This guest blog post has been written by Louis-Philippe Rochon.
You can follow him on Twitter @Lprochon
Harper’s recent incarnation as an anti-terrorist crusader has caught many Canadians by surprise. Harper is spending considerable political energy beating the drums of war against terrorists, and introducing a far-reaching, and much condemned, bill aimed at restricting . . . → Read More: The Progressive Economics Forum: ROCHON: Harper in closet over the economy as Canada heads toward another recession
When it comes to global warming, the Intergovernmental Panel on Climate Change notes that what matters is the total volume of greenhouse gas emissions going forward. This amounts to about 30 years of emissions at current levels – a global carbon budget that would provide the world a 66% chance of staying below 2°C. There . . . → Read More: The Progressive Economics Forum: Financial Risk and Alberta’s Tar Sands
Under the headline “Canada Isn’t Rotten to the Core”, the new editor of the Ivey Business Journal, Thomas Watson, attacked my book “Thieves of Bay Street” in his inaugural editorial. Although the book hit bookstores almost two years ago, and has faded from view, I found this assault so distorted to what “Thieves” explores I . . . → Read More: The Progressive Economics Forum: Intellectual Dishonesty at the Ivey Business Journal
Here is a very intriguing and creative entry in our continuing series of commentaries marking the 50th Anniversary of the publication of Mel Watkins’ classic article, “A Staple Theory of Economic Growth.” We are delighted to have the participation of Alistair and Sheila Dow, two leading heterodox economists from the U.K. They argue here, in . . . → Read More: The Progressive Economics Forum: The Staple Theory @ 50: Alistair and Sheila Dow
The recent report of the Intergovernmental Panel on Climate Change (IPCC) should be a wake-up call for Canada. With a development model based on ever more fossil fuel extraction, Canada’s economy and financial markets are on a collision course with the urgent need for global climate action.
The IPCC, for the first time, stated an . . . → Read More: The Progressive Economics Forum: Global carbon budget is a harsh reality check for Canadian investors
An oped based on my and Brock Ellis’ recent report, Canada’s Carbon Liabilities, was published in iPolitics (alas, behind a pay wall):
Canada’s economic development model is on a collision course with the urgent need for global climate action. Worldwide, extreme weather events from drought to floods to powerful storms and record-breaking temperatures are making . . . → Read More: The Progressive Economics Forum: Are Canadian investors headed for a carbon cliff?
By: Canadian Centre for Policy Alternatives | Press Release: OTTAWA – Canada’s economy is experiencing a “carbon bubble” that could have significant consequences for Canada’s financial markets and pension funds, according to a new study released March 26 by the Canadian Centre for Policy Alternatives. Between two-thirds and four-fifths of known […]
The post Fossil . . . → Read More: The Canadian Progressive | News & Analysis: Fossil fuel divestment necessary to avoid “carbon bubble”, says study
Divestment from fossil fuels is an idea whose time has come. Sparked by Bill McKibben’s Rolling Stone article last summer, “Global Warming’s Terrifying New Math”, divestment campaigns are now up and running on over 300 university campuses in the US, with 4 early victories already notched. Students in Canada have declared tomorrow (March 27) Fossil . . . → Read More: The Progressive Economics Forum: Carbon bubbles and fossil fuel divestment
Canadians are now more indebted than either Americans or the Brits at the peak of their housing bubble. Statistics Canada today revised the national accounts. The result on the household debt front was that instead of Canadian households having a debt to disposable income ratio of 154, it has now been revised upwards to 166.
. . . → Read More: The Progressive Economics Forum: Household debt going from bad to worse
Readers of this blog will have hopefully read my report “The big banks big secret” which examines the $114 billion that Canada’s banks received during the 2008-09 financial crisis. Its major finding was that at some point three of Canada’s five big banks had received support worth more than their market capitalization, or the value . . . → Read More: The Progressive Economics Forum: Complete details of 2008-09 Bank Support
The CCPA today released my report: “The Big Banks Big Secret” which provides the first public estimates of the emergency funds taken by Canadian banks. The report bases its estimates on publicly available data from CMHC, the Office of the Superintendent of Financial Institutions, US Federal Reserve, the Bank of Canada, as well as quarterly . . . → Read More: The Progressive Economics Forum: The Big Banks’ Big Secret
This past weekend (March 31st), Sino-Forest Corp. announced it was filing for bankruptcy protection. The Chinese-Canadian company, once the largest publicly-traded forestry firm on the TSX, collapsed under allegations it was nothing more than a sophisticated fraud and Ponzi scheme. Sino-Forest’s demise wiped out about $6-billion in shareholders’ value, making it a catastrophe on par . . . → Read More: The Progressive Economics Forum: Stock Market Swindles Galore