Mahdi Posted July 30, 2009 Share Posted July 30, 2009 Thanks Andrew. HST becomes effective here next June as well, so housing prices go up 7% automatically next year, another of the reasons we bought this year. Quote Link to comment Share on other sites More sharing options...
Sneakgab Posted July 30, 2009 Share Posted July 30, 2009 What is HST? Harmonized Sales Tax? So there is more tax on houses making it more expensive for buyers (but sellers get the same, the govt is the one getting the extra cash). Is that right?''Bank of Canada states there will be growth this quarter. Recession is over. Yah! Canadian dollar is increasing in value, so this will hurt the economy. But it means cheaper imports (electronics) yah!''I'm just curious why are you so ready to think this prediction is correct (never mind honest error, it could even be intentional dishonesty). Does the Bank of Canada have a history of honesty and correctness (unlike, apparently, many financial institutions).Don't really know anything about it obviously, just curious. Quote Link to comment Share on other sites More sharing options...
Andrew Posted July 30, 2009 Author Share Posted July 30, 2009 wikipedia explains them:http://en.wikipedia.org/wiki/Sales_taxes_in_CanadaIt pretty much merges provincial sales tax (PST varies in each province from 0% to 10%) and federal goods and services tax (GST 5%). There is oppostition to it by many people, usually the lower income who complain the price of some goods (clothing) will be taxed more than before (as they were exempt from PST).About the recession being over, and Bank of Canada. They are usually a good organization. Not perfect, but there is usually lots of good statistical data to prove what they say. When they announced recession is over this quarter, that doesn't mean economy is back to normal, it just means that GDP will no longer be negative and no longer technically be in a recession We won't know if this prediction by bank of Canada is correct until the quarter is over, but they should be close unless something unexpected happens.So technically we will be out of a recession, but the economy will still suck (unemployment rate will stay high). Quote Link to comment Share on other sites More sharing options...
Sneakgab Posted July 30, 2009 Share Posted July 30, 2009 Oh yeah. Silly me, kind of forgot about the technical definition of recession. That the growth rate will no longer negative is saying much less than the ''bad times'' will be over. Quote Link to comment Share on other sites More sharing options...
Khan Posted August 1, 2009 Share Posted August 1, 2009 http://www.telegraph.co.uk/finance/markets/5952111/FTSE-100-stock-market-has-best-month-in-more-than-six-years.htmlJuly was the best month the FTSE has had for 6 years.Nationwide even suggested house prices could do the Quote Link to comment Share on other sites More sharing options...
Andrew Posted August 1, 2009 Author Share Posted August 1, 2009 US STOCKS-S&P 500 sees best 5-month streak since 1938Yep, we are heading back to another bubble. Should have bought into US stock market when it was DOW 6500. Could have made a killing.Gas went up 5 cents (6%) today. I doubt it has anything to do with Monday being a holiday, an thus lots of people driving around this weekend. ::) Quote Link to comment Share on other sites More sharing options...
Andrew Posted August 3, 2009 Author Share Posted August 3, 2009 'Cash-for-Clunkers' Program Runs Out of moneySo $1 billion gone already (2 weeks, expected to last 6 months, so they get to call it a success). People who had old polluting gas guzzlers got paid to upgrade. People responsible enough to already have fuel efficient vehicles before the program took place got nothing. Once again irresponsible (or couldn't afford fuel efficient) got cash payout. Hurray!I've heard they want to add many more billion ($5 billion total?) to the program. Sounds like a way for gov to interfere with market and encourage people to buy new vehicles to save the now government owned auto companies, and the other companies government gave hundreds of billions in bailouts.So we get:1. Government financially supporting auto companies to keep them operating and taking ownership of one.2. Government giving citizens money to spend on new cars to support the companies they financially supported.3. Government financially supporting banks4. Government encouraging Americans to take on more debt by upgrading vehicles and getting loans from banks.So where did USA gov get money to spend on auto companies, and where did gov get money to give to citizens to get them to buy stuff? I thought USA still had record deficits? Oh well, ignore what is behind the curtain.I'm all for government making encouragements for all people to make better decisions, but the way they did this may not be ethically or financially sound. This sounds like parable of broken window.A high gas tax would have solved many (all?) problems. But that is political suicide, and ZOMG America would be closer to a socialist country!EDIT:Top Cash for Clunkers Trade-Ins and New CarsHoly crap Americans hate Ford Explorers. It was # 1, 2, 3, 4, 7, 8, 9, vehicle traded in. 7/10.Honda fit looks like a nice car. Quote Link to comment Share on other sites More sharing options...
exatreide Posted August 5, 2009 Share Posted August 5, 2009 Ford Focus's were also the number one car purchased. Quote Link to comment Share on other sites More sharing options...
