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The big quiet bail out – Euro/Japan central banks propping up stock markets, is the US next?

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You’d think that the golden age of markets, if there was one, would be something like the post WWII economic expansion era. That was pretty impressive, driven by baby boomers and the gigantic wave of consumption that enveloped them. Never before in history had parents worried so much about the outfits that New Baby would wear, and it only got crazier from there.

Fundamentally though, the late 1700s were far more earth-shaking. Not in the consumerist sense; those austere horse-travelers managed to survive somehow without the likes of either Apple or Lululemon, for example, but consider the free-market achievements of that period. The United States came into existence, a profound new experiment in governance and free(ish) markets. In academic circles, famed economist/philosopher Adam Smith coined the term “the invisible hand of the market” in his book The Wealth of Nations. It was a reference to the ability of a market economy to provide benefits far beyond those that accrue to the creator. That is, an inventor of something that becomes wildly successful enriches not only the inventor, but society as a whole. Plus, it is an indirect reference to the ability of markets to efficiently allocate capital.

We tend to forget that wonder of capital markets, particularly as the world drifts into one defined more and more by government intervention. Since the 2008 financial meltdown, governments have gone kind of berserk in attempting to keep the financial world afloat, causing markets to gyrate in increasing spirals through wild-eyed policy guidance as the dollars at stake become stupefyingly large. We no longer have economist/philosophers at the helm; we have economist/desperados who have convinced the world their alchemic ways will work, and they don’t know that it will, but they’re really really hoping.

The new breed of economist has introduced an all new Invisible Market Hand – not one that provides infinite benevolence, but one that is like a forklift driver feeling confident in his/her ability to pilot a fighter jet because the seats are similar.

The strategy of which I speak began in Japan over the past decade. After years of trying to kick start the Japanese economy in various ways, including dropping interest rates to zero, the central bank began buying up treasuries as a means of supporting debt markets. When that didn’t get things going, they took the next step and actually began buying up equities to prop up stock markets. Since then, Europe has started a similar program. And yes, you heard that right – in those jurisdictions, if stock prices fall too much, the market is prevented from self-correcting, and governments are, in effect, breaking the fingers of the original Invisible Hand.

They appear to be stepping in to keep critical sectors of the economy in good shape, and also to enhance the “wealth effect”. The wealth effect refers to how citizens tend to spend more drunkenly when they feel wealthy, and for many that means a healthy portfolio. If someone sees their retirement nest egg shrink from $100,000 to $50,000 in a severe market downturn, those people tend to lockdown spending – a wise reaction. But as we’re seeing, the world keeps turning because we are consumers, and like it or not, consumption makes our world go round. So by making those portfolios stay healthy one way or another, governments seek to put the population in a semi-drunken spending stupor in order to keep the party going. Anyone who’s witnesses a true boom economy will recognize the phenomenon – at the peak of the oil boom 6 or 8 years ago, there were direct flights from Fort McMurray to Las Vegas, and thousands of twenty-somethings were purchasing vacation properties. Suffice it to say that those days are gone.

Don’t expect the new Invisible Market Hand to bail you out if your brother-in-law convinces you to load up some hot stock tip he got from a friend who got it from a friend who got it from a friend, because the “friend” at the end of that chain will be some dubious stock promoter that may or may not end up in jail, and even panicked governments won’t save those souls.

With the new strategies for propping up markets however, we’re starting to see the lengths governments will go to in order to maintain financial stability. You’d think the mountains of debt will lead to a day of reckoning, but, emboldened by the global government response to the 2008 financial crisis, the high priests of finance are becoming more emboldened. That our fate depends so heavily on a squadron of tweedy economists is truly frightening, but we’re all in the same boat, so enjoy the ride…

 

For more stories, visit Todayville Calgary.

Terry Etam is a twenty-five-year veteran of Canada’s energy business. He has worked at a number of occupations spanning the finance, accounting, communications, and trading aspects of energy, and has written for several years on his own website Public Energy Number One and the widely-read industry site the BOE Report. In 2019, his first book, The End of Fossil Fuel Insanity, was published. Mr. Etam has been called an industry thought leader and the most influential voice in the oil patch. He lives in Calgary, Alberta.

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Digital ID in sports: Detroit Pistons Partner with Digital ID Company to Implement Biometric Verification

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Digital ID is entering more aspects of everyday life.

The Detroit Pistons, enjoying one of their most competitive seasons in years, are embracing a digital transformation with a partnership with ID.me, a company specializing in biometric ID verification and digital identity wallets. This move reflects a growing trend in professional sports, where teams are adopting digital identity tools under the guise of enhancing fan experience but also expanding the use of biometric systems in everyday activities.

More: Biometric Entry For Major League Baseball Games is Becoming More Prevalent

Through this collaboration, the Pistons will deploy ID.me’s technology to streamline services for their community, including season ticket holders, loyalty program members, and groups like teachers, nurses, and military personnel. According to the Pistons, biometric verification will ensure that benefits, tickets, and exclusive offers reach actual fans rather than being snatched up by bots and scalpers.

“ID.me is thrilled to help Detroit Pistons fans access tickets and special offers in a more secure, frictionless way,” said Taylor Liggett, chief growth officer at ID.me. He emphasized how digital identity wallets combat increasingly sophisticated fraud attempts by bad actors in the ticketing market.

Adam Falkson, Vice President of Business Intelligence for the Pistons, framed the partnership as a response to evolving threats. “Like most industries, the risk and sophistication around fraud continues to be a threat and a challenge,” he said. Falkson added that the shared vision with ID.me is to protect customers while enhancing services in a secure and gated manner.

