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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 […]
The Most Important Chart in Economics?
The Most Important Chart in Economics? Earlier this month, the U.S. Federal Reserve quietly released the Financial Accounts of the United States. Like most government data, the 198-page report (known to insiders as the Z1) is almost impossible to understand. However, to the economists and accountants who wade their way through the mess, the implications are […]
No “Poloz Put?” Ignore BoC Warning At Your Peril
No “Poloz Put?” Ignore BoC Warning At Your Peril Governor Stephen Poloz’s warning last week that the Bank of Canada wouldn’t backstop fluctuating stock markets drew little attention. “Is there a Poloz Put?” the central bank head asked rhetorically. “No.” At first glance, the fact that only one BNN Bloomberg producer and a few smaller […]
Trump buys into the Krugman con
Trump buys into the Krugman con Leading economic indicators suggest that the Republicans are headed into the fall mid-term election season with the wind at their backs. Real GDP growth hit 4.1% during the second quarter. The unemployment rate recently slipped to 3.9%, and the US Federal Reserve is finally starting to meet its inflation […]
Canada’s crazy Libertarians want to legalize lemonade stands, baby-walkers and Bitcoin
Canada’s crazy Libertarians want to legalize lemonade stands, baby-walkers and Bitcoin Maxime Bernier’s near-win of the Conservative Party leadership suggests that Canadians increasingly are tempted by smaller government. But maybe Bernier is in the wrong party. So says Tim Moen, the dynamic leader of the Libertarian Party of Canada, whose upcoming convention, will take place […]
Is the U.S. in a depression? (How John Williams became America’s most important statistician)
Is the U.S. in a depression? (How John Williams became America’s most important statistician) America’s economy has been progressing steadily. First quarter real GDP growth came in 2.2%. The official unemployment rate is 3.8%. Inflation, according to the Fed’s preferred measure is 2%. But how accurate are those numbers? “Nonsensical,” says John Williams, founder of […]
Poloz to Queen’s University debt slaves: don’t worry about the “poverty effect”
Poloz to Queen’s University debt slaves: don’t worry about the “poverty effect” Kingston – Bank of Canada Governor Stephen Poloz got a warm welcome following a key policy presentation at his alma mater last week “These are exciting times,” Poloz told a large crowd at Queen’s University . “Students here will shape the future. I […]
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 […]
Stephen Poloz Right To Be Worried
Stephen Poloz Right To Be Worried Bank of Canada governor Stephen Poloz cited numerous worries plaguing the economy during his speech to Toronto’s financial elites yesterday at the prestigious Canadian Club. However, the title of Poloz’s presentation, “Three things keeping me awake at night” seemed odd, given positive recent Canadian employment, GDP and other data. […]
Kotlikoff: America in Worse Financial Shape than Russia or China – Peter Diekmeyer
Kotlikoff: America in Worse Financial Shape than Russia or China America’s 2017 fiscal gap will come in near $6 trillion, nine times higher than the $666 billion deficit announced by the US Department of the Treasury last week, says Laurence Kotlikoff, an economics professor at Boston University. “Our country is broke,” says Kotlikoff, who estimates […]
Richard Sylla: 70% to 80% Chance of Another Global Financial Crisis
Richard Sylla: 70% to 80% Chance of Another Global Financial Crisis When Janet Yellen, Chairman of the US Federal Reserve, said in June that she does not expect another financial crisis in our lifetime, eyebrows were raised. None more so than Richard Sylla’s. Sylla, a professor emeritus at the Stern School of Business and co-author […]
An Accountant Smells a Rat – Peter Diekmeyer
An Accountant Smells a Rat – Peter Diekmeyer Twenty years ago Doug Noland was so worried about imbalances surrounding the dot.com boom that he began to title his weekly reports “The Credit Bubble Bulletin. Years later, he warned the world about the impending 2008 crisis. However a coming implosion, he says, could be the biggest […]
Bank of Canada Shuts Out Free Market Economists from Key Policy Conference – Peter Diekmeyer
Bank of Canada Shuts Out Free Market Economists from Key Policy Conference – Peter Diekmeyer Next week’s Bank of Canada policy conference appears set to deliver standard talking points. Not a single free market economist has been invited and a BOC spokesperson confirmed that the alternative-financial press is also being shut out. The BOC […]
