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Inflation , TZ3, Interest Rates and #MoneyTalk

Estimated reading time: 5 minutes

Of Inflation, space rock TZ3 and Interest which is most likely to do the most damage? Currently, Inflation and Interest rates are more likely, as TZ3 will miss the Earth by about 5 million kilometres. Rumour has it Pierre Poilievre is planning on firing TZ3 if Interest Rates go any higher (if he becomes PM). Maybe I have that story a little off, still need to confirm that one.

Inflation continues on at about 6.7% with gas prices in Ottawa high (between $1.85 and $1.99 per litre). Interest rates look to be putting a crimp in the “red hot” real estate world, but that remains to be seen.

The Ontario Provincial Election is a topic of conversation. Plenty of muck flying, accusations and outright lies being told (on all sides). Politics need to make everything a red panic button is becoming a bit overdone. The Ontario Party is attempting to add a more American feel to the election. Mercifully it is a relatively short election period.

Some Numbers for the Middle of May

Inflation (year over year March 2022) 6.7%
Bank of Canada Overnight Rate April 13th 1.00%
Unemployment Rate (as of March 2022)5.3%
Real GDP By Expenditure (Q4 2021)(quarterly change)1.6%
The population of Canada (Est Q4 2021)38,526,760
CIBC current prime rate3.20%
BMO current prime rate3.20%
Scotiabank prime lending rate3.20%
TD prime lending rate3.20%
Tangerine prime lending rate3.20%
Some Useful Financial Data for Canadians as of May 13th, 2022

Stay on Topic!

Various folks, including one of the advertising firms I use continue to berate me for not staying on topic. Frankly, I ignore those commentaries, I write about what interests me. With that in mind, I am adding an exciting new section. I would also have to figure out what the main topic of this site is, which might be harder than I think.

Books I Am Reading

Those who know me, know I am actually listening to these books while I commute to the office. Yes, I am an “in the office” kind of guy.

Creativity A Short and Cheerful Guide by John Cleese (Audible)(OPL)

This is an hour-long audiobook or a booklet, so an easy read. It is Mr. Cleese chatting about what he thinks creativity is and how it works. The book reaffirmed a few ideas I had seen about your brain working on things, even when you didn’t think you were. If you really don’t want to waste your time reading this, just watch a YouTube video from 1992, which effectively is the same thing. I am not allowed to include it, so just click here to watch it.

Cheated: The Inside Story of the Astros Scandal and a Colorful History of Sign Stealing (Audible)

An interesting set of allegations about the infamous Astros/MLB cheating scandal of 2018. It is also a very interesting set of stories about alleged cheating (specifically sign stealing) in Major League Baseball throughout the years. There were many examples I was unaware of, so I found them enlightening. If you love baseball, this is worth a read. If you wouldn’t know a spitball from a hairball, you might want to give this one a pass.


The Latest from Me

Had a sudden eruption of writing the past few weeks, we shall see if I can keep up this momentum



Other folks’ writings


Free Banking

Of course, there are plenty of folks that offer free banking


Social Media

When Oligarchs tweet, they really should let their “fixer” see it first. I had bosses that would insinuate this kind of, “you aren’t working hard enough” stupidity. Wonder why no one wanted to work for them?

Rounders is a movie I really liked. It was before the big Poker craze (which might have even caused it). Unfortunately (for Matt Damon), an adage he made has aged far too well.


Random Thoughts from the Past

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April Ends, Tax Time, Pandemics and #MoneyTalk

May Day is almost here when the workers will take control of the means of production! The concept of the Oligarch wasn’t well understood by Trotsky, but maybe it is an idea whose time has come?

Who had war in Europe on their 2022 Major Events bingo card? Just when you thought we might have a respite from the Pandemic, life continues to morph. We have the odd concept of nearly full employment, and folks refusing work? Not sure that is completely true, but unemployment is not an issue currently.

The Pandemic may be over in many folks’ eyes, but for me, I continue to lose at least 20% of my team each week to either exposure or actual cases of COVID. We’ll have to live with this? Do I need to have my team 20% over-staffed? Not sure I like this brave new world.

Ottawa lived through the (alleged) Freedom Convoy, and now we have Rolling Thunder coming to visit. No, it is not Bob Dylans’ Rolling Thunder Review or the bombing campaign over Hanoi, it is a group of Motorcyclists that are protesting. I’ll get back to you on the exact topic, one day.

