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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]

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

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

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

 
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