Saturday, 13 July 2013
The second video is basically a summary of economist Hyman Minsky's "financial instability hypothesis". The idea is that rising asset prices are prone to unsustainable, speculative bubbles because as prices go up people buy more (rather than less, as is the typical price-demand relationship). To finance the purchase of increasingly costly assets, consumers will borrow more debt which increases their purchasing power. With more purchasing power people continue to bid up the price and hence demand for the assets. This vicious cycle continues until people can no longer afford to service their debt, at which point the whole bubble collapses.
|Real Housing Prices in Canada & the US.|
Image Source: The Economist
(obtained via Krugman's blog)
Household debt and house prices in Canada, by the way, have gotten the attention of one Nobel Laurette in economics and an economist who predicted the US housing crash.
Cheerful thoughts, eh?
Thursday, 11 July 2013
|Vic Toews, Member of|
Parliament for Provencher,
resigned to focus on
"family, private sector".
Image Source: Wikipedia
I suspect the case will be him advising companies on federal policy and law, perhaps with an eye for getting through it's loopholes as well as maybe some outright corporate lobbying. Or maybe he's being rewarded for possible past legislative favours?
Just a reminder, former CON Premier Gary Filmon served on MTS Board of Directors after privatizing the company as Premier. It isn't reasonable to rule out the possibility of corporate power players rewarding those who pursue favourable policies with cushy jobs.
Regardless, don't let the revolving door hit you on the way out, Vic.
Toews has disgraced our fine province with enough of his wretched antics and so good riddance to him.
For starters, he had a hissy fit with all sorts of drivel spewing in every direction after his dirty deeds as a spouse were made public. Apparently, there's a long history of whacky electronic communications coming from the ex-MP for Provencher whenever someone gets under his thin skin.
He asks people to support draconian security bills or "stand with [...] the child pornographers". That's right, fellow Manitobans and Canadians, if you fear runaway surveillance statism - the horrors of which were revealed by Snowden in the US a year after Vic's announcement - then you're with the "child pornographers" under Toew's rhetoric.
Don't know about you, but I'd rather not have the government spying in on everything I do.
All in all, though, I have to thank him for resigning. I called for it a year ago and it's good to see that enough factors have come into play to make my wish a reality. Hopefully the next MP for Provencher will better embody the spirit and legacy of the father of Manitoba than ceiling Vic.
Wednesday, 10 July 2013
Saint Boniface CON MP Shelly Glover seems to have had a bright idea about how to deal with the fallout from her party's misgovernment. Glover, the member of the party that hates worker representatives who worked in a job that enjoys the benefits of unions, has decided to join the Official Opposition of Manitoba. Governing, it seems, is just too hard for these CONs.
|This message brought to you be|
Via Nicole Audette
The PST hike was a bad idea and it would've made more sense for a purportedly progressive party to use progressive taxes to finance expenses - but the Harper CONs surely have enough problems of their own. Is launching a political campaign against the Manitoba NDP the most important thing to do now?
Though messing in Manitoba's affairs has sorta been a pastime of theirs. The Provincial Nominee Program (PNP) was one of the few good policies Manitoba Conservative Premier Gary Filmon brought in.
In a lightly populated province, whose harsh continental climate fails to draw new arrivals, the PNP served to bring in new residents, new workers, and new ideas. It gave Manitoba the policy space it needed to construct solutions and work with community groups to welcome newcomers and create dynamism. It would be no exaggeration to say that this program has played a part in increasing the vitality and desirability of the West End and downtown in the late 2000s.
So Stephen Harper and his anti-Annex-secularist-man-of-the-immigrant/thank-me-for-denying-refugees-much-needed-healthcare Immigration Minister Jason Kenney gutted the Manitoba success story. There goes a Made in Manitoba policy that served our needs and helped our community.
Rather than defending their last leader in government's greatest legacy, Manitoba CON MLAs blasted the Manitoba NDP and shilled for their federal counterparts anti-Manitoban move. Thank you, (then McFadyen) CONs, for being an accomplice to the screwing over of our province. I'm sure when Manitobans vote against the NDP by voting for you next election we'll be in a for an age of accountability and good policy ... or not.
The appearance of a tit-for-tat relationship you Manitoba CONs have with the Federal Party is pretty amusing, though. We shill for you, you (effectively) advertise for us is what it looks like.
That'd be a nice gig is all I'm saying.
Monday, 1 July 2013
|Winnipeggers strive yet again for the largest|
living flag in the country this Canada day.
Image Source: Ron Gillfillian/Downtown Winnipeg BIZ
As our city strives to hold the title of largest living flag in Canada, I wish you a happy Canada day. It's a great time to acknowledge all our country has to offer and the potential, through working together, that Canadians can achieve.
From coast to coast to coast, this is a great country but it has the potential to be a greater, fairer, and more just.
From far and wide,
Happy Canada Day