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Falling loonie tied to underperforming economy – Business – CBC News

Falling loonie tied to underperforming economy – Business – CBC News.

The Conference Board of Canada is calling the decline in the Canadian dollar the economic story of the year so far, predicting further declines as the Canadian economy underperforms.

The loonie began the day stronger on Thursday, rising to 91.48 US in early trading, up from its close of 91.37 US yesterday. It closed up 0.16 of a cent to 91.53 cents US.

The Canadian currency fell 6.6 per cent in 2013, after trading at par with the greenback in February, and is down more than three per cent since the beginning of the year.

‘Markets are betting that the Canadian economy will continue to underperform’– Glen Hodgson, Conference Board

The Conference Board, an economic and policy think tank, said the falling dollar is a sign of lack of confidence in Canadian growth prospects.

“Arguably more important than the value of the loonie is the signal it sends about the Canadian economy. Markets are betting that the Canadian economy will continue to underperform,” chief economist Glen Hodgson said in a report released today.

Loonie 20140109The Canadian dollar is trading at its lowest levels since 2009, after falling from par in February 2013. (Paul Chiasson/Canadian Press)

“This assessment is consistent with our own forecast, which calls for U.S. gross domestic product to grow by 3.1 per cent in 2014, much better than Canadian growth of 2.3 per cent,” he continued.

Hodgson is not the only economist predicting Canada’s GDP growth will underperform the U.S. Towers Watson’s annual survey of Canada’s top economists and analysts found most believe Canada will lag the U.S. in both economic activity and job creation over the next few years.

Too many plant closures

“With a lower Canadian dollar, there is hope that manufacturing businesses, and certainly the export sector of the economy, can contribute to reducing the unemployment rate in the next few years,” said Janet Rabovsky, Towers Watson director of investment consulting.

“That being said, recent announcements about industrial plant closures in Ontario would indicate that the cycle has not yet turned.”

Hodgson agreed that it is not clear if Canadian exporters will be able to fully capitalize on a weaker dollar because of the loss of capacity in the manufacturing sector since 2008.

There have been deep slashes in export-dependent industries — such as autos and parts — and a shift of much U.S. production to the southern states, so Canadian suppliers may not benefit as quickly as in the past from the U.S. recovery, he said.

He also points to the hit consumers may take from higher prices.

TD chief economist Craig Alexander said the U.S. Fed’s “decision to taper asset purchases has greased the skids under an already depreciating loonie.”

Traders rush back to U.S. dollar

The Fed decided in December to taper its U.S. bond-buying program to $75 billion US a month and as good economic news out of the U.S. continues to roll in, it is expected to continue tapering.

But that has encouraged traders to buy the U.S. dollar, leading to a rush away from the Canadian dollar.

“However, the fundamentals are not Canadian-dollar positive either, and the loonie likely has further to fall,” Alexander said in a research note.

BMO chief economist Doug Porter predicts a falling dollar will actually help boost Canadian GDP in the long-term – as much as 1.5 percentage points over the next two years if the loonie falls to 90 cents or lower.

“There are definitely losers, such as consumers, travellers, utilities, broadcasters, sports teams. But there are also lots of winners. The beleaguered manufacturing and domestic tourism sectors will find the biggest relief from the weaker currency. Even some retailers will be breathing a tad easier, as the loud siren call of cross-border shopping fades for consumers with each tick down in the currency,” he said.

Time for Obama to make up his mind on Keystone XL, Baird says – Politics – CBC News

Time for Obama to make up his mind on Keystone XL, Baird says – Politics – CBC News.

Foreign Affairs Minister John Baird used the first day of a Washington visit to repeatedly call for a prompt decision on the Keystone XL pipeline.
Foreign Affairs Minister John Baird used the first day of a Washington visit to repeatedly call for a prompt decision on the Keystone XL pipeline. (Fred Chartrand/The Canadian Press)

Nanos Number: pipeline politics

Nanos Number: pipeline politics 6:52

In an attempt to press the Obama administration on its own turf, Foreign Affairs Minister John Baird used the first day of a Washington visit to repeatedly call for a prompt decision on the Keystone XL pipeline.

He buttressed his case by making public appearances Wednesday with two pro-Keystone Democratic senators, who both expressed frustration with how long the administration has dragged out the decision.

