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Inflation down 0.3% for June 2009

Deflation Continues

Yes, the deflation train gains a little momentum with Stats Canada announcing that the Consumer Price Index for June drop by 0.3% year over year.

The decrease was due primarily to a 12-month decline of 19.0% in prices for energy products, particularly gasoline. Excluding energy, the CPI rose 2.1% in June.

So energy prices are still driving down inflation, however, Food is still running at 5.5% inflation year over year (but that is down from 6.4% last month).

A more interesting point mentioned later is:

The Bank of Canada’s core index advanced 1.9% over the 12 months to June, following a 2.0% rise in May.

That puts things higher into the acceptable range for the Bank of Canada, are they thinking of raising interest rates soon?

The Big Table

 Relative importance2June 2008June 2009May 2008 to May 2009June 2008 to June 2009
  Unadjusted% change
All-items100.003115.4115.10.1-0.3
Food17.04115.8122.26.45.5
Shelter26.62122.3121.3-0.2-0.8
Household operations and furnishings11.10104.3107.33.22.9
Clothing and footwear5.3692.591.31.0-1.3
Transportation19.88125.8116.1-8.2-7.7
Health and personal care4.73108.7112.83.23.8
Recreation, education and reading12.20102.9103.80.90.9
Alcoholic beverages and tobacco products3.07127.7131.63.03.1
All-items (1992=100) 137.3137.00.1-0.2
Special aggregates     
Goods48.78111.6108.6-2.1-2.7
Services51.22119.1121.52.22.0
All-items excluding food and energy73.57110.3111.71.31.3
Energy9.38165.3133.9-18.3-19.0
Core CPI482.71111.6113.72.01.9

Quick Random Thoughts

This week the National Capital Financial Bloggers met and had some very invigorating discussions about a bunch of interesting topics (not all financial related), however the Flu Pandemic even touches these simple events with one member staying home with sick kids. Some of these financial mavens mentioned some interesting topics this week including:

Have a stupendous weekend.

Inflation in 2009

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TV Trends: You are wrong!

From my viewpoint most of the “self help” shows on TV these days consist of an expert telling a dupe (or dupe couple) that they are wrong,

The array of shows seem to follow the following formulas:

You Aren’t Wearing That!!!

Two people treat you like the “cool” kids did in High School (i.e. they berate you for your taste in clothing and ridicule you until you agree with them). While this is entertaining, I suspect I could well be one of their victims, as I am not a “victim of fashion” (to quote Rough Trade) I wear what is comfortable to me mostly (I have suits that I wear when I need to show I can dress like an adult).

You are FAT!

There are a bunch of these shows that either take morbidly obese folks and attempt to get them to lose weight by making them exercise a lot and change their lifestyles or something similar to this. These shows typically are like the jocks in high school making fun of the “geeks and fatties”, except the hosts then attempt to help them lose the weight. I applaud the attempts, but they all seem superficial and I would be very interested to see follow up shows 1, 2 and 5 years after to see if folks keep off the weight.

I’d fit into one of the “hey you need to lose those last 30 lbs” shows right now (under full disclosure).

You can’t Drive or Fix Your House!

There aren’t that many shows about this, but they are quite funny to watch, but in a very  mean way. You watch folks who just don’t understand how to drive or how to do any kind of “home fixit” things and you watch the hosts laugh at them about it, and attempt to fix this issue.  I must admit I do watch these shows and laugh, but I also feel guilty for doing it. I am also not a “fix it” kind of guy unless it is a computer, then I am ok with that.

You Spend How Much Money?!?

This last type of show is more in my neck of the woods, but again it is painful to watch them. The hosts usually try hard to show the couple or person the folly of their way (I like Gail Vaz Oxlade’s show, but can’t watch it because the stories of how the people got into debt drive me insane).  It is important to help these people, but it is important that these people realize that all of this is a lifestyle change, not just a quick fix. Again, follow up with these folks after a while might be very interesting.

I am astounded at some of the folks who go on this show and let their financial misfortunes be put on TV for all their friends and family to see. I think I would sooner see naked pictures of me on the net, than publish all of my financial failings (fear not, I suspect there are no naked pictures of me out there, and if there are, nobody really cares).

Congrats Preet!

