Highlights from the 2022 Federal Fall Economic Statement
On November 3, 2022, Canada’s Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland delivered the 2022 Fall Economic Statement (FES 2022). FES 2022 highlighted key metrics of the Canadian economy and the government’s proposed new spending measures.
October Market Insights: Is The Fed Repeating The Mistake Of 1937?
In a recent article, Economist Bradford DeLong, shares a conversation he had with U.S. Secretary of the Treasury Janet Yellen, where she said that with the lack of models, the U.S. Federal Reserve (Fed) is prone to react to the groupthink of media pundits. If true, the Fed, concerned about repeating the mistakes of the 1970s, may be repeating the mistakes of the 1930s.
September Market Insights: Waiting for Godot
Investors are waiting for their own Godot – certainty about the future. Like Godot, that certainty never comes. Yet, we keep waiting for it, even with a highly levered global economy that’s experienced two exogenous shocks. Central bankers are concerned that inflationary expectations will become unanchored.
August Market Insights: The Global Economy has its Hamlet Moment
Rebirth or a Financial Crisis
“To be or not to be, that is the question. Whether ‘tis nobler in the mind to suffer the slings and arrows of outrageous fortune.” — Hamlet, Act 3, Scene 1, William Shakespeare Words and phrases derive much of their meaning from the context in which they are expressed.
July Market Insights: The Fed & Its Use of Economic Coercion
The old saying “don’t fight the Fed” has been a golden rule in investing that has served investors well for many decades. Yet, today, confidence in the Fed’s performance has waned, with market pundits criticizing the central banks for waiting too long to fight inflation.
June Market Insights: The Fed, From Tragedy to Rebirth?
Just Follow the Path of the Credit Markets
“Always make the audience suffer as much as possible.” — Alfred Hitchcock
Alfred Hitchcock once suggested that drama is life with the dull parts cut out. Given the state of the financial markets, this has never been more relevant than it is today.
November Market Insights by James Thorne: Economic Squid Games
Squid Game is a dark drama set in Korea that depicts the lengths some individuals will go to in order to try and eliminate their extreme levels of debt. Today, we see many countries facing a similar dilemma: decades of strong nominal GDP growth once reduced debt-to-GDP ratios to sustainable levels, but slowing growth has led to a new awakening.