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Mark Carney’s radical idea for fixing the world economy

By David Crane      

Interest rates are nearly zero in real terms, and the former Bank of Canada governor has proposed a digital solution that could help us weather the next recession.

Bank of England Governor Mark Carney, pictured with Don Newman in 2013 during his time as the governor of the Bank of Canada. Mr. Carney proposed introducing a global digital currency for international transactions during a meeting of central bankers in Jackson Hole, Wyoming last week. The Hill Times file photograph

TORONTO—At the G-7 leaders’ summit in Biarritz, France, the principle goal was to give U.S. President Donald Trump no excuse for another of his childlike temper tantrums or ugly tweets. French President Emmanuel Macron, the host, didn’t even try to produce a communique and, at a time when the world faced major risks to the economy and the environment, there was little time spent preparing to deal with them. It’s hard to know why they even bothered to meet.

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Feds to miss 2021 target to lift remaining boil-water advisories, pledge to redouble commitment

News|By Beatrice Paez
The $1.5-billion funding boost is being framed as an assurance the government is committed, over the long term, to lifting those remaining advisories and preventing new ones from coming into effect. 

Centre Block renovation budget tops $655-million as post-holiday stonework nears

News
PSPC has settled on leaving intact the bullet holes left behind after a fatal shootout involving RCMP officers, security, and Michael Zehaf-Bibeau, who claimed allegiance to the so-called Islamic State.

NDP, Bloc push for Boeing 737 Max crash inquiry as Liberals, Conservatives block effort

‘In order to have closure, you need to have truth come out,’ says Chris Moore, who believes an inquiry is the best way to get answers about his daughter’s ‘needless’ death in the 2019 crash.

BOIE approves nearly $12-million in new annual House spending

Plus, the House administration recently published its first-ever disclosure reports, detailing a combined total of more than $9.6-million in expenses.

‘Very important’ embassy inauguration bash, which attracts influential Washington power brokers, up in the air

News|By Neil Moss
A PMO spokesperson wouldn't say if any cabinet members will be headed to Washington next January for Joe Biden's inauguration.

Vague on details, feds’ fiscal update dangles possibility of spring election, say experts

News|By Beatrice Paez
The withholding of specifics in the economic statement is part of a longer-term fiscal and electoral strategy to assure different groups the government has their back, says McGill University professor Daniel Béland.

Race to replace MP Kent as Thornhill’s Conservative on the ballot a chance to ‘bring Conservatives back into the fold,’ sign of ‘generational shift,’ say early candidates

News|By Mike Lapointe
Two names have emerged stating their intentions of running for the party’s nomination in the riding so far, including long-time Conservative staffer Melissa Lantsman as well as Progressive Conservative MPP Gila Martow.

Feds propose pumping $100-billion into economy to stimulate recovery, as deficit on track to soar to $381-billion

News|By Beatrice Paez
In the absence of a fiscal anchor, Ottawa said it intends to use 'several indicators' related to the labour market such as the employment rate, hours worked, and level of unemployment.

‘That’s a tough one’: potential prolonged delay in COVID-19 vaccines for Canadians would be politically ‘explosive’ for Trudeau Liberals, say politicos

News|By Abbas Rana
If Canadians are behind other countries in getting inoculated against COVID-19, the Liberals would not want a spring election, as speculated, since it would mean losing the government, say politicos.
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