Connect with us
[the_ad id="89560"]

Business

COVID response closed more Canadian businesses than 2008 financial crisis: gov’t report

Published

5 minute read

From LifeSiteNews

By Clare Marie Merkowsky

StatsCan revealed that they are witnessing an increase in ‘zombie businesses,’ a phenomenon which occurs when owners never file for bankruptcy but simply walk away from their business.

Statistics Canada has revealed that more businesses closed as a result of the COVID-induced economic downturn than the 2008 financial crisis.

On October 25, Statistics Canada reported that the COVID-19 “pandemic” caused a record number of small businesses to shut down, with many owners never filing for bankruptcy but instead simply walking away from their companies, resulting in a large uptick in a phenomenon called “zombie businesses,” according to information obtained by Blacklock’s Reporter. 

“This finding represents a larger increase than observed during the 2008 financial crisis when the exit rate increased by one percentage point,” wrote analysts.  

The 2007- 2008 financial crisis, also called the Global Financial Crisis, is considered the most severe worldwide economic crisis since the Great Depression of 1929. 

Business exits refer to the permanent closure of a business and can occur without a formal process, meaning owners can walk away from their businesses without declaring bankruptcy.  

According to StatsCan, exits increased at the same time as bankruptcies fell, which is partly because courts were closed due to COVID lockdowns.   

However, analysts noted that exits did not appear in bankruptcy court statistics, adding, “Formal insolvencies are not the whole story. Formal insolvency is but one path a business in distress may take.” 

“The COVID-19 pandemic had a substantial impact on business dynamics leading to the temporary or permanent closure of many businesses,” analysts continued. 

According to a Department of Industry estimate, Canada had 1,198,632 small businesses before COVID lockdowns. While the number has been revealed to have decreased drastically since then, federal agencies have failed to record comprehensive figures on the economic impact of COVID lockdowns and regulations.  

According to a 2022 Bank of Canada survey, only an estimated half of businesses reopened after being closed by COVID lockdowns. The research tracked 12,976 businesses throughout Vancouver, Toronto and Ottawa including bars, restaurants, shops, nightclubs and motels, which were locked down by COVID regulations in April and May 2021. 

“Half of businesses recorded as temporarily closed in May had reopened by the end of September,” the Bank reported. “Forty percent were still hibernating. Ten percent were closed for good.” 

Statistics Canada’s report comes as Liberals MPs recently opted for a closed-door review by Minister of Health advisers of how the Canadian government handled the COVID-19 “pandemic” instead of launching a public inquiry. 

In recent months, numerous reports have emerged revealing the Trudeau government’s mismanagement during the COVID-19 “pandemic.” 

In a 2021 report Pandemic Preparedness, the Auditor General revealed that the cabinet was “not adequately prepared.” 

Furthermore, Lessons Learned From The Public Health Agency Of Canada’s COVID-19 Response, an internal audit, condemned managers for “confusion,” “limited public health expertise” and “no clear understanding” of how to compile critical data. 

Additionally, former Finance Minister Bill Morneau declared that spending programs to tackle COVID were prolonged and led to inflation under Prime Minister Justin Trudeau’s leadership. 

During the so-called COVID-19 pandemic, the Trudeau government issued billions to Canadians who claimed they needed Canadian Emergency Response Benefits (CERB) as they were not permitted to work under COVID regulations. 

Recently, the Canadian Revenue Agency (CRA) has worked to take back the $3.2 billion from Canadians who filed for and were given CERB despite not being eligible to receive it. However, many are fighting in court to keep their government payments. 

Business

Feds blow $2.7 million on global film festivals

Published on

From the Canadian Taxpayers Federation

Author: Franco Terrazzano 

At the 2024 Cannes Film Festival in France, bureaucrats spent $9,930 on “umbrella stand coordinator services”

The Trudeau government blew more than $2.7 million on high-profile film and music festivals around the world, where they made taxpayer cash rain throwing expensive parties.

All that spending occurred for events that took place during a 16-month period, between January 2023 and May 2024, according to government records obtained by the Canadian Taxpayers Federation.

Bureaucrats attended the Oscars, the Cannes Film Festival in France, the Berlinale film festival in Germany, and the South by Southwest music and film festivals in Austin, Texas and Australia – all on the taxpayer dime.

“Government bureaucrats spent $175,000 a month partying it up at international film and music festivals,” said Franco Terrazzano, CTF Federal Director. “In what world does it make sense for bureaucrats to blow millions of taxpayer dollars on festivals when the government is more than a trillion dollars in debt and record numbers of Canadians are lining up at food banks?”

During South by Southwest festivals, bureaucrats spent $35,000 on plant and furniture rentals for a “Canada House” event, as well as $5,000 on “DJ services” and “animation services.”

