It's budget season everywhere, and it's all about debt and deficits and the elusive quest to balance the beast, which can only be done, it is said, by cutting services or raising taxes.
bank of canada
The Bank of Canada released their January 2013 Monetary Policy Report. Several key points in the January MPR reinforce what progressive economists have been saying about the Canadian labour market.
Canada's banking system demonstrates the virtues of interventionist and flexible government regulation and public ownership. These features long pre-date the election of our current government.
Mark Carney's tenure as Governor of the Bank of Canada overlaps some challenging economy history. We are still living that history in terms of a post-recession stagnant recovery.
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 most interesting comments from Mark Carney last week, in releasing the Bank's semi-annual Monetary Policy Report, dealt with the relationship between the price of oil and the Canadian currency.
Our own finance minister, Jim Flaherty, along with Mark Carney, the Governor of the Bank of Canada, recently came out strongly in opposition to a modest proposal to regulate the U.S. banking system.