There's No Way Venus Could Ever Have Had Oceans, Astronomers Say

Artist's impression of Venus. (MArk Garlick/Science Photo Library/Getty Images)
SPACE

MICHELLE STARR
13 OCTOBER 2021

Let's be honest: in the Solar System, there really is no good place for humans that isn't Earth. But that doesn't mean all bad places were created equal; and Venus is about as inhospitable as a temperate-zone rocky exoplanet can get.

In recent years, evidence has been mounting to suggest that this was not always the case. That, once upon a time, in its wild, wayward youth, Venus could have been habitable, with a lovely climate and even liquid oceans.

Well, maybe we should forget all that. According to new research modelling the climate of Venus and of Earth in their early years, Earth's so-called sister planet would never have cooled sufficiently to allow the condensation of water into liquid.

Once a toxic hell-planet, always a toxic hell-planet, it seems.

Venus is a lot like Earth in many ways. It's a similar size and composition, and once, when the Sun was younger and cooler, it should have had a more temperate climate.

Now, it's anything but temperate. Venus's sky is filled with thick clouds of sulfuric acid, and its atmospheric pressure at 0 altitude is almost 100 times greater than Earth's. If that weren't bad enough, it's lander-meltingly hot, with an average surface temperature of 471 degrees Celsius (880 degrees Fahrenheit).

But because of the similarities between the two planets, scientists think that Venus could be a sign of what's in Earth's future, as the Sun's brightness continues to rise.


This is especially relevant if Venus was once more like Earth, with liquid oceans, and previous research has found evidence that this could have been the case, especially when the Sun was around 30 percent dimmer (and therefore cooler) than it is today.

This faint, young Sun, however, presents a paradox: At those temperatures, Earth should have been a frozen ice ball, yet we have evidence that liquid water was present relatively early.

A team of researchers led by astronomer Martin Turbet of the University of Geneva in Switzerland has now not only shown that Venus was never like Earth, but found a resolution for the faint, young Sun paradox.

"We simulated the climate of the Earth and Venus at the very beginning of their evolution, more than 4 billion years ago, when the surface of the planets was still molten," Turbet said. "The associated high temperatures meant that any water would have been present in the form of steam, as in a gigantic pressure cooker."

In order for this steam to condense into clouds and rain down on the surface, Venus would have had to have cooled for several thousand years. This could only have happened if clouds formed to block solar radiation from the Venusian surface.

The team's climate modelling showed that clouds could have formed on a baby Venus – but only on the cooler night side of the planet. Not only would this not prevent solar radiation from reaching the day side, it would have made the planet warmer by generating a powerful greenhouse effect on the night side.

This would mean that water vapor could never have condensed in the atmosphere, let alone in sufficient quantities to rain down on the planet to fill entire oceans over millennia. This validates the notion of "steam Venus" that was first proposed in 2013 using simpler modelling.

Interestingly, though, the team's work showed that "steam Earth" could also have happened, even with a weaker Sun. In fact, if the solar radiation had been any stronger, Earth could have ended up like Venus.

Rather than freezing a liquid Earth, the research showed, the faint young Sun would have allowed our steamy planet to cool enough to allow for water to condense into liquid.

Exactly how Earth and Venus ended up on such different evolutionary paths is far from confirmed, however, and a mystery that planetary scientists would love to solve. Even if it doesn't have implications for our future, it may help us find other habitable worlds, out there in the wider Milky Way galaxy.

"Our results are based on theoretical models and are an important building-block in answering the question of the history of Venus," said astronomer David Ehrenreich of the University of Geneva.

"But we will not be able to rule on the matter definitively on our computers. The observations of the three future Venusian space missions will be essential to confirm – or refute – our work."

The research has been published in Nature.

Covid-19 demonstrated “potency” of public spending, says IMF

 – 10/13/2021 



The coronavirus crisis has caused a much greater increase in public and private debt than the global financial crisis, the IMF said on Wednesday (13), stressing a “great financial divide” between countries that have access to finance and the that does not have.

Debt was generally put to good use during the pandemic, according to Vitor Gaspar, head of fiscal policy at the IMF, protecting Covid-19 families and businesses, speeding recovery and improving economic prospects.

Almost 90% of the active fiscal support mobilized during the Covid crisis was taken over by advanced economies and China. While these countries also had better access to vaccines, the IMF said it demonstrated the value of being able to support economies with public spending during a crisis.

By comparison, the lack of access to cheap credit has undermined prospects for emerging and developing countries, according to Gaspar. “The financial gap seems to translate into economic prospects. And in the case of low-income countries [a grande divisão] seems to create difficulties that persist in the medium term.”

“In 2020, fiscal policy proved its potency,” added Gaspar, as the poorest countries now face greater long-term economic losses from Covid-19, with depressed tax revenues and underlying worsening public finances.

In the IMF’s Fiscal Monitor, published on Wednesday (13), advanced economies did not emerge from the pandemic unscathed, with debt levels expected to stabilize at just below 100% of national income. However, this was less than expected six months ago.

Deficits are also likely to return to manageable levels as economies recover to normal production levels, close to their pre-pandemic trend. The IMF has not recommended that these countries take additional steps to reduce deficits.

When investing in the future, Gaspar said the pandemic has already shown that loans for “well spent” capital spending will have a positive return, boosting economic performance and not increasing the long-term debt burden.

“Vaccination at this point in Covid-19 is likely to be the highest-returning global public investment to date,” said Gaspar, adding that in many poor countries investment to help people adapt to global warming has had very high returns.

The IMF conducted a simulation exercise to assess the likely effects of the Biden government’s proposed infrastructure and family support programs in the US, in conjunction with the European Union’s recovery fund.

