Monday 22 October 2018

Daily Digest October 22, 2018.

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

C BCBritish Columbia Calgary Edmonton Saskatchewan Manitoba Thunder Bay Sudbury Windsor Kitchener-Waterloo Hamilton Toronto Ottawa Montreal New Brunswick  Prince Edward Island Nova Scotia  Newfoundland & Labrador

North CTV Atlantic  CTV Montreal  CTV Ottawa  CTV Toronto CTV Northern Ontario CTV Kitchener CTV Winnipeg CTV Regina CTVSaskatoon CTV Calgary CTV Edmonton CTV British Columbia

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

Trudeau holds out option of cancelling arms sale to Saudi Arabia over journalist�s killing

Liberals write off $6.3 billion in loans as part of money never to be collected
        Tories table motion calling for government strategy on returning ISIS members
Trudeau, McKenna to announce compensation for federal carbon plan
        Phoenix pay problems haven�t improved, Auditor General finds

Justin Trudeau Says Why He Will Never Smoke Marijuana Again
        Conservatives say Energy East would prevent dependence on Saudi oil
Report casts doubt on value of protecting Chapter 19 in Cda-US trade talks
        Andrew Scheer�s CPC starting gun is more fizzle than sizzle
Trudeau, Scheer, Singh grapple with a restless electorate hungry for new choices
        Are Elections Still Sufficient?
Why are so many former prohibitionist politicians entering the marijuana bu$ine$$?

A year away from election day and no-name Scheer is right behind celebrity Trudeau: Ipsos poll
        Party�s over? Legalization could spell the end of the Marijuana Party
Conservative leader predicts a �nasty� election campaign in 2019
        Scheer marks one-year countdown to federal election with campaign-style speech
Renowned international human-rights lawyer to nominate Syrian White Helmets for Nobel Peace Prize
        Derek Fildebrandt becomes leader of new Freedom Conservative Party in Alberta
365 days to go � and Trudeau�s Liberals have the edge on the 2019 election
        Alberta Party, meeting in Edmonton, eyeing reduction to provincial carbon tax
>>>>>>>>>>>>>>>LOONIE POLITICS<<<<<<<<<<<<<<
Ontario to keep overdose-prevention sites - The Canadian Press, Toronto Star
        Canada officials deem U.S. a safe country for asylum seekers after internal review - Teresa Wright - The Canadian Press, Toronto Star
Trudeau and Scheer agree: Election 2019 is going to get nasty - Macleans
        Liberal government writes off $1.1B US loan to Chrysler, plus interest, docs show - Dean Beeby, CBC News
Majority of Canadians disapprove of government�s handling of irregular border crossings: poll - Staff, National Post
        Major Conservative ad buy an �opening salvo� for 2019 aimed at introducing Scheer to suburban men, female voters, say experts - Laura Ryckewaert, The Hill Times
Say thanks to Canadians in uniform, PM encourages on anniversary of Hill attack - Staff, CTV News
        Clock ticking for New Brunswick legislature to select Speaker as political deadlock winds on - The Canadian Press, Toronto Star
London, Ont., voters to make history with country�s first ranked ballot election - Kate Dubinski, CBC News
        Postal workers set to start strike tonight in Edmonton, Halifax, Victoria and Windsor - Marjan Asadullah, Toronto Star

B.C. voters will soon get mailed ballots on proposal to change electoral system - Camille Bains - The Canadian Press, The Globe & Mail
        Weaker than expected economic data not seen delaying Bank of Canada rate hike- David Ljunggren - Reuters, Financial Post
Condo developers scramble to keep up with pace of change in consumer tech- CTV News
        The dirt on clean electric cars- Niclas Rolander - Bloomberg, Toronto Star
Bombardier sues Mitsubishi jet program over trade secrets- The Canadian Press, The Globe & Mail
        The number of Canadian millionaires will jump by more than half in the next five years: Credit Suisse- Rajeshni Naidu-Ghelani, CBC News


