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Income Inequality In Canada: Ed Broadbent Wants To Give Tories 'A Good Shake' - 1 views

www.huffingtonpost.ca/...da-ed-broadbent_n_1949906.html income gap canadian challenges policies
shared by tyler wiliams on 18 Jan 13 - No Cached
  • tyler wiliams on 18 Jan 13
     
    most people don't realize that income inequality effects us all and not just the poor. Our market-driven ideology has lead to the increasing income gap and needs to be changed. The reductions of income tax. Not only reductions of income tax and the disproportionate benefits to upper-income [individuals] takes away the money that's needed for post-secondary education, for health care, for Canada pensions, worsening the income gap.
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Canada Household Debt Much Higher Than Previously Thought; Housing Bubble Bust-Out Now ... - 2 views

www.huffingtonpost.ca/...-housing-bubble_n_1967269.html Canadian debt finds higher housing bubble thought money household
shared by lebiez piranaj on 18 Jan 13 - No Cached
  • Canadians, you’re more indebted than you think.
  • StatsCan now says household debt amounted to 163.4 per cent of household income in the second quarter, up from 161.8 per cent in the first
  • Canadians are now carrying more debt than Americans and Brits were at the peak of their housing bubble half a decade ago
  • ...1 more annotation...
  • A recent Capital Economics report estimated a construction slowdown would cost 115,000 jobs across Canada
  • lebiez piranaj on 18 Jan 13
     
    Canadians are more than ever drown in debt. When it comes to comparing with the neighbor (US) we are carrying more debt than them. Market observers argued that Canadian consumers will no longer be able to hold up rising household debt.
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Canadian Household Debt: Poll Finds We May Be In Debt Longer Than We Think - 1 views

www.huffingtonpost.ca/...n-household-debt_n_940426.html canadian debt poll finds money saving tips
shared by lebiez piranaj on 18 Jan 13 - No Cached
  • TORONTO - If experience is any indication, many Canadians could find themselves in debt years longer than they originally expected, according to a new poll issued Monday by CIBC.
  • For example, Canadians 25 to 34 on average told the pollsters they expected to be debt-free by age 44. However, the poll found that only 18 per cent of those now in the 45-to-54 age group were, in fact, debt-free.
  • "Being debt-free is a long-term financial goal for many Canadians, and this poll suggests Canadians are actively looking ahead to the stage of life they will be in when they successfully pay off all of their debt,"
  • ...1 more annotation...
  • the poll also disclosed that many Canadians see themselves as having debt for the long term, with eight per cent of poll respondents believing they will be into their 70s before their debts are paid off and 10 per cent of respondents saying they will never be debt-free.
  • lebiez piranaj on 18 Jan 13
     
    According to a poll disclosed from CIBC, tells us that many Canadian are finding themselves in debt for longer periods of time then they had originally expected. 
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Average Consumer Debt in Canda past 26700 - 0 views

www.ctvnews.ca/...da-rises-past-26-700-1.1037894 Consumer debt
shared by Rohan Zahur on 17 Jan 13 - No Cached
  • Rohan Zahur on 17 Jan 13
     
    Canadian debt loads grew at their fastest pace in two years during the summer Canadian instalment loan borrower debt grew 2.3 per cent over the third-quarter of last year to an average of $22,849
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Stats Canada Discusses household debt - 0 views

www.theeconomicanalyst.com/...anada-discusses-household-debt Consumer Debt
shared by Rohan Zahur on 17 Jan 13 - No Cached
  • Rohan Zahur on 17 Jan 13
     
    Consumer debt as a percentage of income is highest in BC, Alberta, and Ontario where house prices are highest
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TSX moves higher as commodities strengthen - 0 views

business.financialpost.com/...-stocks-after-u-s-housing-data canada commodities resources
shared by Nikita Klyuev on 17 Jan 13 - No Cached
  • Nikita Klyuev on 17 Jan 13
     
    The S&P/TSX composite index rose 70.06 points to 12,404.40, as key commodities prices moved higher. The TSX Venture Exchange gained 2.11 points to 1,178.11. March copper declined about four cents to US$3.61 a pound while February gold bullion moved ahead $3 to US$1,673.70 an ounce. In Europe, the FTSE 100 index of leading British shares was up 0.6 per cent at 5,968 while Germany's DAX rose 0.2 per cent at 7,667. The CAC-40 in France was 0.4 per cent higher at 3,661.
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TSX advances, commodities rise on strong Chinese trade data - 0 views

business.financialpost.com/...e-on-strong-chinese-trade-data canada commodities resources
shared by Nikita Klyuev on 17 Jan 13 - No Cached
  • Nikita Klyuev on 17 Jan 13
     
