Sunday, March 24, 2019

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Current Account Balance (cab)

Whether it’s a whole country or just you and me, CAB is the amount of money going out subtracted from the amount of money coming in. When it comes to national economies, the CAB is the truest indicator of economic well-being if viewed over a reasonable length of time. It’s also the least-reported statistic in Canada. While StatsCan is willing to tell us that we have a trade surplus, and the corporations use it to convince us that the economy is performing well even though we have a huge public deficit and too much unemployment, we never hear a word about the woeful condition of our national CAB. If we did, we’d figure out that the outflow of profits to offshore corporations have been impoverishing the country for the last 15 years, and have made Canadian governments incapable of paying off debts. Try to extract the numbers on this out of StatsCan.

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