April 29th is the last banking day to pay your taxes (in 2022). If you owe the CRA, time to pay up, or face interest charges and the like. Go pay your taxes, if you can. April 30th is the CRA’s deadline for 2022. Hopefully you won’t get any errors if you log into the CRA web site.

Questrade

Some Numbers for the end of April 2022

Inflation (year over year March 2022) 6.7% ⬆️
Bank of Canada Overnight Rate April 13th 1.00%⬆️
Unemployment Rate (as of March 2022)5.3%⬇️
Real GDP By Expenditure (Q4 2021)(quarterly change)1.6%⬆️
The population of Canada (Est Q4 2021)38,526,760⬆️
CIBC current prime rate3.20%⬆️
BMO current prime rate3.20%⬆️
Scotiabank prime lending rate3.20%⬆️
TD prime lending rate3.20%⬆️
Tangerine prime lending rate3.20%⬆️
Some Useful Financial Data for Canadians as of April 29th, 2022

Interest rates are now in the, isn’t that interesting, period. The bank prime is up 3/4% since January, might be time to lock in?


The Latest from Me

Been a quiet year (2022), due to family issues. I am learning far too much about Wills, Power of Attorneys, Homologation, Dementia, and Quebec law in general. When I find time, I will attempt to elaborate on my financial journey of the past year or so.

  • TD Mutual Funds to Directline? thanks to how the E-series funds were going to be dealt with in TD Mutual Funds, I had to move 2 accounts to Direct Line. I should have done this sooner and both moves were, not without some excitement
  • Retiring at 40 FIRE! as a mathematician I felt I could do a version of a “Math Dad Joke”. Didn’t really cause too much of a stir.
  • Inflation at 6.7% March 2022 in Canada remember all those articles I wrote saying it was coming? Well, it did finally arrive. It does prove even a broken clock is right twice a day.
  • RDSP Grant Entitlement 2022 is another in a series about this information for RDSP holders.
  • Did I mention to pay your taxes? Just a reminder, make sure you pay them, or make arrangements with the CRA.


Other folks’ writings


Social Media for 2022

Sometimes my Twitter Feed has some oldies that folks get interested in.

With the aging of the population, will Dementia and related topics become more important?

How will your finances work if Dementia creeps in?

Random Thoughts from the Past

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Happy New Year 2022 and #MoneyTalk

Happy New Year 2022? Can we even say that yet? After 2021, maybe let’s just say, “We hope for a Happy New Year” and leave it at that.

Over the year we have seen wave upon wave of COVID. Now we are seeing Inflation coming on strong, and natural disasters monthly. All in all a wonderful year.

I have been unable to write much due to work and family issues. I have learned a great deal about Dementia and how the Quebec Legal system works, which has been, enlightening.

Questrade

Some Numbers to End 2021

Inflation (year over year November 2021) 4.7% ⬆️
Bank of Canada Overnight Rate December 24 th 0.25%
Unemployment Rate (as of November 2021)6.0%
Real GDP By Expenditure (Q3 2021)(quarterly change)1.3%
The population of Canada (Est Q4 2021)38,436,447
CIBC current prime rate2.45%
BMO current prime rate2.45%
Scotiabank prime lending rate2.45%
TD prime lending rate2.45%
Tangerine prime lending rate2.45%
Some Useful Financial Data for Canadians as of December 31st 2021

Inflation is the scary one. So far, no reaction with Interest Rates, but they are promised some time in 2022.


COVID19 Data Canada

Click here to find an up to date graphic from the Government of Canada

Total Cases1,945,754
Total Deaths30,131
Data as of December 30th 2021

The number of cases is much higher from this time last year, but the number of deaths has doubled.

Click here for more great Posts from 2021 ! 🧨

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Good Friday, COVID continues, XRP, Tax Time and #MoneyTalk

Good Friday is a day of reflection. Why is it called Good Friday? (click here to find out) It is a day of endings, but of new beginnings too. If you need a milestone to start new behaviours Easter is actually better than the New Year. In the Christian perspective Easter is the New Year.

The old problem? We still have COVID, and all the associated issues. Vaccines are now deploying, but not as fast as they should. Businesses are failing, jobs are being lost and people are dying. Amazing what you get used to, I suppose. I have not been jabbed yet, even though I am over 60, but that may happen soon? Given all the vaccinations going on, why are the numbers so bad today? People are people.

