The Bank of Canada on Wednesday announced that they are holding Interest rates steady for another month or so. Why you might ask? Here is their exact reasoning:
Weighing recent higher inflation readings against slightly increased risks to economic growth leaves the downside risks to the inflation outlook as important as before. At the same time, the risks associated with household imbalances remain elevated. The Bank judges that the balance of risks remains within the zone for which the current stance of monetary policy is appropriate and therefore has decided to maintain the target for the overnight rate at 1 per cent. The timing and direction of the next change to the policy rate will depend on how new information influences the balance of risks.
Household imbalances is an interesting turn of phrase, I wonder what it means? My guess is Debt levels being so darn high, we might overturn the apple cart if interest rates jumped right now, but that is only my opinion.
Not sure if you noticed, but the responsiveness of the site seems to be much better, now that I have chosen a new Hosting Plan with my service provider Dreamhost. I can actually work on the site as well (lots of failures previously, and a great deal of lost work as well). Let us hope this new performance remains. (if you want to sign up with them use the promo code CAJUNPROMODH to get a discount (and put some coin in my pocket too)).
The Grand Prix de Montreal is this weekend, I won’t be there, but as a younger lad I remember hearing the race from my parents house (on the other side of the mountain from the track). Given the new rumbling sound of the new F1 engines, things might be a little more quiet? There is a great clip of Nigel Mansell’s most unfavorite moment in Montreal too.
Twenty five years ago (yesterday) Tank Man entered our collective consciousness, not sure what ever happened to this man, I’d like to think he is still alive, but I have my doubts. Why did he do what he did? If you click on the link you will go to a PBS Frontline page with a special on the Tank Man.
Election time is around the corner in Ontario, and I continue to think #NoneOfTheAbove is the best choice of the bunch. Do I vote for a Mike Harris wannabe? A Dalton McGinty sycophant ? Someone who acts too much like Bob Rae? This is going to be a very odd choice to make.
My Writings for Week Ending June 6th
What is a sycophant? Toady seems to be a good one word answer.
- I am not fond of the concept of the Bucket List, however the Financial Anti-Bucket List is something that intrigues me and as usual the comments were quite entertaining as well.
- Selective Financial Perception points out that you can get used to almost any annoying thing, but maybe your debts is not one of those things?
- Schrödinger’s Financial Cat yes my mind works in very mysterious ways, but I keep hearing about this darn cat and figured I could write about it as well.
- After the Leaders Debate I socialized an old post, Damn Rich Civil Servants, and it exploded with hundreds of readers, guess you need to be timely with that kind of writing.
This Week’s Finest
The mud slinging continues on the campaign trail in Ontario, now I know how the folks in Toronto must feel with their Mayoral Elections:
- As a fan of the movie Major League, I was delighted to read that The day has finally come: Jobu gets his own Topps Baseball Card. Who is Jobu? You’ll need to watch the movie to understand it. Maybe he can wake up my readers to comment more ? Need some Rum for Jobu.
- Comment of the week is from Denis complaining about vet fees, but talking specifically about his (formerly) Constipated Cockatiel, WINNER! GAGNANT! I need to figure out how to write a post with that title, Money and the Constipated Cockatiel
- I am confident that one of my kids will want to inherit this web site business and luckily I have now read something from the Blunt Bean Counter to help with that Estate Freeze – A Tax Solution for the Succession of a Small Business
- CNBC chatted with our friends at Freakonomics and came up with ‘Freakonomics’ authors blast stock pickers, evidently Blind Luck would work as well on stock picking, they must have read my new book, “Blind Luck, or Where Did All My Investments Go“, by the BCM.
- Speaking of individual stock picking Michael James has a Financial Quiz for you that confirms what our Freaky Friends were saying as well.
- The Globe and Mail has a scarey investing fraud story with A victim speaks out about financial fraud, remember it’s your money, watch it closely!
- The Canadian Couch Potato has some more advice about how to protect your investments with Ask the Spud: How Are Investors Protected?
- Larry MacDonald returns with a very topical statement The housing-crash bears have been wrong for 6 years. Why stop now? I must admit that I am bart of the bursting bubble one day crowd as well.
- The folks at Blomberg bring us the next explosive growth industry: No Pain, No Gain, as Tattoo Regret Fueling Laser Removals , if I could invest in that, I would, how many frigging ugly tattoos have I seen ? TOO MANY!
- Mark from My Own Advisor continues on with his attempt to get you to convert to the Cult of Dividends, with Why dividend investing works for me. Period. , what “Period” he speaks of, you’ll have to find out yourself.
- Mark from 2nd Career Search espouses the Top Ten Good Things about Retirement, the whole having to walk your admin and feed her biscuits sounds a little odd, but the rest sounds like fun.
- Google is going to spend lots of money to spread the Internet in fact Google will Deploy $1 Billion worth of Sattelites to Spread Internet Access, good use of their huge wealth.
- Kerry from Squawkfox points out that Mental Health is an important subject and she has a poignant story with Daddy Plays. Mommy Cries.
- Preet writes in the Globe that If you are not a Russian billionaire, divorce can be financially crippling, hey the poor guy is going to lose more money than Ontario’s Provincial Budget, show some mercy!
Family Guy Song of the Week
Family Guy while quite rude, does sometimes put out amazing advice in the form of humor, here is a lovely summation of our current personal financial economic problems:
Montreal Grand Prix Moment
Yes there is a race in Montreal this weekend, and this is a classic moment from the early 90’s with Nigel Mansell counting his chickens a little too soon!
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