This week in Ottawa, a massive sinkhole opened on Rideau Street. There are conflicting stories about whether it was a new Gateway to Hell, or whether the exposure of an existing personal gateway to hell. Either way, it just goes to show that in the Nation’s Capital when we make a hole, we really make a hole.
I was downtown on Thursday for meetings, and while the downtown is a bit of a mess, all I could think was that I wished I was either in the Concrete, or Concrete Delivery business, as the entire downtown seems to be littered with Cement Delivery trucks (to fill the hole). Ottawa does seem to be prone to sinkholes, as we have had more than our share over the past while.
The Bank of Canada thinks the economy is unchanged, as it announced the Financial System Review this week, however, three risks were noted:
The Bank continues to highlight two vulnerabilities related to Canadian households: the elevated level of household indebtedness and imbalances in some regional housing markets. A third vulnerability identified is the fragility of fixed-income market liquidity.
This translates to continued big debt and ludicrous house prices in Vancouver and Toronto (and a few other places) are worrying the Bank. A major financial event (say like a recession) might cause some big issues in the current economy.
My Writings for Week Ending June 10th
I have written about how I am an attractive bag of medical conditions, but after my latest yearly check-up I came up with the question What Would You Pay $213.52 For? For me it was simple, I really, really don’t want to get shingles, so I would pay for the vaccine myself if I had to.
I must write a thank you note to TD for continuing to motivate me to write about my issues with them, and so another fine rant was written, Automatic Withdrawal Audits. I still await the results of the problem ticket I opened with TD Mutual Funds.
A Money Thought
“Never buy anything from someone who is out of breath.”
–BURTON G. MALKIEL
Surprisingly, that makes good sense!
More Disturbing Financial Images
No More Half Measures (financially)
I agree with Mark from My Own Advisor’s view on Why a personal finance day a month is a dumb idea. You don’t have to do this every day, but once a month is not enough. Another part of financial management is planning and Marie from Boomer and Echo advises Don’t Forget To Manage Medium-Term Goals, and I do like the catchphrase about planning a wedding and investments too. Why are some folks motivated to save? Marshawn Lynch has $50 Million saved because he has eaten cereal with roaches in it, read the interview, it is raw but very motivating. Speaking of no middle class, another interesting read Why the middle class has less money and bigger bills, is there really a middle class anymore?
While the housing market in many parts of Canada (including parts of Ottawa) might be white hot, Mark from 2nd Career Search has run into a few issues selling his house, which he outlines in, The Difficulties of Selling a House with an Old Dog. Speaking of houses (and bubbles) Barry from Money We Have talked about Assembling Your Real Estate Team , however, some folks try to do a lot of this kind of stuff themselves, is an agent worth all you pay them? How about a real estate lawyer? Home Inspector?
The Chancellor at Trent University (Don Tapscott) is a very entertaining speaker (and a very good writer) and after looking up some of his work I came across Blockchain is the future of Fintech. Well worth reading if you want to remain relevant in the coming financial evolution. Steadyhand likes the analogy about investing in the piece, Walking the dog, I don’t quite get it, myself. The Key to the Best Financial Advice: ‘Humility in Large Doses’ , is a very good point. I like humility in most folks, but having an arrogant financial advisor would really turn me off.
To paraphrase George Carlin will elimination of the US Penny, “… curve your spine, and stop the country from winning the war!”? No, and Michael James elaborates on this with A (U.S.) Penny for Your Thoughts.
Mr. Oliver is very correct in his statement Nothing good has ever been sent in an Excel Spreadsheet! A truer statement has not been made this week.
2016 Random Thoughts
- January 7th, Market Meltdown, TFSA, WildCard Weekend and #MoneyStories
- January 14th, Cheap Oil, Cheap Dollar, Dead Folk, and #MoneyStories
- January 21st, Loose Money, High Household Debt, Weak Loons and #MoneyStories
- January 29th, Doomsday Clocks, Rogue RRSP Receipts, Cash Crops and #MoneyStories
- February 4th Bouncing Loonies, RRSP Season, Superb Owls and #MoneyStories
- February 12th Lent is Here, Bricked iPhones, Love Day and #MoneyStories
- February 19th Digging Out, Ransomware, RRSP Time and #MoneyStories
- February 26th RRSP Time and #MoneyStories
- March 4th Welcome Americans and #MoneyStories
- March 11th Bank Rate Stays Put, Spring Forward and #MoneyStories
- March 18th Financial March Madness, Budgets and #MoneyStories
- March 25th, Easter is Here and some #MoneyStories
- April 1, Money Fools, Ronnie, and #MoneyStories
- April 8, Tax Time, Spring Delayed, Panama Papers and #MoneyStories
- April 15,Loose Money, Free Stuff, Hockey and #MoneyStories
- April 22,Disabilities, Tax Time, The Queen and #MoneyStories
- April 29,Pitter Patter Tax Time, RESPs are For Rich Folk and #MoneyStories
- May 6, Fort Mac, Mothers and #MoneyTalk
- May 13, Panama Papers, Google & PayDay Loans, Full Moons and #MoneyTalk
- May 20, Victoria Day, The People’s Elbow, Haircuts and #MoneyTalk
- May 27, Loose Money and #MoneyTalk
- June 3, CRA Itunes Pmts, RESP Scams and #MoneyTalk
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