By: Keith Newman
Re Mathieu @ 9:59 pm: Circuit’s point is very à propos, illustrated by the student protests in Quebec. It was about who carries the cost of education – society as a whole or students (or recent...
View ArticleBy: Mathieu Dufour
Good point, Circuit. This deserves more publicity… I agree with the last bit of Keith’s comment: It is indeed pretty clever on the part of the federal government, especially given the current state of...
View ArticleBy: Keith Newman
Re Martin’s comment @ 11:29am. My concern re provincial debt is related to the fact provinces do not issue the currency and could potentially face insolvency. If this were to occur interest rates would...
View ArticleBy: circuit
To respond to your question, we could start by pointing out that the provinces with lowest debt-to-GDP levels are also those with the most financially vulnerable households....
View ArticleBy: Purple Library Guy
I do think that, all old Harper talk about firewalls aside, Canada’s provinces are knit together a bit more firmly than countries in the EU, and the mere existence of a fairly strong federal government...
View ArticleBy: Darwin O'Connor
If the big 5 banks are “too big the fail” and are protected by an implied Federal government guarantee, surly the provincial governments would be too.
View ArticleBy: Mathieu Dufour
I like the parent metaphor, though I agree that it is inherently hard to make the case, partly because of the terminology. As for being dismissive, I don’t mean to say that provincial debt would never...
View ArticleBy: Keith Newman
Of course our federal government cannot become insolvent since it issues its own free-floating fiat currency. It can run fiscal deficits that allow for near full employment, ultimately constrained by...
View ArticleBy: Mike
The real issue is it shouldn’t have been called debt in the first place since the government (in theory) is the master of the economy because it ISSUES the currency. i.e. you can’t have an economy...
View ArticleBy: Purple Library Guy
Hmmm . . . you could say that internal debt is like when you’ve got multiple accounts at your credit union and you move some from your holiday savings fund into your day-to-day checking, intending to...
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