Jrmining

Platts senior reporter - Metals & mining
S&P Global Commodity Insights

kipkeen.01 via signal

[Jrmining @JrMining]

This centralizes more power with parties, and lessens the spirit of Canadian representative democracy

[Holly Doan @hollyanndoan]

Floor crossing is “odious” and infuriates voters, says MP @DonDavies. Private Bill C-278 would require MPs who cross to face a byelection. “Political opportunism has gotten to such a point in this place that it’s overriding fundamental respect for democracy.”
https://t.co/0Tw9JlJKXQ
@NDP #cdnpoli

[Terry Glavin 格立文 @TerryGlavin]

I co-authored a book with the former students of the residential school where Aaron's grandmother was abused. I'd be prepared to go to jail over this too.

[Aaron Pete @Aaronpete_]

I'm prepared to go to jail over this.

My grandmother Rita Pete went to St. Mary's Indian Residential School. She experienced terrible abuse. As a consequence, she struggled with alcohol use most of her life.

My mother was born with FASD as a consequence of her using alcohol to cope with her trauma.

I am Chief of my community Chawathil First Nation. I am working to address the longstanding impacts of these past policies through renovating homes, building new homes, creating childcare, and growing businesses through economic development.

I have interviewed people who went to Indian Residential Schools. I have interviewed people who believe Indian Residential Schools were awful, horrible schools, meant to remove the Indian from the child.

I've also interviewed people who believe they were well intended, generous investments by Canadian taxpayers meant to assimilate a society and had shortcomings.

Like with many things, the history is dark, complicated, and with any policy that existed for a long time, across a whole country - there were different experiences.

No one story tells us everything. No report shares the full experience of the individuals who went. No commentator today can disprove someone's lived experience with statistics.

The path forward is not to criminalize speech, questions, or debate.

The path forward is empathy for past attendees.
The path forward is truth based on facts.
The path forward is real conversations.
The path forward is to lean into complexity.

If the government criminalizes this, then I will be a criminal for having these conversations.

If I am a criminal by the laws definition, then I am committed to going to jail over this.

[Jrmining @JrMining]

While parties are a feature of our democracy, do we not vote for the person, our member?

[Don Davies @DonDavies]

Today I introduced legislation to ban floor crossing without voter consent. When MPs switch parties after an election, they override the will of the people and erode trust. My bill restores accountability: if you want to change parties, face your constituents and let them decide.

[Robyn Urback @RobynUrback]

Or, put another, way: immigration was artificially boosting economic performance measures. Interesting that he would admit this!

[Andrew Coyne 🇺🇦🇮🇱🇬🇪🇲🇩 @acoyne]

Oh good we haven’t had nearly enough of those.

[Brian Lilley @brianlilley]

This morning, Pete Hoekstra, @USAmbCanada, used his official account to push the 51st state idea.
He's downplayed that in the past, now he's pushing it.
If this is what he believes, perhaps it's time for the Carney government to ask him to leave.

https://t.co/GcykBL08Ut

[Andrew Coyne 🇺🇦🇮🇱🇬🇪🇲🇩 @acoyne]

Gold replaces US Treasuries as world’s top reserve asset, ECB says via @FT
https://t.co/9oB6QSMlj9

[Holly Doan @hollyanndoan]

.@SenateCA human rights committee votes 7 to 1 to criminalize Indian Residential School “denialism.”
Public statements intended to promote hatred by downplaying impacts of Residential Schools would be outlawed under threat of 2 years in jail.
https://t.co/rrIp37JzBY
#cdnpoli @TerryGlavin @jonkay

[Dominic LeBlanc @DLeBlancNB]

This morning, alongside my colleague Minister Hodgson and Canada’s Chief Trade Negotiator to the U.S., Janice Charette, I met with representatives from Canada’s oil and gas sector as part of our ongoing engagement with Canadian industry ahead of the joint CUSMA review.

Our discussions highlighted opportunities for Canada and the U.S to further strengthen North American energy cooperation, all while ensuring certainty and predictability for Canadian businesses and workers.

