By Tyler Orton
Not into fear mongering, but boy, this week was a dire one for the markets.
China’s decision to devalue its currency sent investors into a selling frenzy (trading on the Shanghai Stock Exchange was halted after 29 minutes Thursday) over concerns the Middle Kingdom’s economy may be weaker than previously expected.
Thursday’s chaos was the second time in a week trading was halted in China and billionaire speculator George Soros didn’t alleviate concerns when he said the ensuing global market rout reminded him of the 2008 financial crisis.
I don’t think we’re quite there. Consider Shanghai has only had a stock exchange for 25 years and many of its investors are quite unsophisticated.
I’m not saying the institutional investors in the rest of the world always get it right, but there’s a much greater chance of volatility in the Chinese exchanges.
And if volatility is on the agenda, how can we not talk about the U.S. presidential elections?
Donald Trump’s penchant for pushing the birther movement is back, even if U.S. President Barack Obama is not the target.
And along with Trump, former Republican presidential candidate John McCain also contends Canada-born Ted Cruz’s eligibility is “worth looking into.” McCain, if you recall, was born in the Panama Canal Zone — a military base — to two U.S. parents.
Most legal scholars agree there’s little weight behind questions about Cruz’s eligibility (his mother was born in the U.S.)
But I’m sure a few Canadians are bummed Cruz renounced his Canadian citizenship in 2014. The U.S. could have had its first Canadian president in a year’s time. The thought of which could frighten other Canadians.
Looking overseas still — lots of controversy over an ad for Thai skin-whitening products.
When I lived in the Philippines in the late 2000s, pharmacy shelves were always stocked and more than a few of my Filipino co-workers used the products. It’s definitely strange for Canadians obsessed with looking tan but issues over class, race and — quite frankly— different definitions of beauty still persist throughout much of the world.
Speaking of friends from overseas, a pal of mine just received his permanent residency last fall after moving to B.C. from the U.K. three years ago.
Upon arriving on the West Coast, the British expat was miffed he would have to pay for Medical Service Plan (MSP) premiums.
While MSPs are covered through taxes in other parts of Canada, here we all pay a flat rate.
So should B.C. adopt the same system as Ontario, where the premium is based on income? Green Party MLA Andrew Weaver has been making a big push the past year.
And it appears more likely than ever that HBO’s Deadwood will be returning after it was prematurely cancelled a decade ago. I sure hope it’s better than True Detective’s second season (so does the head of HBO).
If they mess it up, I will be launching a big campaign against the hoopleheads in charge (that reference will undoubtedly be lost on non-Deadwood fans).
As for things getting lost in translation, what about Google mistranslating “Russia” into “Mordor” or Foreign Minister “Sergey Lavrov” into “sad little horse”?
Apparently, these are pretty cutting insults in Ukraine.
Now considering all the insults lobbed at Martin Shkreli the past few months, who knew he actually makes for a fantastic Tinder date?