However, critics have noted that the growing adoption of digital ID systems in sports goes beyond ticket security, potentially normalizing the use of biometrics in everyday transactions. Sports franchises are increasingly positioning biometric verification as essential for modern fan experiences, extending its use to concessions, merchandise, alcohol purchases, and VIP access.

ID.me, which has recently seen a surge in partnerships, views sports as a fertile ground for advancing its technology. The adoption of these systems aligns with the industry’s broader trend of integrating biometrics into live events, framing it as a way to “strengthen fan relationships” and streamline services. While the Detroit Pistons and ID.me tout the convenience and security of such systems, the broader implications of tying everyday activities to biometric verification risks the growth of a checkpoint society.

 

 

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Alberta

Alberta’s Danielle Smith meets with Trump at Mar-a-Lago for ‘friendly and constructive’ meeting

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From LifeSiteNews

By Anthony Murdoch

Meetings of these kinds in the past would normally have included Canada’s official ambassador, however, Smith has not waited for the Trudeau government to advocate for Canadian energy and instead has gone at it alone. 

Premier of Alberta Danielle Smith met with incoming U.S. President Donald Trump at his Mar-a-Lago home to champion “ethically” sourced Albertan oil and gas only days before the president-elect is set to be inaugurated, in what she said was a “friendly and constructive” meeting.  

“Over the last 24 hours I had the opportunity to meet President @realdonaldtrump at Mar-a-Lago last night and at his golf club this morning. We had a friendly and constructive conversation during which I emphasized the mutual importance of the U.S. – Canadian energy relationship, and specifically, how hundreds of thousands of American jobs are supported by energy exports from Alberta,” wrote Smith on X about her weekend meeting with Trump. 

 

The unprecedented meeting came at the same time Trump appears to have soured relations with Canadian Liberal elites over his annexation talk.  

It also comes after soon-to-be-gone Prime Minister Justin Trudeau met with Trump at Mar-a-lago last month and appeared to refuse to step up and defend the interests of Canadian energy over Trump’s threats to slap high tariffs on Canadian goods once he takes office.

Smith noted about her meeting with Trump that she was able to have “similar discussions” about championing Albertan energy “with several key allies of the incoming administration and was encouraged to hear their support for a strong energy and security relationship with Canada.” 

“On behalf of Albertans, I will continue to engage in constructive dialogue and diplomacy with the incoming administration and elected federal and state officials from both parties and will do all I can to further Alberta’s and Canada’s interests,” she wrote. 

Since taking office in 2015, the Trudeau government has continued to push a radical environmental agenda like the agendas being pushed by the World Economic Forum’s “Great Reset” and the United Nations’ “Sustainable Development Goals.” 

Smit, on the other hand, has been a fierce opponent of Trudeau’s green energy agenda and an advocate for the oil and gas industry.  

She will be attending Trump’s inauguration later next week.  

Observer notes Trump made ‘beeline’ for Smith to meet her at Mar-a-Lago event 

Political analyst for the Calgary Sun Rick Bell, who knows Smith and speaks with her regularly, noted about her meeting with Trump that when “Trump and his family and entourage” arrived he made “a beeline for Smith. He has obviously been told she is the premier of Alberta.” 

“Smith, as you know, has recently been speaking non-stop about oil and gas and is no fan of tariffs,” Bell wrote. 

Bell noted how Smith and Trump spoke about “energy, about oil and gas, about Alberta and Canada,” adding that she told him that production of Alberta oil is “ramping up in a big way and the U.S. buys a lot of Alberta oil.” 

“Smith asks if Trump wants more of our oil. Trump does. It is by far Canada’s biggest export to the Americans,” wrote Bell.  

Smith, in her message about her meeting with Trump, noted that Canada and the United States are both “proud and independent nations with one of the most important security alliances on earth and the largest economic partnership in history.” 

She emphasized how Alberta needs to preserve its “independence while we grow this critical partnership for the benefit of Canadians and Americans for generations to come.” 

Canada has the third largest oil reserves in the world, with most of it being in Alberta, which is produced ethically, unlike in other nations. 

Smith’s meeting with Trump is unusual in that it has happened right before he will become president. Meetings of these kinds in the past would normally have included Canada’s official ambassador, however, Smith has not waited for the Trudeau government to advocate for Canadian energy and instead has gone at it alone. 

Recently, Trump has drawn the ire of many Canadian politicians, including Conservatives, after he said rather brazenly last week that he was considering using “economic force” to make Canada the 51st U.S. state.  

He claimed that there is a $200 billion trade deficit between Canada and the U.S. regarding spending on “subsidies” and the fact the U.S. military is there to also “protect Canada.” 

Smith and others did not seem too offended by Trump’s remarks, most likely realizing they may be part of his negotiating strategy.  

Conservative Party of Canada leader Pierre Poilievre, who likely will soon be the nation’s next prime minister, however, had choice words for Trump.

Trump’s comments came only a day after Trudeau announced he plans to step down as Liberal Party leader once a new leader has been chosen. He was approved by Governor General Mary Simon to prorogue parliament until March 24. This means he is still serving as prime minister, but all parliamentary business has been stopped. 

Smith was against forced COVID jabs, her United Conservative government has in recent months banned men from competing in women’s sports came and passed a bill banning so-called “top and bottom” surgeries for minors as well as other extreme forms of transgender ideology.  

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