Baird offered a snappy reply when asked if there’s anything pro-Keystone politicians on either side of the border could still say or do to influence a debate that has been going on for years.

“One politician — the president of the United States — can say yes to a great project to create jobs on both sides of the border, help with energy independence and energy security,” Baird replied, drawing a chuckle from the lawmaker next to him, Democratic Sen. Heidi Heitkamp of North Dakota.

“Decision time is upon us.”

He repeated the “decision time” phrase on three separate occasions at two public appearances Wednesday, making increasingly clear the Canadian government’s frustration over the prolonged approval process.

Baird held a half-dozen meetings on Capitol Hill and several other get-togethers throughout the day.

His two media appearances — both with pro-Keystone lawmakers from the president’s party — allowed them to air their own feelings.

It’s in our economic, national security & energy interests to approve #KeystoneXL & continue to build an#alloftheabove energy strategy

— Sen. Heidi Heitkamp (@SenatorHeitkamp) January 15, 2014

“I will tell you the frustration that many of us have,” said Heitkamp.

“It has taken us longer to make a decision than it took us to defeat Hitler in the Second World War.”

‘Weeks’ until environmental review

Prime Minister Stephen Harper said Canada would not take “no for an answer” until the Alberta-to-Texas pipeline is approved, last fall in New York. More recently, he suggested the U.S. president had “punted” a politically uncomfortable dilemma by adding additional steps to the regulatory process.

When asked how soon he expected a decision, Baird said the ongoing environmental review by the State Department could be completed and released “in the coming weeks,” soon after this month’s state of the union address.

After that, he said, a decision could be announced quickly.

He delivered a similar message during a meeting with Louisiana’s Mary Landrieu, touted as the likely next chair of the Senate energy committee.

#KXL is the right thing for our economy and strengthens our energy security. I’ll continue to push Admin to approve#Keystone pipeline

— Senator Landrieu (@SenLandrieu) January 15, 2014

With media invited into the meeting, she sympathetically placed a hand on Baird’s as she shared her regrets about how long the process had taken.

Landrieu, who faces a difficult re-election fight, said the project was popular in her state.

They used that public meeting to inform U.S. reporters that Canada has the same greenhouse-gas standards as the U.S., the same vehicle-emissions standards, and has done more to phase out coal.

Baird also met with U.S. Senator Bob Corker who posted a picture of his meeting with the foreign affairs minister after his approval of the controversial Keystone XL pipeline.

#KeystoneXL will create jobs, expand access to North American energy and strengthen ties with Canada, our largest trading partner. -BC

— Senator Bob Corker (@SenBobCorker) January 15, 2014

During his three-day trip, Baird also has meetings with Secretary of State John Kerry, National Security Advisor Susan Rice and several think-tanks.

He’s also scheduled to speak Thursday to business leaders.

Nigel Farage Booms “Europe Is Now Run By Big Banks, Big Business, And Big Bureaucrats” | Zero Hedge

Nigel Farage Booms “Europe Is Now Run By Big Banks, Big Business, And Big Bureaucrats” | Zero Hedge.

With Greek Prime Minister Antonis Samaras settling into his role as EU President, UKIP’s Nigel Farage stunned the “Goldman Sachs puppet” with a 150-second tirade of truthiness he has likely never experienced. Farage sacrastically remarks how Greeks “will be dancing in the streets” at Samaras’ ‘successful’ negotiation on MiFiD reminding him that “60% of youth are unemployed and the neo-nazi party are on the march.” Europe is now run by “big business, big banks, and big bureaucrats,” Farage goes on, suggesting the smarmy-looking Samaras should “rename his party from New Democracy to No Democracy.” People do not want a United State of Europe, the outspoken UKIP leader explains, they want a “Europe of sovereign states,” and concludes ominously, “the European elections will be a watershed.”

 

 

…And you come here Mr Samaras and you tell us that you represent the sovereign will of the Greek people? Well, I’m sorry, but you’re not in charge of Greece, and I suggest you rename and rebrand your party – it’s called ‘New Democracy’, I suggest you call it ‘No Democracy’.

 

Because Greece is now under foreign control. You can’t make any decisions, you’ve been bailed out, and you’ve surrendered democracy, the thing your country invented in the first place.

 

And you can’t admit that joining the euro was a mistake – of course Mr Papandreou did that didn’t he, he even said there should be a referendum in Greece and within 48 hours, the unholy trinity (troika) that now run this European Union had him removed and replaced by a ex-Goldman Sachs employee puppet.

