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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]

OPEC of maple syrup
"While Mr. Trepanier studiously avoids calling the organization a cartel, he has described it as the OPEC of maple syrup in the past, referring to the group of oil-producing countries." [08/22/15], Government

Wishful thinking
"There is little sign that states will face reality soon. A recent rule change by the Governmental Accounting Standards Board was intended to bring the deficit calculations of public plans closer to those of the private sector. In practice, however, the CRR found that only seven of 150 plans had reduced their discount rate by more than half a percentage point." [06/27/15], Government

Autonomous cars will reshape the economy
"Most people - experts included - seem to think that the transition to driverless vehicles will come slowly over the coming few decades, and that large hurdles exist for widespread adoption. I believe that this is significant underestimation. Autonomous cars will be commonplace by 2025 and have a near monopoly by 2030, and the sweeping change they bring will eclipse every other innovation our society has experienced." [05/23/15], Economy

How Chicago used financial engineering
"Unsurprisingly, some of Chicago's bonds are already trading at junk levels. That said, the rating agencies and most other market participants still appear to be light years away from understanding the true scope of Chicago's financial problems. The city has a very - well, let's just call it unconventional - approach to borrowing money and probably should not be considered investment grade." [04/04/15], Government

Red tape is strangling good samaritans
"Regulations and rules are making it harder to do the right thing." [01/03/15], Government

John Oliver: The Lottery
"State lotteries claim to be good for education and the general wellbeing of citizens. But are they? (Spoiler alert: No.)" [video] [11/15/14], Government

O Beholden Canada
"Call it Canada's summer of pension discontent. Governments throughout the country are grappling with as much as $300 billion in unfunded government-worker retirement debt. In a country of just 38.5 million people, that's a pension problem roughly equivalent to the one that California faces. And it's widely shared." [10/26/14], Government

The Secret Goldman Sachs tapes
"The Fed failed to regulate the banks because it did not encourage its employees to ask questions, to speak their minds or to point out problems. Just the opposite: The Fed encourages its employees to keep their heads down, to obey their managers and to appease the banks. That is, bank regulators failed to do their jobs properly not because they lacked the tools but because they were discouraged from using them." [09/26/14], Government

The Secret Recordings of Carmen Segarra
"An unprecedented look inside one of the most powerful, secretive institutions in the country. The NY Federal Reserve is supposed to monitor big banks. But when Carmen Segarra was hired, what she witnessed inside the Fed was so alarming that she got a tiny recorder and started secretly taping." [09/26/14], Government

The criminalisation of business
"Companies must be punished when they do wrong, but the legal system has become an extortion racket." [08/29/14], Government

Addicted to zero
"So tell me again why central bankers in North America feel they have to 'keep our economy going' by maintaining a zero-interest rate policy." [07/05/14], Government

Why was Canada exempt from the financial crisis?
"From its beginning, Canada's banking system was structured to be less vulnerable to shocks and thus did not give rise to the need for a central bank to achieve stability. By contrast, the Fed was created to offset vulnerabilities in the American banking system." [05/25/14], Government

Flinty-eyed fiscal conservatives
"Why yes: reading the budget, one was taken back to the last days of the Bob Rae government, two decades ago - that same feeling that those in charge had no real grasp on the size of the hole they had dug for themselves, nor any serious plan to get out of it. In retrospect, the comparison seems unfair. Rae was a flinty-eyed fiscal conservative compared to this bunch." [05/04/14], Government

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

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

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