These huge programs added together will add 0.7% to the level of the global Gross Domestic Product in the coming years, in the assessment of the IMF, increasing investments and real interest rates in the process, with the benefits felt more intensely in the USA, in the EU and in raw material exporting countries.​

The IMF warns of growing threats to global economic recovery

The IMF is warning that threats to the global eocnomic recovery are growing along with a ‘dangerous divergence’ in recoveries between richer and poorter nations.

IMF chief Gita Gopinath said on Tuesday that the 'foremost priority' is to vaccinate at least 40 percent of the population in every country by the end of this year 

[File: Rodrigo Garrido/Reuters]

By Al Jazeera Staff
12 Oct 2021

The International Monetary Fund did not mince words in its latest outlook for the global economy released on Tuesday, warning that the threats to the economic recovery from last year’s COVID-19 disruptions are growing, along with a “dangerous divergence” between richer and poorer countries.

The IMF revised its headline forecast for global growth this year down slightly by 0.1 percent to 5.9 percent while leaving its projections for 2022 unchanged at 4.9 percent.

“This modest headline revision, however, masks large downgrades for some countries,” said the fund, noting that “the outlook for the low-income developing country group has darkened considerably due to worsening pandemic dynamics.”

IMF chief economist Gita Gopinath elaborated on those pandemic dynamics in a virtual news conference on Tuesday, saying that global supply shortages in the face of resurgent demand are triggering commodity price inflation that is being passed on to consumers.

“Food prices have increased the most in low-income countries where food insecurity is most acute, adding to the burdens of poorer households, and raising the risk of social unrest,” she noted.

Moreover, emerging and developing economies are facing tougher financing conditions as debt levels climb, inflation soars and their currencies weaken against the US dollar – compelling them to raise interest rates in a bid to keep inflation expectations in check.

Gopinath added that challenges like rising food inflation, food insecurity and increased risk-taking in financial markets are underpinned by the pandemic’s “continued grip” on global society.

“The foremost priority is, therefore, to vaccinate at least 40 percent of the population in every country by the end of this year, and 70 percent by the middle of next year,” Gopinath said.

Almost 60 percent of the population in advanced economies are fully vaccinated and some people are even receiving booster shots. At the same time, roughly 96 percent of the population in low-income countries have yet to receive a single COVID jab, the IMF noted.

The recovery gap between richer and poorer countries is expected to widen, with the IMF calling for advanced economies to regain their pre-pandemic trend path next year and exceed it by 0.9 percent in 2024.

By contrast, the fund predicted economic growth in emerging and developing economies – minus China – would remain 5.5 percent below pre-pandemic forecasts in 2024, “resulting in a larger setback to improvements in their living standards”.

While the IMF saw inflation reverting to pre-pandemic levels by the middle of next year, a more granular analysis reveals a wide disparity in the outlook between nations.

For advanced economies, the fund believed headline inflation would peak in the final months of this year and decline to about 2 percent by mid-2022. For emerging market and developing economies, headline inflation is expected to peak at 6.8 percent later this year before falling to about 4 percent by the middle of next year “with risks tilted to the upside over the medium term”.

SOURCE: AL JAZEERA

'Great financing divide' between rich, poor nations slows recovery - IMF

By Andrea Shalal

WASHINGTON (Reuters) - Economic growth in poorer countries will likely lag pre-pandemic expectations for years, given gaps in vaccination rates, revenue growth and the ability to borrow, the International Monetary Fund said in its Fiscal Monitor report released on Wednesday.

Global debt levels increased to a record $226 trillion in 2020, a $27 trillion jump in just one year that far exceeds the $20 trillion cumulative gain seen over the two years during the global financial crisis of 2008 and 2009, the report showed.

About 90% of that increase came from advanced economies, plus China, with emerging and developing economies far less able to access financial markets for their spending needs, and also more vulnerable to possible interest rate rises, Vitor Gaspar, the IMF’s head of fiscal policy, told Reuters in an interview.


“The great vaccine divide, climate change, and the great financing divide are global problems that demand global action,” he said, warning that low-income countries face compounding challenges that could slow growth prospects for years.

The pandemic has exacerbated the “already considerable” financing gaps facing low-income countries before the crisis, Gaspar said, adding that emerging and developing economies were also more vulnerable to changes in global interest rates.

That meant they could see borrowing costs rise faster than expected once central banks start to remove monetary support seen during the pandemic, the report said.

Global government debt has stabilized at a record $88 trillion, just below 100% of gross domestic product, with fiscal and economic developments varying widely, depending on local vaccination rates, the stage of the pandemic, and the ability of governments to access low-cost borrowing.

Overall, the report said, an estimated 65 million to 75 million more people will fall into poverty by the end of 2021 than would have been the case without the pandemic.

Reporting by Andrea Shalal; Editing by Christian Schmollinger

World’s growth cools and the rich-poor divide widens

Worldwide poverty, hunger and unmanageable debt are all on the upswing. Employment has fallen, especially for women, reversing many of the gains they made in recent years.


By: New York Times |
October 13, 2021 

A street in Sao Paulo, Brazil. Poverty in many nations is on the upswing.

 (Mauricio Lima/The New York Times)

Written by Patricia Cohen and Alan Rappeport

As the world economy struggles to find its footing, the resurgence of the coronavirus and supply chain chokeholds threaten to hold back the global recovery’s momentum, a closely watched report warned on Tuesday.

The overall growth rate will remain near 6% this year, a historically high level after a recession, but the expansion reflects a vast divergence in the fortunes of rich and poor countries, the International Monetary Fund said in its latest World Economic Outlook report.


Worldwide poverty, hunger and unmanageable debt are all on the upswing. Employment has fallen, especially for women, reversing many of the gains they made in recent years.