Isra�l adopte un projet de loi controvers� contre les oeuvres �d�loyales�Plus
        Les d�bardeurs du Port de Montr�al en col�rePlus
Tourn�e royale: Meghan Markle all�ge son horaire pour se reposer Plus
        Politique f�d�rale: les lib�raux et les conservateurs au coude � coudePlus
�Allez vous promener dans le bois, SVP�Plus
        Disparition de Sylvain Lavoie: �Allez vous promener dans le bois, svp. C'est tout ce qu'on demande�Plus
Retrouv�e morte � Yamachiche: un dernier adieu � Oph�lie Martin-CyrPlus
        Sous pression, Trump durcit le ton envers l'Arabie saouditePlus
Trump �voque des �mensonges� de Riyad sur la mort de KhashoggiPlus
        Cam�ras de surveillance: la vid�o de la tuerie en Crim�e diffus�e � la t�l�vision russePlus

Des milliers de Honduriens ont repris leur marche vers les �tats-Unis depuis le MexiquePlus
        Gr�ce: des anarchistes s'en prennent � l'ambassade du Canada, d�g�tsPlus
Moscou avertit Trump qu'il est �dangereux� de sortir d'un trait� nucl�airePlus
        Retrait am�ricain d'un trait� nucl�aire: Gorbatchev d�nonce le �manque de sagesse� de TrumpPlus
�lections: les Afghans votent au p�ril de leur vie pour la deuxi�me journ�ePlus


>>>>>>>>>>>>>>>LOONIE WORLD<<<<<<<<<<<<<<<<
Count on Hillary Running in 2020 - Michael Goodwin, New York Post
        Trump approval jumps ahead of Obama�s midterm approval rating - Emily Birnbaum, The Hill
GOP lawmakers criticize Trump�s decision to withdraw from nuclear arms treaty - Karoun Demirjian, Washington Post
        5 Major Issues Dominating the 2018 Midterms - Klein, Parks & Verhovek, ABC News
Warren�s Cherokee Heritage Claim Is a Joke and an Insult - Rebecca Nagle, USA Today
        Dems Ending Once-Powerful GOP Midterm Turnout Advantage - Ed Kilgore, New York Magazine
Bipartisan calls for Saudi Arabia to face repercussions mount in wake of Khashoggi killing - Peter Holley, Washington Post
        UK wants deal to avoid Northern Ireland Brexit backstop: Minister- Reuters, The Times Of India
Cameroon cities clampdown ahead of results in presidential election- Ruth Maclean, The Guardian
        Russia nuclear treaty: Gorbachev warns Trump plan will undermine disarmament- BBC News

Maldives President Abdulla Yameen loses bid to annul poll result- Zaheena Rasheed, Al Jazeera
        �We don�t know where the body is,� says Saudi foreign minister on Khashoggi- France 24

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

Trump threatens to build up US nuclear arsenal against China, Russia
        Bolton denies US trying to blackmail Russia over INF treaty: RIA
China VP pays highest-level visit to Israel since 2000
        Let's work on shortcomings in INF arms treaty, Russia tells US
Turkey expects US to lift sanctions after release of US pastor: Erdogan spokesman
        Russia says Macedonian parliament vote to back country's name change was rigged
EU urges US, Russia talks to 'preserve' nuclear treaty
        Working with Trump 'not always simple,' says Trudeau
German industry slams U.S. pressure over Iraq deal
        New Ukraine church brings fears of violence

Coven of New York witches casts hex on Kavanaugh
        Migrant caravan resumes advance toward U.S.
Previous                                   Next 

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


From: John Feldsted <>
Subject: The number of Canadian millionaires will jump by more than half in the next five years: Credit Suisse
        By 2023, the number of millionaires in Canada is expected to rise 54% to nearly 2 million people

