Tag Archives: personal finance

(1144) Tragedy & comedy in the financial trenches


Breaks for earners over $100K per year.
Breakdowns for workers.
Tragedy:
Financial challenges mount for millions of Canadians because of income volatility, study finds
business.financialpost.com
Comedy:
CBC Investigates: number of highest-earning Canadians paying no income tax is growing. CBC analysis reveals about 6,000 earning more than $100,000 got legal break in 2014
cbc.ca/news
image: Images Money via Flickr/CC

(1133) Car town


Here in the Greater Toronto Area it feels like the real estate bubble will never burst.  Prices swell and then swell some more.  Equity flows – as if up through the very drains in the monster home basements – to enrich the fortunate homeowner.
An unavoidable parallel to this frenzy is found in automotive finance.  Where you have sprawl, you have cars, natch.
Is there an auto bubble on the horizon?
macleans.ca
Canadians getting lured onto auto debt treadmill by signing on to long term car loans
financialpost.com
What comes after the auto bubble?
frontiergroup.org
What’s happening with subprime auto loans?
visualcapitalist.com
‘Deep subprime’ auto loans are surging
bloomberg.com
image: Heather Philips via Flickr/CC

(1084) Lotto madness


Barely anyone at large in the industrial, consumer, automotive, real estate complex we call home has escaped the call of the lottery ticket.  Deep down, even the most sensible and realistic of us harbours a fantasy of something for nothing here.  We think of all the good things we could do for those we care about or all the crazy shit we could do for ourselves.  Either way, we frequently line up at that most suburban of settings, the gas station, and lay down several hours pay in our minimum wage job for a piece of paper that could change everything. Time to think a little more about the psycho-social effects of the lotteries, yeah?
EIther way, good luck and don’t forget to give us some.
Robin Hoodwinked:how billion dollar powerballs reflect 21st century inequality. State lotteries take from the poor to give to the rich, but we have options and there is a game-changing alternative
US basic income activist Scott Santens on medium.com

image: Mark Turnauckus via Flickr/CC

(1079) Then they came for the suburbs


Then they came for the suburbs.  And I did nothing because I didn’t have a car, or a job, medical coverage, or mortgage insurance.

Hopefully the Trump presidency will be shortened by litigation, impeachment, or the man’s general unfitness.
Meantime, looks like Prince Cheeto isn’t wasting time putting the boots to people.

On his first day in office, Trump raises taxes on middle-class homebuyers
theintercept.com

image: davitydave via Flickr/CC

(1093) Repairing our way to a better world?


So, here’s a bright idea from Sweden designed to cut carbon emissions, resource consumption and garbage production.  We think it might be a poverty fighter as well.  Basically, Swedes should soon see a worthwhile tax break to fix their stuff.  Those with a sense of thrift should get a lift from this policy.  Canada needs this.

Waste not want not: Sweden to give tax break for repairs
theguardian.com

image: TomD. via Flickr/CC

(1025) Comedy host John Oliver gets it

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If this blog had a board of directors we would appoint Last Week Tonight’s John Oliver to upon it sit.  He looked right into the dark heart of suburban poverty and social difficulty in a recent episode of his popular show to razor sharp effect.  How so?  He took the American sub prime auto loan industry out for a run, that’s how.

Oliver starts with the difficulty faced by many of his adopted country’s working poor: that trap between horrendously long commutes through the sprawl via public transit or buying some nasty set of wheels from a self-financing used car dealer.  There’s some impressive research and real world tales of woe brought out and then capped off with a hilarious skit spoofing the whole sad machinery of extortionate high interest loans, overpriced shitboxes and repossessions.  It has gotten so out of hand of late that some observers are seeing a repeat of the mortgage crisis of 2008 taking shape in US auto financing.  We’ll see soon enough.

image: staci myers via Flickr/CC