Despite OPEC still talking about producton cuts which had Oil in the fities in April, Oil breaks below $43 today setting up big problems for Canada’s economy and its deficits. The main driiving force behine the drop in Oil is how easily American frackers have been in ramping up their production and lowering their costs. Meanwhile the “rest of the world” has been very slow to embrace fracking, but when they do it seems inevitable that they are going to add to the low cost supply of oil. Amateur hour is over with UBER’s CEO resigning with their stock trading at a value of 68-70 Billion dollars. Mike describes UBER’s pioneering and dynamic new “Family Program”. Sears, another of the great traditional retailers is preoaring to file for bankruptcy potentially throwing 16 thousand out of work while Amazon continues to expand. 

….also from Michael: Financially Illiterate Graduates a Political Boon

The Fed moved interest rates higher today putting pressure on Canada to raise rates. With BOC Stephen Poloz saying low rates “have done their job”, and with Canadian growth outperforming the US recently it looks like higher rates are coming to Canada too. Will it be 1/4 of a percent, 1/2%….? Despite lower Oil it’s significant the Canadian dollar is rallying. The ancient Canadian retail giant Hudsons Bay has doubts its can survive with the move towards internet purchasing. That big trend is forcing the mall in your neighborhood to change, Michael describes what some of the successful are doing in the US.

….also from Michael: Hockey & Economics 101

 With the testimony of FBI Director James Comey tomorrow, Donald Trump’s tax and infrastructure program is on the hotseat putting the Trump rally at risk.  As this drama unfolds the markets are also on high alert for the results of the British Election which has ramifications throughout Europe.

Shifting British Election polls triggers Brexit dispute…. again, the fallout from Softwood Lumber tariffs, the new Green tax hungry pipeline hating BC Government, Trump’s tax adgenda with the inter-connectivity of all World Markets are creating uncertainty

….also from Mike: A Powerful Argument Against Climate Policy

Today the Stephen Poloz, Governor of the Bank of Canada said they are keeping rates the same for the 15th time in face of uncertainty.  Also his views of the economy, challenges from the US including the selloff of their strategic oil reserve and more….

…also from Mike: Is Cancelling Kinder Morgan the Best way to reduce emissions.