The banks were absolutely stabilized, and possibly saved, by extraordinary government interventions. Whether you call that a bailout or a "liquidity injection" is all in the semantics.
The third-quarter GDP numbers are pretty upbeat on the surface but affirm that Canada's entire economic trajectory is being increasingly dominated by fossil fuel exports.
If his government really wants to internalize Canadian household wisdom, Jim Flaherty should go shopping and take out a second mortgage on the Parliament Buildings.
The OECD's new assessment of the macro-economic situation makes for pretty grim reading. And their forecast is based on an increasingly incredible view that the Eurozone will "muddle through."
The labour market is in much worse shape than the official 7.3 per cent unemployment rate implies. The latest evidence for this is a miserable report on employment and earnings from Statistics Canada.
Ironically, the more vigorously we have pursued the holy grail of self-adjusting markets in Canadian economic and social policy, the worse our productivity and innovation has been.
Occupy protesters marched on local branches of banks, so participants could close their accounts, and others could hold teach-ins to discuss the problems created by these unaccountable institutions.
After only two months, the Occupy movement -- without backing from billionaires or governments -- seems to have moved us into a new era. Not bad for a leaderless group that sleeps in tents.
Many tenets of neoclassical orthodoxy have fallen by the wayside in the past 3 years, but one of the biggest dominoes is that inflation targeting should be the exclusive focus of monetary policy.
A year ago, I posted "What are the game changers?", an attempt at sparking some strategic thinking for the left. After a month of Occupation, I want to put some of these ideas back on the table.