Category:

Economics

“Our minds can be hijacked” Part 3: to regulate or not to regulate?

This article follows Parts 1 and 2 of a four part commentary on The Guardian’s article “Our minds can be hijacked”.

The widespread negative social ramifications of smart phones and social media gives way to the question: to regulate or not to regulate? Should we trust people with weaponized legislation to be moral arbiters?

The inven… Read more

Max Keiser goes insane at Nexus Conference! Why his strongest argument for BitCoin is weak

BitCoin cheerleader Max Keiser recently “debated” gold bug Peter Schiff at the Nexus Conference.  It wasn’t a debate.  It was a comedy show.

Just to clarify right away, I am not making a case for gold over cryptocurrencies. My position is that both are overinflated by the debt bubble (see There’s no use arguing BitCoin vs. gold)… Read more

Ontario’s $15 minimum wage is going to kill more than just jobs

Canadian policy is currently being dictated by emotion (or more accurately, postmodernism) and the lack of objective analysis in some of the new bills and laws being passed will have dire consequences in the future.

In Ontario, the decision by the Wynne Liberal government to raise minimum wage to $14 by 2018 (about a 30% increase) and $15 by 2019 was made desp… Read more

Complexity doesn’t sell — “you don’t understand cryptocurrencies” is not an argument

Saying “you just don’t get it” is a persuasion tactic normally held by stakeholders trying to make the sale. It implies that skeptics are too dumb to understand. It persuades people to side with the cool kids so that they can hurl the same arrogant insult to other naysayers. BitCoin and cryptocurrency holders are supposedly brilliant fo… Read more

Central banks, big media and big corp show off their market manipulation skills: BitCoin drops 30% off its highs in past 30 days

In my two previous articles There’s no use arguing BitCoin versus gold and When non-tech savvy people talk about BitCoin, is it a sign of a bubble at its peak? I asserted that BitCoin behaves like a commodity, like gold, and public psychology ultimately determines its value. If the public perceives it as worthless, its value will drop to zero.

A main t… Read more

Paul Krugman and Keynesian theory got one thing right about hurricane Irma, but it’s not what you think

To paraphrase a Louis CK comedy bit, let’s assume you were a billionaire. You decide to buy all the pants in the world, and then just burn them. Does this have a positive impact on the economy?

Let’s assume you spent $1 billion to buy all the pants. This represents $1 billion of savings, or stated differently, $1 billion in goods and services produc… Read more

There’s no use arguing BitCoin versus gold

BitCoin and cryptocurrency forums have been reacting emotionally to arguments illustrating the flawed technical fundamentals of cryptocurrencies.

Just google bitcoin+ponzi, bitcoin+intrinsic value, bitcoin+myspace, etc. All arguments have been made. Honeybadger doesn’t care. It moves onwards & upwards.

Anyone who’s longer

Read more

When non-tech savvy people talk about BitCoin, is it a sign of a bubble at its peak?

I believe nearly all asset classes are in over-leveraged, debt-fueled bubbles.  I believe BitCoin and cryptocurrencies are no exception.

When my folks talk about moving money to BitCoin without much understanding of the technology and its goals such as decentralization and scarcity, I think a market peak has been reached.

The whole “keeping up … Read more

CBC: Canada added 54,000 jobs last month. Reality: Canada lost nearly 100,000 productive jobs and replaced it with useless jobs

CBC recently published an intentionally vague article over the latest StatsCan report to paint a rosy economic picture for Canada and its government.

What the article ignores is the quality of the jobs over the quantity of the jobs created, instead touting the jobs and employment numbers designed to obfuscate the real facts.

Here are some tidbits from the a… Read more

Canada’s Carbon Tax: Pay up or freeze to death

I am expecting fireplaces to gain in popularity as already financially pinched households attempt to keep warm in what has been a cold start to Winter for much of Canada.  Ironically, fires release carbon dioxide too. How will the government collect its tax for that?

Meanwhile, Australia, with a more temperate climate than Canada, has already ditched it… Read more