The Bank of Canada decided that the best way to wean an economy that is addicted to stimulation is to lower the interest rates ? Canada does seem to be in a recession, but lowering Interest Rates is an interesting way to deal with it. Their exact statement about the economy (which they now claim won’t recover until mid-2017):
The lower outlook for Canadian growth has increased the downside risks to inflation. While vulnerabilities associated with household imbalances remain elevated and could edge higher, Canadaâ€™s economy is undergoing a significant and complex adjustment. Additional monetary stimulus is required at this time to help return the economy to full capacity and inflation sustainably to target.
What did that do to the Canadian Dollar, you might ask?
Weddings? Yes, my eldest daughter (Daughter 1.0), was married this past weekend and it was a wonderful event. She looked radiant, and it was interesting to be back in Kitchener. I thought Ottawa’s construction problems were insane, but Kitchener has taken it to a new level, ripping up King Street.
For those who have not participated in a wedding as a parent of one of the participants, it is a very different experience, and I was not really ready about how emotionally draining it was, and yet another event that reminds you of your own mortality.
Greece? Seriously? Who is writing this stuff? Is anybody investing in Greece trying to make some quick money maybe? Are you? You are NUTS!!!
My Writings for Week Ending July 17th
I was recovering from my daughter’s wedding, so not much new from me this week, but maybe some more helpful family posts :
- I did do a commentary on the jobs story from last week with More Full Time Jobs in Canada in June. There were less jobs total in June.
- For those who may have missed one of my parenting tip posts, Parenting Tip #327: Large Expenditures (Weddings and Education). Did I pay for the wedding?
- An interesting comment from Michael James on the Parenting Tip reminded me I also wrote about Lifestyles with Boomerang Kids, bricking up rooms is an option.
- You can check out many of my University Cost rants in the RESP section of this site. However, one of my faves is University Costs How Much (I wrote it before my kids went to school).
I did buy something on Amazon Prime day, but what was the impact of Amazon? The Economist has something for you:
Is there such a thing as Economic Ritalin?
Mark from the Blunt Bean Counter claimed he was taking the summer off. However, it looks like he will leave us with something to read with, The Best of The Blunt Bean Counter – Cottages – Cost Base Additions, are They a New CRA Audit Target? They are a pretty big target, that is for sure. Speaking of the CRA, remember how they pay out is going to change and Government Cheques are Going Away.
You do realize that as you age, your career planning goals need to change to, correct? Mark from Second Career search, reminds us of this with, Career Planning for The Over 55 Crowd (I am almost in that bracket). In an interesting twist Larry MacDonald did a piece on Tom Drake (another friend of this site) in the Globe and Mail, Financial analyst lowers investing fees with Vanguard and iShares. Stats Canada may publish monthly inflation numbers, but Marie from Boomer and Echo brings us The Real Cost of Living.
Speaking of retirement, Michael James takes on a contentious subject, Another Take on Retirement Withdrawal Strategies. Some folks don’t take inflation into their retirement planning. If you can find anyone who retired in the 70’s, ask how that worked for them. Mark from My Own Advisor continues on his tell-all angle with How I used to sabotage my portfolio, he is a brutally honest man (well worth reading to learn some NOT how-to hints). Do you know what your investments are worth? The Canadian Couch Potato wants to help with Calculating Your Portfolioâ€™s Rate of Return .
UCCB Changes Explained
Preet has an older video where he explains the new UCCB rules coming into play, now:
2015 Random Thoughts
- January 2nd Random Thoughts on 2014, Welcome to MMXV and #BestOf
- January 9th Frigid Temps, Plunging Oil, Paris and #BestThisWeek
- January 16th Canadian Economy on the Edge, Frigid Temps and #BestThisWeek
- January 23rd Looser Money, Plummeting Loons and #BestThisWeek
- January 30th CLBs, Weak Loons, Tax Time, Superb Owls and #BestThisWeek
- February 6th Superb Decisions, Gas Going Up, Rugby and #BestThisWeek
- February 13th RRSPs, Valentines, 50 Shades of Debt and #BestOfThisWeek
- February 20th Lent Begins, Freezing Temps, Apples and RRSP and #BestOfThisWeek
- February 27th RRSPs, Saint David, Right Arm and #BestOfThisWeek
- March 6th Illness, K-Cups, Interest Rates and #BestOfThisWeek
- March 13th March Madness, Taxes, Friday the 13th and #BestOfThisWeek
- March 20th Spring has Sprung, Ten Years, The Madness and #BestOfThisWeek
- March 27th Death of EPost, More Madness, and #BestMoneyStories
- April 10th Senators, Retiring Rich and #BestMoneyStories
- April 17th Playoffs, Tax Time, Beer tax and #BestMoneyStories
- April 24th RRIF Allowances, Bursary Changes, Budgets and #BestMoneyStories
- May 1st Tax Extensions, Golf Season, Bank Fees, May Day and #BestMoneyStories
- May 8th Alberta Valium, Motherâ€™s Day, Che Guevara, Pay Day Loans and #BestMoneyStories
- May 15th Starbucks, Monty Burns and #BestMoneyStories
- May 22nd Coach Money, CPP Up 18 pct, Losing $15B and #BestMoneyStories
- May 29th Easy Money, Better Cell Deals, Dirty Football and #BestMoneyStories
- June 5th Starbucks, Hacked Government Folk and #BestMoneyStories
- June 12th Voldemort for PM, HSBC Cuts 50K, Hockey Talk and #BestMoneyStories
- June 19th Aeroplan Student Loans, Dadâ€™s Day, Kill CSBs and #BestMoneyStories
- June 26th Summer is Here, Canada Day, Christmas and #BestMoneyStories
- July 3rd 2 Day Work Weeks, 4th of July, Greece, and #BestMoneyStories
- July 10th Glitches, Greece, Recessions and #BestMoneyStories
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