Be Thankful for Price-Gougers

The summer of 2013 marked the costliest disaster in the Canadian province of Alberta’s history.

During this time, severe flooding along many rivers in southern and central Alberta ravaged the region, directly resulting in four deaths, the displacement of over 100,000 people, and primary estimates of CAD $3 to $5-billion in damages.

In the midst of the crisis, media reports began to circulate describing incidents of price-gouging by “greedy merchants” accused of “trying to profit from the desperation of people seeking basic supplies.” One story cited the example of a Calgary liquor store reportedly selling bags of ice for $20 apiece.

Continue reading ‘Be Thankful for Price-Gougers’

Here Is Why You Should Own Gold Coins

Secrecy and Moral Hazard Abound at CMHC

Do they grow bubbles on plants>??>(Originally appearing at LvMIC.)

Itself a government-owned enterprise, Canada Mortgage and Housing Corporation (CMHC) is well-versed in the political pillars of secrecy and moral hazard.

This week, CMHC faced controversy over allegations that it is intentionally seeking to conceal information about foreclosure sales from would-be bargain hunters. Continue reading ‘Secrecy and Moral Hazard Abound at CMHC’

The Public Sector Impact on Ontario’s Debt Woes

ONTARIO 1984 license plate YOURS TO DISCOVER baseplate(Originally appearing at LvMIC.)

The motto of the province of Ontario is Ut Incepit Fidelis Sic Permanet which, translated from the original Latin, means: “Loyal she began, loyal she remains.” This is an homage to the province’s historical affiliation with the monarchy of Britain. However, in the year since the release of the Drummond Commission report, a more apt motto might be: “Indebted she began, indebted she remains.”

Consider a recent publication of the Fraser Institute, which contrasted Ontario’s finances with those of much-maligned California. It concluded that:
Continue reading ‘The Public Sector Impact on Ontario’s Debt Woes’

Justin Trudeau and Equality of Opportunity

Justin Trudeau speaks at the University of Waterloo

(Originally appearing at LvMIC.)

Justin Trudeau is the perceived front-runner for the leadership of the Liberal Party of Canada. On Saturday, he released a public statement outlining some of his proposed policy initiatives. In this statement, he asserts that his party “must be a party of principle.” More specifically, it must be a party of enforced “equality of opportunity.” Continue reading ‘Justin Trudeau and Equality of Opportunity’

Gold is Not in a Bubble

A good way to diagnose an asset class bubble is to listen to what the average man on the street has to say about it. Continue reading ‘Gold is Not in a Bubble’

Joseph Salerno on the Punitive Flat Tax

Recently, paediatric neurosurgeon Benjamin Carson raised the ire of President Barack Obama by criticizing the progressive income tax during his speech at the American National Prayer Breakfast. Meanwhile, Professor Joseph Salerno, writing at the Circle Bastiat, explains the punitive nature of proportional income taxation, i.e. the flat tax Continue reading ‘Joseph Salerno on the Punitive Flat Tax’

Banksters and Tar Babies

I have been plagued by a tar baby for quite some time. Continue reading ‘Banksters and Tar Babies’

What to Do About the Student Loan Bubble

Here is a chart detailing money supply growth in Canada.

M2 Canada

Continue reading ‘What to Do About the Student Loan Bubble’

Jim Flaherty on Canadian Tariffs

NY Quebec border crossing(Originally appearing at LvMIC.)

On Wednesday, Finance Minister Jim Flaherty, responding to a Senate Finance Committee report urging a “review of Canadian tariffs” to address the ongoing Canada-U.S. price gap, remarked:

We’ve been looking at our tariff situation carefully, particularly with respect to consumer goods in Canada to see what we could do. Tariffs are obviously sources of revenue as well and I have revenue concerns as Finance Minister but as a general rule, we would like to eliminate tariffs going forward.

Continue reading ‘Jim Flaherty on Canadian Tariffs’

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  • About Gregory Cummings

    Gregory Cummings writes about Canadian monetary and economic policy. His writing has been featured at the Ludwig von Mises Institute of Canada and the Ludwig von Mises Institute's Mises Daily publication. Read more.

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