Uneven access to vaccines and health care is at the heart of the economic disparities. While booster shots are becoming available in some wealthier nations, a staggering 96% of people in low-income countries are still unvaccinated.

“Recent developments have made it abundantly clear that we are all in this together and the pandemic is not over anywhere until it is over everywhere,” Gita Gopinath, the IMF’s chief economist, wrote in the report.

The outlook for the United States, Europe and other advanced economies has also darkened. Factories hobbled by pandemic-related restrictions and bottlenecks at key ports around the world have caused crippling supply shortages. A lack of workers in many industries is contributing to the clogs. The U.S. Labor Department reported Tuesday that a record 4.3 million workers quit their jobs in August — to take or seek new jobs, or to leave the workforce.

In the United States, weakening consumption and large declines in inventory caused the IMF to pare back its growth projections to 6% from the 7% estimated in July. In Germany, manufacturing output has taken a hit because key commodities are hard to find. And lockdown measures over the summer have dampened growth in Japan.

Fear of rising inflation — even if likely to be temporary — is growing. Prices are climbing for food, medicine and oil as well as for cars and trucks. Inflation worries could also limit governments’ ability to stimulate the economy if a slowdown worsens. As it is, the unusual infusion of public support in the United States and Europe is winding down.

“Overall, risks to economic prospects have increased, and policy trade-offs have become more complex,” Gopinath said.

The IMF lowered its 2021 global growth forecast to 5.9%, down from the 6% projected in July. For 2022, the estimate is 4.9%.

The key to understanding the global economy is that recoveries in different countries are out of sync, said Gregory Daco, chief U.S. economist at Oxford Economics. “Each and every economy is suffering or benefiting from its own idiosyncratic factors,” he said.

For countries like China, Vietnam and South Korea, whose economies have large manufacturing sectors, “inflation hits them where it hurts the most,” Daco said, raising costs of raw materials that reverberate through the production process.

The pandemic has underscored how economic success or failure in one country can ripple throughout the world. Floods in Shanxi, China’s mining region, and monsoons in India’s coal-producing states contribute to rising energy prices. A COVID outbreak in Ho Chi Minh City that shuts factories means shop owners in Hoboken, New Jersey will not have shoes and sweaters to sell.

The IMF warned that if the coronavirus — or its variants — continued to hopscotch across the globe, it could reduce the world’s estimated output by $5.3 trillion over the next five years.

The worldwide surge in energy prices threatens to impose more hardship as it hampers the recovery. This week, oil prices hit a seven-year high in the United States. With winter approaching, Europeans are worried that heating costs will soar when temperatures drop. In other spots, the shortages have cut even deeper, causing blackouts in some places that paralyzed transport, closed factories and threatened food supplies.

In China, electricity is being rationed in many provinces and many companies are operating at less than half of their capacity, contributing to an already significant slowdown in growth. India’s coal reserves have dropped to dangerously low levels.

And over the weekend, Lebanon’s 6 million residents were left without any power for more than 24 hours after fuel shortages shut down the nation’s power plants. The outage is just the latest in a series of disasters there. Its economic and financial crisis has been one of the world’s worst in 150 years.

Oil producers in the Middle East and elsewhere are lately benefiting from the jump in prices. But many nations in the region and North Africa are still trying to resuscitate their pandemic-battered economies. According to newly updated reports from the World Bank, 13 of the 16 countries in that region will have lower standards of living this year than they did before the pandemic, in large part because of “underfinanced, imbalanced and ill-prepared health systems.”

Other countries were so overburdened by debt even before the pandemic that governments were forced to limit spending on health care to repay foreign lenders.

In Latin America and the Caribbean, there are fears of a second lost decade of growth like the one experienced after 2010. In South Africa, over one-third of the population is out of work.

And in East Asia and the Pacific, a World Bank update warned that “COVID-19 threatens to create a combination of slow growth and increasing inequality for the first time this century.” Businesses in Indonesia, Mongolia and the Philippines lost on average 40% or more of their typical monthly sales. Thailand and many Pacific island economies are expected to have less output in 2023 than they did before the pandemic.

Some developing economies are doing better than last year, partly because of the increase in the prices of commodities like oil and metals that they produce. Growth projections ticked up slightly to 6.4% in 2021 compared with 6.3% estimated in July.

“The recovery has been incredibly uneven,” and that’s a problem for everyone, said Carl Tannenbaum, chief economist at Northern Trust. “Developing countries are essential to global economic function.”

The outlook is clouded by uncertainty. Erratic policy decisions — like Congress’ delay in lifting the debt ceiling — can further set back the recovery, the IMF warned.

But the biggest risk is the emergence of a more infectious and deadlier coronavirus variant.

Gopinath at the IMF urged vaccine manufacturers to support the expansion of vaccine production in developing countries.

Earlier this year, the IMF approved $650 billion worth of emergency currency reserves that have been distributed to countries around the world. In this latest report, it again called on wealthy countries to help ensure that these funds are used to benefit poor countries that have been struggling the most with the fallout of the virus.

“We’re witnessing what I call tragic reversals in development across many dimensions,” said David Malpass, the president of the World Bank. “Progress in reducing extreme poverty has been set back by years — for some, by a decade.”

ON ITS WAY
Future Gabriola Island EV ferry B.C. bound from Romanian shipyard


The sun is setting on the MV Quinsam's time in waters around Gabriola Island, with new hybrid-electric vessels set to replace the aging ship in 2022

. (Alex Rawnsley/NanaimoNewsNOW)

By NanaimoNewsNOW Staff

Oct 13, 2021 

NANAIMO — The last of BC Ferries’ new Island class vessels is on its way to local waters.