How about Bitcoin? I keep getting asked about it because I am a Technology Geek and I write this, and my answer is simple, what? I have always viewed Bitcoin as currency (at best), and I have shied away from Currency Arbitrage whenever I could. I am not investing directly in Bitcoin, although the Index Funds I hold might do something with it. What about other Cryptocurrencies? What about XRP ? It is actually being used as a currency, but no one really talks about that. Axios (on HBO) episode 6 season 4 does a segment on XRP, very interesting. There are many cryptocurrencies out there.

Tax Time is here! I have already submitted my return and got my refund. I have also realized I may not have claimed something and may need to send an update. Tax Time is a wonderful time of year, so go get it done.

The good new is the Suez Canal has been cleared, so shipping can start again. The better news is the number of Memes that are created because of it. See farther down for only a few of these classics.

Inflation (year over year February 2021) 1.1%
Bank of Canada Overnight Rate April 2nd0.25%
Unemployment Rate (as of February 2021)8.2%
Real GDP By Expenditure (Q4 2020)(quarterly change)2.3%
Population of Canada (Est January 2, 2021)38,048,738
CIBC current prime rate2.45%
BMO current prime rate2.45%
Scotiabank prime lending rate2.45%
TD prime lending rate2.45%
Tangerine prime lending rate2.45%
Some Useful Financial Data for Canadians as of April 2nd, 2021

COVID19 Data Canada

Click here to find an up to date graphic from the Government of Canada

Total Cases971,715
Total Deaths22,900
Data as of April 2nd, 2021

Past Writings

So, haven’t done one of these in a long while. I am reworking some of my older articles, and attempting to start writing a bit more often. Maybe I’ll try to become an #Influencer? 💩

  • CPP and EI for 2021, never mess with a winning topic. The deduction allowances have changed and here is where you can read about it!
  • Quick Financial Thoughts just a few financial ideas to read about.
  • A Mortgage Changes You no matter what anyone tells you. You either learn to be fiscally responsible, or you lose your home.
  • Chutzpah in Job Interviews a rewrite from before I got laid off, when I was interviewed by an interesting chap. I assume he was well intentioned, but still, don’t use a term when you can’t pronounce it correctly. Also, never correct someone interviewing you either.
  • The One Thing That Helped me Get a Job is back when I was hunting for a job and the things I learned about how to find a job.
  • Paying Off Debt is Risky ? An odd comment on Instagram (when I was trying to become an influencer) caused me to erupt here.
  • My CRA Error ERR.021 what happens when the CRA gets advice about possibly hacked accounts? The hilarity that follows, is astounding.
  • RDSP Grant Entitlement Statement 2021 for another year we can put $1000 into our son’s RDSP.
  • How do You do your Taxes? A rewrite of an older commentary on doing your taxes.
  • Property Tax Alternative idea? Property taxes are becoming more and more expensive and it is mostly due to the sky-rocketing prices of homes in major Canadian cities.
  • Advice for New Grads? Another rewrite of some notes I made for an interview, for a magazine, that no longer exists.


Easter, a time to rebuild and restart?

As I have said many times, Easter is a great time to restart things. How about those resolutions you made on January 1st?


Sobering Message From Preet B.

At the end of it, somebody gets paid

Rick Mercer’s Nasty View on Taxes

I don’t think there is a more descriptive video for Tax Time than this Rick Mercer classic.

Rick Mercer for Governor General

That looks Stuck

That is what most of us thought of…

Hoyes Nails It

At the end of it, somebody gets paid

Canada is #1 But Maybe Not For a Good Thing

At the end of it, somebody gets paid

Random Thoughts from the Past

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Happy New Year 2021 and #MoneyTalk

Happy New Year, and with this new year we can finally say, “Hindsight is 2020”. Sorry for the Dad Humour, but that is only way I can laugh at 2020. Truly a year that will be one we talk about for a long time.

Planning any great New Year Resolutions? I think they are for suckers, you can change any time of the year. I’ll bet the Gyms take a big beating as most are closed and all those folks who want to get in shape for the New Year can’t sign up for a year long subscription. I am not dissuading you from making a Financial Change, just be realistic. Start with small changes, they add up slowly.

Questrade

Many folks think that the New Year will be a panacea for how bad 2020 was, but I am skeptical. This year has potential to be better later on in the year, but the Winter has potential to be as bad as 2020. Hope is a good thing, as I have mentioned before, but don’t get your hopes too high.

Will we all be working at home more, after things settle down? Maybe, but don’t be so sure it will continue as it did during the Pandemic. I can work remotely, but many teams cannot for many reasons. I am hoping for a hybrid solution for me. Less days in the office, would be nice, but I am not sure it will happen that way.

