Thursday 23 March 2017


>>>>>>>>>>>>>>>HEADLINES ACROSS CANADA <<<<<<<<<<<<<<<

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>>>>>>>>>>>>>>>NATIONAL NEWSWATCH<<<<<<<<

Trudeau pressed to discipline male Liberal MP who joked about female Tory MP being a stripper

Rachel Notley a �vicious, poisonous, toxic cocktail� of mediocrity, Kevin O�Leary charges
        Trudeau skips budget debate to campaign as opposition decries �arrogant� rule changes
Justin Trudeau touts budget�s �meaningful� investments
        Meredith�s new lawyer eschews race card; hopes to �dial down� temperature

Rona Ambrose fears a post-budget �brain drain�
        M-103: Anti-Islamophobia Motion Easily Passes House Of Commons
Uber Canada hits back at Liberal plan to charge tax on rides
        Anatomy of a Fox fake news story
Liberals try to rush rule changes to benefit themselves
        Liberals latest attempted power-grab in Commons sure to fail again
Morneau sees 2017 budget as Chapter 2 of ongoing plan
        Budget 2017: Right road, low fuel
The unmasking of Bill Morneau, caped budget crusader
        No money, no ideas, but a wealth of bafflegab and buzzwords from the Liberals

At Issue: 2017 federal budget
        Budget is a list of decisions to be made later
A budget built for the 2019 election

Trump administration to approve Keystone XL permit by Monday
        Canada gets green light to join controversial China-led infrastructure bank
Finance Minister doesn�t rule out future changes to capital gains taxes
        Leitch slides, O�Leary gains in Conservative Leadership Index
Andew Potter resigns from McGill post after Maclean�s essay on Quebec
        B.C. Greens gain ground on Vancouver Island at expense of Liberals, NDP: poll
Lots of words, few dollars in this budget . . . until the next election rolls around
        Liberals take wait-and-see approach with federal budget
Liberal budget offers lots of �vision� but few new numbers
        The Liberals may have slowed their spending, but their spin is relentless

Liberals fall short with first gender-based federal budget
        This isn�t the anti-Trump budget
With this federal budget, the Liberals have let the middle class down, again
        Morneau�s faith in small reforms � and small headlines
Budget 2017: Morneau rags the puck
        There Is No Silver Bullet For Fake News
It�s a mystery how the Liberals are encouraging innovation and helping the middle class
        M-103: If Canadians, not MPs, voted in the House, the motion condemning Islamophobia would be defeated
Dennis Oland wrongly denied bail in murder case, says Supreme Court
        A dairy-for-lumber deal? Think-tank paper proposes Canada-U.S. swap for NAFTA

It never seems a good time for a tax-the-rich budget
        MP Margaret Mitchell famously called wife abuse �no laughing matter�
Kevin O�Leary says Canada needs �a political exorcism�
        Kellie Leitch believes all immigrants should be screened first with face-to-face meeting
Trudeau Responds To Tory-NDP Tag Team By Asking Them To Think Of The Kids
        Access to tax deduction for fertility treatments expanded in budget
Canada�s `Lightweight� Budget Is Mostly Wait and See on Trump
        Budget 2017 � The Budget in Brief
Liberals pour billions in to child care in political bid to win over families
        Federal budget 2017: Hello Uber tax, goodbye Canada Savings Bonds

Budget 2017 trumpets child care, anti-violence strategy as help for women
        Ottawa has rejected majority of Canada 150 projects
Opposition MPs declare �war� over feds� efforts to ram through sweeping changes to House rules, �we�re filibustering to protect the right to filibuster�
>>>>>>>>>>>>>>>LOONIE POLITICS<<<<<<<<<<<<<<
This week, the Liberals learned, again, that promises sometimes cost real money - Kelly McParland, National Post
        Federal budget 2017: Trudeau and cabinet go out to sell future of deficits - The Globe and Mail
A budget that hopes Canadians look past the numbers - John Geddes, Macleans
        Vicious, not so virtuous cycle of rent controls - Martin Regg Cohn, Toronto Star
No decision from Senate ethics committee on Don Meredith - The Canadian Press, Macleans
        Federal budget 2017: Full text - Macleans
Five things to know about the Trudeau government�s second budget - Andy Blatchford - The Canadian Press, Toronto Star
        21 ways the federal budget could hit your wallet - Julie Cazzin and Vickie Campbell, Macleans
Federal budget 2017: Highlights of Bill Morneau�s 2nd budget - CBC News
        Federal budget�s $30M for Alberta�s oil and gas industry for orphan wells: Notley - CTV News

