Tuesday, August 09, 2011

Tuesday Morning Links

This and that for your Tuesday reading.

- Andrew Jackson describes the next phase of the global economic crisis:
Now we face a new financial crisis, or at least a stock market correction of major proportions, which may precipitate a new phase of the crisis.

The financial markets seem to suffer from acute schizophrenia, with the bond markets demanding more fiscal austerity in much of the Euro zone, while stock markets are panicking at clear signs of slowing US and global growth.

How should governments be responding to the panic in the markets?

Not, as they have, by caving in to the bond markets.
The key problem...is that the policy shifts we need seem to be political non starters. Which is why the G7 focus remains very much on austerity. Which will make things worse. Which is why the stock markets are panicking.
- Yes, it's well and good to point out that Stephen Harper's appearance with Rob Ford reflects a break in his usual image control. But isn't it more significant that Harper is willing to make common cause - behind closed doors or otherwise - with somebody so bent on imposing uncompetence in the first place?

- Which isn't to say that the Cons have offered anything different. But they've at least tried to pretend to offer a steady hand even while flailing wildly at Canada's public institutions.

- Finally, in a signal of what looks like a much-needed debate this fall, the NDP is backing up its previous call for a firm end date to Canada's involvement in Libya by demanding that the Cons withdraw this fall.

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