 

We are run now by big business, big banks and in the shape of Mr Barroso, big bureaucrats…

Ouch!!

The Level Of Economic Freedom In The United States Is At An All-Time Low

The Level Of Economic Freedom In The United States Is At An All-Time Low.

Photo by U.S. Senator Mike LeeAmericans have never had less economic freedom than they do right now.  The 2014 Index of Economic Freedom has just been released, and it turns out that the level of economic freedom in the United States has now fallen for seven consecutive years.  But of course none of us need a report or a survey to tell us that.  All we have to do is open our eyes and look around.  At this point our entire society is completely dominated by control freaks and bureaucrats.  Our economy is literally being suffocated to death by millions of laws, rules and regulations and each year brings a fresh tsunami of red tape.  As you will see below, the U.S. government issued more than 80,000 pages of brand new rules and regulations last year on top of what we already had.  Even if we didn’t have all of the other monumental economic problems that we are currently facing, all of this bureaucracy alone would be enough to kill our economy.

Yes, every society needs a few basic rules.  We would have total chaos if we did not have any laws at all.  But in general, when there is more economic freedom there tends to be more economic prosperity.  In fact, the greatest period of economic growth in U.S. history was during a time when the federal government was much smaller, there was no Federal Reserve and there was no income tax.  Most Americans do not know this.

Those that founded this nation intended for it to be a place where freedom was maximized and government intrusion into our lives was minimized.

If they were still alive today, they would be absolutely horrified.  We are literally drowning in red tape.

The photo posted below was shared by U.S. Senator Mike Lee on his Facebook page.  Study it carefully…

Photo by U.S. Senator Mike Lee

The following is what he had to say about this photo

“Behold my display of the 2013 Federal Register. It contains over 80,000 pages of new rules, regulations, and notices all written and passed by unelected bureaucrats. The small stack of papers on top of the display are the laws passed by elected members of Congress and signed into law by the president.”

I didn’t even see the small stack of paper at the top of the cabinet until I read his explanation.  Most of the time everyone is so focused on what Congress is doing, but the truth is that the real oppression is happening behind the scenes as unelected federal bureaucrats pump out millions upon millions of useless regulations that are systematically killing our economic freedom.

On Tuesday, an article about the 2014 Index of Economic Freedom was published by the Wall Street Journal.  As I mentioned above, the United States has fallen for seven years in a row

World economic freedom has reached record levels, according to the 2014 Index of Economic Freedom, released Tuesday by the Heritage Foundation and The Wall Street Journal. But after seven straight years of decline, the U.S. has dropped out of the top 10 most economically free countries.

That same article mentioned some of the reasons why the United States is falling…

It’s not hard to see why the U.S. is losing ground. Even marginal tax rates exceeding 43% cannot finance runaway government spending, which has caused the national debt to skyrocket. The Obama administration continues to shackle entire sectors of the economy with regulation, including health care, finance and energy. The intervention impedes both personal freedom and national prosperity.

And of course the results are predictable.  Our economy has been steadily declining for many years, and that decline appears to be ready to start picking up speed once again.  The following is an excerpt from a recent article by Dave in Denver

In the latest retail sales report for December, auto sales were nailed – down 1.8%. The only reason overall retail sales from November to December showed a slight “gain” that November’s number was revised lower. Electronics fell off of a cliff. The housing market is about to get crushed. Feedback I’m getting from my Seeking Alpha articles and blog posts on housing from housing market professionals all around the country tells me that the housing market hit a wall at the end of 2013, as I have been forecasting.

What he said about the housing market is definitely true.  In recent months, mortgage originations have been falling like a rock.  Just check out this chart.

And as I wrote about the other day, there has been absolutely no employment recovery since the end of the last recession.  In fact,1,687,000 fewer Americans have jobs today compared to exactly six years ago even though the population has grown significantly since then.

Unfortunately, these are not just “cyclical problems”.  Long ago we abandoned the fundamental principles that once made our economy great, and now we are paying a tremendous price for that.

Posted below is a story that has been circulating all over the Internet for quite some time.  It is a fake story.  Once again, let me repeat that.  This is a fake story.  But I think that it does a great job of illustrating what is happening to America as we march toward full-fledged socialism…

An economics professor at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Obama’s socialism worked and that no one would be poor and no one would be rich, a great equalizer.

