This issue began with Fox News alleged terrorism expert, Steven Emerson...
This issue began with Fox News alleged terrorism expert, Steven Emerson claiming that there were “no go areas” in England for non-Muslims. In an extraordinary turn of events, British Prime Minister David Cameron was asked to comment on Emerson’s claim, and replied that he had almost “choked on his porridge” when he first heard that claim, and that the alleged terrorism expert was “a complete idiot.” It was an extraordinary but necessary response from the PM, and both Fox News and Emerson apologized to Cameron. But the French were not done with Fox News.. at an extremely sensitive moment for the French, the Canal Plus satirical news show Le Petit Journal, described as something of a French version of John Stewart’s The Daily Show, decided to use classic French satire to further skewer Fox News. The brilliant stroke of genius, included fake news reports from Fox correspondents in Paris reporting from the alleged “no go areas.”
The growing downturn in the fossil fuels industry has extraordinary implications globally. While some are proposing theories that this downturn will be short-lived, there simply isn’t much evidence to support an optimistic forecast. Saudi Arabia is openly executing a long term strategy to squeeze “high cost oil producers,” using its unquestioned leverage and the lowest production costs in the World. Europe is facing potential deflation, and the current European recession is forcing the European Central Bank to begin “quantitative easing,” beginning this week, essentially printing money. The Russian economy is in shambles as the ruble weakens, something Putin did not plan on occurring. The Chinese economy has weakened sharply and will likely remain weak into the near foreseeable future. Meanwhile Canada is at the mercy of these global forces, with little in the way of economic reserves to defend its economy, having bet the entire Canadian economy on oil.
Report Lacks The Rigor Necessary To Give It Much Credibility. The AO report’s “economic impact” conclusions are based on 2014 Survey Monkey voluntary responses, which are problematic due to an apparent lack of critical assessment. The report does not follow the kind of rigorous industry analysis performed by leading technology consultancy firms like International Data Corporation (IDC) or Gartner.
While there have been hints of advanced battery technology development reported in various journals, there was nothing even hinted at the Consumer Electronics Show in Las Vegas this week. This would suggest that we are still a very long way off from any commercial solution to our dead and dying batteries. Ironically my wife last night announced that the battery in her iPhone 5S was not holding a charge like it formerly did. Anyone with this problem also knows that mobile phone stores do not generally even carry replacement batteries. These retailers prefer to use the situation to try to sell you a new phone.
Je suis fier d’etre Francais aujourd’ hui. 3.7 Million people turned out in Paris today, officially. Yesterday, large numbers of people also marched in Nice, Toulouse, Lyon and Nantes.
UPDATE: January 15, 2015. Target announced today that it will be closing all 133 stores in Canada, including the Vernon and Kelowna stores. eliminating at least a couple of hundred local $10/hr jobs and a handful of slightly better paid management jobs. The Wall Street Journal is reporting that Target’s 17,000 + Canadian layoffs of […]
Alberta Oil Economy Crash Reverberates in B.C. 2015 Seasonal Okanagan Economy Likely To Suffer BC Business low ranking of Kelowna jobs market only adds to the problem Future Shop, The Sequel UPDATE: January 15, 2015. Target announced today that it will be closing all 133 stores in Canada, including the Vernon and Kelowna stores. eliminating […]
CBC’s The National has tonight broadcast a public debate titled “The Politics of Oil” on the current oil economy crisis in Canada. A key issue exposed tonight was the contrast between Canada’s national policies on oil wealth and Norway’s. In the 1990’s both Canada and Norway debated how to manage oil wealth and created funds to invest for future economic development. Today, Norway’s national saving fund is worth $1.03 Trillion while Canada’s, actually Alberta’s fund, is worth only $17 Billion, and has barely increased since the late 1990’s.
Ironically, in the now numerous accounts of how the current oil market came to collapse over the last few years and months, there are almost no references to Canada despite the importance of the oil economy to the nation. We have been mere bystanders in all of the complex series of events, and yet the […]