The Ontario Auditor General’s report for 2015 pointed out what seems obvious, Hydro One and the Ontario Government have been mishandling the power grid and have overcharged Ontarians for their electric bills. The report is scathing in its commentary on Hydro One’s mismanagement of the power grid, and the McGinty Government increase of our hydro bills. It is well worth reading, but will it change anything, I doubt it. The Premier is already “Plan B”‘ing the whole thing by blaming it all on the previous Liberal Government?
There is also a section about Autism Support programs, called Autism Services and Supports for Children, an important read for anyone who has a child on the autism spectrum. The Audtor General states:
In 2014/15, transfer payments for autism services and supports totalled $188 million ($182 million in 2012/13).
The Bank of Canada continued on with its loose monetary policies, with no change in the key interest rates.
The Bank judges that the risks around the inflation profile remain roughly balanced over the projection horizon. Vulnerabilities in the household sector continue to edge higher while overall risks to financial stability are evolving as expected. Taking all of these developments into consideration, the Bank judges that the risks to the outlook for inflation remain within the zone for which the current stance of monetary policy is appropriate. Therefore, the target for the overnight rate remains at 1/2 per cent.
I think they are saying they are too scared to raise interest rates, for fear of breaking the economy?
Our friends at Stats Canada also put out a very interesting set of data in their bulletin, Developmental disabilities among Canadians aged 15 years and older, 2012 which made the following worrisome statement:
The employment rate of working-age adults aged 15 to 64 with a developmental disability was 22.3%, less than one-third of the rate for people without a disability (73.6%), and the lowest employment rate of any disability type. Even when employed, this group had a lower median employment income compared with those who did not report any disability. Those with a developmental disability were more likely than those without any disability to rely on government transfers as their major source of income (71.9% versus 18.7%).
For those of us with loved one who have been identified with developmental disabilities, that is quite scary (the 22.3% employment rate).
Advent is here, that means you can officially put up your Christmas decorations, and such.
My Writings for Week Ending December 4th
Not as much writing as last week, but still some interesting ones:
- Up Selling in Banking came about after Mrs. C8j was accosted by a TD Teller about how our financial planning might need help.
- The concept of the Financial Long Shot came to me after reading an interesting article on Chico Marx, and how while some folks have gambling issues, others are addicted to taking risks, and this is a bad thing financially.
- From my archives, for those of you who are unaware I loath article with numbered lists and thus I wrote the Top 5 Reasons You Are In Debt. For someone who dislikes this type of article, I sure do write a lot of these lists.
Facebook Post of the Week
What is Preet doing above the fold line on my Friday post? This isn’t how it works, but Preet wants to help you understand the CCB
Advent is a Time to Prepare
Are you trying to build your retirement nest egg by having rental property? Good luck to you, I decided I didn’t want to do that very early on, after seeing what a former girlfriend’s parents had to do with their rental properties, however, Mark from the Blunt Bean Counter brings us Should You Claim Capital Cost Allowance on Your Rental Property? If you are in the real estate game. Speaking of Real Estate Kerry from Squawkfox wrote in the Globe and Mail about a very odd topic, Meet the mortgage-free 30-year-old whose frugality riled the Internet, how can frugality upset people? Guess you better read and find out. Speaking of the Globe and Mail old friend Larry MacDonald wrote a follow-up article for them Meet a dividend investor who’s on his way to early retirement, you may recognize this investor too.
Barry from Money We Have points out that there are financial firms that are actually trying to help with his article Financial Services Companies Going Above and Beyond, which is heartening to read this time of year. Mark from My Own Advisor hops on the Debt loathing bandwagon with the rest of us in his article Debt is another four-letter word for most of us, and I agree it is a quite rude 4 letter word (might even get you a fine on the TTC Link to Pearson Airport). Did you realize that EI offers Employment Insurance Compassionate Care Benefits? If you need to care for a severely ill loved one EI can help out and Million Dollar Journey outlines how this can be done.
Michael James asks, What is the Value of a Public Service Pension ? As you can guess, pretty darn valuable, as I also mentioned in my article I am a Civil Servant, as well. The only better pension is the one that the MP’s and crew get. If you aren’t going to have a rich pension, you might need a side-hustle to get to a comfortable retirement, and luckily Robb from Boomer and Echo helps us out with How I Turned A Blog Into A Profitable Online Business . Robb talked about this at a Personal Finance Conference as well, and I respect anyone who wants to hustle to make a buck, I am just too bloody lazy to do it. Remember, don’t hate the player, hate the game (unless you are a Browns fan like Robb, then you can hate the team too).
High Price of Ball Players
David Price is going to get $240M for 7 years to play for the Red Sox, the following Tweet sums it up nicely.
Greek Mythology Meets LEGO
The story of Sisyphus sums up many careers, and this LEGO kinetic sculpture sums it all up nicely (or painfully, if you think about it)
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, Mother’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, Dad’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
- July 17th Loosest Money, Weddings, Greece and #BestMoneyStories
- July 24th, Family Allowance, Diving Dollar, Access Sharing and #BestMoneyStories
- July 31st, Elections, Heat, Cheap Oil, and #BestMoneyStories
- August 7th, Cheap Gold, Cheap Oil, Weak Dollar, Election Week 1 and #BestMoneyStories
- August 14th, RDSPs, Thrifty NFLers , Election Ho Hum and #BestMoneyStories
- August 21st, Rhinos Return, No Good Debt, Election Banter and #BestMoneyStories
- August 28th, Boom Goes the Markets, Market Cheese, and #BestMoneyStories
- September 4th, Back to School, RESPs, Banks Behaving Badly and #MoneyStories
- September 11th, That Day, I Miss Jack, Easy Money and #MoneyStories
- September 18th, Surplus, What Surplus, NBA Frugality, National Debt and #MoneyStories
- September 25th, The Pope, Autumn, Elections, Volkswagen and #MoneyStories
- October 2nd, An Older Canada, Farewell Max, and #MoneyStories
- October 9th, Turkey Day, Elections and #MoneyStories
- October 16th, CPFC15, Election Day, Jays and #MoneyStories
- October 23rd, Election Reflections, Loose Money and #MoneyStories
- October 30th, Spooky Prices, Falling Back, and #MoneyStories
- November 6th,Financial Literacy, New Cabinet, Hydro One and #MoneyStories
- November 13th,Remembrance, Friday the 13th, Financial Literacy and #MoneyStories
- November 20th, Paris, Black Friday, Financial Literacy and #MoneyStories
- November 27th, Black Friday, Cyber Monday, Regretful Tuesday and #MoneyStories
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Thanks for the mention. It’s always great when Larry makes me look intelligent.
Hydro One = One big mess.
Have a great weekend,
If Larry made me sound like I knew what I was doing, he is truly a great writer.
I hope that one day we can meet our hydro needs with local solar generation. Thanks for the mention.
Either that or local nuclear reactors or fission devices.