Andrew Posted August 12, 2009 Author Share Posted August 12, 2009 Remember how GM needed bailout money and in return would deliver green fuel efficient cars?Well now that they have taken the bailout money, they've announced they are delaying the release of Volt until 2011.So we give these big companies lots of $$$ and in return they "promise" to deliver something in the future.How about handing out $$$ when companies actually deliver a product?Remember when GM had built an electric car in 1979? How about when they made it in the mid 1990s called EV1, and they recalled and scrapped every one. Government is very corrupt to give money for a promise that was made by a company 30 years ago. Quote Link to comment Share on other sites More sharing options...
Sneakgab Posted August 13, 2009 Share Posted August 13, 2009 Maybe they thought with rising fuel prices they would actually keep it then since that would be the more profitable path. Of course, they would then be paying the company to do what it was going to do anyway...Supposedly it's all about saving big companies because the economy needs them and if they go down then everybody suffers.Lessee.... if the government took that 700 billion dollars, and gave it to the people in the form of social services, OR didn't spend it at all, so there wouldn't need to be huge cuts in said services in the future in order to repay the debt, would the people be worse off in both of those options than in the option of bailing out the big companies? Quote Link to comment Share on other sites More sharing options...
Dante Posted August 19, 2009 Share Posted August 19, 2009 So here's an idea. What with bailouts and bonuses and the like (and how the presence of one should logically dictate the absence of the other, funny how that hasn't happened), a novel idea sprung out at me whaen I opened the newspaper today.No more banks. Bye bye massive overheads, farewell everyone and their cousin taking a cut, au revoir fat cats. And as the writer himself states, this isn't a theoretical dream from the radical left, it's already in practice today.The article in full can be found here along with reference links, but for ease of reading (and because I don't know how long it will stay online), I'll paste it below.I imagine that it won't be ideal for everyone. There will be those (Edric?) who will argue that borrowing and lending shouldn't be necessary at all to remain comfortable in life. But it's a step in the right direction.Don't just howl with rage. Try an idea that does away with banks altogetherJonathan FreelandHere's a figure to chew on, though you may find yourself choking. It comes from the US, but there are similar numbers in the UK, too. Remember those banks that were so close to collapse, so desperate and needy they held out the begging bowl and pleaded with the taxpayers for help? Well, it turns out that nine of those banks Quote Link to comment Share on other sites More sharing options...
Rene Posted August 19, 2009 Share Posted August 19, 2009 That's a very interesting development, I hadn't heard of it yet. Who knows what this will become in the next couple of years. Quote Link to comment Share on other sites More sharing options...
Andrew Posted August 20, 2009 Author Share Posted August 20, 2009 Hedge fund bets millions that gas price will tripleWouldn't be surprised. According to article same thing happened before the $150 barrel prices. Quote Link to comment Share on other sites More sharing options...
Andrew Posted August 26, 2009 Author Share Posted August 26, 2009 Toyota Prius prices increased as demand increased because of cash for clunkersGovernment gave out money for cash for clunkers. It increased demand. Dealerships increased prices on vehicles to offset the amount a person got from government. Good job government. Make the dealerships money, and the consumers get screwed over again. Quote Link to comment Share on other sites More sharing options...
chatfsh Posted August 26, 2009 Share Posted August 26, 2009 Fun with Bernanke and Geithner. :) Quote Link to comment Share on other sites More sharing options...
Andrew Posted September 5, 2009 Author Share Posted September 5, 2009 Canada adds 27,100 jobs in AugustThey were all part time jobs, but it was a surprising figure as they were expecting negative numbers. More good news for Canada, and more data to show the recession is going to be over soon (definitely by end of year).USA lost over 200,000 jobs in august. On per capita basis, Canada is kicking USA butt when it comes to employment.Alberta bleeds jobs in August. Unemployment rate hits 7.4% as 6,700 positions cutAlberta still hurting. No surprise they have boom and busts every 15 years or so, pretty much depends on oil prices. Quote Link to comment Share on other sites More sharing options...
Khan Posted September 9, 2009 Share Posted September 9, 2009 http://news.bbc.co.uk/1/hi/business/8214272.stmSee the recession in slidy fun! Quote Link to comment Share on other sites More sharing options...
