Standing Tall

Once again, Canadian Prime Minister Stephen Harper makes it clear why he is a man to respect, and even more unusual, that he is a politician who tries to avoid prevarication. At the current G8 summit in Deauville, France Mr. Harper stands tall as the only leader refusing to embrace the US President’s position relative to restarting the perennially fruitless peace negotiations involving the Israelis and Palestinians. US President Barack Obama has come out asserting that the 1967 pre-existing borders of Israel ought to be the starting point for negotiating a peace deal between Israel and the proposed Palestinian state, … Continue reading Standing Tall

Inflation, Prices and Money

Many economists continue to demonstrate their confusion about the subject of inflation. While ordinary people clearly feel the effects of monetary inflation in the form of higher prices for most goods and services, elite pundits labour under a misapprehension of the law of cause and effect. Most recently, economists are surprised by the fact that Canada’s rate of inflation for March 2011 was higher than expected. Of course, they are referring to the effects of monetary inflation: higher prices. Once again, they confuse and obscure cause and effect relationships. The Bank of Canada has now raised its inflation rate forecasts, … Continue reading Inflation, Prices and Money