Temporarily dubbed ‘Island 6’, the ship left its Romanian shipyard on Monday, Oct. 11 and is expected to take upwards of two months to complete the cross-Atlantic trek.

The ferry, along with one of its twins, is set to replace the MV Quinsam on the Nanaimo Harbour to Gabriola Island route.

“Like the three Island Class ferries that came before it, approximately one-third of Island 6’s journey is expected to be completed by using battery power with the main engines stopped,” a release from BC Ferries read.

The hybrid-electric vessel is designed to be able to run in a full electric mode, once charging capabilities on shore are installed.

“Electric propulsion is quieter, smoother and more efficient compared to the traditional diesel propulsion of the vessels the Island Class will be replacing, and these ships will improve customer service by adding more capacity and frequency of service,” Capt. James Marshall, vice president of shipbuilding and innovation, said.

Island class vessels carry just under 50 vehicles, slightly less than the Quinsam, however the company plans to run two vessels on the route in 2022, effectively doubling capacity.

People can follow the ship’s progress to B.C. by clicking here.

The Gabriola-Nanaimo run is constantly plagued by sailing delays, largely due to accumulated time spent loading and unloading the ship.

Between June and August 2021, at least 50 service notices for sailing delays were posted on the run, with the route being an average of 28 minutes late.

Many times, the Quinsam fell so far behind its schedule, the company would cancel a round trip in order to resume normal operations.

A new schedule was implemented in September in a bid to stem the delays.

Steven Earle, chair of the Gabriola Island Ferry Advisory Committee, previously told NanaimoNewsNOW the solution is a lot more complicated than just adding sailings.

The first boat typically leaves Gabriola Island at 5:15 a.m. with crossings regularly until a final 11 p.m. departure from Nanaimo.

AB SOVERIGN WEATH FUND

'I'm going to lead differently here': Evan Siddall rocked the boat at CMHC, but looks to calm the waters at AIMCo

'You lead based on what the what the circumstances suggest'

Author of the article:Barbara Shecter
Publishing date:Oct 13, 2021 •

CMHC CEO Evan Siddall in 2015. 

PHOTO BY GALIT RODAN/BLOOMBERG FILES


Evan Siddall built a reputation as an outspoken and sometimes controversial figure during his seven-year tenure CEO at Canada Mortgage and Housing Corporation.

So when he arrived in Edmonton in July as the freshly appointed chief executive of Alberta Investment Management Corp., a traditionally quiet manager of pensions, endowments and government fund assets, that was being buffeted by some controversies of its own, he probably felt right at home.

AIMCo was working to steady its nearly $120-billion ship — and relationships with some 30 clients — after a $2.1 billon loss last year on a volatility strategy when markets were rocked by the declaration the global pandemic.

It was also locked in a public battle with Alberta Teachers’ Retirement Fund, which had been forced by legislation passed in 2019 to use AIMCo as its sole investment manager. AIMCo and ATRF initially failed to reach an agreement on the terms of their new arrangement, so these were imposed on them through a government order in January.

The asset manager was at the centre of a few political storms, too, the biggest brought about when Alberta Premier Jason Kenney mused that he might pull Alberta out of the Canada Pension Plan, putting the spotlight on AIMCo as the likely future manager of those funds.

Then last month, another Canadian pension giant, Caisse de depot et Placement du Quebec, thrust divestment — a sensitive issue in oil-rich Alberta — back into the spotlight with a declaration it would sell off all assets that produce crude oil products by the end of next year.

AIMCo picks former CMHC CEO Evan Siddall as leadership overhaul continues


In his first major interview since taking the helm at AIMCo, Siddall — who pledged to keep a lower profile in his new assignment — said he thinks he has helped smooth the waters so far.

For one thing, he says, his arrival helped AIMCo and Alberta Teachers’ Retirement Fund forge a new negotiated management agreement in September, just a few months after he arrived. He is quick to point out, though, that he doesn’t think this reflects poorly on previous management, particularly given that the relationship was akin to an “arranged marriage” that one side was clearly unhappy about.

“I did have the advantage of, if there was a pile of something people were standing in, they were overwhelmed by the stench of that I suppose, and I wasn’t,” Siddall said.

“Sometimes a good hockey team changes the coach and the team plays better; it has nothing to do with anything other than cosmetics but, yeah, that is part of the story for sure.”

But with much work underway at AIMCo, including completing the implementation of a series of recommendations to the board from outside experts to beef up risk management and make changes to the culture following last year’s volatility loss, there can be no promises of smooth sailing.

For one thing, AIMCo is unlikely to follow any sort of divestment strategy, preferring to invest in and capitalize on Alberta’s homegrown strength and expertise in energy throughout any transition to a lower carbon economy, Siddall said. That could raise questions about whether the Crown corporation is being directed by government, which has its own reasons for wanting a healthy oil and gas industry. But Siddall is quick to dispel this idea.

“I’ve had no conversation, not a single conversation with the government, where they instructed us as to how to position ourselves in the energy sector,” he said. “It’s an investment decision.”

There’s money to be made by those with long-term, patient capital (and) insight into the energy sector

Siddall said he believes “there’s money to be made” by those with “long-term, patient capital (and) insight into the energy sector” including cutting-edge clean technology. It is an echo of what AIMCo chair Mark Wiseman told the Post last year. Wiseman joined the Alberta pension manager’s board in July 2020 and encouraged Siddall to apply for the CEO job after Kevin Uebelein stepped down before the end of his employment contract this year.

“That’s AIMCo. If it’s anybody it’s AIMCo,” Siddall said. “We have a home-field advantage that we’re going to take advantage of and that, in my mind, does not include divestment.”

In spite of his strong views and his reputation, Siddall said he intends to work mostly behind the scenes, with public statements confined mainly to required appearances before a government standing committee.

