New economic vision needed for Canada

To increase productive growth investment, the government has to start with the banks

New economic vision needed for CanadaIt’s taken some time to get there, but even the Tories admit (reluctantly) that the Canadian economy is in recession. The big question for the electorate is: can government do anything to improve the situation? All of our party leaders have plans to stimulate the economy; regrettably, they’re offering up the same tired old corporate…

A balanced budget no miracle cure for ailing Canadian economy

Proposing a balanced budget reflects a failure to grasp the modern economic role of government

A balanced budget no miracle cure for ailing Canadian economyThe 2015 federal election will go down in history for establishing a new record and confirming a reality check. First, it will be recorded as the longest campaign in Canadian electoral history. Our political campaigns used to be a sprint to the finish line. This time, it is a marathon of perpetual political bashing and…

How the Canadian economy can get out of the mess it’s in

The Canadian economy is vulnerable today because ‘markets’ couldn't care less about Canada's, or anyone’s, standard of living

How the Canadian economy can get out of the mess it’s inAs Stephen Harper prepares for the real election campaigning to begin after the Labour Day long weekend, he must be praying for some good news on the economic front. The news so far has been pretty miserable. With a year of falling oil prices, month after month of stagnant (or worse) GDP growth and a…

Interest rate cut underscores Canada’s gloomy economic prospects

The Bank of Canada is acknowledging that the energy-related downturn is worse than expected

Interest rate cut underscores Canada’s gloomy economic prospectsWhat are we to make of the Bank of Canada’s recent decision to trim its short-term policy interest rate by another 25 basis points, taking it to a near record low level of 0.5 per cent? The Bank is frankly acknowledging that the energy-related downturn in capital spending and exports in Canada has been greater…

Canada flirting with recession

Slumping oil prices taking their toll on Canada’s energy-centric economy

Canada flirting with recessionThere is a cloud over the country’s economic outlook for 2015. Statistics Canada reports that real gross domestic product (GDP) fell at a 0.6 per cent annualized rate in the first three months of the year, considerably worse than even pessimistic forecasters were expecting. It is clear that the slump in global oil prices is…

Changes to Foreign Worker Program could strangle Canadian economy

Changes could also lead to rise in illegal workers

Changes to Foreign Worker Program could strangle Canadian economyCanada’s recent changes to the Temporary Foreign Worker Program (TFWP) are slamming the door on low-skilled workers trying to come to Canada, and in some cases to stay in the country. To some, this might not seem to be a bad thing, but a shortage of low-skilled workers will have consequences in both the short…

Canadian economy in for a very bumpy ride

Compared to going into the 2009 global recession, the Canadian economy is in much worse shape

Canadian economy in for a very bumpy rideDespite high consumer debt and housing prices, Canada went into the 2009 global downturn with several advantages that allowed it to economically outperform the other G-7 countries over the ensuing period. However, the erosion of some of these advantages means the current slowdown will be more difficult. First, Canada went into the financial crisis with…
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