiscal surge A global economic debate plays out in Canada as our government goes from miser to spendthrift Canada’s Prime Minister Justin Trudeau and Finance Minister Bill Morneau are taking Canada into unknown waters, betting that spending will do what austerity has not. (Reuters) […]
Liberal fiscal plans less transparent than under Harper, Kevin Page says
Liberal fiscal plans less transparent than under Harper, Kevin Page says Kevin Page, Canada’s former parliamentary budget officer, says the Liberal government is even less transparent on fiscal matters than their Conservative predecessors. (Sean Kilpatrick/Canadian Press) Listen 9:40 Canada’s former parliamentary budget officer says the Liberal government is even less transparent on fiscal matters than the Conservative […]
Canada’s new deficit plan is trouble
Canada’s new deficit plan is trouble Yesterday Federal Finance Minister Bill Morneau announced the projected deficit for 2016-17 is now $18.4 billion. This amount does not include $10.5 billion in new spending promised by the Liberals during the election campaign. When the budget is delivered in one month’s time it is foreseeable the total deficit […]
New mortgage rule might ‘temper’ hot markets, but not for long
New mortgage rule might ‘temper’ hot markets, but not for long Starting Feb. 15, mortgage insurers require 10% down payment on portion of mortgages above $500K Vancouver and Toronto saw real estate prices, particularly for detached and semi-detached home, continue to rise last year. Most other markets saw only modest increases, or even decreases in […]
