Odds and Ends from the Personal Finance World
Approximately 10 years ago, the Premier of our Province thought it would be wise (or funny) to appoint a high-school drop-out as our Education Minister (and a car salesman as our Minister for Transportation- I am not making this up). Shortly after being appointed, with a mandate to reform the educational system, he was caught on tape indicating that a crisis needed to be manufactured in order to implement his agenda.
This story reminds me of the subprime “crisis” which is happening and the “collapse” of the United States real estate market. Is it really a crisis or just a big media story- read this report on the subprime “crisis” from the Brookings Institution- 87% of mortgages are not subprime, real estate prices continue to rise in some areas of the United States and money is still cheap (for those with good credit). Make you wonder whether this is an invent a crisis by politicians and the media. Corporate profits are still healthy (albeit from record highs), international trade healthy and money still cheap (and not chasing stupid deals anymore). Everything will be fine- this is not 1929.
A few more odds and ends to end the week:
- In the sky isn’t falling department- Manulife and Power Financial Corporation announced dividend increases this week to 24 cents and 31.25 cents per common share.
- New York Times publishes an own vs. rent calculator.
- Get Rich Slowly blogs on saving money on weddings (at $28,000.00 per wedding, I am clearly in the wrong business).
Have a good weekend- I will be doing some painting and watching the Dolphins lose again (not there is a real crisis).