An additional $15,000 was spent on a “social media champion” for the Canada House. Food and drink catering costs for a reception, as well as an “opening party” came to $11,700.

The 2023 South by Southwest festival in Australia also had a “Canada House,” with costs totalling at least $97,000. Bureaucrats also expensed $17,000 for an “event coordinator.”

At the 2024 Cannes Film Festival in France, bureaucrats spent $9,930 on “umbrella stand coordinator services.”

During the Berlinale festival, the rental fee for a “Canada Pavilion” came to $74,000.

Additional expenses at the festivals included professional photographers and hundreds of thousands of dollars spent on decoration services.

“Maybe government bureaucrats should figure out how to do basic things, like answering taxpayers’ phone calls, before trying to DJ international parties,” Terrazzano said. “Taxpayers are giving this international film festival party junket two big thumbs down.”

The spending happened at the ministries of Global Affairs Canada and Canadian Heritage, with money also spent by the National Film Board.

All told, the cost to taxpayers came in at $2,798,719, according to the records. The events all occurred during a 16-month period. That means the average spending on the festivals was $174,919 per month.

The government has already earmarked spending for future film and music festivals, with bureaucrats indicating the “plan is to continue to support Canadian talent at these world-class markets,” according to the records.

The details were released in response to an order paper question submitted by Conservative MP Michelle Rempel Garner (Calgary Nose Hill).

Continue Reading

Automotive

Ford Files Patent to Surveil Drivers

Published on

News release from Armstrong Economics

By Martin Armstrong

Governments are pushing the public to switch to smart vehicles to reduce fossil fuel consumption, but there is also a second motive – surveillance.

This September, Ford filed a new patent to eavesdrop on riders. They plan to share this information with third-parties to personalize the advertisements riders hear. Ford will also take the driver’s destination into consideration to determine location-specific advertisements and suggestions. The technology will factor in the weather, traffic, and all external sensors to fine tune when and what to market to passengers.

Advertisements are perhaps the least ominous use of voice data based on the plans that these car manufacturers have. Car insurance rates in the United States spiked 26% in the past year, which is partly due to car manufacturers sharing ride data with insurance companies. Even older cars with basic features like OnStar have tracking devices that report your driving behavior to the manufacturers who share your data with insurance companies and, ultimately, the government. LexisNexis, which tracks drivers’ behaviors and compiles risk profiles, has been sharing individual data with General Motors, who passes that information along to the insurance companies. General Motors.

One driver demanded that LexisNexis send him his personal report, which was a 258-page document containing every trip he or his wife took in his vehicle over a six-month period. LexisNexis said that this data will be used “for insurers to use as one factor of many to create more personalized insurance coverage.” They even reported small issues such as hard breaking and rapid acceleration, according to the report. “I don’t know the definition of hard brake. My passenger’s head isn’t hitting the dash,” an unnamed Cadillac driver enrolled in the OnStar Smart Driver subscription service told reporters.

“Cars have microphones and people have all kinds of sensitive conversations in them. Cars have cameras that face inward and outward,” a researcher with Mozilla Foundation told the Los Angeles Times. In fact, 19 automakers in 2023 admitted that they have the ability to sell your personal data without notice. Law enforcement may subpoena these records as well.

Ford claims that the patent was submitted, but they do not necessarily plan to use the technology. “Submitting patent applications is a normal part of any strong business as the process protects new ideas and helps us build a robust portfolio of intellectual property. The ideas described within a patent application should not be viewed as an indication of our business or product plans. No matter what the patent application outlines, we will always put the customer first in the decision-making behind the development and marketing of new products and services,” Ford said in a statement released to MotorTrend.

Now, the US Department of Transportation is permitted to mandate that certain manufacturers provide them with vehicle data. Sens. Ron Wyden of Oregon and Edward Markey of Massachusetts testified that all vehicles in the United States with a GPS or emergency call system are collecting travel data that car manufacturers have remote access to via the computer chips. The computer chips are compiling data on vehicle speed, movement, travel, and even using exterior sensors and cameras to record the vehicle’s location.

All of this violates the Fourth Amendment which protects against unreasonable searches and seizures without probable cause. These car manufacturers are surpassing what anyone would consider a reasonable expectation of privacy. Governments, third-party advertisement companies, and insurance companies all have warrantless access to personal data, and drivers are largely unaware they are being spied on. Section 702 of the Foreign Intelligence Surveillance Act permits the government to have backdoor access to this data.

The aforementioned senators’ concerns fell on deaf ears at the Federal Trade Commission. The Department of Transportation clearly is not listed within the US Constitution. People are already experiencing stiff consequences from autos sharing data with the sharp uptick in insurance rates.

Continue Reading

Trending

X