The Big Banks’ Big Secret
The CCPA today released my report: “The Big Banks Big Secret” which provides the first public estimates of the emergency funds taken by Canadian banks. The report bases its estimates…
banks
James K. Galbraith: Inequality and Instability
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The extremely illogical logic behind your credit rating and debt repayment
This is what I find excruciatingly bizarre about the way banks conduct their business on loans, credit cards, personal lines of credit and other lending vehicles: That you may have…
A Bank for the Taxpayer’s Buck?
Hi all, I interrupt your regular blog viewing to bring you one of my infrequent posts, this time by a guest contributor — Alan Milner — who for reasons of…
BMO Professor vs. Bank Regulation
Last week, the C. D. Howe Institute was out with an op-ed contending that Canadian household debt is not worth worrying too much about: “There does not seem to be…
Peak Everything and a Perpetual No Growth Economy
Many heterodox economists and post-carbon researchers – most notably Richard Heinberg in several books but particularly in his seminal The End of Growth and Chris Martenson in The Crash Course…
McGuinty’s Business Tax Breaks
An interesting nugget in last week’s Drummond report is Table 11.1, an updated version of Table 2 from “Ontario’s Tax Plan for Jobs and Growth” (2009). It provides a sectoral…
A Merchant Banker Returns to the Farm
After the financial collapse of 2013, the Ancient Order of Merchant Bankers fell on hard times. No longer could they turn a profit using the dark magic of derivative and…
Parliament in Review: November 4, 2011
Friday, November 4 saw another day of spirited question period debate on the economy. But for once, the main theme was total cooperation – even if much of the day…
Friday Afternoon Links
Assorted content to end your week. – If there’s a more accurate description of the Cons’ entire political strategy than “taking advantage of the prejudice that’s already there”, I haven’t…
The zombie-banker lives and roams the earth
Another follow-up; Craig Alexander, TD’s chief economist – it pains me to reference a classic neoclassical bank economist – noted on Lang and O’Leary last night that Canada’s debt to…
Thursday Evening Links
This and that for your evening reading. – pogge points out yet another Con slush fund, as public money earmarked for green infrastructure was instead diverted to oil, gas and…
Were the Canadian Banks Bailed Out?
The conventional line has been, no. Our banks were strong. Unlike the US and Europe, no bailout was needed to deal with the global financial crisis of 2008. This line,…
Of Bailouts and Liquidity Shakedowns
Here is an amazing multimedia article published by Bloomberg Markets Magazine in the U.S., that lists all of the individual banks which received financial assistance from the U.S. Federal Reserve…
Tuesday Afternoon Links
This and that for your Tuesday reading. – Dan Leger comments on the combination of secrecy and control exerted by Stephen Harper over the entire federal government. And the “Harper…
Armine vs. Canada’s Poster Boy for Capitalism
On last night’s Lang and O’Leary Exchange, given that the odds were 3 to 1/2, Armine Yalnizyan held her own against Kevin O’Leary, Canada’s poster boy for capitalism, a bank…
Canadians Like the Occupy Movement
Even the right-leaning Canadian press can’t disagree that the Occupy Movement is a positive thing in and of itself. A new poll reveals that almost 60% of Canadians view the…
What Do Banks Actually DO? Teach-In With Occupy Toronto
What do banks actually DO? Create credit out of thin air. Were Canadian banks bailed-out? Absolutely, to the tune of $200 billion. And they are still protected and subsidized more…
BBC speechless as trader tells truth: “Collapse is coming… and Goldman Sachs rules the world”
Move your money now – put it into gold, silver, and if you can, more importantly, a piece of land that can feed your family, tools for self-reliance such as…