A Sweltering Summer of Random Financial Thoughts

How Hot is it?

The summer in Ottawa is now on full swing, with sweltering temperatures and wild weather. Sunday we had a microburst which destroyed a stage at Bluesfest (and almost wiping out one of my favorite bands Cheap Trick!), which caused widespread damage all over the city. With these high temperatures we start wondering whether the Ontario Hydro grid can withstand the heavy usage?

With the phone hacking crisis in the UK, this could mean more fun and games in politics. The U.S. credit ceiling issues are actually much more dangerous (fiscally), but the UK phone hacking scandal is much more salacious (like the UK tabloids), and really do seem to capture the imagination of the viewing public. It is actually a good thing since it keeps pushing the posturing U.S. politicians off the front pages.

Some OK economic news from the bank of Canada, but still some bleak discussions in the U.S. about their debt ceilings as well:

• With who takes care of the money? I delve into a very tricky area of relationships and that is who controls the money.
• What you need is what you have was the message I wanted to get across. Stop wanting things you don’t need, and enjoy what you have.
• The Bank of Canada continued with loose money policies in bank rates hover in Canada again, which is OK for now, but if any of the terrible economic things that might happen transpire, this may change very quickly.
• The Canada Learning Bond is an important new part of the RESP program you should apply for it, if you are eligible
• Random Thoughts: Debt Ceilings and Floors is a recap of the previous week’s best posts.

I actually enjoy all comments (even the ones that question my sanity), and will try to respond to most comments, so please feel free to comment away. For you spammers who continue to inundate me with your drivel, keep it up as well.

There are no foam pies being thrown by the bloggers this week, but they make some very pointed statements:

• Gail Vaz-Oxlade gives us a financial lesson from Dr. Seuss with her post about The Sneeches (with and without Stars upon Thars), I was more of a Hop on Pop fan, but still the point is well made.
• Michael James (who is a pretty good poker player I hear) talks about Irrational Risk Avoidance (in investing, not necessarily poker), and he points out some of the odd “safe” choices we make in our investing lives.
• Canadian Capitalist points out that the RBC Corporate Bond ETF, but also points out it isn’t anything he was thinking of buying into any time in the near future either.  At least the management rate on it seems fairly low.
• Million Dollar Journey helps us out with more Little-Known Canadian Benefits for Seniors, which is helpful even for those of us who are not quite seniors (yet).
• Our old friend Jim Yih brings us a guest post but about a topic I love to chat about too Improving Your Physical Health for Retirement, don’t end up being unable to enjoy the retirement you planned and saved so hard for!
• Preet who was again on the Lang & O’Leary Report this week (or is it the Lang & Banerjee report now) and asks Are you a Don’t Do it Yourself Investor? I am, I know just enough to be very dangerous to my own portfolio.
• My Own Advisor brings us Why I Left the Mutual Fund Industry another convert to the Index fund world?
• Yes I am Cheap points out that with success comes imitation which is the sincerest form of flattery, thus Fake Apple Stores Pop up in China, which is no big surprise given Apple’s huge numbers this week. Apple is no longer the counter-culture, it is now Big Biz!

Remember

Don’t cry because it’s over. Smile because it happened.

Author: Dr. Seuss (hope it happens soon)