We’re living in the economic version of Groundhog Day….two more downgrades of Canada’s GDP growth but the big news is that politicians and central bankers don’t know what to do.

….relatedl: Super Hero Politics

The media just loves to elevate certain politicians to Super Hero status. The downside is that it provides cover for those political heroes to continue with the same policies year after year that lead to poverty, faltering economic growth, unemployment and political corruption….

Michael’s Mid-Week Update: OECD: Canada’s Growth Engine Still Needs a Rebuild

…also: That’s right. Canada and North Korea are the only 2 countries where you officially can’t spend your own money on health treatment. There’s a powerful lobby that would rather you spend a third of a year on a waiting list if you are only in pain and its not life threatening. The Lunacy Surrounding That Voracious Canadian Money Pit

Intensive Government management of our economy cannot solve the problems we have. There are too many variables involved. Massive debt problems, commodity prices, currency values, the actions of Governments at all three levels, International Government actions. They’ve all led to untenable derivative positions and banking system problems could trigger a significant liquidation panic at any time.

…Martin Armstrong on: Sovereign Debt Crisis – Banking Crisis – Derivative Clearinghouse Risk

Featured guest John Johnson  has had such a terrific track record with the CDN Dollar and the economy. Chief Strategist of of Davis Rea, John sees the next 2 weeks when market volumes pick up from the summer doldrums as critical in determining whether the stock market can move higher. Views the bond market as not capable of producing the returns investors need. Overall he is on the pessimistic side.

….Michael Campbell on: Complexity Failure Crisis & Panic