CANADIAN Daily Digest October 24, 2017.

The DAILY DI1GEST: INFORMATION and OPINION
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>>>>>>>>>>>>>>>NATIONAL NEWSWATCH<<<<<<<< http://www.nationalnewswatch.com/

Liberals �double down� on deficit spending amid improving economic outlook

Trudeau and Poloz Are On an Economic Collision Course
        By-election upset victory fuels Liberal hopes in Quebec
Trudeau credits Liberal economic agenda for upset win in Quebec byelection
        Judge rules not enough evidence to continue with Sudbury byelection case

Federal economic outlook improves, deficit projected at $19.9B in 2017-18
        Judge slams Ottawa for delays over $35-million CSIS lawsuit alleging workplace Islamophobia, racism and homophobia
Quebec justice minister apologizes for confusion around new face-covering law
        Liberals byelection win in Quebec spells trouble for other federal parties
Since there�s no fiscal meltdown in sight, the Liberals will just keep on spending
        Bill Morneau, Canada�s very expensive finance minister
Why did Masuma Khan�s post invite censure from Dalhousie if free speech is so vaunted?
        Why Quebec�s Bill 62 is an indefensible mess
Quebec�s niqab ban uses women�s bodies to bolster right-wing extremism
        Should Canada emulate Australia with a �budget honesty� charter?

Canada decides who crosses our border, �not the Kremlin,� says Goodale, amid Magnitsky spat
        Liberal byelection win in Quebec shows blueprint for 2019 success
�We can win right here�: Brian Jean steps on Rachel Notley�s turf during UCP campaign stop
        Morneau Shepell ties to Bombardier flag �minefield� for finance minister: Opposition critics
Call it Tinder for policymakers: a new TV show sends Canadian politicians on blind �dates� and sparks fly�over issues
        Air Canada Crew Says Radio Didn�t Work During SFO Landing: FAA
The niqab law is appalling. It�s also clever, amoral politics.
        The tenuous constitutionality of Bill 62
Is Canada headed into a new period of national disunity?
        Who the f&%$ is Andrew Scheer?

Canada needs to follow Quebec lead on taxing Netflix
        The demise of democracy
Dangerous intersection of law, politics, business and human rights
        Beleaguered Liberal government hopes to deliver �good news� in fall economic update
Liberals 35, Conservatives 31, NDP 18, Green 7 in latest Nanos federal tracking
        Liberal government to boost Canada child benefit payments: sources
Trudeau Can Bank or Spend Economic Dividend in Fiscal Update
        Government should educate consumers about using food labels
Elizabeth May asks for maturity as MPs mock Marc Garneau�s words

Liberals take Tory seat in Quebec, Conservatives win Alberta byelection
        NZ Prime Minister-Elect Jacinda Ardern shares Skype call with Justin Trudeau
NDP, Conservatives seek to rewrite law that let Morneau keep shares in family firm
        Putin puts critic on Interpol wanted list after Canada passes Magnitsky law
Bill Morneau Says Opposition MPs Are �Obsessed� With His Personal Finances
        Access to Information reforms fall short, pro-openness voices tell MPs
Human rights ruling on First Nation children caused Health Canada confusion: docs
        New U.S. ambassador has no high-level diplomatic experience but promises �old-school manners�
Unifor head Jerry Dias �glad to be in the middle of it� on NAFTA talks
        Singh shuffles former rivals back into the fold

Kenney says Quebec law on face-coverings is overkill
        Feds to show smaller deficits in updated outlook, but no timeline to balance
Polls show trouble on horizon for Liberals over Morneau�s mess, says Nanos

>>>>>>>>>>>>>>>LOONIE POLITICS<<<<<<<<<<<<<< http://looniepolitics.com/
Working Families coalition back to haunt Tories with new advertising blitz - Robert Benzie, Toronto Star
        Quebec justice minister says Bill 62 on face coverings is not repressive - The Canadian Press, CTV News
People with diabetes losing disability tax credit because of �advances in technology�: minister - CTV News
        Failure to warn against hiring outside contractor an �oversight� defence lawyer argues - Rob Ferguson, Toronto Star
New U.S. ambassador has no high-level diplomatic experience but promises �old-school manners� - John Ivison, National Post
        Have Kathleen Wynne�s Liberals lost the TV plot? - Martin Regg Cohn, Toronto Star
Why Quebec�s Bill 62 is an indefensible mess - Paul Wells, Macleans
        Alberta Tories deregister all constituency associations - James Wood, Calgary Herald
Diabetics� troubles no big deal to Liberals - Mark Bonokoski, Toronto Sun
        In Sears� shadow: Hudson�s Bay CEO exit has investors nervous about department stores� future- Financial Post
Stelco looking to raise $200 million in IPO- The Canadian Press, Toronto Star
        As Bank of Canada ponders another rate hike, survey suggests many are really feeling the last ones- CBC News
Great-West to offer program to help workers with student debt save for retirement- Jacqueline Nelson, The Globe and Mail
        Amazon says it received 238 proposals for 2nd headquarters- CTV News

TOUTES LES NOUVELLES PUBLIES DEPUIS 24 HEURES http://fr.canoe.ca/infos/aujourdhui/

