Numbers season is over but good inequality data is still missing. January sees us regularly bombarded with a whole range of economic statistics about the previous year. GDP growth: likely 1.7%, low but looking brighter for next year. Unemployment: 7.2%, low but lots of workers leaving the job market altogether as the employment rate stagnates. Inflation: 1.2%, low but deflation risks under control. “Low, but” is the theme of the year for the average Canadian. For the super-wealthy, however, the story is quite different. Indeed, if Canada had an official Luxury Index or reliable data on inequality, (Read more…)
Canada’s economy is set to grow less than the government thought, but it’s not our Prime Minister’s fault.
True under Stephen Harper the World Bank has downgraded Canada from being the 4th most Business Friendly country in 2006 to 17th in 2013, but, as most Conservatives know, businesses have nothing to do with the Canadian economy.
Yes, Stephen Harper was Prime Minister when the World Economic Forum said Canada is becoming less competitive, dropping in global ranking from 9th place in 2009 to 14th place in 2013, but our government can’t be responsible for federal regulations,
. . . → Read More: The Scott Ross: How A Bad Economy Is Not Harper’s Fault
In 2006 Canada was spending 2% of its Gross Domestic Product on R&D. In 2012 it will spend just 1.69%.
While a large portion of the decline is due to the business sector spending less on R&D, the current Conservative government has responded by cutting its own share of spending while also reducing incentives for businesses to increase theirs. Innovation is not just necessary for businesses to compete, it’s necessary for Canada to compete internationally. But with Canada spending 20% less than the OECD average on Research & Development the future looks bleak.
Hopefully Canada can do something about
. . . → Read More: The Scott Ross: Canada Is R&D-ing A Decline, With Graphs
“In this world nothing can be said to be certain, except death and taxes.” – Benjamin Franklin
The fiscal cliff in the United States did not just endanger its own country’s economy but the world’s, including Canada’s heavily dependent one. But in the American problem lies, at least partially, a Canadian solution: an estate tax.
The inability for Democrats and Republicans to prevent the fiscal cliff and the current uncertainty relating to the world’s largest economy is threatening the fledgling global recovery.
Canada, a country whose economy is always extremely vulnerable to external crises, is now only more so.
. . . → Read More: The Scott Ross: If A Fiscal Cliff Kills, Canada Should Tax Death
As a cyclist the fact that bicycle infrastructure helps business makes senses to me. Bike lanes encourage more cyclists which can bring more people to an area, drivers on the other hand seem to just keep driving though. I hope the backwards thinking politicians in Toronto see this study since they recently decided to waste money on cars at the expense of cycling.
Whether businesses reached out and made their locations more bicycle friendly, or streets were redesigned to include bike lanes, the overall outcome has been increased spending in local neighborhoods. Shoppers who arrive in urban neighborhoods via cars
. . . → Read More: Things Are Good: Bike Lanes Help Local Economies
Right before holidays is usually the greatest time to dumb documents that you don’t want to know about. Our Finance minister follows suit with this bad tradition, and dumb the bomb that Canada isn’t going to increase health care spending by 6% every year after 2017. Now for many people (including me) we all speculated even during the election that the Conservatives weren’t going to increase health care sending by the same 6% like Paul Martin did. The Conservative platform barely had a page on this issue. And the paragraph that is was written on was barely worth the paper it was printed on.
. . . → Read More: The Happy Wanderer: Flarethy’s Bomb Before the Holiday
Craig Alexander, TD’s chief economist – it pains me to reference a classic neoclassical bank economist – noted on Lang and O’Leary last night that Canada’s debt to income ratio is high less because of increasing debt and more because real wages are falling. So the deleveraging I mentioned a few posts back continues slowly, mitigating spending, and slipping wages continues, also mitigating spending. It looks like stagnation or deflation on the horizon, but in either case Canadians are still just swirling around in an economic whirlpool in which they could be sucked down at any moment.
. . . → Read More: Politics and Entertainment: The zombie-banker lives and roams the earth
The Conservatives are planning to find 4 billion in permanent cuts to try and balance the budget. The Only problem is do we see these cuts in the deficit? No the way this government works with finances the deficit isn’t going to get better. First the C… . . . → Read More: The Happy Wanderer: What Cuts?
With more fear with the stock market some people in the U.S have been asking for another stimulus or spending package. Although putting money into the economy will create jobs the U.S can’t afford it! Debt to GDP ratio is at 98%. The U.S doesn’t have m… . . . → Read More: The Happy Wanderer: Another Stimulus?
Last few years when the Dem’s held both houses the Republicans stood united against almost every single thing the Democrats proposed. The Republicans now are somewhat divided in passing Boehner plan. It seems the curse of being the party in power has n… . . . → Read More: The Happy Wanderer: Wow Republicans !
So crime rates continue to decline. Not just nuisance crimes and property crimes but also crimes where people get hurt or worse. And it’s been going this way for nigh on forty years. . . . → Read More: cmkl: Crime rates and government spending
Stephen Harper would like to cut 4 billion dollars in spending in order to help balance the budget. knowing Harper these cuts of course attacks agencies he is against like Environment Canada that will be getting a 21% cut this year. which is … . . . → Read More: The Happy Wanderer: Cut, Cut, Cut