CANADIAN DAILY DIGEST December 7, 2017.

The DAILY DIGEST: INFORMATION and OPINION
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>>>>>>>>>>>>>>>NATIONAL NEWSWATCH<<<<<<<< http://www.nationalnewswatch.com/

Cities won�t get direct funding from federal pot tax: Morneau

Conservatives won�t say whether or not Jerusalem should be recognized as Israel�s capital
        Kinder Morgan wins battle to bypass Burnaby�s bylaws for Trans Mountain pipeline
Hehr apologizes, pledges to do better after new complaint from Calgary mom
        AFN chiefs back resolution calling on MMIWG chief commissioner to resign

In China, Trudeau says journalism that informs, challenges is vital. Bravo
        Lonely Canada: Justin Trudeau searches in vain for new free-trade partners
Public servant ranks grow by thousands under Trudeau, reversing Harper�s trend
        Surely Kent Hehr has talked himself out of cabinet
Liberal caution risks costing Canadian a voice in the Middle East
        Trudeau can�t seem to export �progressive� trade values. Why keep insisting on it?
Treatment of Liberal MP is precisely why women don�t report
        Liberal minister�s thalidomide disaster an insult to Canadians� intelligence
Trudeau�s government just plain cruel
        Canada must make science great again

U.S. agency rules against Canada; says softwood imports harm American industry
        Senate ethics watchdog probes China trip by three Conservative senators
Provinces, feds to debate proposed changes to ever-divisive equalization program
        Trudeau government only spending 70 per cent of what�s needed to end First Nations boil water advisories: PBO
Garneau urges Senate to pass stalled grain transportation bill
        Tears, tributes as Saskatchewan Premier Brad Wall bids farewell to legislature
Liberals set to announce fighter jet competition, purchase of used Aussie jets next week
        Cabinet ministers don�t resign nowadays, they just linger and then get shuffled
Landmark study shows military veterans at greater risk of suicide
        Secret documents shed new light on why Clark broke Jerusalem embassy promise

Trudeau says visit to China produced results despite failing to advance trade talks
        Canada and Mexico will carry on NAFTA if the United States withdraws
Trudeau leaves China with a defence of Western media, but no progress on free trade
        B.C. byelection a test of Trudeau�s popularity, Scheer�s rookie leadership
Cash for passports: Canadians play key role in lucrative business
        Trudeau government wants to �demystify� G7 summit by involving Canadians
Cities want a third of cannabis excise tax revenues

>>>>>>>>>>>>>>>LOONIE POLITICS<<<<<<<<<<<<<< http://looniepolitics.com/
Canada�s health-care wait times hit new record high, again - Bacchus Barua, Macleans
        Trudeau praises �essential role� of media to end his trip to China - Alex Ballingall, Toronto Star
Conservatives say �Free the beer� but not the milk - John Geddes, Macleans
        Canadians urged to exercise caution in Mideast after Trump�s Jerusalem announcement - Stephanie Levitz - The Canadian Press,
First Nations demand control over cannabis sales - Gloria Galloway, The Globe and Mail
        Ontario�s auditor general says cancer patients will have had to travel to U.S. for stem-cell transplants - Theresa Boyle, Toronto Star
While Western allies criticize Trump�s Jerusalem move, Canada remains muted - Evan Dyer, CBC News
        Montreal police chief should be fired over systemic issues, government report recommends - The Canadian Press, Toronto Star
B.C. not meeting women�s rights as established by UN: report card - The Canadian Press, Vancouver Sun
        Elliot Lake and Blind River area ruled out as suitable site for nuclear waste bunker - Colin Perkel - The Canadian Press, Toronto Star

Federal government to spend more on First Nations child welfare, Philpott says - The Canadian Press, CTV News
        �They are now way behind Amazon and Walmart�: Challenges mount at Hudson�s Bay as losses almost double- Hollie Shaw, Financial Post
Retailer Dollarama unfazed by arrival to Canada of China�s Miniso- CTV News
        Why a Blue Jays sale may make sense for Rogers- Michael Lewis, Toronto Star
BoC takes a �cautious� approach to rate increases- David Parkinson, The Globe and Mail

TOUTES LES NOUVELLES PUBLIES DEPUIS 24 HEURES http://fr.canoe.ca/infos/aujourdhui/

Cour supr�me: la loi doit obliger le bilinguisme des juges, selon Raymond Th�bergePlus
        Bois d'oeuvre: nouvelle d�cision am�ricaine contre le CanadaPlus
Pensions alimentaires : indexation de 1,5 % d�s le 1er janvierPlus
        Annuler la rencontre Pence/Abbas serait �contre-productif�Plus
Trump bute sur les mots? �Il avait la gorge s�che�Plus
        Prise d'otage: un Somalien reconnu coupable � Ottawa Prise d'otage en Somalie: la GRC a arr�t� un hommePlus
10 ans apr�s l'enl�vement de son fils: un p�re ne perd pas espoir de le revoir un jourPlus
        Le nouveau chef du FBI d�fend l'int�grit� du FBI face � TrumpPlus
�Nous n'avons jamais eu d'illusion�, dit TrudeauPlus
        2 �coliers morts dans une fusillade au Nouveau-Mexique, le tireur d�c�d�Plus

