Random Thoughts: Loose Money Continues on in Canada

Given the Bank of Canada keeps repeating itself, I decided doing an actual post on the fact that the Bank of Canada kept it’s overnight rate at 1% was getting a bit redundant. Given the current state of the Canadian (and world) economy the Bank of Canada decided to keep with the loose money policy that they have had in place for the past long while. The reasons given for this were actually a little more interesting than normal, however:

The recession in Europe is now expected to be deeper and longer than the Bank had anticipated in October.

Well that is not really news, but the Bank of Canada admitting they made a mistake is a bit of news. Will Europe suck the whole globe into the great Economic Abyss? I don’t think so, but it may cause a much longer period of lower interest rates, which might be a good thing for some individual consumers, it all remains to be seen.

The Canadian Taxpayers Federation are now attempting to put the clamps on the Platinum Plated MP Pension Plan which seems to be a pretty sweet deal (makes me want to run for Federal Politics). Their report alleges that for every dollar put in by the MP, Taxpayers must cough up $23.30 and they also point out that this isn’t really a pension as much as a major portion of the National Debt. I love political rhubarb and finger-pointing, I wish them luck, however, they are also looking to go after the Public Service’s pension plan, which worries me a little.

Weekly Recap

With loose money continuing on, I didn’t really touch on the subject but did have an odd cornucopia of topics this week:

• On the Frigid North and Sunday’s Best I included a great video by Vinnie Jones that points out that in the UK anyone can do CPR, if they want to help.
• Pointing out why I am an insomniac with losing sleep and money still didn’t help me sleep any better.
• I did my bit for Bloggers for Charity with the guest post 16 Going on 30, and hopefully next time someone will bid to post on my site.
• My Quicken 2012 review was as much me saying thanks for giving me a copy to review, because I’d use this software no matter what.
• I am not well pleased with Suze Orman’s decision to put out a debit card and I state that in Let’s all Sell Out
• Random Thoughts: Happy Birthday to Me! is a recap of last week’s best.

And thanks to those who added me on Twitter I am now over 980 folks who follow me, wow!. Check out my facebook page as well.

Links for the Week

With ship wrecks, and the European economy still faltering there is a lot to be discussed in the Financial Blogosphere:

• Had a lovely chat with Gail Vaz-Oxlade this past weekend and she wonders if women are worried about becoming a bag lady?
• Mr. Money Mustache continues on the weight theme with how to be slimagain, it is lifestyle folks, not diet.
• Blunt Bean Counter extends his own bloggers for charity concept and talks about a Butterfly Garden – One Child’s Wish, who says accountants don’t care? (oh yes, ME, my bad).
• Larry MacDonald suggests a way to meet your 2012 savings goal through smart shopping a little more work, but a lot more money saved.
• Michael James makes an excellent point about how procrastination sometimes pays well with the cost of paying bills early
• Canadian Capitalist is comparing currency-hedged and unhedged holdings and which might be the better way to go with your portfolio.
• Sandy at Yes I am Cheap enlightens us on why cash for Gold is so popular, I think it is the ads on TV, myself.
• Our happy finance caballero My Own Advisor reviews Moneysense Guide to the Perfect Portfolio an interesting book by the sounds of it.
• Echo of Boomer and Echo points out rate increases could be something good if you are an Owner and not a Moaner of that service company.
• Mike at Money.Smarts is on vacation but digs up an old recursive chestnut about his online opinion on online opinions, circular though it may be interesting read no less
• The Physics of Finance analyses how there are many corporate psychopaths out there running your banks, and the banks want it that way!
• Miranda at Planting Money Seeds, wonders does your spending plan include investing? My plan includes paying off bills, is that investing?
• Preet let’s Tusk Trader write about High Frequency Trading: A Professional Trader’s Take and how day traders haven’t got a chance.

Carnivals this Week

I did make it into a few carnivals this week too:

• Prairie Eco Thrifter hosted the Yakezie Carnival – Credit Cards edition which included my story Make Your Hobby Pay.
• Diva in Debt hosted the Carnival of Personal Finance #344 which included my article resolutions for 2012

Remember

I’m spending a year dead for tax reasons.

Author: Douglas Adams