$12 billion. That number keeps popping up in debates about the CETA. It's the increase in Canadian GDP the federal government claims will result from the deal.
However misguided or disproven, the doctrine of austerity prevails in Ottawa. For pursuing this austerity agenda, Europe and the U.S. are paying the price in stagnation and unemployment.
The promise that free trade would induce more trade, productivity growth and higher incomes is not remotely supported by the aggregate economic data.
At times, the Fraser Institute produces such helpful material, including three recent reports. I hope they make their well-heeled funders, such as the multi-billionaire Koch brothers, proud.
A post-carbon world represents the future, not more over-investment in bitumen production. In Canada, we should be establishing our own public enterprises to develop and manage resources sustainably.
The dollar rising with the oil price is merely a confirmation that most financial traders think the same way -- not confirmation that Canada's "fundamentals" have been enhanced by higher oil prices.
For novelty value if nothing else, Bank of Canada Governor Mark Carney's appearance at the CAW convention last week was bound to spark lots of attention.
When even the governor of the Bank of Canada is talking about inequality and the unfairness of privatizing gains and socializing losses, we know we have gone badly wrong in our economic thinking.
Kudos to Bank of Canada Governor Mark Carney for raising the profile of the over $500 billion Canadian corporations are holding in excess cash surpluses and not investing in the economy.
The view that wages are "too high" boils down to saying that workers have no right to share in rising national income, all of which should go to profits and senior managers.