Cheap Gold, Cheap Oil, Weak Dollar, Election Week 1 and #BestMoneyStories
The Canadian Economy keeps taking it in the teeth these days, in terms of its over-reliance on commodities and the cheaper prices of Oil and now on Gold (Au). Gold now sits at a 5-year low in terms of its price, and it is making it less attractive to mine gold, thus doing jobs in mining scarce, to go along with the problems already seen in the oil patches. The lower Canadian dollar will make manufacturing jobs in Canada look more attractive, but we shall see whether that part of the economy awakes from it’s 9 year slumber. The Canadian NHL teams will also have issues with their revenues (given they must pay their players in US $).
Seems like maybe we should have thought about this when the Canadian Dollar was strong, and Oil was over $100 a barrel. Just saying.
Speaking of cheap Oil prices, glad to see gas prices aren’t dropping quickly, even with oil under $60 a barrel, but the price of gasoline has nothing to do with the price of oil, does it?
A sad farewell to Jon Stewart at the Daily Show, many a great quip has come from that show and its writers, we shall see whether it can whether Mr. Stewart’s departure.
The first “leaders” debate transpired last night, but my guess is, it wasn’t nearly as interesting as any debate that might include the “Master of Disaster” Donald Trump. He makes politics interesting again (or at least as interesting as UFC to watch). This week in the election we have had wagged fingers for the Tories and NDP calling Justin Trudeau by his first name (nice hair though), Mr. Harper promising that one day he might, if the budget is balanced, and oil goes back up in price, think about possibly bringing back the home renovation credit, and Mr. Mulcair mostly chuckling in the background, realizing he doesn’t have to open his mouth and he could win a majority. The Green party is doing something, and the Bloc has decided to run a stealth campaign of their own, maybe we’ll look back in on this lot in September?
My Writings for Week Ending August 7th
Well, I didn’t really write much this week, thanks to vacations and studying for my French Exams), but I did go through my archives and found some of my favorites from the past :
- A great financial understatement is really me commenting on my own dry commentary on the stock market implosion of 2008. Those were bad times, but thanks to that I managed to make some great investments? Yes, it doesn’t make a lot of sense, but that is how things work sometimes.
- Advice: Best Financial Advice Ever Given, is one of my favorite money related parable/joke that my Father told me, and this interesting icon on the right came from that exact same post as well.
- To give you an orthogonal response to the previous post, The Worst Financial Advice Ever Given, is me making a big mistake with a friend (and one of the reasons I don’t give out advice, except to my kids).
People call Ottawa the city where fun went to die, I think I disagree, it is the city where
fidelity went to die:
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