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Getting Ready for GFC 2.0
One consequence of the unprecedented tightening of monetary policy imposed by central banks in most countries (including Canada) over the past year has been growing fragility in the broader financial system. Banks, near-banks, and other financial players – many of them highly leveraged after 15 years of near-zero interest rates – are now grappling with the impacts of higher interest rates on their investments and balance sheets.
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The Grocery CEOs Visit Parliament
The House of Commons Agriculture and Agri-Food Committee recently invited the CEOs of Canada’s three largest supermarket chains (Loblaws, Sobeys, and Metro – who together control around two-thirds of all food retailing in Canada) to testify as part of their inquiry into food inflation.
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We Need More Goods, not Less Money
In this commentary article, originally published in the Toronto Star, Jim Stanford challenges the adage that inflation results from ‘too much money’ in the economy. In fact, the current inflation – sparked by the repercussions from lockdowns and other supply disruptions during the pandemic – clearly indicates the problem is too few goods. That requires a very different approach to managing rising prices.