J.O. Posted February 2, 2015 Share Posted February 2, 2015 Talk about under the radar, that's the first I've heard of that court case. Have I unknowingly been living under a rock? Link to comment Share on other sites More sharing options...
boestar Posted February 2, 2015 Share Posted February 2, 2015 No you have been living in the Harper information shadow. Link to comment Share on other sites More sharing options...
Seeker Posted February 2, 2015 Share Posted February 2, 2015 Wow! How in the world did you stumble across this? The implications are huge. Link to comment Share on other sites More sharing options...
DEFCON Posted February 2, 2015 Share Posted February 2, 2015 I've been told I exist in a world that's found somewhere between the pages? Link to comment Share on other sites More sharing options...
deicer Posted February 2, 2015 Share Posted February 2, 2015 Here's an article with some background on the suit... http://www.cowichanvalleycitizen.com/news/abram-excited-to-see-federal-bank-of-canada-lawsuit-1.161478 Link to comment Share on other sites More sharing options...
deicer Posted February 2, 2015 Share Posted February 2, 2015 More on COMER, including more background on the suit. http://www.comer.org/index.htm Link to comment Share on other sites More sharing options...
Fido Posted February 2, 2015 Share Posted February 2, 2015 Look up the term WACKADOODLE Link to comment Share on other sites More sharing options...
deicer Posted February 2, 2015 Share Posted February 2, 2015 How wack is it if you win your appeal? Link to comment Share on other sites More sharing options...
UpperDeck Posted February 2, 2015 Share Posted February 2, 2015 You know, my first reaction was "wacko" but I read a little bit of the decisions rendered and obviously, the Federal Court and Federal Court of Appeal agree that there is a case to be argued. A "justiciable issue" is one that reasonably invokes the jurisdiction of the Court and therefore, the claim that the Bank of Canada has "strayed" from its legislated course was not summarily dismissed.It should also be of general concern that this case does not appear to have been reported in the "mainstream press". Given the potential impact on our financial structure of a decision adverse to the government, one would have thought this merited coverage. Link to comment Share on other sites More sharing options...
Seeker Posted February 2, 2015 Share Posted February 2, 2015 They may win the appeal because the BoC has strayed from it's original purpose, however, I would bet a large sum that the government is frantically drafting new legislation to "modernize" the legislation that controls the BoC so in the end the whole thing will serve no useful cause.I agree that the lack of reporting on the whole thing is worrisome. Link to comment Share on other sites More sharing options...
DEFCON Posted February 2, 2015 Share Posted February 2, 2015 “I would bet a large sum that the government is frantically drafting new legislation to "modernize" the legislation that controls the BoC” Would that be ‘modernization’, or the removal of the guts of the legislation that was originally intended to protect the people from the greed of banksters that would otherwise have their way with the generally unaware masses? Link to comment Share on other sites More sharing options...
Seeker Posted February 2, 2015 Share Posted February 2, 2015 Would that be ‘modernization’,orthe removal of the guts of the legislation that was originally intended to protect the people from the greed of banksters that would otherwise have their way with the generally unaware masses?Same thing. Link to comment Share on other sites More sharing options...
Lakelad Posted February 3, 2015 Share Posted February 3, 2015 .Republicans gutting Dodd-Frank as Wall St. goes subprime againIt is not mortgages but subprime car loans that U.S. banks are repackaging now for foreign investorsMon Feb 02, 2015 -CBC NewsNeil Macdonald - Senior Washington CorrespondentA forlorn Russian banker named Evgeny Buryakov is sitting in a New York prison, accused of concocting a nefarious scheme to pour algorithmic poison into the very ear of American capitalism.Buryakov, according to the U.S. government, teamed up with a couple of other Russian agents working undercover as diplomats. Their mission: figuring out how to disrupt America's financial markets using automated trading algorithms — so-called trading robots.The diplomat-spies claimed immunity, and lammed it back to Moscow, leaving Buryakov in the lurch.Now, most people, me included, don't understand automatic trading algorithms.Apparently they can make companies all sorts of money by buying and selling at incomprehensible speeds — basically, an expensive device Wall Street uses to stack the odds even further against the ordinary chump.Who knows? Maybe the Russians could have done some damage.But, all due respect to the Justice Department, my guess is Buryakov and his co-conspirators were kids throwing stones at the system compared to the teams of bank lobbyists rewriting laws up on Capitol Hill these days.Little by little, these influence-buyers are gutting and filleting the Dodd-Frank Act, the package of bank regulations that was among the few big accomplishments of the Obama administration during the two years when Democrats controlled Congress.These lobbyists represent some of the same corporate villains whose greedy, in some cases criminal, machinations just about demolished the economy in 2008, tossing millions out of their jobs and impoverishing even thrifty and financially prudent citizens.George W. Bush's decision to rescue them with taxpayers' money (while letting thousands of smaller companies sink) was what ignited the hot outrage and sudden growth of the Tea Party.Bothersome restrictionsThat cause was arguably as just and righteous as the revolt against taxation without representation, the original American grievance from which the Tea Partiers took their name.Pretty quickly, though, America's more right-wing conservatives seemed to forgive Wall Street. Banks are the manifestation of capitalism, after all. Sure, they might have gone a little too far but in Republican doctrine they are "job creators" (a rather ironic term for the people behind the 2008 meltdown).They are also big donors to politicians.And now, just seven years after so many people nearly lost everything, conservative lawmakers are hard at work dismantling those damned bothersome restrictions placed on banks to prevent a repeat of the great meltdown.Late last year, Republicans refused to pass a larger spending bill unless the White House agreed to undo a section of Dodd-Frank that forced banks to move their risky derivative trades to units that don't enjoy taxpayer backing.(Banks love taxpayer backing, as they demonstrated so spectacularly in 2008.)'The post-meltdown concept of lenders requiring borrowers to have substantial "skin in the game" is also apparently passé.'. Link to comment Share on other sites More sharing options...
