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Jobless Benefits Claims Double In Canada's Dying Oil Patch As Construction Jobs Plunge 84%

Jobless Benefits Claims Double In Canada's Dying Oil Patch As Construction Jobs Plunge 84%

2015 was not a good year for job creation in Alberta.

In fact, the net 19,600 jobs the province shed marked the worst year for job losses since 1982.

Alberta is of course suffering from the dramatic collapse in oil prices, which look set to remain “lower for longer” in the face of a recalcitrant Saudi Arabia and an Iran which is hell bent on making up for lost time spent languishing under international sanctions.

P2P Site That Financed San Bernardino Massacre Hikes Rates Citing "Turbulent Markets"

P2P Site That Financed San Bernardino Massacre Hikes Rates Citing "Turbulent Markets"

“Peer-to-peer lending is probably a bad idea,” we wrote, earlier this month. “Securitizing peer-to-peer loans is definitely a bad idea,” we added.

The P2P space has witnessed monumental growth over the past several years. P2P platforms lent over $12 billion in 2015 alone and as we documented last summer, Wall Street is supercharging the space by securitizing the loans.

Forget "The Great Moderation", This Is "The Great Intellectual Failure"

Via Scotiabank's Guy Haselmann,

A well-known central banker once said to me, “if you don’t have a Plan B, then you don’t have a plan”.  When he spoke those words over a year ago, he was referring to the Fed’s lack of an exit strategy from zero rates and its QE-swollen balance sheet. He was telling me that the Fed was so focused on bettering ‘today’ through aggressive stimulus that it could not worry about ‘tomorrow’. He speculated that central banks were “terrified of looking as if they were doing too little”.

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