    Canadian Natural Resources Ltd. and Suncor Energy Inc. added at least 0.9 percent as crude rose to a three-month high. Yamana Gold Inc. gained 4.5 percent as gold rose the most in six weeks. The market today is moving primarily on the Chinese data, so gold is up and crude is up which is very good for the Canadian market," said John Kinsey, fund manager with Caldwell Securities Ltd. in Toronto. His firm manages about C$1 billion ($1.01 billion). "Those are the two areas that have been dragging." Yamana climbed 4.5 percent to C$17.06 and Eldorado Gold Corp. advanced 3.3 percent to C$12.61 as gold futures for February delivery gained 1.4 percent to $1,678 an ounce in New York, the biggest gain for a most-active contract since since Nov. 6.
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Billionaire-backed commodity merchant buys natural gas assets - 0 views

business.financialpost.com/...rchant-buys-natural-gas-assets canada commodities resources
shared by Nikita Klyuev on 17 Jan 13 - No Cached
  • Nikita Klyuev on 17 Jan 13
     
    The firm acquired 180 oil and gas wells, 150,000 net acres in mineral leases, a gas processing facility and a 262-mile gas gathering system from Houston-based Patara Oil & Gas, it said in a press release. Dubin was listed as number 285 on the Forbes 400 list of billionaires in September 2012 with a net worth of $1.7 billion; Tudor was number 108 on the same list, with $3.6 billion.
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Closing Bell: TSX closes lower after World Bank cuts global growth forecast - 0 views

business.financialpost.com/...nk-cuts-global-growth-forecast canada commodities resources
shared by Nikita Klyuev on 17 Jan 13 - No Cached
  • Nikita Klyuev on 17 Jan 13
     
    February crude was up 96 cents at US$94.24 a barrel and the energy sector was down 0.35%. Canadian Natural Resources (TSX:CNQ) gave back 35 cents to C$28.74. The gold sector was off about 0.4% while February bullion declined 70 cents to US$1,683.20 an ounce. Barrick Gold Corp. (TSX:ABX) faded 34 cents to C$33.69.
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Stock markets lower after big gains, commodities lower as greenback strengthens - 0 views

business.financialpost.com/...ts-lower-as-commodities-weaken canada commodities resources
shared by Nikita Klyuev on 17 Jan 13 - No Cached
  • Nikita Klyuev on 17 Jan 13
     
    The S&P/TSX composite index fell 87.49 points to 12,453.32, giving back a good-sized chunk of last week's gain of almost two per cent, while the TSX Venture Exchange added 0.74 of a points to 1,228.96. The energy sector was down 0.8 per cent with the February crude contract on the New York Mercantile Exchange down 26 cents to US$92.83 a barrel. Suncor Energy (TSX:SU) shed 35 cents to C$33.22 and Talisman Energy (TSX:TLM) was 24 cents lower to $11.65. The gold sector slipped about 0.7 per cent February bullion fell $3.40 to US$1,645.50 an ounce. Agnico Eagle Mines (TSX:AEM) faded 79 cents to C$49.60 and Centerra Gold (TSX:CG) declined 14 cents to $9.20.
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The Enduring Consequences of Unemployment - NYTimes.com - 0 views

economix.blogs.nytimes.com/...g-consequences-of-unemployment consequences unemployment nytimes
shared by S C on 17 Jan 13 - No Cached
  • People who lose jobs, even if they eventually find new ones, suffer lasting damage to their earnings potential, their health and the prospects of their children
  • workers who lost jobs during the recession of the early 1980s were making 20 percent less than their peers two decades later
  • Losing a job also is literally bad for your health
  • ...6 more annotations...
  • when parents lose jobs. The study followed the earnings of 39,000 Canadian fathers and sons over 30 years beginning in the late 1970s. The study found the sons of men who lost their jobs eventually earned about 9 percent less than the sons of otherwise comparable workers
  • worker laid off at age 40 could expect to die at least a year sooner than his peers.
  • each day without work is a day without income, a drain on savings, an increased chance of default on debts
  • people who can’t find work become more likely as time marches on to suffer from depression and other health problems
  • there is some evidence that unemployment itself makes it harder to find new work, because unused knowledge and skills tend to atrophy
  • study found that unemployed people gradually lost the ability to read
  • S C on 17 Jan 13
     
