In this 2016 financial snapshot, we explore Canada’s tuition cost increases, the economic implications of loose money policies by the Bank of Canada, and how distractions like iPhone 7 launches pull focus from bigger financial issues. Featuring thoughts on CCB impacts, textbook expenses, and provincial cost disparities. Keyword: tuition costs in Canada
Last week, we said goodbye to the Olympics and as well, to the Tragically Hip. I was never a rabid Hip fan, but I enjoy a great deal of their music (and if you listen closely to the lyrics, you might just learn something about Canada). Some might say, life goes on , but that doesn”’t mean we can”’t feel sadness about the passing of time. Also, the summer is also almost over.
Ouch!
How much are you willing to pay to save your life? The entire price of EpiPen silliness in the U.S. really does make me wonder if big drug companies assume they are like banks and can charge whatever they want, and there will be no repercussions. As a stockholder in Pfizer (still) I suppose I am a hypocrite for making that comment. However, Pfizer’s big money-maker is still Viagra, and if you want to gouge men who want to have a drug which has a possible side effect of “… an erection lasting more than 4 hours…”, then so be it.
I was disturbed to read the Ontario Ombudsman’s report “Nowhere to Turn”, where the Ombudsman called for systemic overhaul to help adults with developmental disabilities in crisis. The quote in the report that concerns me is:
There is still marked inconsistency in how limited funds are prioritized and distribute and families struggle with interminable waitlist delays, leaving some so desperate that they have abandoned their loved ones.
Ontario Ombudsman
My Writings for Week Ending August 26th
I started the week writing about inflation, and the arithmetic cogitations that make the numbers appear good, but the calculations that tell a different story, with Electricity Prices Continue to Sizzle in July. Electricity prices continue to go up (especially here in Ontario), while gas prices appear to be dropping which are nullifying the effects of the electricity price jump. Fun with Numbers.
I also had a lovely conversation with one of my favorite folks, Kerry from Squawkfox, and she was doing research for some work she is doing for the Globe and Mail. The topic of RESPs came up, and I remembered that I had started an article RESP Proof of Enrolment and its importance to the cashing out of the RESP funds, so I finished that one off. I typically get inspired when I chat with smart money folks, so thanks Kerry.
Early retirement seems to be the battle cry of the 30 year olds these days. Why? What are you going to do? Get out of debt at 30, that is a noble goal.
The Canadian Ladies are carrying the load for the Canadian Olympic team, and, as the father of 3 amazing daughters, I am proud to see it. Maybe Canada has tripped into a new funding idea? Equally funding female athletics, since we seem to win in those areas? How about equal funding, because that is what is fair? Just saying. Oh, and don’t mention Women’s Beach Volleyball attire to Kerry from Squawkfox. You might get an earful (rightly so, of course).
The Canadian economy is undeniably losing jobs at present. The latest Labour Force Survey by Stats Canada reveals a staggering drop of 31,000 jobs, with a much more severe decline of 71,000 full-time positions over the past 12 months. Although there has been a 0.4% increase in the total number of hours worked during the same period, it is baffling why there are fewer jobs and yet more working hours.
Unemployment is up 0.1% to 6.9% (year over year), which is still lower than some of the darkest days of this century, it going up is never a perfect thing.
In my age group (the over 55 crowd) there are more jobs, but that is a bit mis-leading, because there are more of us (and luckily we brought jobs with us). Fewer folks are working in the Public Sector as well (the Private Sector is unchanged), but I keep saying it is better to have a strong Private Sector (in terms of employment).
Employment and unemployment rate, Canada, seasonally adjusted
My Writings for Week Ending August 12th
I didn’t write anything this week, or more precisely, I didn’t publish anything this week. I have a backlog of 245 started but unfinished works. I was thinking of publishing a poll and asking what you want me to write about, but feel free to leave a comment here saying what you’d like me to look into. This is not to say that I have not been active on Social Media (I am a Social Media Madman). As millennial age, the question of retiring early comes up, so my article How Do I Retire at 35 ? keeps getting a lot of reads.
Fun Graphic for the week
I would love to find a graphic for Canada like this, but it is fun to see who are the most rich folk in the U.S. of A., funny there is no Big Cajun Man mention there…