The professor then said, “OK, we will have an experiment in this class on Obama’s plan”.. All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A…. (substituting grades for dollars – something closer to home and more readily understood by all).

After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little.

The second test average was a D! No one was happy. When the 3rd test rolled around, the average was an F. As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.

To their great surprise, ALL FAILED and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed. Could not be any simpler than that.

But of course it would be disingenuous to pin all of the blame for this just on Obama.  The truth is that our nation has continued to march toward socialism no matter who has been in the White House and no matter who has been in control of Congress.  So if you want to place some of the blame on a “Bush” or a “Clinton” or a “Boehner” or a “Pelosi” please feel free.

And the American people are getting sick and tired of this one party system that has two heads.  According to a recent Gallup survey, only29 percent of all Americans consider themselves to be Democrats right now.  And the news was even worse for Republicans.  According to that survey, only 24 percent of all Americans consider themselves to be Republicans at this point.

A staggering 45 percent of all Americans now consider themselves to be Independents.  Deep down, most Americans know that something is seriously wrong with our nation and that they are being lied to be our politicians and the mainstream media.

Unfortunately, there is very little agreement about how to fix things because Americans do not have a set of shared values that we all agree on anymore.

Average Canadian house price up 10% to $389,119 – Business – CBC News

Average Canadian house price up 10% to $389,119 – Business – CBC News.

Owning a home in Canada has become more costly, with the average price in December rising 10 per cent to $389,119, compared to a year ago.Owning a home in Canada has become more costly, with the average price in December rising 10 per cent to $389,119, compared to a year ago.
Bankers disagree on housing bubble

Bankers disagree on housing bubble 2:59

The average price of a Canadian home increased 10.4 per cent to $389,119 in December, compared to the same month in 2012.

The Canadian Real Estate Association (CREA) released data Wednesday showing that a total of 457,893 homes changed hands in Canada last year, an increase of about 0.8 per cent from 2012’s level.

“Absent further mortgage rule changes,” CREA’s chief economist Gregory Klump said, “sales in 2014 may surpass the annual total for 2013 if demand holds steady near current levels as strengthening economic and better job growth offset the impact of further expected marginal mortgage interest rate increases.”

As has been the case for some time now, CREA says the large jump in prices was largely due to what was happening in Canada’s most active and expensive markets.

Broad gains

Sales activity in December 2012 in Toronto and Vancouver was abnormally low, which dropped the national average at that time.

“Removing Greater Vancouver and Greater Toronto from national average price calculations cuts the year-over-year increase to 4.6 per cent,” CREA said.

CREA says the average price can be misleading, as it can be too easily influenced by individual factors.

The realtor group says its MLS Home Price Index “provides a better gauge of price trends because it is not affected by changes in the mix of sales activity the way that average price is.”

That index shows home prices rose 4.31 per cent over the past 12 months. Gains were seen in all housing types.

The index was led by an 8.7 per cent gain in Calgary and a 6.3 per cent gain in Toronto.

Vancouver’s market index posted a second straight increase of 2.13 per cent after declines for much of the time between late 2012 and late 2013.

The Day After Chaos | project chesapeake

The Day After Chaos | project chesapeake.

By: Tom Chatham

So, you’ve got your food all stored away to last the next several years. You have your fuel barrel full and your generator and solar panels ready for the end of the power grid. You have enough weapons and ammo to deal with anything. You are mentally and physically prepared for the long hard days ahead.

You are prepared to fight the war that will eventually show up at your front door someday in some form and for an unknown length of time. You are prepared for the chaos, but are you prepared for the eventual peace?

At some point, the situation will stabilize in some form. It will become possible to walk down the street without being shot at. It will become possible to reopen businesses or to barter. It will become possible to breathe a sigh of relief.

When that day comes, how will you survive? You probably have your stash of silver or gold and some barter items but how long will that last? When the system goes down it will take most peoples jobs, their savings, their retirement accounts and pensions and much of the property they thought they owned.

Everyone will be forced to start over again. It could be years before the job market is functioning again. Until then, how do you plan to take care of yourself and your family? What is your plan to generate some income to live on and acquire the things you need?

