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.
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.”
–BURTON G. MALKIEL
Surprisingly, that makes good sense!