Andrew Posted September 12, 2009 Author Share Posted September 12, 2009 Canada’s Harper Revises Budget Ahead of ElectionsSo because of the thread of an election, the finance minister decided to double the estimate of debt incurred until 2015.Canada’s non-partisan parliamentary budget office released a report on July 8 saying the federal government would see deficits totaling C$156 billion over the next five years. Flaherty at the time said that was too pessimistic. Nice of finance minster to dismiss those projections, and then revised his own estimate to look exactly like theirs.October 2008: no deficit (election promise)Jan 27, 2009 deficit: 34 billionMay: 50 billionThis week: 55 billionKeeps piling up. Definitely going to spend their way to a majority :PIgnatief is dumb for saying he is against a coalition, when he signed papers saying he supported a coalition December 2008.If fall election comes true, that is 4 elections in 5 years. Crazy. And we'll still end up with a conservative minority. Only interesting part will be if Liberals gain seats they lost last election, and if Green get 1 seat.US gold ends above $1,000/oz in flight to quality Quote Link to comment Share on other sites More sharing options...
chatfsh Posted September 12, 2009 Share Posted September 12, 2009 US gold ends above $1,000/oz in flight to qualityYes, but gold prices have been kept artificially low through manipulation in the COMEX, despite the increased rate in which central banks have been buying up gold to bolster their reserves. In other words, gold prices should be much higher than they are at this juncture. One must understand that these are complex market systems prone to manipulation and suppression of commodity rates. But this type of interference can only go on for so long before it breaks, catapulting prices to their proper levels. I anticipate that the trend in gold prices will continue to climb if left unimpeded by outside (read artificial) market forces. Quote Link to comment Share on other sites More sharing options...
Andrew Posted September 12, 2009 Author Share Posted September 12, 2009 We havn't even had inflation yet, so if it is at $1000 before any inflation hits, then yes I wouldn't be surprised at $1200 or more by end of next year (maybe even hit 1500?). Quote Link to comment Share on other sites More sharing options...
chatfsh Posted September 12, 2009 Share Posted September 12, 2009 Indeed, the market believes that inflation is on the way as the dollar continues to weaken on fears that the Federal Reserve will not withdraw money quickly enough to stave off the inevitable deterioration of the greenback. Regardless, President Obama continues to expand our national debt, anticipating the sell of another $2.9 trillion of debt over the next two years. Precious metals are often a hedge against inflation since at the end of the day, gold and silver will always be worth something while paper currency could become absolutely worthless.China is urging its citizens to buy gold and silver. Due to the sheer size of their population, if the campaign works, it will have a significant impact on the price. Some analysts speculate that gold prices could reach $1200/oz by the end of the year. Around this time last year, the speculation was that it would be between $1500 and $2000. Whatever artificial market pressures prevented this realization are finally starting to diminish and the price is finally rising to proper levels. Quote Link to comment Share on other sites More sharing options...
chatfsh Posted October 2, 2009 Share Posted October 2, 2009 Recovery? What recovery?The latest U.S. job loss figures were higher than expected inching the unemployment rate up to 9.8%. Only that Quote Link to comment Share on other sites More sharing options...
Andrew Posted October 2, 2009 Author Share Posted October 2, 2009 B-b-but the job loss numbers have been decreasing! Everything is getting better./sarcasm. There is still a net amount of people losing jobs, yet you'll see people saying it is a good thing because the number is decreasing. Guess what? Eventually there are no more people to fire :PThis graph shows that unemployment problem is fixed. ;)PSA: The graphs on that website kick ass. Go here and lots of graphs to suit every need. Quote Link to comment Share on other sites More sharing options...
chatfsh Posted October 12, 2009 Share Posted October 12, 2009 Subprime mortgage loans may have started the economic avalanche, but now the affluent home owners are beginning to default at accelerated rates, making up 30% of the total bankruptcies. As home values continue to drop leaving owners with mortgage loans that exceed the actual value of their homes, more of the people are simply walking away from their investment. I believe this is referred to as a strategic default Quote Link to comment Share on other sites More sharing options...
Tatar Khan Posted October 13, 2009 Share Posted October 13, 2009 Subprime mortgage loans may have started the economic avalanche, but now the affluent home owners are beginning to default at accelerated rates, making up 30% of the total bankruptcies. As home values continue to drop leaving owners with mortgage loans that exceed the actual value of their homes, more of the people are simply walking away from their investment. I believe this is referred to as a strategic default Quote Link to comment Share on other sites More sharing options...
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