“I’m going to lead differently here,” he said “You lead based on what the what the circumstances suggest.”

Still, a lower public profile doesn’t mean accepting the status quo.

Some legislation in Alberta over the past few years has aimed to extend the arms-length relationship between AIMCo and the provincial government, and Siddall — and Wiseman — are hopeful they can drive that wedge further to clarify for clients that AIMCo exists to make money for them and “not to be a tool of government.”

“I think the current government’s quite clear on that and that’s good, and the more we can clarify that the better,” Siddall said, though he declined to weigh in on what, if anything, he thinks the UCP will do.

My sincere answer is we don't talk about it (and) I don't want to talk to them about it. That’s a political question


“It’s their decision, not ours, and all we can do is tell them how we could be more independent and the sorts of things that they might consider,” he said. “So we’ve done that, and they will decide whatever they want decide.”

He also demurred when asked about the possibility of Albertans’ portion of the Canada Pension Plan being severed from the national pension scheme and brought under the AIMCo umbrella, something Alberta Premier Jason Kenny has touted and his United Conservative Party-led government is studying.

“My sincere answer is we don’t talk about it (and) I don’t want to talk to them about it,” said Siddall. “That’s a political question.”

However, he noted that AIMCo is proving it can handle more assets under management.

“Our job is to build an organization that can do what we’re asked to do, period,” he said, adding that the pension manager is successfully integrating the ATRF assets and additional assets of the Workers’ Compensation Board. It will soon be adding the investment assets of Alberta Health Services, with current assets under management rising to $153 billion from $118.6 billion at the end of last year.

Something like a CPP transfer would not happen overnight in any event, Siddall said, which would leave AIMCo plenty of time to complete its work on integration and risk management — if the government chooses to go that route.

Jim Keohane, seen pre-retirement, sees some “mania” in the markets, which leaves long-term investors with questions about where to put their money.

 PHOTO BY TYLER ANDERSON/NATIONAL POST FILES

In the meantime, he is getting to know the board of directors, about half of them in person. One such meeting was a two-hour conversation with Jim Keohane about how he ran the Healthcare of Ontario Pension Plan (HOOPP) for eight years as CEO before retiring last year.

In an interview last week, Keohane told the Financial Post that today’s markets resemble past bubbles, propped up by liquidity from policy and monetary interventions. He also sees elements of “mania” in the markets, leaving long-term institutional investors with few safe places to invest.

Siddall doesn’t disagree.

“It’s hard to make money,” he said, noting that AIMCo’s job is to satisfy its pension, endowment and government fund clients by beating benchmarks — or doing less badly in poor market conditions — as well as keeping ahead of inflation and managing interest rate risks.

“Asset prices where they are and so much cash flying around… both through central bank support and fiscal support, it’s just priced all assets ridiculously,” Siddall added.

Siddall said the key for investment professionals, including those at AIMCo, is to “keep some dry powder around for dips… You’ve got to just look for opportunities to make money for your clients.”

He leaves such matters primarily in the hands of his chief investment officer. For now, he says, the view is that inflation is transitory, though they are keeping a keen eye on that, and suggests that central bankers will begin to rein in quantitative easing.

“My goal (is) to set a strategy for the institution to make sure we’re in the right businesses, to make sure we’ve got the right capital and people behind those businesses, and that we have a decision-making function that is excellent,” he said. “And so we’re working on improving that.”

TIME TO FLATTEN DEFENSE HIERARCHY

Incoming Canadian Army commander under investigation for sexual misconduct

Lt.-Gen. Trevor Cadieu, who was to take command of the Canadian Army, is now under police investigation after allegations were raised about sexual misconduct, this newspaper has confirmed.

Author of the article: David Pugliese • Ottawa Citizen

Publishing date: Oct 13, 2021 •

File photo/ Lt.-Gen. Trevor Cadieu, pictured in 2017, is under police investigation, Postmedia has confirmed. 

PHOTO BY ED KAISER /Postmedia

Lt.-Gen. Trevor Cadieu, who was to take command of the Canadian Army, is now under police investigation after allegations were raised about sexual misconduct, this newspaper has confirmed.

Cadieu has denied any wrongdoing.

The Canadian Forces National Investigation Service has taken a statement from one former military member, a woman, about the allegations against Cadieu, and other statements are in the process of being collected. It is unclear when the investigation will be finished.

“The allegations are false, but they must be investigated thoroughly to expose the truth,” Cadieu told this newspaper. “I believe that all complaints should be investigated professionally, regardless of the rank of the accused. I have already voluntarily provided information to the National Investigative Service, and I continue to await additional opportunities to cooperate fully with their investigation.”

Cadieu said he had provided detailed information and correspondence to investigators, and “I have taken other measures to prove my truthfulness and innocence.”

Cadieu was recently promoted to lieutenant general and slated to take over command of the army. A change of command ceremony that was to have taken place in early September was cancelled at the last minute, shortly after Acting Chief of the Defence Staff Gen. Wayne Eyre was informed about the CFNIS investigation.

“I know that these false claims will, as intended, create doubts about my ability to lead in this environment,” Cadieu told this newspaper. “While I have devoted every day of my career to making fellow members feel respected and included, Canadian Army soldiers deserve a leader who is unencumbered by allegations and can lead at this important time when culture change, addressing systemic misconduct and preparing tactical teams for operations must remain the priority effort.”

Cadieu said he had asked Eyre to consider selecting another leader for that position as soon as was practical.

National Defence noted in a statement to this newspaper that Eyre was notified on Sept. 5 that the CFNIS investigation had opened an investigation into Cadieu regarding “historical allegations.”

