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Worse Job Losses Possible

TD has revised their view of 2010. They have some disturbing forecast numbers for 2010, especially for someone who is looking for a job:

Notable features of this updated forecast are a pronounced further weakening of housing starts to a trough of 140,000 (compared to 160,000 in the December forecast) and an overall employment loss of 324,000 (compared to the shallower decline of 250,000).

This forecast is for 2010, and it also assumes an economic stimulus package, which is likely. The erosion of jobs will mean more folks on E.I. and another turn in the down spiral of the Government’s capability to balance the budget. This means less tax income, and having to pay out E.I..

Hope these guys are wrong. We’ll find out how things are going regarding employment numbers on Friday (the 6th of February).

Christmas Done

This year’s only outstanding Christmas bill in the Big Cajun Man household has been paid off with leftover cash from the fund my wife set up for Christmas. This means our Christmas “conscience” is clear. Earliest that has happened in many years.

Another TD Low Blow

Since my accounts with Canada Trust, I have had a preferred non-secured line of credit at a meager rate (prime + 0.5%). When TD took over CT, I was told I would be grandfathered, and the account rate would not change.

I have been warned a few times that the terms of this credit vehicle might change (and I have complained each time), however this Monday, I received a letter confirming that the account will move to a Prime + 1% account (and also that they will gouge me $35 a year if the account is not active during that year).

Ellen Roseman managed to get TD to drop the $35 inactive charge. However, it is unlikely that I will get to keep my shallow rate line of credit. I don’t use it much these days, but I am not happy about this arbitrary decision by TD.

Feel Free to Comment

  1. My TD LOC is at Prime + 4% and I can’t do much about it. Good thing I don’t use it much, it’s for emergency only and rarely goes into -ve

    I’d happily take P+1% for Personal LOC
    I do have HELOC @ Prime though for investment

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