To all the Fathers out there, I wish you an early Happy Fathers Day (never sure where the apostrophe goes here). I am lucky to be a Dad, and also a GrandDad but just hoping for a quiet Sunday.
As I have said before, most Dads will be happy to hear from you however way you wish, and just want to know you are Safe and Happy. During these more interesting times, that is truer than ever.
So, that COVID thing seems to have been a big scam eh? Like President Trump said, it would go away, if we stopped testing, much like my debt would go away, if I stopped looking at my bank balance? In Canada, we seem to be doing OK, but I have guarded optimism now. I am certainly glad my dentist is seeing folks again (having an infected tooth is another exciting part of the lock down).
With Ontario (except Toronto) opening up, but the US border staying closed, we may do OK, but it might be a little early for optimism.
I have spent this week unsubscribing from over 50 email newsletters that have been bombarding my inbox. The actual number I think is higher, and I will be on it for a while. I have a new credo to live by.
If I delete an email twice in a row (BEFORE reading it), I must unsubscribe from it.
BCM Quarantine 2020
I would wake up and have over 200 unread emails each morning (after cleaning my inbox the previous evening). This needs to be changed, so a new project was born. And I still do not allow cold call Guest Post requests either.
Inflation is negative for a second month? Interesting numbers but all must be taken with a grain of salt for now.
| Inflation (year over year May 2020) | -0.4 % |
| Bank of Canada Overnight Rate May 21st | 0.25% |
| Unemployment Rate (as of May 2020) | 13.7% |
| GDP Growth (Q1 2020) | -2.1% |
| Population of Canada (Jan 1, 2020) | 37.894 Million |
| CIBC current prime rate | 2.45% |
| BMO current prime rate | 2.45% |
| Scotiabank prime lending rate | 2.45% |
| TD prime lending rate | 2.45% |
| Tangerine prime lending rate | 2.45% |
Past Writings
Somehow I have managed to get “busy” and haven’t written much lately. The summer has arrived at least? Having health issues at the same time, does kind of distract you.
- What to do with Found Money (update) goes back over a topic I have hit a bunch of times, what to do with found money (pay down debt). Michael James’ commentary is interesting.
More Financial Writings for Dads Everywhere
Fathers Day will be different for many of us. Should you visit? Maybe a Video Visit? Either way, your Dad would love to hear from you (in most cases). My Dad has been gone a while, but I still think of him often.
- Borrowing to Invest – Borrowing money to invest is like weaving through traffic. You’ll get to your destination sooner as long as nothing bad happens (quote from MJ (also a noted Father as well)).
- Milburn Drysdale from BC Autism Funding, brings us a COVID-19 Special, and as usual, no matter where you live, if you have a loved one trying to get Government funding, you should read this.
- Special payment coming for people with disabilities, but only if you qualify for the DTC ? Well, not quite yet, it is now lost in parliament, but it points out the importance of having a DTC.
- I had no idea the world of Art in Canada was so devious and cut-throat but the TVO piece on There are No Fakes really opened my eyes.
- Are you Benchmarking your investments – now and forever ? The Blunt Bean Counter thinks you really should.
- Canadians now owe $1.77 for every dollar they have to spend, according to data from Stats Canada. That is staggering to me.
Tweets of the Week
I follow the OPP East Region mostly to see these kind of tweets. There is a lot here, but it is as close to “speed shaming” as we can go in Canada.
Would I be showing my age, if I said I remember seeing this on its first run in the 70s?
Videos of the Week
Preet has been pumping out video content about all the new COVID19 programs, and here is another good one. CERB goes on, as does his luscious beard?
Random Thoughts from the Past
- Boxing Tuesday, Opening Up and #MoneyTalk (May 16th)
- Opening up, May Day, COVID19 and #MoneyTalk (May 1st)
- Unemployment Spikes, Easter and #MoneyTalk (April 11th)
- Covid-19, Stay Home and #MoneyTalk (March 27th)
- Dusty Typewriters and #MoneyTalk (November 8th)
- March Madness and #MoneyTalk (March 30th)
- Lent Begins and #Moneytalk (March 6th)
- Christmas Treats, RESPs, The Markets and Polkas and #MoneyTalk (December 17th)
- GM, PC M/C Changes, Podcasts and #MoneyTalk (November 30th)
- RDSP Awareness , Volatility and #MoneyTalk (October 12th)
- Tech Infiltration , NAFTA/USMCA, WiFi, Tornadoes and #MoneyTalk (October 5th)
