Ontario Elections voters have the legal right to decline their ballot and have it counted separately from a spoiled ballot.

In a statement released on Wednesday, Democracy Watch asked Elections Ontario — by threat of court action — to advertise the fact that voters have the legal right under section 53 of the Elections Act to decline their ballot (i.e. vote “none of the above”) and have it counted separately from a spoiled ballot.

[Section] 53. An elector who has received a ballot and returns it to the deputy returning officer declining to vote, forfeits the right to vote and the deputy returning officer shall immediately write the word “declined” upon the back of the ballot and preserve it to be returned to the returning officer and shall cause an entry to be made in the poll record that the elector declined to vote.
R.S.O. 1990, c. E.6, s. 53.”

In an interview with Yahoo Canada News, Democracy Watch's Duff Conacher said that if Elections Ontario did advertise that option — as part of their outreach materials — voter turnout would indeed increase.

"There are some people who don't support any party that has a candidate in their riding or do not support any of the parties' platforms," he said.

"They may go and spoil their ballot but when you spoil your ballot nobody knows whether you're stupid or you're doing it intentionally. And that's why you have a right to decline your ballot...so you can go and vote none of the above."

[ More Ontario election coverage: First attack ads largely miss the mark: expert ]

In the future, Conacher would like to see new regulations so that ballots actually have a line that explicitly says "None of the Above" and space for voters to explain their reason for selecting that option.

"I think a lot of them would say 'don't like the voting system' or 'can't be held accountable for broken promises,'" Conacher said.

"Why not track that if you really want to know why people aren't voting for any one party?"

For their part, Elections Ontario says that their online guide and a poster of voters rights — which will be placed at every polling location — include "mentions" about the right to decline. They also note, however, that increasing voter turnout isn't necessarily just their responsibility.

"Political parties, candidates, interest groups, media and the voters themselves all have a role to play in increasing participation in our provincial elections," Andrew Willis, a communications coordinator for Elections Ontario, said in an email to Yahoo.

"We are a non-partisan agency and as such, our role is not to get individuals to vote. Rather, we facilitate the vote – and, if one chooses, the right not to vote."

What do you think? Would a 'none of the above' option entice more Ontarians -- and more Canadians -- to vote in elections?

Let us know your thoughts in the comment section below.

https://ca.news.yahoo.com/blogs/canada-politics/ontario-voters-vote-count-choice-none-above-162236628.html

(Photo courtesy the Canadian Press)

A Summer Full Of Gains Followed By A Nasty Correction?

In an environment where equity and credit markets just won’t quit, Bank of America Merrill Lynch’s crystal ball has some good news and some bad news for investors. We’ll be kind and start with the good news.

Those two markets are likely bound for a summer of gains — verging on “irrational exuberance” — with all of the conditions aligning for a melt-up, the investment bank’s researchers predict. For one, measures of value at risk are low, suggesting that a build-up of short positions may get squeezed out of the market, perpetuating gains. In a note circulated Thursday, researchers led by Michael Hartnett write:

“According to [Bank of America Merrill Lynch] Hedge Fund Monitor speculators have recently sold SPX to a net short position; Russell 2000 shorts are the highest they have been in 2-years, while Nasdaq longs are at a 1-year low.”

The S&P 500 index SPX +0.54% is up 3.6% so far this year, while the Nasdaq Composite COMP +0.54% has gained 1.4%. The Russell 200 index  RUT +0.30% is down 2.1%. The Barclays U.S. credit index, tracked by the iShares Credit Bond ETF CFT 0.00%, has gained 5.7% year to date.

Other conditions are likely friendly for investors looking to continue piling into these markets:

“Cash is high: Our May Fund Manager Survey revealed 5% cash levels, a 2-year high, and well above the normal 3.5-4.5% range.

“Volatility is dead: This week the VIX VIX -0.94% index closed at 11.36, its second lowest close since February 2007.

“Liquidity is high: as politicians struggle with structurally high unemployment and low income growth, the pressure stays on central banks to reflate, with the unintended consequence of ‘one way’ market trends.”

So the Federal Reserve will keep its key rate projections benign, and the European Central Bank may even take easing measures next week. That will cushion markets from the volatility associated with improving economic data, which may otherwise lead to market fears about policy normalization. In such an environment, assets in emerging markets and struggling European nations are likely to continue performing. Strong cyclical stocks and U.S. tech stocks are also a good bet, the strategists say.

But nothing lasts forever, including this summer of market love. Sooner or later a turning point will be hit, the Merrill researchers say:

“At some point the capitulation into Treasurys will be completed and thereafter bond volatility (and thus equity volatility) will become increasingly vulnerable to events that question the assumption of [zero interest-rate policy] to infinity. We stick with the view that a summer melt-up would likely be followed by a nasty correction in the autumn. But short-term capitulation into asset markets remains a likely scenario.”

Other strategists sounded a similar note of caution on the horizon, but no immediate cause for alarm. Here’s Sam Stovall, equity strategist at S&P Capital IQ, in a Wednesday note about the stock market:

“As this bull market marches higher, one can’t help but wonder if the abnormally low VIX is reminiscent of an excessively low tide that typically precedes a tsunami. In all, while uncertainties caution against excessive exposure, we will let the trend remain our friend.”

But don’t forget that just as many investors take all of these signals as a warning that we’re on a verge of a major market move. John Nyaradi of MarketWatch’s Trading Deck rounds up this take