Authored by Wolf Richter via WolfStreet.com,
With surprise rate hike, Bank of Canada turns against housing market...
Home sales in the Greater Toronto Area, the largest housing market in Canada, plunged 34.8% in August compared to a year ago, to 6,357 homes, with sales of detached homes and semi-detached homes getting eviscerated:
Sales by type:
Thanks to a surge in government spending in Q2, Canada's GDP grew at 4.5% SAAR. This is the best growth since Q3 2011 and is the best growth of all G-7 nations in Q2.
This is higher than the highest economist estimate...
Eight months.
That’s how long it took for Canadian Prime Minister and liberal hero Justin Trudeau to realize his promise to welcome all immigrants and refugees to Canada may have been a little short-sighted. After the prime minister proudly proclaimed on Twitter back in January that Canada would welcome all those fleeing “persecution and war,” the prime minister changed his tone this week when he warned refugees crossing into Canada from the US that sneaking into the country illegally wouldn't fast-track the process of granting asylum.
Prime Minister Justin Trudeau should probably stop telling refugees that “everybody is welcome in Canada,” after his vow to protect asylum seekers inspired thousands of migrants to journey north across the US-Canada border, fearing deportation should they remain in the states following the election of President Donald Trump.
There are many types of maps out there, but one of the most telling ones is a simple satellite image of the Earth at night. As 's Jeff Desjardins writes, on these powerful images, the darkness is a blank canvas for the bright city lights that represent the vast extent of human geography. The bright spots help us understand the distribution of population, as well as what areas of the world are generally wealthier and more urban.