More on Public Sector Austerity in Canada
A short addendum to my previous post: I checked the most recent IMF projections in the June, 2011 Update to the Fiscal Monitor. Table 1 provides estimates of changes in…
debt
Public Sector Austerity: Why is Canada Leading the Way?
The major economic problem faced by Canadians is a very slow recovery and weak job market, not government deficits or rising debt. But public spending cuts at the federal and…
Credit rating agencies as courts of international finance
As I am writing this, President Obama announced a deal to avoid default on US government debt. If lawyers think in terms of courts, then what would be the legal…
Debt Ceiling Debate is Moot: USG Owes More Dollars than in Existence
Image by Images_of_Money The current debate in Washington as to whether or not and under what conditions to raise the debt-ceiling has for the past week dominated global news coverage…
Americans can’t seem to apply Greek style austerity measures to stave off default, while Republicans flush their country down the toilet
If I was in U.S. House Speaker John A. Boehner’s shoes I would have agreed to President Obama’s terms in raising the country’s debt ceiling.Why? Well I think it’s because…
Italy Votes To Kill Its Economy To Save Its Debt Rating
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,…
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…
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…
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…
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…
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…
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…
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…