Surviving the chaos will be a full time job but when it’s over, then what? Your gold and silver will take you a long ways but they only provide you with a temporary solution to your future needs. At some point you will need to start saving for the day when you are no longer able to do useful work.

Most people are busy preparing to just survive the coming chaos but some thought needs to be given to the day after it all ends. Even a few minutes spent now developing a basic plan will be critical to helping you transition to the new normal. A basic idea and the acquisition of a few basic tools or supplies to help you develop your new income stream will help you leverage your time and supplies to get by in the future.

Knowledge is the primary tool you need to navigate the future. Knowing how to make physical things or repair things will help you meet the future needs of society. Next to that, the storage of tools, machines, raw materials and information relevant to start a new business needed by the community will give you an edge.

In a prolonged period of chaos much of our infrastructure will likely be destroyed. In the aftermath, those with the skills and tools to rebuild will be a valuable asset to society. The ability to repair vehicles or machines, carpentry, masonry, plumbing, electrical, healthcare, farming and skills to build physical products will all be needed by a populace that wishes to regain some of the creature comforts they have lost in past years.

The more skills and materials you have when that day comes the sooner recovery can happen. Some may say it is a bit presumptive to plan for a day when things get better but if you feel things will never get better then why prepare to get through the worst of times at all? If you have the courage to plan for difficult times then you should also give yourself the ability to enjoy the day when things get better. Planning ahead for the distant future was never more important than it is right now.

World Bank Raises Growth Forecasts as Richest Nations Strengthen – Bloomberg

World Bank Raises Growth Forecasts as Richest Nations Strengthen – Bloomberg.

The World Bank raised its global growth forecasts as the easing of austerity policies in advanced economies supports their recovery, boosting prospects for developing markets’ exports.

The Washington-based lender sees the world economy expanding 3.2 percent this year, compared with a June projection of 3 percent and up from 2.4 percent in 2013. The forecast for the richest nations was raised to 2.2 percent from 2 percent. Part of the increase reflects improvement in the 18-country euro area, with the U.S. ahead of developed peers, growing twice as fast as Japan.

The report by the institution that’s trying to eradicate extreme poverty by 2030 indicates a near-doubling of the growth in world trade this year from 2012, as developed economies lift export-reliant emerging nations. At the same time, the withdrawal of monetary stimulus in the U.S. may raise market interest rates, hurting poorer countries as investors return to assets such as Treasuries, according to the bank.

“This strengthening of output among high-income countries marks a significant shift from recent years when developing countriesalone pulled the global economy forward,” the bank said yesterday in its Global Economic Prospects report published twice a year. Import demand from the richest nations “should help compensate for the inevitable tightening of global financial conditions that will arise as monetary policy in high-income economies is normalized.”

Photographer: Brent Lewin/Bloomberg

Produce is sold at a market in Kolkata. Growth in developing countries will accelerate… Read More

Fed Tapering

The bank’s forecasts hinge on the orderly unwinding of Federal Reserve stimulus, which is starting this month with the trimming of monthly bond purchases to $75 billion from $85 billion. If investors react abruptly in coming months, as they did in May when the central bank mentioned the possibility of tapering, capital inflows to developing economies could drop again, according to the report.

“To date, the gradual withdrawal of quantitative easing has gone smoothly,” Andrew Burns, the report’s lead author, said in a statement. “If interest rates rise too rapidly, capital flows to developing countries could fall by 50 percent or more for several months — potentially provoking a crisis in some of the more vulnerable economies.”

The bank sees a global expansion of 3.4 percent in 2015, compared with 3.3 percent predicted in June.

In the U.S., where growth is seen accelerating to 2.8 percent this year, unchanged from the outlook in June, the recent budget compromise in Congress will ease spending cuts previously in place and boost confidence from households and businesses, the bank said.

Japan’s Outlook

The bank held its forecast this year for Japan at 1.4 percent, while cautioning that the reforms of the economy promised by the government “have disappointed thus far, raising doubts about whether the improvement in economic performance can be sustained over the medium to longer term.”

It raised its prediction for the euro region to 1.1 percent for this year from 0.9 percent in June as the monetary union comes out of it debt crisis, propelled by Germany and showing improvement in fragile economies including Spain and Italy.

“The euro area is where the U.S. was a year and a half or two years ago, where growth is starting to go positive but it’s still hesitant,” Burns, also the bank’s manager of global macroeconomics, said in a phone interview. “We’re not going to be totally convinced until this gathers a little more steam.”