As a result, the change of command ceremony was postponed. “The postponement of the ceremony is not an indictment of LGen Cadieu,” National Defence noted in its statement. “However, in light of the ongoing investigation, a decision was made to allow the justice system to pursue the matter in accordance with the rule of law.”

Over the last 10 months, the Canadian military has been rocked with allegations of sexual misconduct by senior leaders.

Retired chief of the defence staff Gen. Jon Vance faced a number of sexual misconduct allegations and in July was charged with one count of obstruction of justice.

In August, Maj.-Gen. Dany Fortin was charged with sexual assault.

Military police are still investigating Vice Admiral Haydn Edmundson after a former member of the navy alleged she was sexually assaulted.

Maj.-Gen. Peter Dawe was put on paid leave in early May after it was revealed he wrote a positive character reference to try to influence the sentencing of an officer convicted of sexual assault.

The senior military leadership quietly brought Dawe back to defence headquarters in September to work on sexual misconduct review files. But defence sources, who questioned the ethics of putting Dawe in such a new role, tipped off this newspaper. The resulting anger from sexual assault victims forced the Canadian Forces to temporarily remove Dawe from his new job and raised new questions about whether the senior leadership was serious about dealing with sexual misconduct.

The Liberal government has not yet decided what to do with Adm. Art McDonald, who is still technically chief of the defence staff, although he only served in that job for a couple of weeks. McDonald temporarily stepped aside Feb. 25 after military police launched an investigation into allegations of sexual misconduct.

In August, police stated their investigation did not find evidence to support laying charges. Shortly after — in what many observers see as a major public-relations gaffe — McDonald’s lawyers released a statement noting the officer was coming back to his job even as the federal government pointed out it still hadn’t decided his future.

The Liberal government responded by putting McDonald on leave and promoting Eyre to full general. McDonald has claimed that he has the “moral authority” to lead the military.

Eyre has received criticism that he represents the status quo of an organization that has fought against real change when it comes to dealing with sexual misconduct. Military personnel took to social media to challenge Eyre for refusing to punish Dawe as well as for his decision to welcome back Vice Adm. Craig Baines as head of the navy. Baines came under fire after going golfing with Vance in a “public display of support” for the retired general.

Eyre has claimed there is no room for sexual misconduct in the military. But his critics say his reassurances are starting to ring hollow, particularly in the wake of the decision not to discipline any of the navy officers who joked about kinky sex and bondage during an official conference call. An investigation, released in September, confirmed that such comments were made and that they “demonstrated the sexualized culture that the (navy) must continue to confront.” No explanation, however, was provided on the decision not to discipline any of those involved. Earlier this year, though, parliamentary committees investigating sexual misconduct in the military heard about a system where complaints by victims were ignored and the perpetrators were protected.

#VOTENO
Opinion: The case against Premier Kenney’s equalization referendum

Author of the article: Trevor Tombe
Publishing date: Oct 13, 2021 • 

  

Trevor Tombe writes that voting No to the equalization question on Oct. 18 is important; to do otherwise risks long-term damage to our federation, to our politics and to the province, while being a costly distraction from Alberta's real and growing challenges.

Proposals to amend the Constitution are very serious matters. They are at the heart of what kind of country we want to live in. And for the first time in nearly 30 years — when a national vote on the Charlottetown Accord was held — Albertans will vote on an important constitutional question: do we support removing the very principle of equalization payments from Canada’s Constitution?

That principle, enshrined in Section 36(2) of the Constitution , is simple: the Government of Canada is “committed to the principle of making equalization payments to ensure that provincial governments have sufficient revenues to provide reasonably comparable levels of public services at reasonably comparable levels of taxation.”

This means ensuring all Canadians — regardless of which province they live in — can access reasonable public services without having to bear abnormally high tax rates to fund them.

Premier Peter Lougheed called this a crucial aspect of Confederation . Today, Premier Jason Kenney is asking you to reject it.

Canada’s equalization program is not perfect, of course. No policy is. But its goal — its very principle — is worth defending. It is not only fair, but it also benefits Alberta.

It’s true that Alberta doesn’t directly benefit from equalization payments, and hasn’t since 1964. But this isn’t because we are victims. It’s because Alberta is a high-income province.

Our economy is stronger , our average incomes are higher , and our government’s ability to raise revenues is above any other province in Canada. Despite years of struggle since oil prices dropped in late 2014, this remains true today. If Alberta had P.E.I.’s personal income tax rates, for example, we could fund our entire health-care system on that alone. But P.E.I. falls well short and needs another 10 point sales tax on top of that to fund health care. Without equalization, P.E.I. would need a sales rate of nearly 25 per cent to make up for it. Alternatively, it could double its already high income taxes. Alberta is luckily spared such difficult circumstances.

We are not and should not be an equalization-receiving province.

But Alberta does indirectly benefit from equalization. If you retire in Nova Scotia, for example, you rely on its health care. When a Canadian moves to Alberta, as nearly 2,000 people per week now do , they bring their education with them. We benefit from quality public services elsewhere in Canada. And were it not for equalization, pressure for federal delivery of health and education would mount. If you favour provincial autonomy in Canada, then a program like equalization makes this possible.

It’s precisely because the very principle of equalization payments is sound that proponents want you to ignore the question and base your vote on a long list of other grievances from carbon taxes to federal spending decisions to partisan dislike of a certain federal politician. A Yes vote, the argument goes, creates “leverage” in future negotiations with Ottawa about all these unrelated issues. This logic is flawed, for at least two reasons.

First, in an important ruling, the Supreme Court of Canada has wisely stated that “(a) referendum result, if it is to be taken as an expression of the democratic will, must be free of ambiguity both in terms of the question asked and in terms of the support it achieves.” If the vote means something other than the question being asked, its result will mean very little and achieve even less. If Premier Kenney wanted to talk about something other than removing Section 36(2), then he asked the wrong question.

