The Bank of Canada’s opinion is that Brexit is going to hurt the Canadian Economy (and its possible recovery) this year, which isn’t really news, but it is an interesting observation. This and a bunch of other information was reported by the Bank of Canada, when they reported they will not be doing anything to their key overnight rate. The Canadian economy continues to be in a very fragile state, and raising interest rates is unnecessary (or ill-advised, depending on how you read the report) at the moment. There exact statement was:

Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway in Canada’s economy proceeds. The fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty.

Mailbox in Canada

Open For Delivery (for now)

We do seem to be living in very uncertain times.

So far we have no lock out or Postal Strike, while they keep talking,  but should you really be waiting for the fat to hit the fire? Remember to sign up for Direct Deposit with the Government (although allegedly those cheques will keep going?). Get your bills delivered by E-mail as well (most of your major bills will do that). For your packages, well that might be an issue.

As a practicing Anglican, I was appalled to see that when a motion at Synod (think of Church Parliament) is either defeated or passed by a single vote, there is not an automatic recount. While Anglicans are nice folk (in general), we do seem to have some very odd ways of dealing with issues.

What will Oktoberfest do now? Evidently Polka King Walter Ostanek won a lottery grand prize of $1M, who will be playing Roll out the Barrel or Too Fat Polka in Kitchener in October? Someone call Uncle Franz! Ach, du lieber Gott in Himmel !

RESP Questrade Banner

My Writings for Week Ending July 15th

I am slowly getting through my archive of nearly started articles (still over 220) and My Four Best Investments was written on the way back from my daughter’s graduation from Trent University. This isn’t meant as a jab at those who choose not to subsidize their kids post-secondary education, just that if I hadn’t invested in my kids’ education, I most likely would have blown it on something else.

0% Financing On Cars, That’s Good, Right?

Preet has been busy this week and he has a new white board session outlining why 0% financing on your car might not be your best deal. I buy used cars, and you never get 0% financing on those.

More Money Talk for the Week

The new Phoenix payroll system continues to have its challenges with a Single Mom going without pay for more than 2 months (according to CBC). Teething pains are a problem with all systems, but this is getting quite serious.

Marie from Boomer and Echo brings us 5 Rules Of Thumb That Need An Update, and that is important since a lot of the older ideas about money really need to be modernized (or adjusted). A lot of folks get hung up on Net worth but Mark from My Own Advisor warns Stop obsessing over net worth, you are worth a lot (even if it isn’t monetary).

I really hate bank fees and Barry from Money We Have wants to help with a very irritating fee taking your money out of a machine! In How to avoid ATM fees he wants to help not pay that fee. A way to save taxes is trying the Smith Manoeuvre (which I do not recommend) but Frugal Trader brings us Smith Manoeuvre Questions – Capitalizing the Interest and Tax Deductibility. Speaking of taxes the Canadian Couch Potato brings us the highly anticipated Foreign Withholding Taxes Revisited, for those who invest in foreign countries.

Do you have Home-Buying Dreams ? Michael James tries to explain that the old models of buying a home may not work in today’s economic world (and also given the ludicrously over-priced houses in some cities in Canada).

CRM2 Today

Preet returns to explain to Canadian investors why they will be seeing two new mandatory reports (one on COST and one on PERFORMANCE) from their financial institutions starting July 15th, 2016.

2016 Random Thoughts

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{ 4 comments… add one }
  • My Own Advisor July 18, 2016, 1:26 PM

    I think CRM2 would be? more successful if they didn’t use an acronym to describe it.

    Plain language please 🙂

    Thanks for the mention.

  • RICARDO July 15, 2016, 9:52 AM

    I would not contest Preet’s figure on the 0% car loan scenario. However I would be surprised that any car dealership would offer a 20% discount for cash ($5K on a $25K car). If you can find it take it.
    I just bought what my significant other calls my midlife crisis at the 0% financing.I had the cash to buy it by cashing out my stocks and paying the car. However by keeping my portfolio intact it will actually pay 6 of my monthly payments over the three year loan period. Mind you that the dividends will be taxable so there is a slight variation in there. Never the less I find myself getting 16.5% discount by keeping my portfolio intact.
    So, far be it for me to find fault with Preet’s figures, I am quite happy with a 16.5% discount in the real world as compared to the proposed 20% discount in the video.


    P.S. It was a real compliment when my S.O said it was a mid life crisis seeing that I an 65 yrs of wisdom at present. Hoping to live that long life and enjoy my midlife crisis to the fullest.

  • Michael James July 15, 2016, 9:31 AM

    CRM2 talk seems to be all the rage lately. We’ll see if it makes much difference. Thanks for the mention.

    • bigcajunman July 15, 2016, 9:43 AM

      My guess is Meh… more paperwork that folks will ignore, but at least they are being warned! 😥


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