It is a long weekend, but a weird one since most of us haven’t really been going into work. Is it a long weekend? Well it will be in Ontario, because on Tuesday May 19th 2020 more stores will be opening up. Will this cause a Boxing Tuesday effect (i.e. people lining up to get in, showing up at 5 AM)? Maybe not, but it may cause more shopping mayhem. Stores that have opened so far do seem quite, crazy.
In Ontario we are only in Phase 1 of opening back up, and there are many rules still in place, but will people follow the rules? That remains to be seen. We see our rowdy southern neighbors are already acting like, it was all a bad dream. Time will tell whether this is the right way to do things. My opinion is a slow opening is a good thing, but until we have a vaccine or cure, we won’t be anywhere near “normal”.
Much more financial help announced by the government this week, and you should read about all of them. Seniors are getting some money, students are getting some money, etc.,. The Tories are worried about possible fraud in the system, I am confident the CRA will find the obvious ones. I am with the pundits that are asking, how will this all be paid for? Again, we shall see.
Note that Unemployment rate is now at 13.0%, that is a very high rate of Jobless Claims.
|Inflation (year over year February 2020)||2.2%|
|Bank of Canada Overnight Rate April 21st||0.25%|
|Unemployment Rate (as of April 2020)||13.0%|
|GDP Growth January 2019-20||1.8%|
|Population of Canada (Jan 1, 2020)||37.894 Million|
|CIBC current prime rate||2.45%|
|BMO current prime rate||2.45%|
|Scotiabank prime lending rate||2.45%|
|TD prime lending rate||2.45%|
My hope is that my prediction that things will change in the world of office design really will change, but I am pragmatic enough to know it may not happen in my career space.
- The Death of the Open Concept Office Space is my perusing of a CDC report and hoping that it really does mean the end of the open office space, and get back to a bit more respect for employees. Is this really going to happen? We shall see.
It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.Josiah Stamp
More Financial Writings for a Long Weekend
Some interesting reads for your long weekend, while you are still practicing social distancing (I hope). It was also Privacy Awareness Week this past week, did you realize that?
- Did you realize there was an actual investigation by the government about Facebook and their use of your data? You should read, Joint investigation of Facebook, Inc. by the Privacy Commissioner of Canada and the Information and Privacy Commissioner for British Columbia, to understand the lengths Facebook went to invade your privacy.
- Playing with FIRE is a book review by Michael James with his commentaries on the content, the best line being that FIRE is, â€œYou donâ€™t have to do anything you donâ€™t want to do! You merely have to align what you want with how you spend.â€
- I read magazines, for free, on line thanks to the Ottawa Public Library. This allows me to read things, I wouldn’t pay for so Kiplinger is a good example, and they had an interesting article, Kip ETF 20: The Best Cheap ETFs You Can Buy. Luckily Kiplinger has some articles on line as well.
- BNN Bloomberg gave me the biggest spit take of the week when I saw, Inflation Is the Way to Pay Off Coronavirus Debt. Speaking as someone who lived through the 70’s and 80’s, not on your bloody life, Sunshine!
- I am reaching an age soon (60) where I will really need to start planning my estate, and luckily I read the Blunt Bean Counter. This week we have Alter Ego Trusts and Joint Partner Trusts â€“ An Example – estate planning that needs to be read.
- I have been wandering around the Interweb , thanks to all this spare time I have. I found an interesting testimonial Happy Money, which is an outsiders view on Money (the blogger is not a money person).
Tweets of the Week
The PM makes a very good point, if you are shopping right now, Buy Canadian, and even more, Buy Local. So many small businesses need the business (Jeff Bezos is about to be a Trillionaire, so he doesn’t need it).
Possible the most esoteric Twitter discussion about Bitcoin, ends up with J.K. Rowling buying one? The Interweb is a wild and whacky place!
Videos of the Week
Preet has been pumping out video content about all the new COVID19 programs, and here is another good one. Can someone please send him a razor?
What if there was no Privacy?
Random Thoughts from the Past
- Opening up, May Day, COVID19 and #MoneyTalk (May 1st)
- Unemployment Spikes, Easter and #MoneyTalk (April 11th)
- Covid-19, Stay Home and #MoneyTalk (March 27th)
- Dusty Typewriters and #MoneyTalk (November 8th)
- March Madness and #MoneyTalk (March 30th)
- Lent Begins and #Moneytalk (March 6th)
- Christmas Treats, RESPs, The Markets and Polkas and #MoneyTalk (December 17th)
- GM, PC M/C Changes, Podcasts and #MoneyTalk (November 30th)
- RDSP Awareness , Volatility and #MoneyTalk (October 12th)
- Tech Infiltration , NAFTA/USMCA, WiFi, Tornadoes and #MoneyTalk (October 5th)