The parasites and rumour-mongers who run the debt ratings agencies, having done their work getting the Greek government to screw their population, have moved on to Italy. Let’s be honest, the ratings agencies are just the propaganda arm – fully funded …
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The Progressive Economics Forum: Navigating challenging economic waters
Down south, the Obama administration is in a dangerous game of chicken with Republican congressional leaders, who are cynically holding the US economy hostage in order to impose a radical agenda of spending cuts. Obama has seemingly bought into the rhetoric of cutting debt, rather than focusing on the real US problem of unemployment. Yet, […]
Continue readingRedBedHead: Greece: Bigger Than Lehman Brothers
What a frigging disaster. Back in 2008, the US Federal Reserve let the Lehman Brothers investment bank – which held more than a bellyful of toxic debt, go to the wall. It was meant to bring “calm” to increasingly panicked financial markets. That will p…
Continue readingWorld Headlines Review: Greek Sovereign Debt Crisis a Sovereignty Crisis
Greek Parliament, Syntagma Athens – by kouk News outlets around the world have focused heavily on the so-called Greek Sovereign debt crisis this week. The proposed solution–an IMF loan package requiring “austerity measures” and a fire-sale of public assets–has sparked massive unrest in the capital, where people from all walks
Continue readingThe Sir Robert Bond Papers: The looming debt problem: update
Canadian household debt is at at record levels according to report by the Certified General Accountants Association. The latest report adds a new twist to a discussion of the potential risks for consumer debt in this province discussed in a post last …
Continue readingThe Sir Robert Bond Papers: Harris Centre economic forum: the media coverage
The Telegram’s James Macleod had a decent front page summary of the Harris Centre’s discussion of economic issues facing the province and the subsequent discussion. The CBC has a super short version that is already bumped off the front page of its…
Continue readingThe Progressive Economics Forum: Reduce Student Debt to Reduce Household Debt
At this year’s Annual Conference of the Canadian Economics Association, Armine Yalnizyan gave a presentation entitled “Surviving the Recovery: The Distribution of Canadian Household Debt.” The panel was co-sponsored by the Canadian Association for Business Economics and the Progressive Economics Forum. As Armine made clear in her presentation, household debt in Canada has steadily risen over the […]
Continue readingProgressive Proselytizing: TFSAs and progressive savings policies
With Harper’s majority secured, it is quite likely that the popular Tax Free Savings Accounts (TFSA’s) will double the allowable contributions to $10k per year by 2014. There is a considerable benefit to policies that encourage higher savings rates but…
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