Posts Tagged ‘Economic Bubble


Is Stephen Harper the Worst Prime Minister in Canadian History?

With elections in Canada approaching on Monday October 19th, 2015 there are questions surrounding the most controversial Prime Minister in Canadian History. How will he be remember? Let’s look at some facts looking back at his 9 year tenure in power as follows:

* Harper has the track record of the worst economic growth in Canada of any PM since the Great Depression
* reverting from the conservative approach the previous Liberal governments enforced the PM has allowed the Canadian banks to take huge risks in the footsteps of their American counterparts who brought about the 2008 crisis
* appointment of corrupt government officials by the PM
* More than 140 Canadian food plants have closed since Harper took office
* Combined debts at all levels of government have sky rocketed
* Our future has been mortgaged by chasing the short term growth at all costs mentality
* the PM has placed all his eggs in one basket in his economic growth policies and management
* Canada has become the worst polluter per capita in the world
* Vast agricultural fields have been destroyed for building unsustainable real estate overdevelopment
* The most soldiers have been killed while Harper has been in office than any PM since the Korean War
* The success in the policies of the PM has been concentrated towards the top 10-20% of companies and individuals
* Small business has been hurt by Harper and the result are countless boarded up shops on main streets all over Canada
* The PM has helped our precious resources and prestigious companies to be sold off to the highest foreign bidder
* encourage the CMHC to instead of being used to help genuine first time home buyers buy reasonable homes instead to support mass speculation in real estate
* housing costs for buyers and renters have never consumed such a high proportion of their income
* PM tries to fix external political problems in foreign countries when he cannot fix the domestic social problems in his own
* Various Canadian industries are suffering the plight of the current PM’s administration such as mining, oil and gas resources, advertising, retail, technology, manufacturing¬†¬†to name a few
* Never has there been a bigger gap between the rich and the poor in Canadian history than under Harper
* allowing the costs of post secondary education tuition to balloon out of control for students that have forced record debts to pursue higher education
* low accountability standards allowing white collar criminals who have run their Canadian corporations into the ground leaving shareholders, pensioners and employees empty handed with a slap on the wrist
* lack of serious investment in research and development or the future of the country instead of returning party contributors favours

Is Stephen Harper the worst Prime Minister in Canadian history?


Is Obama the Ghetto President?

With US stock markets soaring to all time highs of late and prosperity amongst the wealthy also to record levels Barack Obama in his 7th year as US President has created some disturbing issues or concerns that are not reported in mainstream media. Record number of individuals are reliant on food stamps, 1 in 5 people are in collections, the gap between the rich and the poor has far exceeded that in the Roaring 1920’s and is at record levels, 40% of the country has no savings for emergencies, more than half of all students in the public school system come from poverty, child poverty is unprecedented, the average debt per household is over $200,000, there are an unprecedented number of boarded up properties, there are record number of commercial as well as residential real estate sitting vacant or classified as zombie foreclosures, poverty rates and indifferences amongst black and other minorities within America are staggering, post secondary school education has soared and become only affordable to the rich, student loan debt is staggering and consumers are in personal debts at record levels to name a few concerns. It seems that Obama’s legacy as President will have only benefited very few connected to Wall Street as well as the top echelons of wealthy in society and will be remembered as one of creating the greatest disparity in American history. Coming from a Senate position in Illinois where economic disparity and poverty is unsustainable (especially in areas of Chicago) it seems though Obama has left a trail of not addressing such issues almost turning his back to them. When images of riots happening in some of the poorer neighbourhoods (such as what happened in Missouri) it is becoming apparent that the Obama administration has created more economic ghettos in America? Will he be remembered as the Ghetto President?


Is Oil in Another Bubble?

With record high prices of gas at the pumps of late in North America, much like before the 2008 crisis, there seems to be a disconnect between oil futures and the actual demand. Below are some indicators that oil and petroleum is due for a long awaited correction due to economic conditions:

– India’s Diesel consumption, which accounts for over 40 percent of local fuel sales, declined 1 percent in the year, its first fall in more than a decade
– Demand for fuel oil in the U.S. fell to an average of 154,000 barrels per day (bpd) for the week ended April 11, the lowest level since the US Energy Information Administration (EIA) started tracking the data in 1991
– Total U.S. petroleum deliveries (a measure of demand) were down in Q1 of this year (compared to last year)
– A slowdown in Chinese as well as Global oil demand growth is occurring
– Inventories for Crude Oil in the US have been sky rocketing of late in the world’s top oil consuming nation (United States) are close to exceeding record-highs. This is also occurring in the world’s second biggest economy (China)
– The average American is driving less due to the record high gas prices at the pumps and spending record amounts of their personal expenditures on energy costs

With central banks and world governments focusing on supply side economics (low interest rates, low margin trading requirements for trading as well as mass accumulation of inventories) they have encouraged mass speculation on oil and gas futures much like before the 2008 crisis. Will there be another economic fallout due to these imbalances? Is it deja vu?


Is it the Roaring 20’s All Over Again?

With global stock markets at all time or multi-year highs as well as global real estate sky rocketing, it makes one wonder how this happened just over 4 years from a near melt down of the global economic system initiated by just some hundreds of billions of sub prime mortgages in the United States. The Gap between the rich and the poor has never been so high in world history, with wages for the middle class staying stagnant for decades after taking inflation into account as well as global poverty at record highs. How can this happen and has this happened before? The answer is in the roaring 20’s. Coincidentally with the release of the Gatsby movie earlier in the year (where the role was reprised by Leonardo DiCaprio) celebrities have never made so much money in their lives (often drunk as well as wastefully partying and spending their fortunes away), executives have never made so much more than the average employee, people are paying record amounts for mega mansions and high end luxury real estate and luxury vehicles or goods. The rich economy is prospering while the economy for the remaining majority average population is struggling. Sales at high end luxury producers like Porsche, Tiffany, Coach, Prada, etc. are soaring while regular retailers like Sears, JC Penney and even Walmart are struggling. The Federal Reserve, ironically founded 100 years ago, have replicated their loose monetary policies of the roaring 20’s this past decade allowing the global stock markets to be up in an unprecedented 10 out of the last 11 years. Will this end differently than how the Roaring 20’s? Probably not. Why would anyone intentionally create such imbalances? To help the elites get richer off the rest of the population knowing their are easy manipulated and distracted by lifestyle obsession. Here we go again….