Quote of the Week
UNICEF and the Center for Disease Control weigh in on the reopening of schools.
Shocking Stat of the week
There’s lots of ways to measure the impact of high taxes and regulations. This is one of the most interesting – and it’s shocking.
Mike needs help with a pivotal question about politics. Plus when it comes to voting Canadians prove they’re full of it
Different countries adopted different strategies to fight COVID-19. So far we haven’t had the courage or integrity to evaluate which ones worked and which ones didn’t.
Globally, there are a multitude of different answers (and even more non-answers) to the economic puzzle of how to account for and financially balance (aka pay for) negative environmental externalities. In Canada, the widely accepted answer to this issue is the polluter-pays principle, a core tenet so simple that a kindergartener could understand it, and indeed, could have written it. Canada’s Globe and Mail explains it like this: “A central tenet of industrial development is the polluter-pays principle: Those who profit must pay for the mess generated by pulling resources from the ground or turning raw materials into goods. If you want to own the upside, you’ve got to own the downside.”
“The last thing Canadians should want are privatized profits, and socialized liabilities,” the Globe and Mail article asserts. Even in Canada, however, where the polluter pays principle is widely accepted and adopted, there were and are still many companies and projects that have managed to skirt the issue when it actually comes to payment. “There are many examples,” reports the Globe and Mail. “Take the Giant mine, near Yellowknife. It was one of Canada’s oldest gold mines, but after trading through various corporate hands numerous times, the last owner went bust and left behind 237,000 tonnes of arsenic trioxide. Giant is part of a $2.2-billion taxpayer-funded cleanup of eight abandoned northern mines that will take 15 years.” CLICK for complete article
Neil McIver joins Michael to share some insights into what could be a tumultuous market response if there is no clear winner in the US November election. Specific ideas for your investments and some additional help as well.
Canadian immigration numbers have resumed massive drops, after briefly showing improvement in June. Government of Canada (GoC) data shows permanent resident arrivals made big declines in July. The previous month had briefly seen the declines shrink in size, providing optimism to real estate markets. However, the month proved to be an anomaly, with the latest data showing much larger drops in arrivals.
Canadian Permanent Resident Arrivals Drops Over 60%
Permanent residents arriving in Canada are back to making steep declines. There were 13,645 permanent residents admitted in July, down 60.29% from the same month a year before. Year-to-date the country has seen 220,500 people admitted, down 38.25% compared to the same period last year. June showed improvements in the trend, but those rolled back in the latest numbers…CLICK for complete article