Holy cow, interest rates went up another ¼ point this week, and the media is wetting itself. Surely it is time to panic? Not yet, but a single jump could have been an isolated event, two could signify a trend. Was this not expected, is the only question to ask. The Canadian economy seems to have gone off the rails in terms of growth, and the Bank of Canada feels it needs to put the brakes on things, so this looks like a trend.
The Canadian Dollar has jumped in reaction to this rate rise. Your Canadian dollar can buy more, but your Canadian products are now more expensive on the open market too.
My vacation didn’t go that well, but I did have a nice conversation with Doug Hoyes. Doug will attempt to make it sound coherent and there will be a podcast about a few things soon. Doug is an interesting chap to chat with, given he is a Bankruptcy trustee. I learned that before you claim bankruptcy you need to actually show your spending habits and all your assets to the trustee. Maybe folks should do that now, so they can figure out where the problems are before you call Doug?
Gasoline is back to over $1.20 a litre in Ottawa, and it is not likely to drop any time soon is the predictions from Gas Buddy and such. I guess I am glad I drive a Corolla, might be time to look at electric cars, or better still going back to a single vehicle for the family.
The NFL season has begun, and I wonder how long will this sport continue? I have loved football my entire life, especially the NFL, but given the concussion findings that are coming out, I just wonder how much longer the sport can continue? Some have suggested better equipment might change things, but I am not that optimistic. My guess is that football has about 10-15 years until it will fade away. Economically the question what will the economic impact of this multi-billion dollar industry disappearing have?
No, I am not getting into the travel blogging world, far too competitive. The Big Cajun family went on vacation so we figured we’d publish some Big Cajun Vacation Tips. The vacation didn’t go as expected with my son getting a nasty strep throat, but it was still enjoyable. I also did a bit of work, chatting with Doug Hoyes, there is a Podcast planned out of those sessions.
What is the Importance of Financial Reports? Do you put together IKEA furniture without reading the instructions? Why don’t you read your financial reports ? You need to at least be able to understand your Credit Card Bills, and Bank statements, or you will be in trouble.
I tip my hat to David Letterman with Stupid Bank Tricks, showing some of the things I have done to make my bank actually help my financial plan.
I like when a tweet is self-contained and this comment by John Bogle is just that.
— Blackstone Wealth (@BlackstoneWM) September 3, 2017