The bank estimates that investors withdrew $64 billion from developing-country mutual funds between June and August, with the impact most pronounced on middle-income countries includingBrazilIndia and Turkey. Not all economies were hit the same way, as China or Mexico were less affected because of stronger economic fundamentals, the bank said.

Developing World

The 2014 forecast for developing markets was cut to 5.3 percent from 5.6 percent.

The bank lowered its forecast for China this year to 7.7 percent from 8 percent, saying the world’s second-largest economy is shifting “to slower but more sustainable consumption-led growth.”

It cut projections for Brazil to 2.4 percent from 4 percent, for Mexico to 3.4 percent from 3.9 percent and for India to 6.2 percent from 6.5 percent.

Growth in developing countries will accelerate “modestly” between 2013 an 2016, at a pace about 2.2 percentage points below that of the years preceding the global crisis, according to the bank’s report.

“The slower growth is not cause for concern,” according to the report. “More than two-thirds of the slowdown reflects a decline in the cyclical component of growth and less than one-third is due to slower potential growth.”

Still, not all countries are well placed to respond to capital outflows and higher interest rates, according to the bank, which urged policy makers to prepare now for such an outcome.

To contact the reporter on this story: Sandrine Rastello in Washington atsrastello@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

Canada Job Grant ads cost $2.5M for non-existent program – Politics – CBC News

Canada Job Grant ads cost $2.5M for non-existent program – Politics – CBC News.

Jobs plan or ad campaign?

Jobs plan or ad campaign? 4:13

Canada Job Grant ad

Canada Job Grant ad 0:34

The federal government blanketed the internet with ads and bought pricey TV spots during playoff hockey as part a $2.5-million publicity blitz to promote a skills training program that doesn’t yet exist, CBC News has learned.

 

TV commercials for the Canada Job Grant often ran twice per game last May during the widely watched Hockey Night in Canada NHL playoff broadcasts on CBC. There were ads on radio, as well.

 

“The Canada Job Grant will result in one important thing – a new or better job,” said the reassuring voice-over in the TV ads.

 

The problem: The program was never launched and is still on hold. The job grants were announced in the 2013 federal budget, but it called for an agreement with the provinces, which have so far refused to buy in.

 

Employment and Social Development Canada spent between $2.5 million and $2.6 million on the ad campaign. That figure excludes radio ads funded by the Finance Department.

“Spending millions of dollars to advertise a program that doesn’t even exist is like flushing tax dollars down the toilet,” Liberal finance critic Scott Brison said.

 

$11-million publicity push

 

CBC News has also learned that that advertising cash came from an $11-million fund set aside last year for Employment and Social Development Canada to promote the government as a job creator.

Before the Canada Job Grant TV ad went to air, the government paidEnvironics Research Group almost $70,000 to conduct market research. Focus groups saw a near-final version of the commercial.

 

Environics concluded: “The main message was consistently seen as positive and one that inspired hope…. In light of seeing the new ad for the Canada Job Grant, most now believe the Government of Canada is on the right track regarding skills training and the job market in Canada.”

“Their own research suggests that people get a positive impression of the ads,” Queens University political science professor, Jonathan Rose said. “Whether that means they convey accurate information is another story.”

 

A government commissioned survey done post-campaign showed only two per cent of the 292 people polled who saw or heard the ad also caught the disclaimer that the program didn’t yet exist. It also found only 18 per cent of viewers understood tax dollars paid for the advertising.

 

Ads ruled misleading

 

After receiving numerous viewer complaints, Advertising Standards Canada, the advertising industry’s self-regulating body, ruled the TV commercial was misleading because the job grant program hadn’t been approved.

 

“The commercial omitted relevant information,” ASC concluded in a report. The report didn’t name the government because the ad campaign was already over.

Economic Action Plan adsThe federal government has spent millions on advertisements about its economic programs. (Government of Canada)

 

The proposed job grants would give workers $15,000 each for training, with the provinces kicking in one-third of the cost. But provinces have yet to sign on, complaining the proposed program claws back $300 million in federal funds now used to help disadvantaged workers.

 

“We do not believe, the way the program is designed, that it will work,” Ontario’s Kathleen Wynne said at a premiers meeting last July.

 

Quebec threatened to opt out. There’s no word yet on when an agreement might be reached.

