Canadian merchandise imports and exports both increased in July as a result of broad-based growth in volumes. The spike in imports were largely attributed to fuel and aircraft. Imports were up 8.3% to $31.7 billion while exports grew 3.3% to $30.3 billion. As a result, Canada registered a trade deficit of $1.4 billion in July compared with a trade surplus of $37 million in June.…

Here is a paper from the IMF that reviews key channels by which tax distortions can significantly affect financial markets, drawing implications for tax design once the crisis has passed. Tax rules vary widely across countries. The idea is tax distortions are likely to have encouraged excessive leveraging and other financial market problems evident in…

http://www.imf.org/external/pubs/ft/weo/2009/01/index.htm Including nice graphs.

http://curiouscapitalist.blogs.time.com/2009/02/09/comparing-this-recession-to-the-last-five/ and http://www.williampolley.com/blog/assets_c/2009/02/employ_recession1.html

Originlaly posted in our forums and moved to the blog. Many of the problems of the existing multi-currency international financial system will be remedied with the implementation of a Single Global Currency, managed by a Global Central Bank within a Global Monetary Union. The benefits of a Single Global Currency will be substantial: – Annual…

Thieves in the US are stealing precious metals from empty homes and selling the metals to scrap yards to suffice global demands largely fueled by hungry China. Yes, Americans are fueling Chinese appetite for copper. Home foreclosures coincides with record highs in the price of copper and other metals which means homes coast-to-coast are being…

Turns out somebody in the US wants to talk climate change. US delegates to a UN climate conference suggested they will not be a roadblock to a new international agreement aimed at reducing potentially catastrophic greenhouse gases, but refuse to endorse mandatory emissions cuts. Many governmental delegations at the meeting in Bali see mandatory cuts…

When you make crappy cars and you primarily rely on a weak Canadian dollar to compete with your world rivals you’re bound to hit some snags along the way. Case in point GM, they just can’t make ends meet so what happened? General Motors of Canada will cut 1,200 jobs at an Ontario truck plant…

An interesting blog post on why China will become the second biggest trading partner with US displacing Canada and why the US can impose tariffs to slow what appears to be a financial bubble bulge. Mankiw 1028 economists