October 2011 Miscellaneous Economic Fundamentals
- Thread starter Ally
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- Mar 24, 2009
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Stimulus should be a last resort
For too long, too many countries have behaved irresponsibly, trying to be all things to all people, producing societies dependent on government programs. Such policies have brought their economies to the brink of bankruptcy. Sadly, in today's interconnected global society, the mistakes of some countries will necessarily impact us all.
Currently, Canada is threatened by the debt crises in both the United States and the European Union. These governments, rather than confront their unsustainable spending habits, are trying to stimulate their ways back to economic health - as if borrowing more money will somehow solve their debt crises. And don't be fooled by the relatively strong position of the Canadian economy either, for it is just that - relative. As a speaker at a recent policy conference in Ottawa cautioned, Canada should be careful not to thump its chest too much: We are no more than "a tall midget."
Read the full article here.
For too long, too many countries have behaved irresponsibly, trying to be all things to all people, producing societies dependent on government programs. Such policies have brought their economies to the brink of bankruptcy. Sadly, in today's interconnected global society, the mistakes of some countries will necessarily impact us all.
Currently, Canada is threatened by the debt crises in both the United States and the European Union. These governments, rather than confront their unsustainable spending habits, are trying to stimulate their ways back to economic health - as if borrowing more money will somehow solve their debt crises. And don't be fooled by the relatively strong position of the Canadian economy either, for it is just that - relative. As a speaker at a recent policy conference in Ottawa cautioned, Canada should be careful not to thump its chest too much: We are no more than "a tall midget."
Read the full article here.
- Joined
- Mar 24, 2009
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How to wreck your retirement
How can you wreck your retirement? Let me count the ways. There are at least 52, according to BMO Retirement Institute head Tino Di Vito, whose first book was launched last night.
I used to joke about selfwrecked RRSPs, but the Wiley-published 52 Ways to Wreck Your Retirement provides an "anti-tip" for every day of the year.
In a testimonial, BMO Nesbitt Burns chairman Jacques Menard says the book should help Canadians prepare for retirement in an increasingly complex environment of "global uncertainty and volatility." In addition to being one of Di Vito's big bosses, Menard is vice-chairman of the federal Task Force on Financial Literacy.
Read the full article here.
How can you wreck your retirement? Let me count the ways. There are at least 52, according to BMO Retirement Institute head Tino Di Vito, whose first book was launched last night.
I used to joke about selfwrecked RRSPs, but the Wiley-published 52 Ways to Wreck Your Retirement provides an "anti-tip" for every day of the year.
In a testimonial, BMO Nesbitt Burns chairman Jacques Menard says the book should help Canadians prepare for retirement in an increasingly complex environment of "global uncertainty and volatility." In addition to being one of Di Vito's big bosses, Menard is vice-chairman of the federal Task Force on Financial Literacy.
Read the full article here.
- Joined
- Mar 24, 2009
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- 16,743
5 cheap design touches to increase your home's value
When someone comes to look at your home, you have very little time to make a good first impression. It's said that, within the first minute of entering your home, most buyers may have already made a decision not to buy based on some things that seem trivial in the larger scheme of things. In this article, we'll look at five cheap fixes that will help you get them past that critical first minute and closer to buying your home.
Read the full article here.
When someone comes to look at your home, you have very little time to make a good first impression. It's said that, within the first minute of entering your home, most buyers may have already made a decision not to buy based on some things that seem trivial in the larger scheme of things. In this article, we'll look at five cheap fixes that will help you get them past that critical first minute and closer to buying your home.
Read the full article here.
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- Mar 24, 2009
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The rental complex
Home ownership, the Canadian Dream`Barry Bradey lived it with gusto. Over the past decade, the health and finance entrepreneur owned three houses in the affluent Toronto suburb of Oakville, and watched each soar in value. But after a divorce and a business failure, he needed cash on hand. So last fall Bradey (who asked that we use a pseudonym) did some back-of-a-napkin math. The 3,500-square-foot house he wanted would cost about $850,000. Even with $400,000 down, the mortgage would cost him roughly $3,000 a month. Add property tax and maintenance and `that`s $5,000 a month before you turn on the lights.` Utilities, insurance and various amenities would be another grand. He also figured the downpayment came at an opportunity cost of about 6%, equivalent to another $2,000 or so a month. He bounced these numbers off a local realtor friend; she thought the carrying cost should be closer to $12,000. Nevertheless, she insisted the house was worth the money because it was `an investment.`
Read the full article here.
Home ownership, the Canadian Dream`Barry Bradey lived it with gusto. Over the past decade, the health and finance entrepreneur owned three houses in the affluent Toronto suburb of Oakville, and watched each soar in value. But after a divorce and a business failure, he needed cash on hand. So last fall Bradey (who asked that we use a pseudonym) did some back-of-a-napkin math. The 3,500-square-foot house he wanted would cost about $850,000. Even with $400,000 down, the mortgage would cost him roughly $3,000 a month. Add property tax and maintenance and `that`s $5,000 a month before you turn on the lights.` Utilities, insurance and various amenities would be another grand. He also figured the downpayment came at an opportunity cost of about 6%, equivalent to another $2,000 or so a month. He bounced these numbers off a local realtor friend; she thought the carrying cost should be closer to $12,000. Nevertheless, she insisted the house was worth the money because it was `an investment.`
Read the full article here.
- Joined
- Mar 24, 2009
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5 reasons to choose a variable rate mortgage
One of the big decisions homeowners face is whether to choose a fixed- or variable-rate mortgage. Now may be the time to go variable.
A fixed-rate mortgage locks in an interest rate and the payment stays constant over the term. For new homeowners taking on a huge debt, this may help them sleep at night. You pay more, but you know exactly what the payment will be for your entire mortgage term.
Read the full article here.
One of the big decisions homeowners face is whether to choose a fixed- or variable-rate mortgage. Now may be the time to go variable.
A fixed-rate mortgage locks in an interest rate and the payment stays constant over the term. For new homeowners taking on a huge debt, this may help them sleep at night. You pay more, but you know exactly what the payment will be for your entire mortgage term.
Read the full article here.