I turn 60 this year, so that makes me a Senior, I suppose. Given I am part of the privileged class (old white guys), I don’t feel that privileged. Must be subscribing to the wrong magazines?

Inflation (year over year November 2020) 1.0% ⬆️
Bank of Canada Overnight Rate December 24 th 0.25%
Unemployment Rate (as of November 2020)8.5%
Real GDP By Expenditure (Q3 2020)(quarterly change)8.9%
Population of Canada (Est July 1, 2020)38,005,238
CIBC current prime rate2.45%
BMO current prime rate2.45%
Scotiabank prime lending rate2.45%
TD prime lending rate2.45%
Tangerine prime lending rate2.45%
Some Useful Financial Data for Canadians as of December 31st 2020

COVID19 Data Canada

Click here to find an up to date graphic from the Government of Canada

Total Cases572,982
Total Deaths15,472
Data as of December 30th 2020

Past Writings

As the year closes, I realize I have not driven too much this year. I will write more this coming year, but not sure on which topic. More on RDSPs, but maybe a few other topics. Maybe I’ll try to become an #Influencer? 💩

  • The Perils of Automatic Payments outlines why you need to audit your automatic payment situation. If you use PayPal or allow companies to take money from your bank account, you need to know who is doing it. I was astounded to see how many were set up on my PayPal.
  • Merry Christmas 2020 are my Christmas wishes for this year. I also linked to all my previous Holiday Wishes. I have been doing this a long time.
  • Weirdest Boxing Day Ever? Certainly from the retail store perspective it was. In Ottawa most stores only did curb side sales. The Costco near me was not busy at all. On-line things may have been different.


Good Bye 2020, and Good Riddance?

This belief that 2021 has to be better than 2020, is naive. For some folks 2020 was a great year (ask Jeff Bezos). It is all a question of perspectives.


Password Security

PC Magazine published a list of the most common passwords. I have written previously about insecure pins, but these are wild. Take advantage of the year end to update your passwords!

Most common passwords for 2020
From PC Magazine’s Best Products of 2020 https://www.pcmag.com/

Internet Gouging?

Ellen Roseman points out that Canadians are getting gouged, and not just at the pump.

Canadians continue to get gouged for their Internet

Dancing Robots?

Great now even Robots dance better than me?


All Those Happy New Years

Yes, for many years I have wished you a Happy New Year

  • Happy New Year 2022 and #MoneyTalk recapped a lot of 2021 and hoped that 2022 was going to bring some hope.
  • A happy new year for 2021 ? Well it started pretty grotty, but it might get better.
  • I must have had an inkling about 2020, as I didn’t wish you a Happy New Year to start things. Hopefully with this post I have helped make the year better?
  • In 2019 I was too practical with Tangible Financial New Years Resolutions but still worthwhile thinking about it, eh?
  • For Happy New Year 2018 I had a great photo of being stuck on the 401 during a snowstorm, and links to previous New Year Messages.
  • 2017 I pointed out that you start paying CPP and EI again, so your net pay is going to be lower.
  • 2016 Happy New Year, just didn’t happen, not sure why, must have been having a grinchy holiday?
  • 2015 Happy New Year and I included a really bad joke about it being the year of the RAM in the Chinese Calendar.
  • 2014 Happy New Year again I pointed out that CPP and EI rates were increasing as well, I really am a kill joy.
  • 2013 was a Happy New Year, a celebratory Sunday was the photo to start the year.
  • 2012 I used to post best of Twitter posts, and it seems to have fallen on a Sunday as well.
  • Merry New Year! It All Starts again…  was how 2011 started, and I included a bunch of resolutions in that article.
  • 2010 New Year began with me in a new job, which was very nice, given I had been unemployed for a while.
  • 2009 started a little bleak, in that I was unemployed, and was looking for a job, during a major economic crisis.
  • Belated Happy and Prosperous New Year was how 2008 started, the economy was booming, employment was high, but there were hints of the systemic failure that was coming soon.
  • Good Bye 2008, outlined the eventful year that it was for me. Things got better, but a lot didn’t go right that year.
  • A New Year Brings Tax Breaks? The tax breaks appeared in 2007 but later disappeared, unfortunately.
  • 2006 I was still figuring out what this whole thing was going to be, but I did show some signs of a ranting good time.

Yes, I really did start in 2005.


Random Thoughts from the Past

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