Many of the Alberta economy's best new ideas can't get off the ground for lack of sufficient support from the province and its investors
It's time to kick-start Alberta's economy with an aggressive new perspective on funding small and medium-sized businesses. Alberta’s economy has entered its deepest recession since the 1930s. A recent report from economists at the TD Bank predicts that the province's economy will shrink another three per cent in 2016. That will bring the accumulated decline in Alberta's…
The next crisis will be triggered by the mounting bad debts of commercial banks
A new financial crisis is brewing in Europe, one that will prove as devastating as the last economic crisis. This one will also be centered in southern Europe, only, this time, instead of being triggered by the rising debt of the region’s governments, it will be triggered by the mounting bad debts of commercial banks.…
The Notley government can make an ideological point, or leverage the power of Albertans to build a better and fairer small-dollar loan market
In its recent throne speech, Premier Rachel Notley’s government said it intended to “protect Albertans who are experiencing economic distress from being preyed upon by unscrupulous lenders.” The idea, to create “an Act to End Predatory Lending,” is sound but how it is implemented will require great care. As noted in a recent report by…
But they can also be a life saver when the need for cash is urgent and credit from traditional sources is unavailable
A list of the terms our society uses to describe payday lenders almost tells you everything you need to know. It reads a bit like a description of a B-grade horror film: predators, thieves, vampires, slave-drivers, or (my favourite) rapacious usurers. But if they’re so awful, why are they everywhere? Why is it that, despite…
Big banks will survive only if they adjust to a world where their traditional dominant position can no longer be taken for granted
Canada is known for its stability and reliability, and nothing is more stable and reliable than our chartered banks. Remember the financial crisis in 2008? While major financial institutions around the world trembled and some fell, Canada’s banks were unshaken and unmoved. The shares of our big banks are the bluest of blue chips, offering…
It's time to kick-start Alberta's economy with an aggressive new perspective on funding small and medium-sized businesses. Alberta’s economy has entered its deepest recession since the 1930s. A recent report from economists at the TD Bank predicts that the province's economy will shrink another three per cent in 2016. That will bring the accumulated decline in Alberta's…
