Deficit Budget? Lump of Coal for Finance Minister
Deficit? Booo!
Yes, Jim Flaherty announced the likelihood of a budget deficit in 2009 for the first time (a planned one at least) in a while.
“There tend to be delays in infrastructure projects and, given the seriousness of the economic situation, it’s important that shovels get in the ground, that repairs on buildings start as quickly as possible,” Flaherty told CBC News.
He also warned of much higher unemployment as well. The year 2009 is shaping up to be a very “interesting” year economically.
The Day the TSX Died
Unbelievable but, the TSX did not open yesterday due to a network glitch? Amazing. An allegedly world class stock exchange is crippled by a network problem, in the middle of the Financial Apocalypse?
“Because the data feeds provide information to investors to guide their trading decisions, trading was halted to ensure market integrity,” the TSX said in a statement.
Integrity may have been saved, reputation on the other hand, who knows?
Are Banks a Bargain?
For those who remember, I still hold banks in my portfolio, mostly because I view them as a good Dividend providing investment.
BMO
Bank of Montreal had a new stock offering and thus added more shares and lowered their stock value thanks to this, which doesn’t make me very happy, but on the converse side of things, thanks to this my DRiP(Dividend ReInvestment Plan) will be buying more this quarter for this stock.
TD
Toronto Dominion continues to get hammered as part of the Bank Backlash with all the shenanigans that have gone on in the U.S. (and around the world).
Again, this means my dividend reinvestment program will be buying more shares, so that is good.
I am holding these stocks as a long term investment vehicle, which creates dividend income as well, and they continue to be good for that.
Advent Financial Calendar Box Day 19
Opening this box, you find a card, a Library Card. The Library is our friend, because we can do our Personal Finance research without having to buy books to do it. In Ottawa you can get books on CD, DVDs and a lot of on line information as well. Research is a cornerstone of your Personal Finance Journey, the more you read, the more you learn and the more you can apply to your financial planning.
If you are planning for next year (as you should in Advent), visit your Library and use your Library card.
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