Low rates for years more says BOC boss (Toronto)

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Canadians can expect to be able to borrow money at fairly low rates for some time to come. That will be true even after the economy returns to full capacity and the Bank of Canada starts increasing interest rates, bank governor Stephen Poloz says. But the BOC chief doesn’t think sending that message means people will go on spending sprees.

Lucky Canada to have this wonderful Senate

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The Supreme Court of Canada has decided that the Canadian Senate is about as protected as any political body in the country. Aren’t we lucky. The Conservative government had asked the court to permit abolition of the Senate on the authority of the House of Commons. But the court came down Friday (April 25, 2014) with a unanimous finding the Senate can’t be reformed without the consent of at least seven provinces containing 50% of the country’s population. More than that, the Senate cannot be abolished without the consent of all ten provinces. What’s left for the government to remove this expensive, useless home for political hacks? A referendum might be a good idea. The political impact would be helpful to learn how people feel.  Lori Turnbull has a serious point of view   No other federation is quite so hamstrung 

Oh Andrea, what have you done? #ONpoli

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Andrea Horwath has finally run out of gas with her “I’ll have it both ways” act at Queen’s Park. The likeable Ms Horwath, leader of the NDP, has also been the least believable person at the lectern for many months. She hates the way the Liberals are governing, but by George there will be no election to replace them. No, no. Better to somehow or other try to defy gravity. Today a freshly released Ipsos Reid poll commissioned by the Bell Media assets reveals that substantial support has fled from the NDP leader to the Conservatives, and in small measure to the Liberals. If an election were held today, says Ipsos Reid,  the PCs would win a majority. Frankly, that seems a chancy declaration but it can happen.  In 2011, the Liberals won 37.7 per cent of the ballots but obtained only a minority. So the votes on the move are independent, somewhat to the left perhaps, who previously didn’t like either of the larger parties.The latest poll of Ontario voters suggests if there’s an election this spring it will be a very tight race. Previously, a anos Research showed Liberals and PCs tied at 36. the has released a survey showing the Liberals and the Progressive Conservatives tied at 36%. The NDP was at 22%. In March, the Liberals held a three-point lead. Nanos suggested a polarization of voters might be taking place but the Ipsos poll may suggest a trend. 

Murals to brighten Toronto subway upgrade work

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City of Toronto and TTC have commissioned collaborative community murals that will be displayed on the construction hoardings of subway stations at Coxwell and Woodbine stations (top and centre right) over the next two years  The stations are being upgraded to make them more accessible. As Janet Davis (Ward 31) said at a recent gathering:  “This initiative transforms a construction site into a vibrant expression of our community,” said Councillor Davis. The murals were created through the Toronto youth mentorship program City on the Move – Young Artists in Transit – East, a project of the City of Toronto, the TTC and community partners Arts for Children and Youth and Children’s Peace Theatre. At the unveiling event, mentor artists Jim Bravo and Andrenne Finnikin were present with many of the 15 youth artists (bottom inset) who collaborated to create the large murals from March to December last year after extensive community consultation. The murals, which reflect features of the local community, also include artistic contributions from Toronto’s Poet Laureate, George Elliott Clarke.

Grand and Toy shuts all stores but stays online

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Stationery store Grand and Toy is shutting down of its remaining 19 retail stores.  The company’s website seems to show a few more than that number but the site it may be up to date. Toronto locations are all in high-rent downtown spots. There is a location in the Sheppard Centre and another at Yonge and Bloor. Grand and Toy is a rather astounding 132-year-old company which has clearly gotten caught in the cyber-crunch. Grand and Toy is now an affiliate of global office products provider Office Depot Inc. It will continue to do business online and through its customer service centres.

Not another slush-fund pension plan for Ontario

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It is as if the Ontario and Federal governments are trying to out-do each other in talking about generous pensions.  It’s an election fever topic suitable to broad boundaries, much like “transit” is the only thing on the minds of civic candidates. Phillip Cross in the Financial Post says stop it already with the talk of more pension plans. Canadian seniors have never been more affluent. For those who need help, the Feds can target families or singles as required. What the province does not need, says Cross, is another Ontario pension plan (“the big CPP”) with another payroll-tax slush fund and more million-dollar men at the top. We have to pay millions you know “to get the best people.” Anyway, Cross questions the assumptions behind the drive for “big CPP” by saying there simply is no crisis  in Canada’s current retirement system. People are living longer, healthier and wealthier lives in retirement, largely the result of their own actions. The few pockets of poverty among seniors, such as single or widowed elderly women who have never worked, are best addressed by better targeting government benefits, he contends, not by a wholesale expansion of the CPP. Financial Post (may require subscription)  Incidentally, it is worth noting that enormous debt like that sadly stacked up in Ontario tends to cast all governance in a poor light. Do we think that political parties have served us well?  Not likely. 

SCOC okays ID of sex offenders by Toronto codes

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In a 7-0 decision today (Thursday, April 24, 2014) the Supreme Court of Canada has found that Ontarians may know the number of convicted sex offenders living in their neighborhoods by the first three characters of the postal code. These characters identify what is known to Canada Post as the Forward Sortation Area (FSA). In Leaside, for example, the FSA is M4G.  The Supreme Court upheld a lower court’s ruling that gave citizens the right to know how many sex offenders live within this general geographic area in Ontario. The court said releasing this information doesn’t violate the province’s privacy laws. The ruling doesn’t give citizens the right to know names, addresses, or other personal information of sex offenders. The Ontario Government had opposed release of the information as approved today by the high court.  

Where are those darn invisible bitcoins anyway?

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The discovery of 200,000 bitcoins by the now bankrupt bitcoin exchange Mt. Gox really does put the entire virtual money phenomenon into perspective. The bitcoins, which have no physical presence whatsoever,  were located in “wallets” (can’t see them either) that had somehow been overlooked in the inventory of what Mt. Gox possessed. Did we hear some cynic say bitcoins don’t exist period? Are you waiting for the day when the police seize millions of bitcoins obtained as the result of mischief and trumpet their crime-busting by showing the media empty suitcases?