Author: Graeme MacKay

Wednesday July 26, 2017

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday July 26, 2017

Rising loonie: The Winners

Buoyed by strong sentiment about the state of the Canadian economy, and getting the benefit of general weakness in the U.S. greenback, the Canadian dollar is now flying in territory it hasn’t seen in two years.

A recent interest rate increase by the Bank of Canada, and the expectation of more to come, has the loonie up about 10 per cent over the past six weeks.  The Canadian dollar rose above 80 cents US on Monday before closing at 79.97 cents US.

“The obvious winner would be the average Canadian, just in terms of their travel plans or in terms of what they buy from the U.S.,” said Doug Porter, chief economist at Bank of Montreal.

The recent loftiness of the loonie makes it cheaper for Canadians to travel when they buy vacations priced in U.S. dollars.

For example, a one-week cruise out of Fort Lauderdale, Fla., priced at $878 US would have cost $1,203 Cdn when the loonie was trading at 73 cents US. With the loonie at 80 cents, that same cruise would cost $1,097 Cdn — meaning a consumer would save $106.

Similar to consumers, Canadian businesses that buy goods or services in U.S. dollars would wind up paying less for those items after factoring in the effects of our fluctuating currency.

For example, professional sports teams often pay player contracts in U.S. dollars.  A stronger loonie means the revenue earned in Canadian dollar goes further when it comes to paying players in greenbacks. (Source: CBC News) 

 

Wednesday July 19, 2017

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday July 19, 2017

Justin Trudeau offers strongest defence yet of Omar Khadr settlement

Justin Trudeau offered his strongest defence yet of his government’s $10.5-million settlement with Omar Khadr on Saturday, saying he hopes it serves as an example to future governments.

July 6, 2017

“When governments violate Canadians’ fundamental rights, there have to be consequences and we hope that the message going forward to all future governments is: you can not ignore or be complicit in the violation of Canadians fundamental rights, regardless of what they did,” said Trudeau.

The prime minister spoke at the Indian Village on the Calgary Stampede grounds, initially reiterating what he’s been saying for the past few days: he understands why people are frustrated but he thinks the government would have lost the case to Khadr if they had fought in court, and it would have cost between $30-40 million in the process. Trudeau then went on to offer the more strident human rights defence.

October 2, 2012

Trudeau spent the day in Calgary, attending two pancake breakfasts in the morning before visiting the Indian Village in the afternoon and rounding off the day at the rodeo.

He’s faced widespread criticism over the past few days over the Khadr payment. Khadr fought against coalition forces in Afghanistan as a 15 year old, before being sent to Guantanamo Bay where he was repeatedly tortured. (Source: Calgary Herald) 

 

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Tuesday July 17, 2017

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday July 17, 2017

Trump administration poised to reveal goals for NAFTA talks

United States Trade Representative Robert Lighthizer is expected to release today his negotiating objectives ahead of talks to revise the North American Free Trade Agreement next month.

April 20, 2017

The goals for the renegotiation, as well as the Trump administration’s rationale for how these objectives will lead to an agreement beneficial to the U.S., must be published on the USTR website, as required by Congress in accordance with the trade promotion authority granted to the White House for renegotiating a standing agreement like this.

Formal talks to revise NAFTA are expected to start next month. Such objectives must be published 30 days in advance.

The Canadian government is not required to publish its negotiating objectives ahead of the formal talks, expected to start on or shortly after Aug. 17. The location for these talks has not been finalized yet.

While Canada has been consulting formally and informally — an official consultation period expires Tuesday — politicians, officials and negotiators have been talking to affected industries for weeks to prepare Canada’s bargaining positions.

June 2, 2017

They’re expected to continue to do so throughout the process, although Parliament does not require the kind of transparency Congress does.

“The other NAFTA parties — Canada and Mexico … their position has been: the U.S. wanted to re-open this and modernize it. We’re just coming along,” International trade lawyer Dan Ujczo told CBC News last week. “So I think in some ways the U.S. is going to set the agenda.”

“If it comes out really short and sweet with a very narrow set of lists, that’s indicating that they want to get this done as quick as possible,” he said. But if it isn’t a deep dive, Ujczo expects Congress to demand more specifics. (Source: CBC News) 

 

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Saturday July 14, 2017

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Saturday July 14, 2017

Councillors support fining trespassers at Albion Falls

City councillors want to start fining people who venture beyond new barriers at Albion Falls.

“At present I think because we’re not proactively enforcing the bylaw, people are not taking it seriously,” he told the meeting.

The enforcement blitz is expected to begin after “No Trespassing” signs are put up on newly installed top-of-gorge fencing.

Some of the fencing has already gone up, and the remainder is expected to be installed by the end of this weekend, weather permitting, said parks manager Kara Bunn.

The chain-link fencing, which is expected to cost Ward 6 Coun. Tom Jackson about $75,000 from his area-rating cash, is one of the new safety measures being implemented since a Toronto photographer lost his footing and plunged to his death at Albion Falls last month.

The city is also installing new “pictorial” signs that use symbols to ensure all visitors understand the risks of walking to the brink of the 20-metre-high gorge as well as ones with maps that show the parking lots, viewing platforms and authorized Red Hill Valley and Bruce Trail side trails.

Thursday’s motion directs Bunn to report back to the committee at the end of the summer season, updating councillors on how many tickets were handed out.

Bunn said she supports enforcement after the “No Trespassing” signs have gone up but that she will have to speak to the city’s bylaw department about exactly what it will look like. (Source: Hamilton Spectator)