Rajeshni Naidu-Ghelani
CBC News
Oct 21, 2018
The number of millionaires in Canada will jump by more than half in the next five years, a faster growth rate than other developed countries like the U.S., according to a new wealth report from banking giant Credit Suisse.
Canada had 1.3 million millionaires in 2018 and that's expected to rise by 54 per cent to nearly two million people by 2023, the Global Wealth Report 2018 said.
Canada is ranked third � behind China and Russia � out of 24 large economies when it comes to the biggest percentage gain in the population of millionaires in the next five years.  In comparison, the number of millionaires in the U.S. will grow 18 per cent to more than 20 million individuals in the same time period.
The bank used financial and non-financial assets of wealth like home ownership and economic indicators like GDP (gross domestic product) and inflation from the latest International Monetary Fund (IMF) economic outlook database to create its forecasts.
Housing market wealth
High property values will continue to be an important driver of household wealth in Canada, despite recent cooling in the real estate market, the report said.
"One of the assumptions behind the increase in the number of millionaires is that Canadians' housing wealth will continue to rise � no collapse in that market," said Jim Davies, an author of the study and economics professor at Western University.
Data released by the Canadian Real Estate Association earlier this week showed that home sales fell almost nine per cent in September compared to a year ago. But, the national average price for a home sold last month rose 0.2 per cent to just under $487,000 from a year ago.
Another reason for the big forecasted increase in millionaires in Canada is that there are currently a lot of people with wealth just below $1 million US, Davies said.
"The predicted rise in wealth over the five years would take everyone with wealth equal to more than three times the average now into the millionaire group if it happened today," Davies said.
More than 46 per cent of Canadians have wealth between $100,000 to $1 million, according to the report.
He also added the figures for millionaires was in U.S. dollar terms, and the global study used the IMF forecasted exchange rate, which expects the loonie to rise 11.4 per cent to 86.3 cents U.S. by 2023.
"That approximately doubles the expected growth of average wealth in Canada, compared to what we would see if the calculation was done in Canadian dollars," he said. 
Even with increasing wealth among Canadians, Credit Suisse does warn that the economy faces some challenges, and its outlook is "somewhat uncertain."
"Approval has not been obtained for new oil pipelines, contributing to a glut of oil in the United States Midwest. This has forced the price for oil from Canada's tar sands well below the world price," the report said.
"Trade frictions have become serious, with the United States continuing punitive tariffs on Canadian lumber, steel and aluminum, despite having reached a tentative free trade agreement with Canada and Mexico to replace NAFTA."
It had been widely expected that the metal tariffs imposed by the U.S. and Canada in June and July, respectively, would be lifted after a new trade deal was agreed to before the Oct. 1 deadline, but that has not yet happened.
Canada vs. the U.S.
The wealth report also gave a snapshot of how wealth has grown for Canadians in the 18 years from 2000 to present.
Wealth per adult in Canada grew at an average rate of 5.4 per cent, with a small dip during the global financial crisis in 2008-09, similar to other developed countries.
Meanwhile, average wealth per adult in 2018 was at $288,260, almost 30 per cent lower than in the U.S.
However, wealth in the country was more equally distributed in comparison to the U.S. The median wealth per adult in Canada was $106,340, compared with $61,670 in the U.S.
Canada also had both a smaller percentage of people with less than $10,000 and a larger percentage of those with above $100,000 in comparison to the U.S.
Overall, the country's 1.3 million millionaires accounted for three per cent of the world's top one per cent holders of wealth.
This is disgusting. Over the past five years (January 2013 to September 2018, the CAN$ has lost 10.22% of its purchasing power. In other words, your 2013 after tax dollar purchased $0.8978 in goods and services last September.
Earnings are not keeping up with inflation. The rich can weather the loss, but most people are finding the erosion difficult to deal with. We have less and less money that buys us less. The middle class is hurting and those with less are in dire trouble. They will drive change.
We are overdue for a recession and despite the rosy forecasts for the housing market, housing is not immune from a major correction. Qualifying for mortgages is tougher and the market is driven by qualified buyers. A home advertised at $1.5 million with no qualified buyers is worth whatever it will sell for.
We have a spendthrift government in Ottawa with no plan for the future. The trans mountain $4.5 billion white elephant and cannabis fiasco tell us it will not be able to deal with a recession. The credit card is maxed out and our relationship with our largest trading partner is in the sewer. What could possibly go wrong?
John Feldsted


No comments:

Post a Comment