Les r�publicains lancent deux enqu�tes visant Obama et ClintonPlus
        Gilbert Rozon: le 375e resserre son processus de plaintePlus
Une nouvelle cyberattaque frappe l'Ukraine et la RussiePlus
        New York inond�e tous les 5 ans, un sc�nario possible Plus
Une adolescente sans papiers obtient le droit d'avorterPlus
        Davantage de demandes, mais pas plus d'intervenantes dans les CALACSPlus
Climat: les dirigeants indig�nes r�clament plus de moyens pour les for�tsPlus
        Le co�t du changement climatique pourrait exploser Plus
Investissement de 250 millions $: Kruger regarde vers l'avenirPlus
        M�ga-projet de d�veloppement de 500 milliards $Plus

L'extr�me droite promet �une nouvelle �re� en AllemagnePlus
        Portugal : le bilan des incendies d'octobre s'alourdit � 45 mortsPlus
Un chasseur d'�paves affirme avoir trouv� le plus ancien astrolabe nautiquePlus
        Le Parlement europ�en pour la disparition du glyphosate dans l'UE d'ici 5 ansPlus
Washington annonce des mesures punitives contre l'arm�e birmanePlus
        Les syndiqu�es de 578 CPE seront en gr�ve le lundi 30 octobrePlus
Les radicaux menacent d'encourager une �d�sob�issance civile massive�Plus
        Les accus�es sur les lieux de l'assassinat de Kim Jong-Nam

FOREIGN AFFAIRS & GENERAL INFO

>>>>>>>>>>>>>>>Stay up to date on Russia - read RussiaFeed<<<<<<<<<<<<<<<<

>>>>>>>>>>>>>>>LOONIE WORLD<<<<<<<<<<<<<<<< http://looniepolitics.com/
Donald Trump: King of Deregulation? - Peter Boyer, The Weekly Standard
        Is Tone of Trump-Russia Probe Changing? - Byron York, Washington Examiner
Lynch, the Clintons and a Series of Fantastic Coincidences - Gregg Jarrett, Fox News
        Bush and Obama Remind Us: This Is Not Normal - Jen Psaki, CNN
Poll finds broad support for renegotiating nuclear deal with Iran - Jonathan Easley, The Hill
        Ivanka joins push for tax reform - John Wagner, Washington Post
Tillerson seeks Arab help in US effort to isolate Iran- The Associated Press, The Times Of India
        ISIL accused of killing scores of Qaryatayn civilians- Al Jazeera
South Korea: �Time running out to prevent a nuclear N. Korea�- Marc Perelman, France 24
        Catalonia Spain: Officials �won�t follow orders from Madrid�- BBC News

Israeli president accuses Netanyahu and allies of endangering democracy- Peter Beaumont, The Guardian

>>>>>>>>>>>>>THE LEBANON DAILY STAR<<<<<<<< http://www.dailystar.com

Einstein's theory of happiness sells for $1.3M at auction
        Qatari-Palestinian cellular network launches in Gaza
Russia vetoes UN resolution on extending Syria gas attacks probe
        Russia: Less than 5 pct of Syria still under Daesh control
Iraqi Kurd parliament delays elections for 8 months
        Catalan leaders plan legal challenge to Spain's takeover
Far-right AfD vows 'new era' at German parliament debut
        Trump's refugee ban ends, new screening rules put in place
EU nations clinch long-sought deal on 'posted workers'
        EU's Tusk says 'up to London' how Brexit ends

Unlikely allies eye vote to legalize cannabis in NZ
        China's Communist Party inserts Xi into party constitution
Israelis doubt Lieberman�s Hezbollah shelling claim
        Tillerson sees room for Taliban in Afghan government
After election win, Abe prioritizes North Korea, aging Japan
        Cyprus faces waste deluge as tourist numbers soar
Rouhani: Iran�s regional status has never been stronger

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>>>>>>>>>>>>>>> Sign Of The Times <<<<<<<<<<<<<<<
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From: Larry Kazdan
To: Letters Editor Cc: adb@cp.org
Subject: Re: At mid-mandate and with extra cash, Liberals to chart fiscal course toward 2019, Andy Blatchford, October 22, 2017

http://business.financialpost.com/pmn/business-pmn/at-mid-mandate-and-with-extra-cash-liberals-to-chart-fiscal-course-toward-2019

Finance Minister Bill Morneau intends to reduce the government's debt-to-GDP ratio.  But this measure, based on gold standard days when national governments could run out of bullion and fail to repay their borrowings, is today irrelevant. The gold standard era ended more than 45 years ago, and sovereign governments like Canada, the U.S. and Japan can always create fiat money at will, and can always service any debts denominated in their own currencies. 

The only meaningful way to appraise the fiscal position of a monetary sovereign like Canada is to assess the state of the economy in real terms: do we have sufficient job opportunities, a healthy environment and first-class services?  Currently Canada has 1.3 million unemployed, many unused resources, and few signs of inflation. Public purpose today demands a robust program of infrastructure renewal and poverty reduction within the framework of a full employment policy.  Shackling the economy with arbitrary restraints is foolish.

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

Fiat money is a tax credit not backed by any tangible asset.

http://www.correntewire.com/myths_scares_lies_and_deadly_innocent_frauds_part_one

In 1971 the Nixon administration abandoned the gold standard and adopted a fiat monetary system, substantially altering what looked like the same currency. Under a fiat monetary system, money is an accepted medium of exchange only because the government requires it for tax payments. Government fiat money necessarily means that federal spending need not be based on revenue. The federal government has no more money at its disposal when the federal budget is in surplus, than when the budget is in deficit. Total federal expense is whatever the federal government chooses it to be. There is no inherent financial limit. The amount of federal spending, taxing and borrowing influence inflation, interest rates, capital formation, and other real economic phenomena, but the amount of money available to the federal government is independent of tax revenues and independent of federal debt.

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