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Canadian Debt & Tax Clock

I started the debt clock some years ago and I still think it's a good reminder that the government shouldn't continue its spending spree. In the most recent update I added taxes with all figures projected forward to today based on 2008 Stats Canada numbers. Oh, and just to be clear, this clock measures the total of federal, provincial and municipal debt & tax.

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Debt, Government & Economic News
[More Stingy News: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Send Us A Link]

When hedge funds lobby
"The worrying thing is that the Ackmans and Westhuses of this world have discovered what you might call the Buffett Arbitrage. Rather than investing in advertising or capital stock, they invest instead in lobbying, with the aim of getting very specific legislation passed which will make them very rich." [03/15/14], Government

Now with less democracy
"Quebec is vowing to act fast and make changes that would give the corporate boards of locally-headquartered companies more power to reject hostile takeovers." [02/23/14], Government

Job creation plan won't create a single job
"However, reading through the details of this plan, skepticism turns to outrage. This is a plan that is explicitly designed to increase income inequality and transfer money from poorer regions of the province to one of Canada.s wealthiest cities and will likely not create a single new job." [12/15/13], Government

Confessions of a Quantitative Easer
"Even by the Fed's sunniest calculations, aggressive QE over five years has generated only a few percentage points of U.S. growth. By contrast, experts outside the Fed, such as Mohammed El Erian at the Pimco investment firm, suggest that the Fed may have created and spent over $4 trillion for a total return of as little as 0.25% of GDP (i.e., a mere $40 billion bump in U.S. economic output). Both of those estimates indicate that QE isn't really working." [11/17/13], Government

Obamacare's losers and why they matter
"If we want health inflation to stay low and health care costs to be less of an anchor on advancement, we should want more Americans making $50,000 or $60,000 or $70,000 to spend less upfront on health insurance, rather than using regulatory pressure to induce them to spend more. And seen in that light, the potential problem with Obamacare's regulation-driven 'rate shock' isn't that it doesn't let everyone keep their pre-existing plans. It's that it cancels plans, and raises rates, for people who were doing their part to keep all of our costs low." [11/03/13], Government

Political fear vs technical needs
"Inside the Department of Health and Human Services. Centers for Medicare and Medicaid, the main agency responsible for the exchanges, there was no single administrator whose full-time job was to manage the project." [11/03/13], Government

The pension dragon
"After days of struggling to understand the financial condition of the retirement system for state employees and teachers, she came to realize that the system no longer made sense. Years of mismanagement and underfunding had allowed money to be drained that was needed to pay promised pensions. The crisis was much worse than Raimondo had expected." [11/03/13], Government

Debt limit
"A satirical short film taking a look at the national debt and how it applies to just one family." [10/20/13], Government

Hate debt again
"Why 2.5 billion heartbeats might change the way you think about money by Preet Banerjee" [10/06/13], Debt

Puerto Rico's pension crisis
"Puerto Rico can cover only 11.2 percent of its public pension costs, which is even less than the notoriously underfunded Illinois retirement system" [09/22/13], Government

How Detroit went broke
"Detroit is broke, but it didn't have to be. An in-depth Free Press analysis of the city's financial history back to the 1950s shows that its elected officials and others charged with managing its finances repeatedly failed - or refused - to make the tough economic and political decisions that might have saved the city from financial ruin." [09/16/13], Government

Did Goldman Sachs overstep?
"A month after ace programmer Sergey Aleynikov left Goldman Sachs, he was arrested. Exactly what he'd done neither the F.B.I., which interrogated him, nor the jury, which convicted him a year later, seemed to understand. But Goldman had accused him of stealing computer code, and the 41-year-old father of three was sentenced to eight years in federal prison. Investigating Aleynikov's case, Michael Lewis holds a second trial." [08/04/13], Government

Feds vs. raisins
"The government allows them to sell one out of every two raisins.The farmers were always supposed to get a percentage of the money raised from the reserve pool raisins, but as profit margins dwindled over the years, so did the return to farmers. The tipping point came in 2003, when farmers received zero dollars in return for the 47 percent of the crop they had surrendered." [07/21/13], Government

Detroit gap and pension math
"Until mid-June, there was one ray of hope in Detroit's gathering storm: For all the city's problems, its pension fund was in pretty good shape. If the city went under, its thousands of retired clerks, police officers, bus drivers and other workers would still be safe. Then came bad news. Seemingly out of nowhere, a $3.5 billion hole appeared in Detroit's pension system, courtesy of calculations by a firm hired by the city's emergency manager." [07/20/13], Government

The underground recovery
"Ordinary Americans have gone underground, and, as the recovery continues to limp along, they seem to be doing it more and more." [04/27/13], Economy

Deposit insurance may increase bank risk
"The argument for deposit insurance is that banks are inherently unstable, by virtue of their economic function they borrow money in the form of deposits (which can be instantly withdrawn) and lend to businesses on a longer-term basis. They are thus vulnerable to destabilising and self-fulfilling bank runs. But the counter-argument is that of moral hazard depositors have no incentive to choose between banks on grounds of riskiness, and bank executives can take risks knowing that they are underwritten by the insurance scheme." [03/31/13], Economy

Financial stress index back down
"According to yesterday's press release, the Kansas City Financial Stress Index (KCFSI) for the month of February continues to indicate that financial stress in the U.S. financial system remains low. The KCFSI fell to -0.61 in February, the lowest reading since June 2007, well before the Great Recession and financial crisis" [03/10/13], Economy

Stingy News Weekly Article Archive: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8

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