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Analysis How an expected U.S. interest rate increase will affect Canadians: Don Pittis

By Don Pittis, CBC News Posted: Dec 13, 2017 5:00 AM ETLast Updated: Dec 13, 2017 10:56 AM ET

Most expert commentary says Janet Yellen will say goodbye with a hike and a promise of more

In a few hours we’ll know for sure, but it seems like a foregone conclusion that Janet Yellen will use her last monetary policy news conference as chair of the U.S. Federal Reserve to raise interest rates.

And even though Bank of Canada governor Stephen Poloz decided to hold Canadian rates steady at one per cent last time around, there is no way Canadians can escape the impact of Yellen’s actions.

According to most expert commentary, the biggest surprise would be if the outgoing Fed chair failed to raise rates at all.

The most recent Canadian policy statement seemed to play down the prospects of an imminent increase that neither the government nor many overborrowed Canadians would like to see. But according to economist Louis-Philippe Rochon, rising U.S. rates will give Poloz permission to hike.…

Fed raises interest rates, keeps policy outlook unchanged for 2018

The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in U.S. economic growth.

The move, coming at the final policy meeting of 2017 and on the heels of a flurry of relatively bullish economic data, represented a victory for a central bank that has vowed to continue a gradual tightening of monetary policy.…

Is the Bitcoin Bubble the New ‘Subprime Mortgage’ Bomb?

By: Jack Rasmus Published 12 December 2017

Is Bitcoin the new ‘Subprime Mortgage Bond?’ Just as subprimes precipitated a crash in the derivative, Credit Default Swaps (CDS), at the giant insurance company, AIG, in September 2008, setting off the global financial crash that year—will the Bitcoin and crypto-currency bubble precipitate a collapse in the new derivative, Exchange Traded Funds (ETFs) in stock and bond markets in 2018-19, ushering in yet another general financial crisis?

The U..S and global economy are approached the latter stages in the credit cycle, during which financial asset bubbles begin to appear and the real economy appears to be at peak performance (the calm before the storm). This scenario was explained in my 2016 book, ‘Systemic Fragility in the Global Economy.’ And in my follow-on, just published August 2017 book, ‘Central Bankers at the End of Their Ropes’, I predict should the Federal Reserve raise short term U.S. interest rates another 1 percent in 2018, as it has announced, that will set off a credit crash leading to Bitcoin, stock, and bond asset price bubbles bursting. How likely is such a scenario?…

Ontario regulator ignored warnings on risky mortgage investments

In June 2014, regulators were investigating syndicated mortgages linked to Fortress Real Developments, a major force in Canada’s multibillion-dollar market for the risky investments. Compliance officers at the Financial Services Commission of Ontario (FSCO) had evidence that syndicated mortgages were being marketed and sold in ways that broke the law, putting the savings of thousands…