As rare proof that not all ex-Goldman bankers are great vampire squids wrapped around the face of humanity, Bank of Canada Governor Mark Carney turns his gaze toward households as the holidays approach with some keen macro observations and their implications for micro decision-making. Though the central bank recently raised flags about Canadian household finances and talk of a real estate bubble has begun to resurface, this public address seems measured both in its observations and its conclusions, and reflects well on the current poster child of responsible 21st century monetary governance…

Currently the envy of Hank Paulson and virtually every Finance Minister around the globe, Jim Flaherty describes how the world’s leading middle-power managed to side-step most of the financial devastation that’s haunting global financial markets, and what the world can learn from its sure-footed path…

As Canadians flock to the polls later this month, quietly supplying 22% of America’s oil and 13% of its natural gas, its neighbours to the south have barely noticed. Cross-border oil flows are inevitable – given that America controls of a mere 2% of the world’s reserves and consumes almost 25% of supply – and securing its long-term petroleum assumes the full participation of Alberta’s carbon-rich tar sands and the off-shore bounty at Hibernia. Even Governor Palin’s Wildlife Reserve is virtually useless without passage by pipe across Canada’s Western provinces. Given the importance of “Securing America’s Energy Future” during a twin election year, it’s surprising that talk hasn’t returned to NAFTA, cleaner energy, or agricultural subsidies. Then again, maybe it isn’t…

With great power may come great responsibility, but middle power certainly has its role to play policing the economic and political bulge. In this address at the CFR, Canada’s Prime Minister waxes idealistically about the challenges of a national resource bounty that rivals any in the world, a mixed ethnic heritage that is the model for progressive integration, and a desire to project Canadian sovereignty and foreign policy into the 21st century…

“During 1967 we were proud to identify ourselves as Canadians. In celebrating our country’s 100th birthday, we became conscious of the contributions made by our forefathers. Their courage, determination and perseverance have inspired us to shoulder our responsibilities as we enter a second century of progress.
“As young Canadians you have much to offer to the further development of our fair land. Endowed with a sound education and technical skills you are in a favourable position to extend the frontiers of knowledge. Each of you will have a share in promoting our rapidly expanding economy and in improving our standard of living. But your greatest contribution will lie in adherence to your ideals. The young people of to-day are deeply aware …

Since their earliest days a rogue asset class — a breakaway tax haven from the archaic world of REITs — income trusts have drawn the ire of free-market economists and the capital of free-wheeling investors alike. The former see the structure as an anti-competitive perversion of natural capital flows, while the latter flock to invest in a sea of premium yields. Traditionally, policy makers have been hamstrung by this natural dichotomy, but with their latest Halloween trick, Flaherty and the Tories have taken a bold step toward a fair and open capital market. Baby boomers may cry foul over their lost pot of gold, and socialists may applaud their conservatives counterparts for a rare shot across the bow of a …

One of the last developed countries to modernize competition in the red hot mobile sector, Canadian regulators have finally bent to the will of their constituents and — as of March 14, 2007 — will force incumbent cellphone operators to allow customers to switch service providers without losing their existing number. While that might not seem like such a dramatic shift in domestic policy on its surface, the move has been years in the making, though surprisingly, the changes have come with surprisingly little industry fanfare.

A Nationalist Manifesto
There are too many elephants in the room. During our teens it was understandable, but this country is almost 140 years old. It’s time to stop ignoring the obvious. The 21st century might be filled with promise, but not if we don’t change course.

How to Prevent a Blackout
A Beginners’ Guide
On August 14, 2003, my lawnmower died. It was 4:10 pm and the perfect weather for gardening. Suspecting a simple neighbourhood brownout, I resigned myself to reading in the afternoon sun. Power failure wasn’t uncommon during the steamy, air-conditioned months of summer, but as I discovered hours later, this outage was anything but common. At its height, the blackout of 2003 plunged nearly fifty million people into darkness, and it would be days before power returned to the furthest reaches of the grid. Subways and office towers were evacuated, streetlights pulsed hypnotically as pedestrians guided traffic, hospitals and prisons switched to backup diesel generators, and beer and melting ice cream were shared …

In light of the grand sociopolitical developments over the last eight years, this speech by the former prime minister has found some new legs…