Articles Tagged ‘Economy’

  • Canada’s Five Giant Banks Ought to Be Nationalized, Not Bailed Out

    Canadian Business

    Canada’s banking system is on the edge of a crisis, once again, with a collective debt of $1.8 trillion — and the public will be on the hook for most of it, sooner than most think. Last week, the Bank for International Settlements said Canada, Hong Kong and China’s banking systems are the world’s most at-risk of a severe crisis. BIS joins the IMF, Moody’s and S&P Global Ratings in warning record-high consumer debt could tank Canada’s “five giants,” in the case of a downturn.

  • The Very Best Day

    Europe

    In the forthcoming election on March 18th, what is actually on offer is not the election of a peacetime president, but of a Supreme Commander; the type of leader who, in wartime, like Churchill or Stalin, cannot promise anything else but “blood, sweat and tears.” The figure of Putin, as it were, rises above economic and social policy, thereby transferring that obligation to the competence of government technocrats. Putin is the leader of the nation, primarily responsible for issues of war and peace.

  • Nearly Half of Canadians are Left with $200 or Less After Paying their Monthly Bills and Debt

    Economic Crisis

    Nearly half of Canadians are $200 or less away from financial insolvency each month after paying their bills and debt obligations. This is down 12 points from September 2016, when 56% of Canadians were facing the same challenge. The current 44% who are $200 or less away from financial insolvency includes those who are left with $1-$200 (17%), and the more than one in four (27%) who are left with nothing and already consider themselves insolvent at the end of the month.

  • The Next Financial Crisis Will Be Worse Than the Last One

    Economic Crisis

    We’ve made it through 2017. The first-season installment of presidential Tweetville is ending where it began, on the Palm Beach, Fla., golf course of Mar-a-Lago. Though we are no longer privy to all the footage behind the big white truck, we do know that, given the doubling of its membership fees, others on the course will have higher stakes in the 2018 influence game.

  • For Whom the Wall Fell? A Balance Sheet of the Transition to Capitalism

    Economic Crisis

    Most people’s expectations on November 9, 1989, were that the newly established capitalism in Eastern Europe will result in economic convergence with the rest of Europe, moderate increase in inequality and consolidated democracy. These hopes and expectations are fulfilled most likely in only one country (Poland) and, at the very most, in another two rather small countries (Estonia and Albania).

  • Monetary Imperialism

    Economic Crisis

    The most destructive fiction of international finance is that all debts can be paid, and indeed should be paid, even when this tears economies apart by forcing them into austerity. Yet European countries, and especially Germany, have shied from pressing for a more balanced global economy that would foster growth for all countries and avoid the current economic slowdown and debt deflation.

  • The Current Conflict In Spain Has A Lot to Do With Economic Failure

    Economic Crisis

    As Spanish Prime Minister Mariano Rajoy threatens to take over the autonomous region of Catalonia, it is becoming clearer even to casual observers who the bad guys are in this conflict. Generally, when one side is peaceful and seeks dialogue, and the other is committed to resolving the disagreement through force, repression, and violence — well, you get the picture.

  • World’s 8 Richest Have as Much Wealth as Bottom Half, Oxfam Says

    Economic Crisis

    Oxfam bases its figures in part on Forbes’s annual list of billionaires and the magazine’s estimates of their wealth. This year, Oxfam said, new data gathered by Credit Suisse about the global poor led it to lower its estimates of their assets, and revise its findings about how few rich men — the eight are all men — were needed to equal the wealth of 3.6 billion people.

  • For the 150th, let’s also re-make our economic myths

    Canadian Business

    Every society needs its myths. But as much as myths and stories can empower, they can also be damaging. Here are three economic myths about Canada that could use re-writing. The first economic myth to remake is that we are “hewers of wood and drawers of water” — or, in more contemporary terms, extractors of some of the dirtiest fossil fuels known to humankind.

  • Economic power to the people!

    Economic Crisis

    Sadly little known today, Robinson was a radical, defiantly outside the mainstream. She engaged the orthodoxy of her day in fiery debates, defending the core belief that the free-market profit system was no way to organize the economy and society. In this, Robinson was very much like the Marxist economists of her day, although she was explicit that she was not a Marxist.

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