2017 federal budget highlights: 10 things you need to know - Laura Stone & Gloria Galloway, The Globe and Mail
        Canada aims to avoid Brexit cliff-edge with trade talks- Jill Ward - Bloomberg, Toronto Star
�Turbulent times� at U.S. parent raises questions about fate of Sears Canada- Marina Strauss, The Globe and Mail
        Starbucks Canada sets goal to hire 1,000 refugees over five years- CTV News
Bell and Rogers to ask bars to pay more for sports packages- CBC News

Vote report� sur la loi sur la sant�: un revers pour TrumpPlus
        �Qu�bec bashing� dans Maclean's: Andrew Potter d�missionnePlus
Meurtre au motel Chablis: l'accus� esp�rait un �miracle� avec son exPlus
        Trudeau accuse Qu�bec de jouer un �jeu� politiquePlus
Attentat de Londres: Donald Trump Jr fait pol�mique Plus
        Donald Trump: �J'ai tendance � avoir raison�Plus
Le gouvernement Couillard n'a pas de rapport de force, dit l'oppositionPlus
        Anthony Pratte accus� du meurtre pr�m�dit� de Daphn� BoudreaultPlus
Londres identifie l'auteur de l'attaque revendiqu�e par l'EIPlus
        Belgique: un homme tente de foncer en voiture dans la foulePlus

Assassinat d'un ex-d�put� russe en UkrainePlus
        Mort de Daphn� Boudreault: le BEI d�clenche une enqu�te ind�pendantePlus
Un enfant de 3 ans coinc� dans une machine � toutousPlus
        L'ombre de Trump plane sur le budget Morneau


>>>>>>>>>>>>>>>LOONIE WORLD<<<<<<<<<<<<<<<<
Moderate Republicans oppose GOP healthcare bill - Robert King, Washington Examiner
        Latino advocacy group targets 7 Republicans in push against ObamaCare replacement - Mallory Shelbourne, The Hill
Public Health: Is the G.O.P. Better Off Politically if the Health Bill Doesn�t Pass? - Nate Cohn and Margot Sanger-Katz, New York Times
        Spicer: �We are not looking at a plan B� on health-care bill - Philip Bump, Washington Post
Freedom Caucus Chair: �Not Enough Votes� to Pass GOP Health Care Bill - Leigh Ann Caldwell, NBC News
        London attack: Five dead in Westminster terror incident- BBC News
MPs in UK parliament remain a hard target for terrorists- Alan Travis, The Guardian
        Israel built 2,630 illegal homes in West Bank last year- Al Jazeera
33 dead in US-led north Syria air strike- AFP, The Times OF India
        Belgium marks one year since Brussels terror attacks- France 24

>>>>>>>>>>>>>>>THE LEBANON DAILY STAR<<<<<<<<

US healthcare vote delayed in blow to Trump
        Turkey summons Russia envoy after soldier shot in Syria
US embassies ordered to identify population groups for tougher visa screening
        Merkel ally says Germany must tackle benefit fraud by asylum seekers
Ukraine accuses Russia of 'state terrorism' after former MP shot
        Russia 'perhaps' supplying Taliban: NATO commander
Le Pen visits Russia weeks before French presidential vote
        Child marriage is a humanitarian problem: Ogasapian
Russia's foreign minister says ready to discuss reducing nuclear arms
        Previous                           Next

>>>>>>>>>>>>>>> Sign Of The Times <<<<<<<<<<<<<<<


Subject:  Re: Response to Curtis MacDonald
From: Larry Kazdan

Curtis MacDonald claims that full employment will never be achieved because of "those that can't work, those that won't work" and "the large number who contribute nothing financially, many by choice".  His ideas are in line with many mainstream economists who argue that unemployment occurs because people choose not to work. The mass unemployment of the Great Depression took place because people had a preference for leisure!

This theory has problems.  First, the 1.3 million Canadians officially labeled as unemployed today are only those actively seeking jobs. The measure does not include those who can't work, those underemployed, or those discouraged and not looking.  The ratio of job-seekers to job listings, also tracked by StatsCan, is currently 5 to 1.  Second, the theory that people choose not to work predicts that when wages stagnate, more workers will quit i.e. they will lack the incentive of higher wages.  Of course in the real world, workers hold on to their jobs in tough times, and only when jobs are easy to come by do they quit and chance better jobs elsewhere. 

