Thursday, May 11, 2017

New column day

Here, examining how Steve Keen's warning about the UK's excessive financialization and consumer debt applies even more strongly in Canada.

For further reading...
- Keen makes reference to the BIS' international data as to the ratio of private debt to GDP:

- Again, Erica Alini reported on Ipsos' latest number as to the dire fiscal straits facing many Canadians - which can be compared to last year's numbers from here. And Noah Buhayar and Doug Alexander write about a credit rating downgrade for Canadian banks due to their exposure to consumer debt, while Tricia Phillips notes that the problem with unsustainable consumer debt also represents a parallel between Canada and the UK.
- Dan Levin exposed the B.C. Libs' tax breaks for money laundering, job outsourcing and other shady financial activity by big donors, while David Ball examined the public response. 
- Stefani Langenegger discussed the millions of dollars Saskatchewan is paying to failed P3 bidders. And Murray Mandryk chimed in on the waning credibility of the Saskatchewan Party when it comes to managing public money.
- Bill Curry reported on both the Libs' outsourcing of the design of a federal infrastructure bank to the financial firms who stand to profit from it, their rush to ram the legislation setting up the bank through Parliament without meaningful review, and the NDP's work to ensure a public debate. And Jordan Press and Andy Blatchford followed up on the obvious conflicts of interest involved in the bank's design.
- Finally, Linda McQuaig highlights just a few of the problems with an infrastructure bank not designed to serve the public interest.

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