    Unemployment itself has negative effects on people besides the obvious ones of having less money. People are more likely to become depressed, less likely to retain learned skills and it may even affect their children's earnings.
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Household debt - Wikipedia, the free encyclopedia - 0 views

en.wikipedia.org/...Household_debt household debt
shared by S C on 17 Jan 13 - No Cached
  • Household debt soared in the years leading up to the Great Recession
  • Twenty years ago, the average American household’s debt was 83 percent of its income; by a decade ago, that had crept up to 92 percent; but by late 2007, debts were 130 percent of income
  • All this borrowing took place both because banks had abandoned any notion of sound lending and because everyone assumed that house prices would never fall. And then the bubble burst
  • ...3 more annotations...
  • Household debt can be challenging to reduce. Major approaches include: 1) Paying down debt over time from income or accumulated savings, if available; 2) Debt write-down or refinancing via negotiation, bankruptcy or government bailout; and 3) Inflation.
  • Debt can be reduced via negotiation with creditors or a legal bankruptcy process
  • If wages increase due to inflation, but debts remain fixed, the debts can be more easily retired
  • S C on 17 Jan 13
     
    Household debt contributes to recessions and depressions, one major cause is banks lowering their lending requirements to make more money. Household debt can be reduced through income and savings, debt negotiations and inflation.
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Dealing with Debt: A Consumer's Guide - Office of the Superintendent of Bankruptcy Canada - 0 views

www.ic.gc.ca/...br01861.html debt consumer guide canada government
shared by S C on 17 Jan 13 - No Cached
  • You have a debt problem, or are going to have one, if: you continually go over your spending limit or you use your credit cards as a necessity rather than a convenience; you are always borrowing money to make it from one payday to the next; your wages have been garnisheed to pay for outstanding debts; you pay only interest or service charges monthly and do not reduce your total debt over many months; creditors pressure you for payment, threaten to sue or repossess your car, furniture or television, or hire a collection agency to recover the money for them; or utility companies cut off service because your bills have gone unpaid.
  • Possible Solutions
  • Contact your creditors Explain why you can't make your payments and suggest making lower payments over a longer period of time. You may be surprised by how many creditors are willing to accept such arrangements.
  • ...5 more annotations...
  • It is important to stop buying on credit. Continuing to use credit could make your debt load too great for you to handle.
  • Under the Bankruptcy and Insolvency Act you may make a consumer proposal to your creditors to reduce the amount of your debts, extend the time you have to pay off the debt, or provide some combination of both.
  • If none of the above methods solves your debt problem, you may choose to declare bankruptcy. Bankruptcy should be a last resort if you cannot meet your financial obligations through affordable payments over a specific period of time. Bankruptcy is a legal process performed under the Bankruptcy and Insolvency Act. Because of your inability to pay your debts, you assign all of your assets, except those exempt by law, to a licensed trustee in bankruptcy. This process relieves you of most debts, and legal proceedings against you by creditors should stop.
  • How does one declare bankruptcy? First, you meet with a trustee in bankruptcy who will assess your financial situation and explain the options available to you as described earlier. If you decide to declare bankruptcy, the trustee will help you complete several forms that you will have to sign. You are considered a bankrupt only when the trustee files these forms with the Official Receiver.
  • What is the effect of a bankruptcy discharge? The bankrupt is released of most debts. Some debts are not released, however, such as an award for damages in respect of an assault; a claim for alimony, spousal or child support; any court fine; a debt arising out of fraud or misleading representation; or debts or obligations for student loans if the bankruptcy occurs while the debtor was still a student or within seven years after the bankrupt ceased to be a student
  • S C on 17 Jan 13
     
    Canadian government article advising consumers about debt, such as recognizing danger signs, various methods to deal with it, and information on declaring bankruptcy in case consumers are unable to pay off their debts.
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7 Tips for Avoiding a Lifetime of Debt | PickTheBrain | Motivation and Self Improvement - 2 views

www.pickthebrain.com/...or-avoiding-a-lifetime-of-debt tips avoiding debt
shared by S C on 18 Jan 13 - No Cached
  • Buy what you need
  • The $70 dollar test
  • If you have a real problem with excess spending, try this test. For a week, give yourself $70 cash, and put away all credit cards. This forces you to live on $10 a day. When you are faced with a strict income, it forces you to be very careful in what you spend. It will make you realise what is really indispensable and which spending is mere extravagance.
  • ...8 more annotations...
  • For example, maybe you get two takeaway coffees per day and one pastry. This can easily add upto $15 a day, which is nearly $100 a week – that’s $5000 a year! We may be reluctant to spend $2000 on a computer because it is a big outlay. But, at the start of the year, would we be so keen to put aside a lump sum of $5000 just for the purchase of coffee and pastries
  • It is easy to forget how much we spend. For example, with credit cards we don’t see the money leave our wallet so it, somehow, seems less real
  • Quite often, by taking these steps we realize our previous spending habits were not at all essential to our happiness.
  • spend some time to learn about the workings of financial issues
  • Make sure you move the debt to the lowest interest paying account possible
  • By keeping interest payments as low as possible, it enables you to pay money to reducing the amount of debt, rather than just paying interest.
  • Spending does not equal happiness
  • If you rely on spending money to gain happiness, you need to think very carefully about whether this is a good way to get satisfaction in life. This is not to say shopping is always bad; the point is that spending money does not equate to real happiness.
  • S C on 18 Jan 13
     