Asked to comment on the ad campaign, a spokesperson for Employment and Social Development Canada said, “The government of Canada’s top priorities are creating jobs, economic growth and long-term prosperity.”

 

Harper blasted Liberals over ads

 

In his first question as opposition leader, in 2002, Stephen Harper took the then Liberal government to task over their advertising spending and the emerging sponsorship scandal.

 

“Will the prime minister stop the waste and abuse right now and order a freeze of all discretionary government advertising?” he asked in the House of Commons on May 21, 2002.

 

During its peak, the Liberal government spent $111 million on advertising, in 2002-2003. Harper’s current Conservatives doled out $136.3 million in 2009-2010, their biggest advertising budget yet on record.

If you have more information about this story or any other tips, please email investigations@cbc.ca.

 

U.K. to Pay Up To $3M a Well to Councils Allowing Shale Gas – Bloomberg

U.K. to Pay Up To $3M a Well to Councils Allowing Shale Gas – Bloomberg.

Prime Minister David Cameron will give millions of pounds to local authorities that allow shale gas developments to go ahead, part of a drive to create more jobs and encourage investment in the U.K.

Councils will be allowed to keep 100 percent of the business rates they collect from shale gas sites, double the current 50 percent figure, in a move that may be worth 1.7 million pounds ($2.8 million) per site in central government funding per year, according to figures released by Cameron’s office. Business rates are taxes to help pay for local services, charged on most non-domestic properties.

“That’s going to be quite a significant boost for that local council’s coffers,” Business MinisterMichael Fallon told the BBC. “We want local councils and local people to benefit from this exploration. We expect 20-40 wells to be drilled in exploration over the next couple of years.”

Research by business lobby group The Institute of Directors showed investment could reach 3.7 billion pounds a year and support 74,000 jobs in the oil, gas, construction, engineering and chemicals industries, Cameron’s office said. It also said the industry will make proposals today on how best to secure a role for British companies in the supply chain as shale gas production develops in the U.K.

“A key part of our long-term economic plan to secure Britain’s future is to back businesses with better infrastructure,” Cameron said in an e-mailed statement. “That’s why we’re going all out for shale. It will mean more jobs and opportunities for people and economic security for our country.”

Total SA (FP) today became the largest oil company to invest in U.K. shale gas through a $47 million deal to take stakes in two exploration areas in eastern England.

Europe’s third-biggest oil producer will acquire a 40 percent stake in licenses held by Dart Energy Ltd. (DTE) and operated by IGas Energy Plc (IGAS), the Paris-based company said in a statement.

To contact the reporter on this story: Kitty Donaldson in London atkdonaldson1@bloomberg.net

Activist Post: No-Brainer Course In Derailing The Trans-Pacific Partnership

Activist Post: No-Brainer Course In Derailing The Trans-Pacific Partnership.

Heather Callaghan
Activist Post

If you don’t know what it is yet – that means it’s working. The secrecy, that is. But once Pandora’s Box is opened, there’s no putting anything back. It will go down in history as one of the worst, oppressive plagues to saturate the planet.

Like Spider Man trying to stop a train from going over with nothing but his strength and shooting threads; we are going to need all the Web we can get to stop the fast-tracking Trans-Pacific Partnership from running over us. Perhaps more aptly, it is a tangled web we’ll be left trapped in as prey if we do nothing.

Here’s a crash-course and the easiest approach – all guesswork removed. But first, here’s a sampling of what you can kiss goodbye if this mammoth piece of legislation goes through…

What’s left of our jobs, food safety, Internet freedom, natural medicine, small farming, choice in medicine, financial regulation, privacy and more. Basically, all your rights. It permeates every area of your life, it’s been ramrodded through the Senate, and the media is not saying anything. It grants the likes of Monsanto, Wall Street and other huge entities full reign with immunity.

Kiss any last American sovereignty goodbye and say hello to your new global crypto-corpocracy complete with international tribunals and the end of domestic law – from your newly refurbished prison cell, of course. After all, you clicked on the wrong Internet link! And your ISP was watching and reported you. In the near future, this article could be enough to jail me, ban my whole family from the Internet, have computers seized and delete the website. No more videos that piece other clips together, or anything that hints at “infringement,” no more fair use, so no more non-corporate news.