Why am I writing about this? Preet over at WhereDoesAllMyMoneyGo won the W Network Expert challenge so he will be doing his own personal finance show pilot and we wish him the best of luck on that.

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Now that is overspending

This was written way back in 2009 and now we know that the US Fed (and Canadian too) have a deficit bigger than that. This is all part of Modern Money Theory which I do not think works, but only time will tell. Debt is always a bad thing in my book.

That is a Credit Card Debt!

Here in Canada we are flagelating our government because they are going to be running a budget deficit (they are going to spend more than they make this year) of over $50B, and rightfully so, given we have been runnnig surpluses for several years (i.e. making more than we spend), however we are humble overspenders compared to our brothers to the south (the USA). The estimate now is that this year the US Federal Government will run a deficit (remember that is overspending this year’s budget) of over $1 Trillion, wow.

That is effectively the same as giving every single human being on the earth (assuming the Trillion they are talking about is 10 to the power of 12) $140.00, this year.  Canada’s deficit would only give every human a paultry $7 , as you can see we Canadians are small time in this overspending world.

How will this be remedied in either country. Some are arguing in both cases there are 1 time bail outs that do not reflect actual spending habits (Bank Bail outs, Car Company Bail outs, etc.,), and that may well be the case, but what is going to be the fall out trying to pay back this deficit? Canada had been paying back the National Debt (i.e. the money we owe, from accumulated deficits over the years) however this latest set back is not a good thing.

As with personal finance every time a deficit is run for a year, it will eventually need to be paid back, Live Now but you will Pay A Lot More Later.

Local Ponzi News

If you think Bernie Madoff is a uniquely American issue, think again, evidently a new collapsed Ponzi scheme has been uncovered in Montreal. Earl Jones, the advisor in question is missing, as is all of his “clients” money as well.

This begs the question, do you trust your financial advisor? Are you sure you know where all your money is, and why it’s there?

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Unemployment Numbers up a Bit for June 2009

Unemployment Up Again but only a little to 8.6% June 2009

Stats Canada has published it’s monthly employment figures for June 2009 and the numbers are not remarkably different from last month’s numbers, which is a good thing, given the huge leaps we have seen in the past few months.

Employment was little changed in June, leaving total net losses during the last three months at 13,000, much smaller than the 273,000 decline in the first three months of the year. The unemployment rate edged up 0.2 percentage points to 8.6% in June, as more people looked for work.

Youth Unemploymentwas not good either with this summer upon us:

Youth aged 15 to 24 were hard hit in June, with losses of 33,000. Their unemployment rate went up a full percentage point to 15.9%, the highest rate in 11 years. Employment losses for youth in June were offset by gains among people aged 55 and over.

So the nearly retired crowd seem to be getting  jobs, but students in the summer are not?

Around the Financial Whirled

A short sprint around the financial blog world shows a few bloggers on vacation and others enjoying the fruits of their labours as well:

Have a great weekend.

Previous Months Unemployment for 2009

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When does my Cellphone Contract End?

Wrote this one back in 2009, when Cellphone Contracts were not as atrocious as they are now, in Canada.

When does my cellphone contract end had been a question that Mrs. C8j had been asking me for a while. I had been too chicken to go to the Bell store near us to find out. I continued to mull around how exactly to figure this out. In the end, she changed to Telus as she got a better deal there.

When Can I get a Phone Upgrade?

Yes, this seems to be the magical information that is directly tied to when my cellphone contract ends.

How do I find this information out? Follow these steps:

  1. Log into your MyBell account (if you haven’t done this, do so, it is free)
  2. Go to the My Services Section and select See or Change Rates for your wireless account
  3. In my case since I have two phones it then asks for which phone number you want to look at thus you select the phone number you are interested in (or you may not see this screen at all).
  4. A page entitle My Wireless will come up on your screen.  In there is a section which is titled My Phone, and you should have a link to Upgrade My Phone (click on it).
  5. Here is where the information you search lies.

On my page, there is a line that said:

If you wait until 2009/09/02 to upgrade you’ll be eligible for a credit of up to $200.00.

The only reason that Bell would give me that kind of credit is to retain my account, thus I have found when my contract expires with Bell. I get $200 if I renew for 3 years, how nice.

Caveat: Be careful with this methodology that you do not go too far and accidentally end up either “renewing” your contract -or- upgrading your phone!

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