    Some ways to deal with debt are limiting yourself, thinking before spending (do I really this?), using cash instead of credit cards and getting educated about finance to minimize debt when it has to be paid.
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What are some good reasons to borrow money? - The Globe and Mail - 1 views

www.theglobeandmail.com/...article4184887 tips saving money debt
shared by lebiez piranaj on 18 Jan 13 - No Cached
  • 2. Buy a car
  • Some people pay cash for a car, but most of us borrow or lease. Always weigh the cost of borrowing against using your own savings.
  • 3. Save for education
  • ...5 more annotations...
  • Student loans are one of the cheapest forms of debt. They are also a good investment
  • Another way to finance part of your child's education is through a Registered Education Savings Plan (RESP)
  • 7. Pay off debt at a lower interest rate
  • A consolidation loan is a loan at a low rate, which you use to pay off several older loans that have higher interest rates
  • Others pay off their loans and credit cards by increasing their mortgage, which may have a low interest rate.
  • lebiez piranaj on 18 Jan 13
     
    The article talks about strategies on how to save for things like education, on saving for a car, how to pay off your debt at lower rates as well. 
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Global markets scale new heights, but TSX 'wildly' underperforms - The Globe and Mail - 1 views

www.theglobeandmail.com/...article11744187 stock market
shared by Ms Cuttle on 07 May 13 - No Cached
  • Global markets are climbing again this morning, though Canadian investors should take note: Toronto has been "wildly" underperforming as other exchanges push fresh highs.
  • Toronto is down about 20 per cent from its peak.
  • he Globe and Mail’s Sean Silcoff and Dianne Nice hosted an online chat today with Vijai Mohan, the founder of a small U.S. hedge fund who’s perhaps better known as the man who’s selling Canada short.
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Are Canada's financial institutions in perfect shape? Don't bank on it - Business - Mac... - 1 views

www2.macleans.ca/...dont-bank-on-it-2 finance financial crisis
shared by Ms Cuttle on 16 Nov 12 - No Cached
  • Less than 24 hours after Lagarde put down her dessert fork, debt rating agency Moody’s put six of Canada’s biggest banks under review for a possible ratings downgrade, citing high consumer debt levels and a frothy housing market.
  • Household debt-to-income ratios now stand at 163 per cent, higher than in the United States before its housing crash and up from 147 per cent two years ago.
  • RBC last week revealed plans to spend $1.4 billion to buy auto lender Ally Financial while TD said it was buying retailer Target’s credit card business. The Bank of Nova Scotia also recently purchased the online bank ING Direct for $3.1 billion.
  • Ms Cuttle on 16 Nov 12
     
    Should Canadians be worried about the financial stability of our banks?
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Mining industry stakes claim as most powerful economic and social force in Queensland |... - 0 views

www.theaustralian.com.au/...story-e6frg6n6-1226526384303
shared by faseehthemoonman on 01 Dec 12 - No Cached
  • faseehthemoonman on 02 Dec 12
     
    Queensland resources council conducted a study that showed the mineral and energy has once again has increased its economic contribution to the state. resource companies have created 36 billion in gross regional product, due to gas and coal companies. it is a smart decision that auzi started to investing in producing a wide range of commodity resources. since the coal market struck a high. The challenge now is to ensure that there is a strong pipeline of projects across all commodities to sustain and grow the resources.
  • faseehthemoonman on 02 Dec 12
     
    Question Do you think a country like Aus would have more success investing in resources and commodities than Canada?
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Commodities rise on budget talks - 0 views

www.businessweek.com/...-on-budget-talks-economic-news commodities
shared by Brijesh Patel on 02 Dec 12 - No Cached
  • Brijesh Patel on 02 Dec 12
     
    - The price of commodities has been going up and down the past week as negotiations over the U.S budget continues. - Oil rose while natural gas fell. Silver rose 2%, gold raised $10.70, copper gained 6.8 cents, palladium ended up at $12.25 and platinum gained $7.80 - Investors are hoping a new budget is agreed upon so that tax doesn't increase - There is a possibility that the economist believe that U.S could be pushed back into recession if a budget is not agreed upon. - During the second quarter, the economy grew at a faster rate than initially thought by the commerce department. - More Americans starting buying homes due to the job gains and low mortgage rates. The National Association of Realtors said an index measuring pending contracts to buy homes jumped last month.
  • Brijesh Patel on 02 Dec 12
     
    do you think that the new budget will make a difference in the commodities prices ?
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