Fathers Day, Trump Housing Bubble, and #MoneyTalk

Hope you realize that Sunday is Father’s Day, formerly, the year when the most collect (i.e. reversed charges) phone calls happened (I bet there are folks who are going to have to Google what that means). As I have said, all Dad’s want is to know you are OK. As long as your Mother knows everything, Dad just wants to know you are OK.

Stats Canada published a neat survey about the Diversity of young adults living with their parents (speaking of Father’s Day), which highlights the number of young folk still living with their parents. The telling statistic that I read in the report was:

Of the 4.3 million young adults aged 20 to 29 in 2011, 42% (or 1.8 million) lived with their parents. This compared with 27% in 1981.

That is a lot of folks still living at home. Some financial folks are saying it is a symptom of the problems with the housing bubbles in major cities, I don’t think I agree. I have stated before that young folk should not aspire to live at their parents’ lifestyle when they first move away from home, but that seems to have fallen on deaf ears.

Given the rhetoric coming out of the United States about whether Mr. Trump gets elected, remember that Canada welcomes everyone (however leave your guns down south). My guess is that this could be like the Draft Dodgers that moved to Toronto in the mid-60’s, and help the Canadian economy greatly. I guess another interesting question is if there was a sudden influx of “Yankee Dollars” would this cause even more inflation of the housing bubbles in Toronto and Vancouver (likely places for our American cousins to move)? A ludicrously over-priced condo in Toronto might seem cheap, if you got a 25% discount due to a low Canadian Dollar.

My Writings for Week Ending June 17th

Not much writing this week, busy time of the year, and after watching the Last Week Tonight Video, I am starting to wonder why I write.

Stealing an idea from Mr. Oliver, I wrote No Good News Has Been Delivered Using Excel, now don’t take this as me dumping on Excel, it is an exceptional tool, which anybody doing anything financial should be proficient in using the tool. My commentary is based on the fact that if someone sends you an Excel spreadsheet, the news in it cannot be made to look good.

Video of the Week

Normally I include a video at the end of this article, but John Oliver has (in 20 minutes) summed up pretty much everything I have ranted about for the past 11 years, so have a watch of this, but keep reading my stuff too

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This week in Ottawa, a very large sinkhole opened on Rideau Street, and there were conflicting stories about whether it was a new Gateway to Hell, or whether it was simply the exposure of an existing personal gateway to hell. Either way, it just goes to show that in the Nation’s Capital when we make a hole, we really make a hole.

Ottawa Sinkhole

Ottawa SinkHole

I was downtown on Thursday for meetings, and while the downtown is a bit of a mess, all I could think was that I wished I was either in the Concrete, or Concrete Delivery business, as the entire downtown seems to be littered with Cement Delivery trucks (to fill the hole). Ottawa does seem to be prone to sinkholes, as we have had more than our share over the past while.

The Bank of Canada thinks the economy is unchanged, as it announced the Financial System Review this week, however, three risks were noted:

The Bank continues to highlight two vulnerabilities related to Canadian households: the elevated level of household indebtedness and imbalances in some regional housing markets. A third vulnerability identified is the fragility of fixed-income market liquidity.

This translates to continued big debt and ludicrous house prices in Vancouver and Toronto (and a few other places) are worrying the Bank. A major financial event (say like a recession) might cause some big issues in the current economy.

My Writings for Week Ending June 10th

I have written about how I am an attractive bag of medical conditions, but after my latest yearly check up I came up with the question What Would You Pay $213.52 For ? For me it was simple, I really, really don’t want to get shingles, so I would pay for the vaccine myself if I had to.

I must write a thank you note to TD for continuing to motivate me to write about my issues with them, and so another fine rant was written, Automatic Withdrawal Audits. I still await the results of the problem ticket I opened with TD Mutual Funds.

A Money Thought

“Never buy anything from someone who is out of breath.”


Surprisingly, that makes good sense!

More Disturbing Financial Images

Monopoly Rule 11

Same is True of Bank of Canada Too?!?