Lando Calrissian Posted February 3, 2015 Share Posted February 3, 2015 WestJet expects Q1 fuel costs to fall 30 per cent, but travellers shouldn't bank on lower fares.http://business.financialpost.com/2015/02/03/westjet-airlines-ltd-expects-30-drop-in-fuel-costs-but-fares-wont-budge/ Link to comment Share on other sites More sharing options...
DEFCON Posted February 7, 2015 Share Posted February 7, 2015 http://www.socred.org/blogs/view/the-case-to-reinstate-the-bank-of-canada Link to comment Share on other sites More sharing options...
DEFCON Posted February 18, 2015 Share Posted February 18, 2015 If anyone's interested, the first ten minutes of this video is enough to provide the viewer with the rationale for the suit against the Bank of Canada. Link to comment Share on other sites More sharing options...
deicer Posted February 20, 2015 Share Posted February 20, 2015 Interesting article in the New York Times...http://www.nytimes.com/2015/02/19/opinion/nicholas-kristof-the-cost-of-a-decline-in-unions.html?smid=fb-share&_r=0 Link to comment Share on other sites More sharing options...
deicer Posted February 20, 2015 Share Posted February 20, 2015 Interesting article on the 'A$$hole Effect' in the Globe.....http://www.theglobeandmail.com/globe-debate/its-true-the-rich-really-are-ruder/article23044015/ Link to comment Share on other sites More sharing options...
DEFCON Posted February 20, 2015 Share Posted February 20, 2015 "This isn’t always a function of wealth, just of narcissism and assumed superiority. I know several witless academic egomaniacs who routinely give themselves a free pass to be uncivil. But because wealth is the most obvious marker of status in capitalist societies, it is also the most powerful lever of being a jerk." Perfect! Link to comment Share on other sites More sharing options...
mrlupin Posted March 31, 2015 Author Share Posted March 31, 2015 Stephen Poloz warns of ‘atrocious’ first-quarter economic growthhttp://www.theglobeandmail.com/report-on-business/economy/stephen-poloz-warns-of-atrocious-first-quarter-economic-growth/article23681442/I wonder if the economy bounces back from this? Link to comment Share on other sites More sharing options...
deicer Posted March 31, 2015 Share Posted March 31, 2015 To answer your question on the economy.....https://www.facebook.com/video.php?v=1077163725631037&fref=nf Link to comment Share on other sites More sharing options...
mrlupin Posted May 14, 2015 Author Share Posted May 14, 2015 More job cuts... Alberta is experiencing layoffs in the oil patches due to low oil prices, exploration work has dropped off for natural resources, GM is laying off 1000 in Oshawa (auto sector is getting weaker and weaker in Ontario)Bell helicopter lays off 300, and now Bombardier is laying off 1800 employees. These aren't "Target" or mcjobs, they are well paid jobs that are not easily replaceable. On the airline front, after reading the AC financial, (and Bean's analysis of what is happening at AC) I notice that although AC seems to be improving it's situation relative to past quarters, it appears to be increasing capacity at the expense of yield. That speaks very poorly of the market's capacity to accept extra capacity. On the Westjet side, it's pretty much the same. RASM is down. It will be interesting to see if this was mostly a quarterly anomaly or if it's a sign of things to come. Bombardier eliminates 1,750 jobsBusiness jet demand is down...http://www.cbc.ca/news/business/bombardier-eliminates-1-750-jobs-1.3073881 Bell Helicopter to lay off 300 in Quebec after winning coast guard contracthttp://www.cbc.ca/news/business/bell-helicopter-to-lay-off-300-in-quebec-after-winning-coast-guard-contract-1.3052255 GM Canada will lay off 1,000 Camaro assembly workers this yearhttp://www.ky3.com/news/local/gm-canada-to-layoff-1000-camaro-assembly-workers-this-year/21048998_32662660 Timeline: Tracking the layoffs in Alberta’s oilpatchhttp://globalnews.ca/news/1889598/timeline-tracking-the-layoffs-in-albertas-oilpatch/ Link to comment Share on other sites More sharing options...
J.O. Posted May 14, 2015 Share Posted May 14, 2015 Great time to be calling an election. Link to comment Share on other sites More sharing options...
deicer Posted May 19, 2015 Share Posted May 19, 2015 Not happening in just Ontario or Canada...http://www.bloomberg.com/news/articles/2015-05-19/iowa-spent-50-million-to-lure-ibm-then-the-firings-startedOne paragraph stands out.....Grassley, a Republican, wrote to Rometty on April 16 to express concern about “reports of mass layoffs” even as IBM requested H-1B work visas to allow 5,800 foreign employees to be authorized to work for the company in the U.S., he explained in an interview. “What are you doing to make sure you make a good faith effort to hire Americans?” he said. IBM declined to comment further on Grassley’s comments. Link to comment Share on other sites More sharing options...
Super 80 Posted May 20, 2015 Share Posted May 20, 2015 Sounds like the deal Alberta and Edmonton made with Dell.Free land, tax breaks, millions in subsidies. They were gone in less than four years.I am pretty sure anybody selling "diversification" could take Alberta for millions with little or no effort beyond a powerpoint presentation. Link to comment Share on other sites More sharing options...
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