It’s been shrouded in secrecy, especially from the People and Congress, planned behind closed doors for years, and proponents are searching for sponsors to have the President push it through now that Congress is back from recess.

The Trans-Pacific Partnership n. 1. A “free trade” agreement that would set rules on non-trade matters such as food safety, internet freedom, medicine costs, financial regulation, and the environment. 2. A binding international governance system that would require the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and any other country that signs on to conform their domestic policies to its rules. 3. A secret trade negotiation that has included over 600 official corporate “trade advisors” while hiding the text from Members of Congress, governors, state legislators, the press, civil society, and the public.

Here’s your crash course link on the TPP. You’ll be ready for take-off in no time. They’ve made it that simple:

Expose the TPP

After being mind-blown and catching your breath, you can do the absolute easiest thing there is to do by using Twitter with the hashtag #NOFastTrackTPP (but wait, there’s more).

Don’t use social media? No problem, scroll down. For social media users, here are the easiest things you can do, besides sharing memes and links on Facebook. Share things to Reddit andStumbleUpon. Everyone should call their reps (below).

See the Twitter storm event – still going. Pull any memes – share. Only use this hashtag for social media:  #NOFastTrackTPP. Using other hashtags and adding more will split the trends.

Next, Tweet your little heart out to your reps and others. Easily find them by clicking the “Discover” button and typing “congressman” in the search. All their Twitter names appear. Find celebrities, they often re-tweet. Example: @repfitzpatrick or @RepBera

Example Tweet:

@RepBera NO to Fast Track Authority and TPP, or we will not re-elect!! ‪#‎NoFastTrackTPP‬

Here’s another: “Do NOT sponsor FastTrack! Vote NO on TPP! ‪#‎NoFastTrackTPP‬”

Some reps have stood against the TPP, so first you might want to see this:

Spank or Thank?

– OR –

Use a general message for everyone: “I will NEVER support the Trans-Pacific Partnership#NOFastTrackTPP”

Want to jump into the Twitter storm? Easy. Sign up at Twitter, it runs you through a few-second tour and you can figure out the rest, see Help, or ask friends. Use the hashtag #NOFastTrackTPP on Facebook statuses.

Non-Social Media Users:

Find all your representatives’ info/forms in one-click. Just click on your state:
Contacting the Congress

Or use this:
Call President Obama: 202-456-6213
Call your Representative: 202-225-3121
or Toll Free (877) 762-8762

E A S Y  S C R I P T:

(Breathe and talk slowly. You will do just fine. Be polite and confident.)

“Hi, this is (your full name). I am a constituent of Rep/Senator (name). I live in (name of city). I am calling to request that Rep/Sen (name) vote NO on Fast Track Authority. It is important to me that Congress follows the Constitutional directive to negotiate international trade and that all trade agreements are given full consideration, debate and amendments as needed.

Do you know Rep/Sen (name) position on Fast Track Authority? Will he/she vote Yes or No? (wait for an answer)

Do you know Rep/Sen (name) position on the Trans Pacific Partnership Agreement? Will he/she vote Yes or No? (wait for an answer)

(regardless of their response, just continue)

Once again, I am requesting that Rep/Sen (name) vote NO on Fast Track Authority and NO on the TPP! Please be sure he/she gets my message. Thank you.”

Go to the Crash-Course site and print off PDFs to share. Actually, that whole website is designed to help you take action, online and off. You can still share the hashtag in any way you choose – it gets the point across fast.

URGENT:

If you can target these two reps, you could stop the fast-track today:

1) MIKE QUIGLY (IL-05)
D.C. 202-225-4061
District: (773) 267-5926
Twitter: @RepMikeQuigley
https://www.facebook.com/repmikequigley

2) GREG MEEKS (NY-05)
D.C. (202) 225-3461
District: 347-230-4032 & 718-725-6000
Twitter: Gregory Meeks
https://www.facebook.com/gregorymeeksny05

Lastly, if you have done something, no matter how small to derail the TPP fast track – THANK YOU!!

Special thanks also to Andrew Pontbriand, Emily Laincz and Nick Bernabe for their tireless organizing, efforts and information  – and to all those who joined them. Without them, this article wouldn’t be – nor will it with the TPP!

The smallest action is bigger than the greatest intention.

 

Heather Callaghan is a natural health blogger and food freedom activist. You can see her work at NaturalBlaze.com and ActivistPost.com. Like at Facebook.

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