Second, no province can amend the Constitution on its own. A referendum vote provides no power to Alberta, legal or otherwise, that we don’t already have. Our premier can — in multiple venues — propose, negotiate and engage thoughtfully any time he wants. Past leaders have done so with great success before. Recent reforms to health and social transfers, to stabilization payments and to the equalization program itself have improved federal transfers significantly. In fact, federal transfers to provincial governments are structurally more evenly distributed than at any point in Canadian history outside of the Second World War .

Of course, there are genuine frustrations in Alberta. Some concern federal policy. This is inevitable in a large and diverse country like Canada. But we don’t need a referendum to improve policy. We need elected representatives willing to roll up their sleeves and do the hard work on our behalf.

Many more frustrations, though, concern provincial policy. Our economy has disappointed, the government’s pandemic handling could have been better (especially recently), and Alberta’s budget is a complete mess. These concerns are very real. But none have anything to do with equalization.

Solutions require action at home and a government willing to focus on them. Inflaming tensions, shifting blame and polarizing issues have not served Alberta well. This referendum offers more of the same.

At worst, it risks long-term damage to our federation, to our politics, to the province. And at best, it’s a costly distraction from Alberta’s real and growing challenges. Vote No to the equalization question on Oct. 18.

Trevor Tombe is a professor of economics at the University of Calgary and research fellow at the School of Public Policy.

THUMBNAIL PHOTO  Gavin Young/Postmedia

THE GANG THAT COULDN'T SHOOT STRAIGHT
Some Albertans experience glitch in COVID-19 vaccine record QR code app

By Emily Mertz Global News
Posted October 13, 2021 

WATCH
Alberta Premier Jason Kenney announces the launch of a government-supported verification app to check proof of COVID-19 vaccination with a QR code.

Some Albertans who have received a third dose — or booster — of the COVID-19 vaccine reported Tuesday the new app to scan their immunization record in QR code form wasn’t working.

READ MORE: Alberta launches app to read COVID-19 vaccination QR code

For someone who’s had three doses — receiving their third within the last two weeks — the Android version of the new AB Covid Records Verifier scans successfully, however on an Apple device, it can show up as an “X”.

An Alberta Health spokesperson confirmed to Global News Wednesday that the issue was only affecting the Apple version of the app. Alberta Health expects “the app to update very soon with this issue resolved.”


WATCH Albertans try new proof-of-vaccine QR code scanner app

“In the meantime, Albertans can continue to show their paper and electronic records when accessing businesses and venues participating in the Restrictions Exemption Program, including the ones obtained through Alberta.ca/CovidRecords, MyHealth Records or the paper records obtained at their vaccination appointment,” the statement read.

“The transition to vaccine records with QR codes as the only valid proof of vaccination takes effect on Nov. 15. This transition period allows Alberta Health to address any technical issues as they arise.”

READ MORE: Premier Kenney says Alberta will keep COVID-19 vaccine passport into at least early 2022

The AB Covid Records Verifier quietly made an appearance on the Google Play and Apple App store Tuesday morning before the Alberta government introduced it at a news conference that afternoon.

Daily COVID-19 numbers

On Wednesday, Alberta Health confirmed 652 new cases of COVID-19 out of about 8,620 tests.

There were 38 new deaths related to COVID-19 reported Wednesday. While they occurred over the last six days, they were reported to Alberta Health in the last 24 hours, Dr. Deena Hinshaw explained.

The last time that many deaths were reported in one day was on Jan. 12.

Alberta’s death toll from COVID-19 now stands at 2,901.

ANWSERS THE QUESTION HOW MANY ALBERTANS HAVE YOU KILLED KENNEY

As of Wednesday, there were 1,027 people in hospital with COVID-19, 236 of whom were being treated in ICU.

“Of the 236 in ICU, 91 per cent are unvaccinated or partially vaccinated,” Hinshaw said.

There are currently 14,218 active cases of COVID-19 across the province.

“I’d like to remind everyone that we all have the ability to take small actions every day that will benefit our communities,” Alberta’s chief medical officer of health added.

“The most important thing we can do is to get vaccinated, and stay home if we’re feeling even a little bit unwell.

“Vaccines are safe, effective and save lives,” Hinshaw said.

“If you have not yet gotten your first or second dose, please do so right away. Book your shot today at http://alberta.ca/vaccine.”

READ THE REST OF THE ARTICLE HERE 

Some Albertans experience glitch in COVID-19 vaccine record QR code app | Globalnews.ca

URBAN NATIVES DISCRIMINATED AGAINST

'I don't belong here': Homeless Albertans describe life in Wetaskiwin encampment

WETASKIWIN, Alta. — Alvin Johnson holds on to a tarp flying in the wind as his partner tries to secure the corners of their tent with shards of wood.

© Provided by The Canadian Press

His weathered hands wipe tears from his eyes as he talks about living in a homeless encampment on the edge of Wetaskiwin, southeast of Edmonton.

"I wish they would help us," said Johnson. "I don't belong here."

The City of Wetaskiwin moved the camp to a city-owned plot of land after shutting down the community's homeless shelter in August.

Johnson, 61, used to live in nearby Maskwacis, which serves reserves from four Cree First Nations. The City of Wetaskiwin and band leaders have failed to help him, he said.

"It’s like the reserve — you have to take care of yourself," said Johnson about living at the camp. "When we step out of the boundary, we're on our own."

Fights break out in the "tent city," he said, but people try and look out for one another. His biggest worry is his chosen family getting hurt.

In between long pauses, he talked about traumas he's faced, including the death of a brother and being beaten with a hammer. He doesn't say whether the attack happened at the camp.

