With concerns over the global economic outlook intensified by another Chinese rate cut, all eyes are on the FOMC meeting this week, where investors will be looking to see if the Fed give any clear indication of when a rate rise is likely, or whether they’re poised to keep the markets guessing…Within this report Colin discusses:• What to expect from the October meeting• The last FOMC meeting and how markets reacted• How the Fed itself has reacted since the last meeting
Category Archives: Economics
Indian Ocean undeniable pivot-point for world economy: US – The Economic Times
Describing Indian Ocean region as an undeniable pivot-point for world economy, US has said the future prosperity and stability of the region is the collective responsibility of all nations.
Source: Indian Ocean undeniable pivot-point for world economy: US – The Economic Times
Ministers Continue to Advance Trans-Pacific Partnership Negotiations
CETA talks ‘re-launch’ in September: Council of Canadians to deliver petitions in Brussels
By Stuart Trew August 22, 2013 http://rabble.ca
Council of Canadians’ blog
Between September 17 and 19, the Council of Canadians will hand-deliver a CETA petition, signed by thousands of people in Canada, to Members of the European Parliament in Brussels. The petition focuses on the excessive (FIPA- or NAFTA-like) investor protections built into the proposed Canada-EU deal but it is more broadly designed to protest a deal that few people have heard of, even after four years of negotiations, and that a growing number oppose.
The timing of the petition delivery is especially important after news that the Harper government will “re-launch” the Canada-EU trade talks in early September, with the aim of wrapping up the negotiations before parallel EU-U.S. talks begin in October.
We need your help gathering signatures for the petition so it can have maximum effect in Europe and right here in Canada. There are two easy ways that you can help:
1. Circulate the petition to your friends and, if you’re a member of a union or other organization, to your colleagues as well. If you have a website, consider copying our web action image (top left) and use it on your site to link back to our petition page.
2. If you are holding or attending public events in the next two weeks, you could print off the letter and have people sign it right away. Hard-copy letters can be mailed to our offices at 170 Laurier Avenue West, Ste. 700, Ottawa, Ontario, K1P 5V5.
Council of Canadians Executive Director Garry Neil will travel to Brussels on September 17 to meet with Members of the European Parliament and trade justice allies, and will deliver the petitions at this point. So we would need to have all hard-copy petitions/letters at our head office by Monday, September 16. We will continue to accept online signatures to the petition up to September 17.
Thank you for your help and good luck!
For more information about the Canada-EU deal, visit Canadians.org/CETA
The Council of Canadians is Canada’s largest citizens’ organization, with members and chapters across the country. We work to protect Canadian independence by promoting progressive policies on fair trade, clean water, energy security, public health care, and other issues of social and economic concern to Canadians.
A Race To The Floor For Minimum Wage: Can It Be Stopped?
By Andrew Chernoff https://andrewchernoff.wordpress.com/
First it was Jordan Bateman of the Canadian Taxpayers Federation with his article, “The pay of government workers is way out of line” published July 31, 2013 in The Province, to which I made my feelings known about on August 3, 2013 in my commentary, “Bateman Advocates A Race To The Floor For Minimum Wage…You First, I’ll Give Ya A Push”.
Just like a bad smell you can’t get rid of, or a bad itch you just can’t seem to scratch, another proponent of the drive to lower wages——–using a corrosive and mean-spirited abuse of the privilege of free speech for hateful, venomous and spiteful unsupported comments with the intent to rile, incite anger and get an antagonistic reaction——comes forward.
Ms. Margaret Wente, a so-called journalist for the The Globe and Mail, woke up recently seemingly during that bitchy time of the month (the only way I can explain it), and decided to lambaste, insult and take undignified shots at Canada’s firefighters—all of the “Nations” firefighters—-without exception.
In her article on August 8, 2013, “A Nation of $100,000 Firefighters”, Wente charges, “municipalities do not love firefighters.”
Further, she claims to speak and know the feelings of our municipalities and regions, proclaiming, “ Across Canada, towns and cities are getting hosed by the skyrocketing costs of their fire departments.”, of which firefighters, she suggests, are the main reason for those increased costs because, municipalities, “simply match the settlements that everybody else got, including police. So the costs spiral ever upward,”
She continues, by adding insult to injury when she claims, “Thanks to arbitration settlements, your firefighters are the best paid (and possibly the most underworked) guys in town.”