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CRA Itunes Pmts, RESP Scams and #MoneyTalk

I am disturbed to read about a new scam being perpetrated by scum bags, who call unsuspecting folks and claiming that that the victims owe a great deal to the CRA and it must be paid right now. The scam is quite unbelievable if you hear it, but it has caught a few folks already. The CRA has a page for this specific type of scam, so please check this CRA Scams Web Site (by the CRA) and learn how to recognize this kind of scummy behavior. The CRA are nice folk, but they are a government agency, they have very specific rules of conduct with the public, they can’t directly harass on the phone (I don’t think). Some simple hints that this is a scam:

CRA Scams

Protect Yourself

  • Very aggressive behavior, and demanding payment within the next hour. This is a government agency, nothing happens in an hour (OK, most things never happen in an hour).
  • If they ask for a Credit Card Number, or for you to “Cable” money, the CRA doesn’t do that (and they sure as hell do not do Itunes cards).
  • Tell you that you cannot tell any 3rd parties or the like, that is the flaming red arrow that should cause you to hang up your phone.

Please, don’t be fooled, or duped.

Staying with scumbags, evidently there were folks in Toronto that were contacting new Parents to try to sell them RESPs. Evidently Rouge Valley Health System had their patient personal info stolen, and this is where these folks got the info to contact the new mothers. Don’t buy stuff over the phone, if you didn’t ask for it in the first place.

Farewell to Canada AM which goes off the air today, after 43 years. The morning show format seems to be dying off, but I haven’t really watched Canada AM for a while (sorry guys).

Will Tragically Hip farewell tour tickets become the next Tulip Bubble for Canada?

My Writings for Week Ending June 3rd

A busy week for me at home, so only one new post put in place for the week.

Bad Financial Planners Can Help points out that even if you start with a very bad financial plan, if you review it, revise it and keep it up to date, you might end up with a very good plan. Remember any plan is a living thing, and will need to change with time.

A Money Thought

This hour has 22 minutes still continues to be funny, however in this instance, I fail to see the humor of this (as a parent who has already talked about moving back in with your parents).

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Loose Money and #MoneyTalk

The Bank of Canada’s key overnight rate stayed at 0.50% this week, so nothing much will be changing in terms of interest rates for a while longer (it seems). The statements made are:

Commemorative and Polymer series $20 note / Billet commémoratif de 20 $ et billet de 20 $ en polymère

Some Mighty Fine Looking Money

In Canada, the economy’s structural adjustment to the oil price shock continues, but is proving to be uneven. Growth in the first quarter of 2016 appears to be in line with the Bank’s April projection, although business investment and intentions remain disappointing. The second quarter will be much weaker than predicted because of the devastating Alberta wildfires. … The economy is expected to rebound in the third quarter, as oil production resumes and reconstruction begins. … Inflation is roughly in line with the Bank’s expectations… Canada’s housing market continues to display strong regional divergences, reinforced by the complex adjustment underway in the economy. In this context, household vulnerabilities have moved higher. Meanwhile, the risks to the Bank’s inflation projection remain roughly balanced. Therefore, the Bank’s Governing Council judges that the current stance of monetary policy is still appropriate, and the target for the overnight rate remains at 1/2 per cent.

Things seem to be OK for now, and maybe the economy will pick up in the 3rd quarter, although I am intrigued about the statement of a “… complex adjustment underway in the economy…”. Is that a lowering of house prices? Wildly vacillating gas prices? Ludicrously expensive broccoli ? I doubt it, but it is a thought provoking statement.

My Writings for Week Ending May 27th

I did have a Happy Victoria Day, as I usually do. Did you realize that nothing is closed in Quebec on Victoria Day? We in Ottawa know this as we usually speed across the river to get beer on Victoria Day.

Our friends at Stats Canada pointed out we have Expensive Food and Shelter in April in Canada. Nothing really that new and exciting here, except that fresh food is getting darn expensive.

On the technology front I picked up a new computer (desktop) for my son and I learned about Bloatware and Cheap PCs. Assuming this is just harmless stuff can get you in trouble, make sure you clean your computers out and run anti-virus software.

A Money Thought

I always like useful financial sayings from movie characters.

“The most valuable commodity I know of is information.” —Gordon Gekko (Wallstreet)

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Happy Victoria Day

The long weekend in Canada that symbolizes the start of the summer! Enjoy your holiday Canada, and while you have the time off, here are a few of my favourite money posts to read while sitting on the dock at the cottage or on the deck in your back yard.

Canadian Flag

Happy Victoria Day

Fun Reads for the Long Weekend:

Remember back to work tomorrow, and don’t drive distracted, or while impaired.


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