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Trump attacks Canada�s supply management for dairy as unfair to U.S.
Speculation building over Wynne�s future as Liberal leader
GST on carbon taxes in Alberta, B.C. worth millions in federal revenue
Sophie Gr�goire Trudeau to be the sponsor of HMCS Harry DeWolf, lead Arctic Offshore Patrol Ship
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Liberals 41, Conservatives 32, NDP 19, Green 3: Nanos
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Ontario eyes non-resident speculation tax to help housing market - The Canadian Press, Toronto SunTrudeau needs to act now on Canada�s border crisis - Candice Malcolm, Ottawa Sun
BC NDP say a vote for them a blow to the wealthy - Andrea Woo, The Globe and Mail
Ottawa wants young teens to avoid criminal record for pot possession - Kristy Kirkup, The Canadian Press, CBC News
Time to up Canada�s defence spending - Editorial, Toronto Sun
Ontario opens support centres for families of murdered and missing indigenous women - Tanya Talaga, Toronto Star
Canaccord analysts on the highs and lows of marijuana stocks- Michael Babad, The Globe and Mail
OPEC warns of a world that still has far too much oil- Julian Lee, Bloomberg News, Financial Post
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Justin Trudeau critiqu� par une sommit� de la lutte contre le r�chauffement climatiquePlus
Radio-Canada obtient l'aval du f�d�ral pour son projet de construction d'un nouvel immeublePlus
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Trump Juggles Foreign Policy Balls Obama Dropped - Claudia Rosett, The Hill
Conway: Dem leaders need to denounce violence at protests - Rebecca Savransky, The Hill
Trump Voters in a Swing District Wonder When the �Winning� Will Start - Matt Flegenheimer, New York Times
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Pakistan police arrest 22 in �blasphemy� mob killing- AFP, The Times Of India
Former South Korean president facing possible life sentence- The Associated Press, The Guardian
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Trump calls for reform of temporary worker visa program
Britain's May calls Trump, European leaders after poll announcement
Putin congratulates Turkey's Erdogan for referendum win: sources
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Germany, Russia, Ukraine, France discuss Ukraine peace deal
U.S. business group urges Washington to "use every arrow" against China
Australia toughens foreign worker visas, says Australian jobs for Australians
Trump congratulates Erdogan on disputed Turkey poll
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From: Larry Kazdan http://www.sott.net/
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To: letters@globeandmail.ca Cc: bcurry@globeandmail.com
Subject: Re: �Canadians were not impressed� by federal budget: survey, Bill Curry, Apr. 17, 2017
- http://www.theglobeandmail.com/news/politics/canadians-were-not-impressed-by-federal-budget-survey/article34720523/
- Quantitative Easing (QE) has demonstrated that countries like Japan, the U.S. and Canada can pay off their national debts by making journal entries on the books of their central banks that decrease government bond liabilities and increase the size of commercial bank reserves. There are no grandchildren involved in reducing the public debt.
- These monetarily sovereign nations with floating fiat currencies can never run out of their own money. Political leadership must educate the public that what matters is not the size of the deficit, but the state of the economy, and particularly the level of employment.
- As the Canadian-born economist John Kenneth Galbraith has stated, "If there is idle capacity and unemployment, the government must spend more that it receives in taxes.........there is no merit at all in a policy that just balances income and outgo, none whatever."
- Footnotes:
- 1. Warren Mosler is an American economist and co-founder of the Center for Full Employment And Price Stability at University of Missouri-Kansas City
- http://moslereconomics.com/2012/04/20/people-who-reject-free-lunches-are-fools-liquidity-trap-part-ii/
- "The public sector deficit/debt is nothing more than the net financial assets of the non govt sectors. And these net financial assets necessarily sit as balances in the central bank, as either clearing balances (reserves) or as balances in securities accounts (treasury securities). And �debt management� is nothing more than the shifting of balances between these accounts.
- (and there are no grandchildren involved!)
- (and all assuming floating exchange rate policy)"
- "The public sector deficit/debt is nothing more than the net financial assets of the non govt sectors. And these net financial assets necessarily sit as balances in the central bank, as either clearing balances (reserves) or as balances in securities accounts (treasury securities). And �debt management� is nothing more than the shifting of balances between these accounts.
- 2. How the Bank of Canada Creates Money for the Federal Government: Operational and Legal Aspects
- Library of Parliament http://www.lop.parl.gc.ca/Content/LOP/ResearchPublications/2015-51-e.html?cat=economics
- "By recording new and equal amounts on the asset and liability sides of its balance sheet, the Bank of Canada creates money through a few keystrokes. The federal government can spend the newly created bank deposits in the Canadian economy if it wishes."
