Canada lost 300 000 jobs in July. There will be more to come caused by the impending arrival of the American chain, Target, taking over Zellers leases for almost $2 billion. Both are almost identical stores in merchandise and prices. Although Target posted earnings of $704 million for the last quarter, they did not take all the Zellers, especially those that are unionized and they will have to close down. Crazy system! That's $2 billion of social wealth squandered!
In the midst of the recession, the banks have some good news(?). Canada's top five banks posted profits of over $8 billion for the last quarter, a record for two of them. Nice work if you can get it.
Americans and guns seem inseparable. A police officer from Kalamazoo, Michigan, on holiday in Calgary, wrote to the Calgary Herald that he felt threatened when two locals approached him and his wife and offered suggestions for sight seeing, including tickets to the Calgary Stampede. He was complaining that tourists should be able to pack weapons to defend themselves. Then in Colorado, the scene of two mass shootings in recent years, the University in Boulder thinks it has the answer to guns. Those packing weapons will be confined to just one dormitory on campus. Come on! It's a handy thing to have when you are studying! John Ayers
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