Au moins 19 ans de prison Plus
        �Dieselgate� : 7 ans de prison pour un dirigeant de VolkswagenPlus
Ottawa : la patinoire du 150e officiellement ouvertePlus
        Le s�nateur Al Franken, accus� d'inconduites sexuelles, va d�missionner Plus
Premi�res nations : un manque � gagner de 3,2 milliards $ pour l'acc�s � l'eau potablePlus
        Un quartier � vendre pour moins de 200 000$Plus
Un couple en cavale recherch� par le SPVMPlus
        Un c�l�bre nutritionniste s'en prend � Gwyneth PaltrowPlus
Comment un faux restaurant est devenu la table la mieux not�e de LondresPlus
        Apr�s 10 ans de proc�dures, un homme est finalement trouv� coupablePlus

Un drone pour chasser du bureau les employ�s en heures suppl�mentaires Plus
        Le Hamas appelle � une intifada Plus
Australie: le Parlement adopte la loi sur le mariage gayPlus

FOREIGN AFFAIRS & GENERAL INFO

>>>>>>>>>>>>>>>Stay up to date on Russia - read RussiaFeed<<<<<<<<<<<<<<<<

>>>>>>>>>>>>>>>LOONIE WORLD<<<<<<<<<<<<<<<< http://looniepolitics.com/
Schiff says Donald Trump Jr. refused to answer some questions - David Nakamura, Washington Post
        Sen. Al Franken will resign, Democratic official says - Brian Bakst, MPR News
Trump Recognizes Jerusalem as Israel�s Capital and Orders U.S. Embassy to Move - Mark Landler, New York Times
        John Conyers III Was Arrested in February, Accused of Stabbing His Girlfriend - Yamiche Alcindor, New York Times
Trump�s Lies Are Fatally Wounding Our Democracy - Martin London, Time
        Tax Bill Is Likely to Undo Health Insurance Mandate, Republicans Say - Robert Pear and Thomas Kaplan, New York Times
Haley: Trump isn�t deciding who controls East Jerusalem - Mallory Shelbourne, The Hill
        No Matter Who Wins in Alabama, Republicans Lose - Albert Hunt, Bloomberg
A disputed capital: why the status of Jerusalem is so contentious- France 24
        Palestinians call �days of rage� over US Jerusalem move- Al Jazeera

North Korea boats off Japan spark spy scare; but some suspect just luckless fishermen- Reuters, The Times Of India
        Europe should have its own economy and finance minister, says EC- Jennifer Rankin, The Guardian
Russia election: Putin to run again for president- BBC News

>>>>>>>>>>>>>THE LEBANON DAILY STAR<<<<<<<< http://www.dailystar.com

Germany's SPD agrees to open govt talks with Merkel
        Israel bars Palestinians from occupation photo show
UN condemns 'heinous' sale of migrants in Libya as slaves
        On Trump's Jerusalem move, Merkel says Germany sticking to UN resolutions
Canada embassy to remain in Tel Aviv: Trudeau
        Russian lawmaker, citing N. Korean envoy, says Pyongyang does not want escalation
Protests across Palestinian areas, Mideast after Trump move
        US Jerusalem move risks return to 'darker times': EU's Mogherini
Tillerson holds tough line on Russia sanctions over Ukraine
        Netanyahu sees 'many' nations following U.S. move on Jerusalem

Jerusalem move puts region in 'ring of fire': Erdogan
        Arabs, Europe, UN reject Trump's Jerusalem decision
IMF warns on brewing risks in China's financial system
Did Santa Claus really exist? Ancient relic offers new clue

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>>>>>>>>>>>>>>> Sign Of The Times <<<<<<<<<<<<<<<
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From: Larry Kazdan
To: letters@straight.com
Subject:Re:  Douglas P. Welbanks: Debt Canada 101, December 6th, 2017

https://www.straight.com/news/1004841/douglas-p-welbanks-debt-canada-101

Increases in private debt are indeed worrying. Over-indebtedness led to the 2008 financial crisis when big banks had to be bailed out by governments. But national debts are different. Great Britain has had public debts for over 300 years, the U.S. for over 180 years, and total debt issued by governments typically increases with growth in their economies. These countries, and Canada as well, have central banks with sovereign currencies and consequently have unlimited fiscal capacities.  When necessary, they can pay for extended wars or bail out whole financial systems in times of crises.

Anxiety about our federal government debt is therefore misguided. When times are slow, the Canadian government must take robust action not by cutbacks which would make things worse, but by higher deficit spending to support the private sector and help put 1.2 million unemployed Canadians back to work. Those rightly concerned about rising household loans should remember that only when Canadians are employed and earning more income can they pay down their personal debts.  

Footnotes:

1 Alan Greenspan, former U.S. Federal Reserve Chairman, 1997

  http://www.federalreserve.gov/boarddocs/speeches/1997/19970114.htm

"[A] government cannot become insolvent with respect to obligations in its own currency. A fiat money system, like the ones we have today, can produce such claims without limit."

2.  Pavlina R. Tcherneva, Assistant Professor, Franklin and Marshall College

http://www.nextnewdeal.net/deficit-nine-myths-we-cant-afford

Myth #1: The government should balance its books like a private household.

Reality: Our federal government is the issuer of the currency, which makes its budget fundamentally different than the average citizen's.

***

A government is the issuer of the currency. The household, on the other hand, is the user.

***

Government is constrained only by the inflation it can create by over-spending, but its ability to spend is numerically unlimited. Households are constrained by their ability to get dollars from some form income and from borrowing, and both of those have real limits.

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