Category Archives: Economy

In an election year, Canadians are suddenly very worried about the economy

At the start of this federal election year, Canadians have gone back to feeling pessimistic about both the state of the economy and their own financial situations. It’s a reversion to a gloomier outlook that took hold way back in the 2008-09 recession, after many Canadians seemed to have shaken off that sense of unease around the start of 2018.

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Canada’s on notice Albertans have had enough

Albertans are fed up with Quebec, the grand leech of Confederation. CAQ Premier Francois Legault lit the match when he killed the idea of restarting Energy East and declared there was no social acceptability for oil in Quebec. Well, guess what? There’s no social acceptability in Alberta for sending Quebec any more of our money.

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Lawrence Solomon: Who killed GM’s non-electric cars? The government did

Don’t blame General Motors or declining market demand for automobiles for the plant closings in Canada and the U.S. announced this week. The closings are largely the work of governments.

Demand for cars hasn’t plummeted, as some media outlets have reported. Sales on the whole are actually up this year, part of a steady trend of more vehicles sold over the past decade. Sales are dramatically down only for sedans, specifically the gasoline-powered species of sedans that governments have targeted. In contrast, sales are way up for SUVs and light trucks, vehicles that governments have favoured. Little wonder, then, that GM announced it would scrap many of its sedan models — along with the plants in Ontario and the U.S. that produce them — and switch to vehicles that governments either tolerate or bless. Ontario, doubly uncompetitive due to high taxes and high electricity costs, was inevitably a loser.

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Continuing Oil Discount Will Slash Canada’s Economic Growth

In a common-sense conclusion, TD Bank economists say Canada’s economy will suffer if the massive oil price discount for Canadian oil continues.

The damage will be worst in Alberta, and overall growth in the country will fall by 0.5%.

Keep in mind, considering that economic growth is already struggling to keep up with inflation and population growth, a 0.5% fall would shift Canada closer to a recession.

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In Sweden, cash is almost extinct and people implant microchips in their hands to pay for things

Few countries have been moving toward a cashless society as fast as Sweden. But cash is being squeezed out so quickly — with half the nation’s retailers predicting they will stop accepting bills before 2025 — that the government is recalculating the societal costs of a cash-free future.

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“Middle-class families today are better off than they were under the Harper Conservatives”

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Justin Trudeau mum on what he’ll do to protect LGBTQ2+ provision in USMCA

Prime Minister Justin Trudeau isn’t saying what he is willing to do to keep a provision protecting labour rights for lesbian, gay, bisexual and queer workers inside a renewed North American free trade pact.

More than 40 Republican lawmakers wrote U.S. President Donald Trump on Friday demanding the removal of language in the agreement pledging all three countries to support “policies that protect workers against employment discrimination on the basis of sex, including with regard to pregnancy, sexual harassment, sexual orientation, gender identity.”

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Nine-in-ten Canadians say ‘no’ to future arms deals with Saudi Arabia; divided over cancelling current one

While Canadians express almost total unanimity about prohibiting future sales of weapons and defence equipment to the Kingdom of Saudi Arabia, the latest public opinion survey from the Angus Reid Institute shows they are evenly divided over the question of what to do about the current, 15-year, $15 billion dollar agreement between this country and the KSA to exchange military goods for cash.

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