He joins upwards of 60 other people in the open field fighting to stay warm as winter nears.

The frigid air creeps into tattered tents at night and people wake up to frost in the morning. Ashes sit at the bottom of fire pits. On a chilly day in October, there's no more wood to start a fire.

"I can just see people declining, deteriorating and mental health is getting worse and worse," said Kristen Anderson, who lives in one of the tents.

Anderson, 41, said he started living rough in 2019 after his parents died, his welding company went under and he weathered a divorce. He turned to alcohol to cope, which he said only made things worse.

A log holds up his tent. There are soap bars at the entrance to deter mice from burrowing inside. Anderson said he has items to protect himself hidden among his belongings but didn't say what they were.

"Within the last week, it's been getting a lot worse. I find it's the predator and the prey. There are people out here preying on the weak," he said. "I hear women cry themselves to sleep at night."

During the day, most people leave the camp to roam the city, panhandle or seek social supports. Some medical staff and community members visit the site to provide aid.

It's relatively calm until the sun goes down and alcohol and drugs "add fuel to the fire," said Anderson.

Another woman at the camp, who declined to give her name, said some community members drive by and hurl insults and racial slurs at the people living there.

"I would choose not to be here," she said. "But I have no choice."

This report by The Canadian Press was first published Oct. 13, 2021.

Alanna Smith, The Canadian Press

B.C. civil rights group sues federal government over solitary confinement

VANCOUVER — A civil liberties group has filed a lawsuit against the federal government over solitary confinement, two years after the top courts in British Columbia and Ontarioruled there has been a violation of prisoners' constitutional rights.

© Provided by The Canadian Press

The B.C. Civil Liberties Association alleges in a notice of civil claim filed in British Columbia Supreme Court that the conditions of solitary confinement infringe on federal inmates' charter rights, arguing they are exposed to physical, psychological, social and spiritual trauma.

Grace Pastine, the association's litigation director, said thousands of inmates are still being isolated in their cells for 22 hours a day or more with little access to human contact, despite promised reforms.

"Wardens at federal prisons continue to isolate people for days, weeks and months at a time as a routine form of prison management," she told a news conference Wednesday.

Long periods of isolation have a disproportionate impact on Indigenous and racialized people or those with mental disabilities, says the notice of claim, which names the Attorney General of Canada as a defendant.

The lawsuit alleges that inmates who experience extended use of restrictive movement routines and lockdowns "are observed to suffer from a wide variety of adverse effects" including anxiety, hallucinations, panic, paranoia, self-harm, social withdrawal, and suicidal thoughts and behaviours.

A statement of defence has not been filed with the court.

A spokesman for Justice Canada said the Correctional Service of Canada would respond to a request for comment on the lawsuit. Pierre Deveau, a spokesman for the Correctional Service, said in a prepared statement that the agency could not comment on any specific allegations.

None of the allegations made in the notice of civil claim have been tested in court.

The Correctional Service launched so-called structured intervention units at 15 prisons across the country in November 2019, months after the British Columbia Court of Appeal and the Ontario Court of Appeal ruled Canada’s administrative segregation regime violated inmates' charter rights.

"Structural intervention units are part of a historic transformation of the federal correctional system that is fundamentally different from the previous model," Deveau said in the statement.

However, senior counsel Megan Tweedie of the civil liberties association said in an interview that the units that are "essentially solitary confinement by another name" are not the focus of the lawsuit.

"Our urgent human rights concern right now is lockdowns and restrictive movement routines because thousands of prisoners are being affected by this," Tweedie said, adding those strategies can apply to an entire institution as part of a "mass solitary confinement."

Efforts have been made to deal with the problem through internal grievance processes without any overall change for inmates, she said.

"Nothing's happening," she added. "So we're stepping in to fight that fight for them."

This report by The Canadian Press was first published Oct. 13, 2021.

Camille Bains, The Canadian Press

BEST TO REMOVE FOOT FROM MOUTH BEFORE SHOOTING IT 
France's Le Pen says she will take down wind turbines if she is elected

PARIS (Reuters) - French far-right presidential candidate Marine Le Pen said that if she is elected president next year she will end all subsidies for renewable energy and will take down France's wind turbines.

© Reuters/SARAH MEYSSONNIER FILE PHOTO: 

French far right leader Marine Le Pen reacts to the results of regional election, in Nanterre

Le Pen, who will be the candidate of the Rassemblement National party in the April vote, made it to the second round of the 2017 election, and is expected to do so again, although some recent polls have shown that right-wing talk-show star Eric Zemmour could best her if he decides to run.

"Wind and solar, these energies are not renewable, they are intermittent. If I am elected, I will put a stop to all construction of new wind parks and I will launch a big project to dismantle them," she said on RTL radio.

She added that she would scrap the subsidies for wind and solar, which she said added up to six or seven billion euros per year and put a heavy burden on consumers' power bills.

Le Pen also said that she would provide strong support for France's nuclear industry by allowing the construction of several new nuclear reactors, fund a major upgrade of France's existing fleet and would back the construction of small modular reactors as proposed by President Emmanuel Macron.

In a 2030 roadmap for the French economy presented this week, Macron proposed billions of euros of support for electric vehicles, the nuclear industry and green hydrogen - produced with nuclear - but made little mention of renewable energy.

France produces about 75% of its power in nuclear plants, which means its electricity output has among the lowest carbon emissions per capita of any developed country. However, it also lags far behind Germany and other European nations in wind and solar investment.

There is an active anti-wind movement, which is supported by the far right and centre right, notably by Xavier Bertrand, the leading conservative contender in the presidential vote.

(Reporting by Geert De Clercq; Editing by Peter Graff)