Canadian Personal Finance Blog

Archive for October 31st, 2007

Runners World

My daughter ran in a 10 Km race on Sunday, and I was very impressed with her ability to stick with it and work hard and get a very good result. I never had the “intestinal fortitude” to run (I get bored, sore and I stop), and that kind of “drive” is important in Life (and can be applied to Personal Financial Planning easily). An ability to deal with a short term pain for a long term gain is what runners are all about.

More interestingly was the technology around the race, which was very unobtrusive but gave amazing results. Each runner had a radio transponder ankle bracelet, so that their “time” was very real, since it started when they crossed the start line and stopped after the crossed the finish line (given the number of people starting in MASSIVE races like the Boston Marathon, I now understand better how they can get such clear times).

What was MORE amazing was the web site that the Running Community in Ontario (or is it Canada) has where all I had to do to find my daughter’s results was, open the page type in her name and the results appeared on line right there. Now that is a good use of technology.

I wish financial tools on line and on computers were that easy to use. Some are relatively straight forward like the Bank Web Sites, Quicken and Microsoft Money, but end up becoming very cumbersome, because they are trying to attract too broad a customer base (i.e. be all things to all customers). Something a little simpler might be what is needed?

I was impressed with this whole running thing.

Canadian GDP Up in August

The GDP is up again for August, with an increase of 0.2% which is small but at least not negative.

Retail and Mines and Petroleum showed the biggest gains overall, but another up month for the GDP is a good thing:

In August, economic activity increased 0.2%, its average pace since the beginning of 2007. Increases in retail trade and oil extraction propelled the growth, while a decline in utilities dampened it. Both the goods- and services-producing industries advanced. Gains were also registered in construction, forestry, mining excluding oil and gas, and wholesale trade. In addition, the accommodation and food services, and financial sectors moved ahead. Conversely, utilities retreated and manufacturing stood still.

By industry you can see where money is being spent and money is being made, no surprise that Minerals and Petroleum are strong here. Canada is now the Natural Resource house for the Americas, or one of them. Interesting, because most governments have tried to NOT be labeled that way, and now Canada seems to be happy with this label.