Still, if workers are worried about losing their jobs and reluctant to demand higher wages, more profits are available to the 1%.  And lower-paid workers can be loaded with debt, another source of profit for elites. Secure with their government-paid salaries and guaranteed pensions and with lucrative side-contracts from the private sector, establishment economists are happy to maintain that government spending on job creation won't work, and happy to help orchestrate lynch mobs against the "loafers" who lack the personal responsibility to fill the non-existent jobs.

In 1937, Tommy Douglas and the CCF asked the government to put $500 million into a program to offer jobs to the single unemployed. The government responded, "Where will we get the money?"  But by 1944, the unemployment rate dropped from double digits to 1.4%.  What happened? The government put 1.1 million additional Canadians on the public payroll as members of the armed forces (one out of every three adult males).  The government also fed them, clothed them, and housed them. Other civilians were manufacturing the armaments and munitions - all on government contracts.  Where did the government get the money?  Certainly the government taxed and borrowed as it could, but a large chunk of the money also came directly from the Bank of Canada.  Aside from helping to win the war, what was the result?  According to a government website:

1939--1945: World War II Transformed the Canadian Economy

"By the end of the war, the economy had a more highly skilled labour force, as well as institutions that were more conducive to sustained economic growth."
And what about the rapid inflation that Curtis MacDonald claims is always a result of the central bank simply printing money?  Turns out it was quite manageable. Here is  J.D. ALT''s explanation in the American context:

"Between 1940 and 1944 (a time period of only 48 months!).... The U.S. federal government spent (in 2011 dollars) 4.1 trillion dollars to build the largest and most advanced military machine in world history, employing over nine million previously unemployed citizens in the process.....  Where did the dollars come from? Did President Roosevelt arrange to borrow the dollars from China?
The federal government must have issued the necessary dollars by fiat, out of thin air. In other words, the money was �printed.�
The U.S. inflation rate went from near zero in 1941 to nearly 12% in 1942. But it�s important to acknowledge the difference between the U.S. inflation of WWII and the infamous examples of catastrophic hyperinflation�Weimar Germany after WWI, Zimbabwe in the 1990s and, possibly, Venezuela today. In each of these cases, the underlying cause of the inflation was the collapse of the productive capacity of the national economy. The money still existed, but there were fewer and fewer things being produced for the money to buy.

Just as inflation began to get out of control,... the federal government began draining large amounts of dollars (taxes) from the citizen�s aggregate spending power. At the same time, a major campaign was implemented to encourage the citizens to use some of their newly earned fiat dollars to buy War Bonds, effectively taking those dollars out of circulation.... Between 1942 and 1945 these efforts succeeded and U.S. inflation subsided to 2.3% .." 

So, can we have full employment  today by printing money and increasing the goods and services available for civilian consumption that would forestall inflation? Of course we can!

See "The Job Guarantee: A Government Plan for Full Employment"

As John Maynard Keynes put it: �The Conservative belief that there is some law of nature which prevents men from being employed, that it is �rash� to employ men, and that it is financially �sound� to maintain a tenth of the population in idleness for an indefinite period, is crazily improbable � the sort of thing which no man could believe who had not had his head fuddled with nonsense for years and years�". 

For those who wish to examine more actual evidence:

1. Is Monetary Financing Inflationary? A Case Study of the Canadian Economy, 1935�75

As shown in figure 1, between 20�25% of Canadian public debt was financed and held by the central bank and government from the end of World War II up to the early 1980s but inflation was below 5% right up until the early 1970s����..

2. Rapid Money Supply Growth Does Not Cause Inflation
Neither do rapid growth in government debt, declining interest rates, or rapid Increases in a central bank�s balance sheet

"In our review of 47 countries, generally from 1960 forward, we found that more often than not high inflation does not follow rapid money supply growth, and in contrast to this, high inflation has occurred frequently when it has not been preceded by rapid money supply growth.

From: "Tommy Thomas"

Hello Joe:

A big THANK YOU to Curtis MacDonald for his response to Larry Kazdan�s repeated attempts to sell wholesale printing of money to achieve Utopia by a central government.

Tommy Thomas


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