Mike's Daily Comment

Slow growth was forecast again yesterday in spite massive spending, record low interest rates and a weak currency. Why? For one, the increasing the tax and regulatory burden, especially during a slowdown, guarantees slow growth and job creation. An example of the lunacy is that increases at all 3 levels of Gov’t wiped out the recent middle class tax cut….

Don’t miss Michael’s Mid-Week Update:

Rates To Remain Stable & Low

Rates To Remain Stable – Central Banks & Gov’t To The Rescue

Posted by Michael Campbell

on Thursday, 14 July 2016 5:03

Michael’s Mid-Week Update: 

Central Banks have declared through their actions that they will firmly address all unwelcome distortions. The Bank of Canada lined up yesterday announcing stable interest rates going forward through a period of dismal economic growth. 
 
The increasing cost of government is restraining economic growth. While governments must be seen to be doing something their approach rarely solves the problem. Example – he Provincial and Vancouver lower mainland governments are now going to attempt to increase housing affordability. Their solution will pass laws, create a new bureaucratic police force while restricting property rights. These new rules and control of prices will not address the problem of 45K new people looking for housing in the lower mainland population next year….

related from Michael Campbell:

It’s Not Donald, Hillary, Barrack or Justin – Debt’s Running The Show

Balance.rocks

The Italian banks are in trouble threatening the entire European Banking system and the crisis could hit credit markets around the world.

also: The Political Establishment vs the Rest of Us

 

 

 

The raise in pay, pensions and benefits that Government employees have gotten vs the average Canadian is bad enough. Get into the higher ups in the political establishment and the numbers start getting outrageous. If it were a hockey game it would be political establishment – 25 average Canadian – 0

Related: The Political Establishment vs the Rest of Us

In the period of economic sub-par growth from 2007-2014, American’s median wealth dropped 43% while the net worth of an average Congressman has jumped 28%. Is it the same in Canada?

Don[t miss Mike’s Weekend Commmentary The Silence Is Deafening