- ***
- ".....there is no external limit to the total amount of money that the Bank of Canada may create for the federal government."
- ***
- "The Bank of Canada's money creation for the Government of Canada is an internal government process. This means that external factors, such as financial markets dysfunction, cannot cause the federal government to run out of money."
- "By recording new and equal amounts on the asset and liability sides of its balance sheet, the Bank of Canada creates money through a few keystrokes. The federal government can spend the newly created bank deposits in the Canadian economy if it wishes."
- 3. Almost Everyone's Guide to Economics
- John Kenneth Galbraith, Nicole Salinger
- Bantam Books 1978 Page 92
- "If there is idle capacity and unemployment, the government must spend more that it receives in taxes.........there is no merit at all in a policy that just balances income and outgo, none whatever."
- "If there is idle capacity and unemployment, the government must spend more that it receives in taxes.........there is no merit at all in a policy that just balances income and outgo, none whatever."
From: "John Feldsted" <jfeldsted@shaw.ca>
Subject: Cannabis (Marijuana) Legislation
Proposed legislation on cannabis (marijuana, mary jane, pot, weed or whatever you choose to call it) has nothing to do with keeping the drug out of the hands of children or criminals. It is a new source of tax revenue and more government jobs. It does not make cannabis legal.
Cannabis use is widespread through all income and social groups, from children through seniors. Criminals have enough grow operations to supply the Canadian market many times over. They export much of their product in exchange for cash, other drugs or firearms.
We are seeing a repeat of US Prohibition when some Canadians became millionaires making spirits for export to the US. The US government eventually realized that it could not block hardworking people from enjoying an alcoholic beverage of their choice after work and in social settings.
The government legalized, controlled and taxed beer and liquor production and sales. Bootleggers became legitimate businessmen as they had the distilleries ready to supply the market. Governments made laws with regulations and penalties.
Legalization of cannabis is following the same well-worn path. Laws and regulations - when legalization is as simple as removing cannabis from the prohibited drug list. There is a case for ensuring that cannabis sales are regulated and that drugs sold are pure and properly labeled as to strength. That is common sense.
There is no quick test to reveal cannabis impairment because there has not been any demand for it. That is now changing and the manufacturers of drug testing equipment will respond to the market. It is now worthwhile to create machines to test for cannabis impairment and supply police stations. Roadside test equipment will follow.
Government claims about someone supplying cannabis to minors facing a 14 year prison sentence are a lot of hot air. Liberal do not believe in minimum sentences and prefer that sentences be at judicial discretion. We will never see a14 year sentence imposed.
The government is relaxing control of a drug that a significant portion of society currently uses illegally. Minors will use the same sources of supply. Governments will find themselves in competition with criminals for the cannabis market. Some cannabis buyers will avoid government outlets for fear of recognition and damage to reputations. Not all employers, clients and customers are on board with cannabis use.
We are going to get dragged through months of bickering over the legislation and what it will and will not do. One thing it will not do is bring common sense, logic and reason to government. Cannabis law should be as simple and transparent as possible. Prohibiting sales to minors is a given. That has never stopped some minors from getting high. Many pages of regulation will not change social behaviour. If anything, legalization will make cannabis use less attractive as the mystique will be gone.
The government is correcting the mistake of classing cannabis as a close equivalent to cocaine and heroin. Many people recognized the difference long ago and acted accordingly. Trudeau is playing catch-up and moving cannabis from Schedule II to Schedule IV of the Controlled Drug and Other Substances Act while trying to make it look like he is doing something else.
If cannabis is �legal�, why is possession limited? If cannabis sale to minors is prohibited, why is possession by minors limited? It appears that cannabis will be a controlled drug, much like many prescription drugs rather than being outright legal. Oh, what a tangled web we weave . . . . . . . .
PS: Changes to impaired driving laws are long overdue and have little connection with cannabis law. In addition to illegal drugs, numerous prescription and over-the-counter medications can impair driving ability. We have many drug-impaired people on our roads but have focused on alcohol abuse. That must change and just adding cannabis is not enough. Impaired is impaired irrespective of the cause.
http://www.msn.com/en-ca/autos/news/police-trucker-on-drugs-drives-coast-to-coast-in-one-sitting/ar-BBzqZdX?li=AAggNb9
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