[Holly Doan @hollyanndoan]

PM @MarkJCarney skips Commons questions on recession to take 15-minute tour of construction site. Carney wore hard hat, carried a hammer and then “left the manufacturing floor as media were asked to leave,” reported Press Pool.
https://t.co/8MCG4SI2Bn
#cdnpoli @HICC_ca

[BNN Bloomberg @BNNBloomberg]

U.S. excludes Canada from trade talks with Mexico https://t.co/Ap0ZRl7tUR

[Thierry from arvy 🇨🇭 @ThierryBorgeat]

Imagine you spent 40 years doing the boring, responsible thing.

You opened a 401k at 23. You contributed every paycheck. You ignored the noise. You bought the index because Bogle told you to, because Buffett told you to, because every honest piece of financial advice for 30 years told you the index was the safest, most diversified, most rules-based way to own America.

The whole point was the rules.

The rules said: a company must trade for 12 months before joining the S&P 500. The rules said: it must show four consecutive quarters of GAAP profitability. The rules existed because in 1999 the index quietly bought a lot of stocks at the top, and pensioners paid the bill.

After the dot-com crash, S&P tightened the rules. Nasdaq tightened the rules. FTSE Russell tightened the rules.

For 23 years, those rules held.

Then SpaceX filed for IPO.

And the rules changed.

The S&P 500 waived the profitability requirement. Nasdaq cut its trading-history window from 90 days to 15. FTSE Russell cut its to 5.

Bloomberg Intelligence estimates the major index funds will absorb between 19% and 24% of SpaceX's float within six months. That's over $30 trillion of passive 401k and retirement money, mechanically buying a single newly public company at IPO valuations, because the rules said they had to.

Except the rules used to say they didn't.

Here's the thought exercise:

If you spend 40 years building a system designed to protect ordinary savers from buying overpriced stocks, and then you waive the protections the moment a sufficiently large stock asks you to, what was the system actually protecting?

Most of investing is about understanding what's a rule and what's a guideline.

A rule binds the rule-maker.

A guideline binds the saver.

You're allowed to find out which is which only after the fact.

[Christine Van Geyn @cvangeyn]

*Last year, the office spent $10-million hosting a four-day conference in Ottawa.*

https://t.co/iILxNQMMMd

[Holly Doan @hollyanndoan]

Federal figures confirm cabinet granted China 51% of Canadian battery #EV market through 2031. @ISED_CA Minister @melaniejoly had downplayed concession as “a small quota.”
https://t.co/3vwBa1Yajo
#cdnpoli @StatCan_eng

[NBER @nberpubs]

Both IPCC policymaker summaries and subsequent newspaper coverage systematically frame climate findings toward the more severe end of the underlying technical evidence, from @SFGaliani, @Franco_MettLG, and @raul_sosa2908 https://t.co/RrCZRKyA1o

[Heather Exner-Pirot @ExnerPirot]

👀 The Supreme Court of Canada has upheld a ruling that Aboriginal title cannot be declared over private land, in a decision the federal government says will have an impact on the Cowichan Tribes case in British Columbia.

[Holly Doan @hollyanndoan]

MP @s_guilbeault bids farewell to half-empty House of Commons. Guilbeault sat quietly as one MP faulted him for environmental policies that “caused so much hardship for so many families across this country.”
https://t.co/u0396sLFod
@environmentca @MarkJCarney @shuvmajumdar #cdnpoli

[Holly Doan @hollyanndoan]

Feds confirm ‘Buy Canadian’ policy benefits 100% foreign-owned corporations with storefront operations in Canada but couldn’t say if a company hiring temporary foreign workers would qualify.
“The goal of the Buy Canadian policy is not to exclude foreign suppliers.”
— Dominic Laporte, @PSPC_SPAC
https://t.co/zP1BO28cFe
#cdnpoli

[Holly Doan @hollyanndoan]

Commons by vote of 199 to 139 rejects Conservative motion to sustain property rights after judge granted Indigenous title to 1,846 acres near Richmond, B.C. including private lots.
https://t.co/xXNxWcxhLE
@Jamie_Schmale #cdnpoli #bcpoli