What’s a Trillion?

There is a rather embarrassing (for Liberal partisans) video floating around the Internet. It shows Finance Minister Bill Morneau doing his very best to avoid answering some fairly simple and straight forward questions put to him in the House of Commons, during a session of the Special Committee on the COVID-19 Pandemic, by Conservative pit … Continue reading What’s a Trillion?

Follow the money

The CBC quotes the very credible C.D. Howe Institute saying: "Canada is officially in a recession that's been caused by the COVID-19 pandemic, the C.D. Howe Institute's Business Cycle Council declared Friday ... [because] ... The council, which monitors recessions and recoveries in Canada, said the economy peaked in February, just before drastic measures to slow … Continue reading Follow the money

Trudeau failed

A few weeks ago, I wondered if Australia had gotten things right or, at least had gotten things better than Canada had in its response to the opening rounds in the novel coronavirus pandemic. "In this specific case," I concluded, back in very early March, "in Australia, the balance between science and policy seems, to … Continue reading Trudeau failed

A bonanza of fool’s gold

Dr Zachary Karabell, a well-known investment advisor, author and commentator, reminds us, in an article in Foreign Affairs, that "Most Americans learned in school that the New Deal, President Franklin Delano Roosevelt’s sweeping response to the Great Depression, was a turning point in U.S. history. For 90 years, the progressive projects and reforms collected under … Continue reading A bonanza of fool’s gold

Is the cure worse than the disease?

Richard Milne, the Nordic and Baltic Correspondent for the Financial Times, reports that "Jacob Wallenberg ... [the Swedish industrialist, whose family investment vehicle has controlling stakes in companies from telecoms equipment maker Ericsson to one of Europe's premier corporate banks] ... warned governments to weigh the economic threat from coronavirus more heavily or risk depression, social … Continue reading Is the cure worse than the disease?

How to face a ‘Greater Depression:’ with a government of national unity.

Dr Nouriel Roubini is a world-famous economist. He is Professor of Economics at New York University's Stern School of Business and Chairman of Roubini Macro Associates. He was Senior Economist for International Affairs in the White House’s Council of Economic Advisers during the Clinton Administration. He has worked for the International Monetary Fund, the US … Continue reading How to face a ‘Greater Depression:’ with a government of national unity.

So, here we are …

... not even ten days into the 2020s. A century ago the "roaring '20s" dawned with the realization that the Treaty Of Versailles (28 June 1919) was so deeply flawed that Henry Cabot Lodge, a great and astute American statesman, who had advocated for American participation, on the allied side, in the First World War … Continue reading So, here we are …

Not so fast … Paul Wells is wrong

I see in the most recent Maclean's magazine that Paul Wells is as conflicted as many of us. He explains that Justin Trudeau has no sane plan to manage Canada's economy but he also says that Andrew Scheer is ignoring climate change.  He concludes that "It would be nice to have a government that takes … Continue reading Not so fast … Paul Wells is wrong

A tale of two graphs

So, Adam Vaughan, a Liberal MP from Toronto, posted this on social media: It's petty standard Liberal fare and I'll bet that more than half, more likely ⅔ or even ¾ of Canadians believe it. In response, Richard Groves, who is an accountant from Kelowna BC, posted this: The GFC to which Mr Groves refers … Continue reading A tale of two graphs