Really?? Possibly the most underworked in MY town? Hmmm….she’s been in my town??….I think not!
She claims to have nothing against fire fighters. “I have nothing against firefighters, personally. But times have changed. We can’t go on like this. I could write the same column about the police. You guys are supposed to protect us. But we can’t afford you any more.”
But she does say, “They look good on calendars.” A sexist comment I dare say. And dare I do.
So nobody is safe. The police make too much. School teachers? Bus drivers? Janitors? Airline pilots? Ambulance drivers? Paramedics? Who is not a target for Ms. Wente?
She obviously has a lustful crush for Stephen Harper and his Canadian Austerity plan. In her desire to drive down wages, she is a true Harperite, spreading propaganda for that race to the floor for minimum wage, to increase that disparity between those that have, and those that don’t—between the 1% and the 99%.
According to Wente, our firefighters have barely anything to do, “Working conditions are pretty sweet too. Thanks to modern safety standards, there are very few fires left to fight. These days, most fire department calls are medical. To prove that they’re still needed, fire departments have been adding defibrillators and Jaws of Life, and frantically expanding their repertoires to respond to even minor non-fire emergencies. Still, there’s an awful lot of what we shall euphemistically call “down time,” which firemen fill by preparing meals, sleeping, watching television, polishing the trucks and rewinding the hoses.”
She claims that the costs and salaries for Canadian firefighters are for smaller cities, “typically the largest item in the budget. It accounts for upward of a quarter of their costs.” And that firefighters and their unions are so insensitive, greedy in the community and regions they live in, that “the costs spiral ever upward, and towns are forced to cut back on libraries and roads.”
This is one woman who has one hell of a bitchy time of the month; so much so, that a grizzly bear would be no match for her spite and hate.
“But the really crass way that the rich have of driving down wages is by subtly and not so subtly feeding people’s envy and greed…making us worry that someone else might be getting ahead, might be doing better than us. We aren’t talking about getting us riled over the wages of bankers, brokers and sports stars; we profile them in the fashion and shopping pages of the papers.”, OperationMaple writes in its reaction to Wente’s column, titled, “Let Us Count The Ways of Driving Down Wages”.
I continue with the following quote from OperationMaple’s article referred to above:
“The Rich and their Media Mavens saved the corrosive power of envy and greed for school teachers, fireman, bus drivers…all the folks that live next door and shop at the same stores we do. Let’s get agitated and angry with Joe down the street and Alice around the corner for having a job with a union, a negotiated wage and benefits and let’s try and pull them down to our situation…part time work and no benefits and lousy pay. Because when their economic situation is as desperate as ours, then everything will be ok.
They get paid too much and work too little and couldn’t we all get by with a volunteer firefighting force? Just because they are the ones who run into burning buildings when the rest of us are running from burning buildings, in Wente’s view, doesn’t justify the wage they get.
It used to be the case that when people got decent wages and benefits through collective action we’d all cheer them on and try to copy their efforts, create our own unions and seek our own collective success. Not anymore. Now we just want to tear down those folks lucky enough to have a union. The drive to lower wages by making all of us envious of our neighbours is succeeding. That’s why the 1% and their media allies, their media employees go after Employment Insurance and Firefighter wages…because it works and it distracts us from the folks that are truly criminally over-paid: bankers and brokers.”
I conclude with the following remarks.
The drive to lower wages may be succeeding in some minds, but it has not succeeded everywhere and with everybody. Are you going to let it happen to you? Will you start fighting back now, and let yourself be heard? Will you stand up? Will you get involved in civil disobedience and fight the good fight?
The drive to lower wages is nothing but a race to the floor of minimum wage. We are expected to give up more, so the rich can get richer? I think not.
The richest 300 people in the world are more wealthy than the poorest 3 billion combined, and every year rich countries take over 10 times more money from poor countries than they give in aid, according to therules.org. Find out more by visiting http://www.therules.org
Don’t let yourself succumb to the race to the floor of minimum wage.
