Canadian Personal Finance Blog

Archive for July 8th, 2009

Pope Likes Profits but not At All Costs

Pope Benedict XVI made an interesting statement Tuesday:

“Profit is useful if it serves as a means toward an end,” he wrote. “Once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty.”

Good to hear his holiness not denounce profits, and stating the obvious that simply getting profits at all costs might not be the best thing for everyone, is still a good thing to point out.  We have lived through decades of “ends justifies the means” profit taking by many companies, and countries and at the end of it all, most of us get screwed by all of this money grubbing.

When is it enough money? That’s an individual decision, but it seems in large firms, the answer is, “Never enough money!”, unfortunately.

Individual Bankruptcies up 31% Year over Year

In a less happy bit of data the Office of the Superintendent of Bankruptcy Canada published data showing personal bankruptcies are up a whopping 31% from last year at this time. The number quoted for personal bankruptcy is big and worrisome too, given the Canadian bankruptcy laws (check out the web site for exact definitions and helpful hints on what other ways you can deal with crushing debt loads).

Rude Dude Canada’s Top Financial Blogger?

It seems iBankCoin Blog is the top Canadian Financial Blogger (by the Globe and Mail at least). His post yesterday about How about a F***ing Stick in Your Eye seems to be standard for his site, so I guess Canadians enjoy a bit of ribald humor and obscenities when it comes to their financial blogs.  I don’t know, it’s pretty easy to write obscenity laced copy, especially given the lousy hand I have been dealt lately, but it’s just too easy.

Way to go, and good luck to all the bloggers.

Happy Birthday Michael James!

Go on over to Michael James on Money and wish him a Happy Birthday!