World commercial expansion is dependent on payments made in the U.S. dollar, a currency that all nations -- except the U.S. -- have to earn through export surpluses, or go into debt.
If Trump can rewrite international economic treaties on the strength of a few tweets, then we can do the same thing -- but only if we build a political movement with the same confidence and power.
Every five years the federal finance minister updates the "marching orders" that guide the Bank of Canada and its conduct of monetary policy. The time is right for some new thinking.
In a slowing global economy, eyes turned to Shanghai where G20 finance ministers and central bankers sat down February 26-27 to assess the worsening outlook, and agree on what to do together.
The falling dollar is what drives Canadian economic policy today. This may come as news to Canadians, because it has not been announced by the Trudeau government.
While elites argue amongst themselves about how to respond to Canada's soured economic outlook, the overriding context is a transfer and concentration of economic power upwards.
Was there any concrete economic reason for Stephen Harper to call Bank of Canada Governor Stephen Poloz this week, as global stock markets continued their gyrations? Not really, no.
The Bank of Canada cut its benchmark interest rate to nearly record lows, now just 0.5 per cent. The move reflects a poverty of economic policy from the ruling Conservatives.
A central banker that feels the need to defend himself is never a good thing. It leaves the impression of someone who second-guesses himself. Is it time for Stephen Poloz to remain quiet?
This budget, full of accounting tricks, will do very little to revive Canada's moribund economy, and it contains far less in terms of good news for working Canadians.