Monday, March 24, 2014

Bets against the Canadian dollar surge again

Article Date: March 24, 2014

The latest report from the U.S. Commodities Futures Trading Commission is blaming the Bank of Canada for the sloping Canadian dollar. The CFTC says "The Canadian dollar is trading at its lowest level since July 2009 and much of it is due to an implied weak Bank of Canada policy on interest rate expectations." It is crazy how this is a factor in a strong dollar. I for one 'enjoy a low interest rate', the banks of the world are rich enough. If they are showing profit from rates on mortgages at just greater than 3%, how is it better to take money off my table with higher interest rates? So the banks can show strength to represent our countries wealth. How about leave the money in my pocket? Chances are I am spending it right back into the economy anyway! Meanwhile the rest of the worlds economies are having a huge impact. You may not know it, but as China's manufacturing sector is expected to slow. You can be sure to see another impact on our dollar.

Monday, March 17, 2014

Wireless carriers hike prices across Canada

Article date: March 17, 2014

I am sick and tired of how much phone companies are allowed to charge us! Many of you may be unaware that we are all being completely taken advantage of. Canada is pushing for a fourth wireless phone carrier, "great" one more company to rip us off. The three current competitors Bell, Rogers, and Telus are currently charging $80 for the minimum monthly service. Yes that includes unlimited long distance calling, text messaging, and voicemail, but, what about the data? I am going to propose a thought, and you tell me what you think? If you use all your data.... and then some, you get penalized pretty hard. But, if you don't come anywhere near what you payed for, how come we are not credited or reimbursed? I would like to see how much this data really costs..... because no one's informing me of the money I'm saving Bell every time I don't use my entire package. Upsetting, really upsetting. 

Monday, March 10, 2014

Irving Oil spending $60M on maintaining Saint John refinery

Date of article: March 03, 2014

Atlantic Canada's business giant Irving Oil will be conducting upgrades of $60 million over the course of six weeks to maintain its equipment involved in refining oil. The plus side to this announcement is that Irving will be requiring 1700 extra workers to complete such an overhaul. This "turnaround" will require 24 hours a day, 7 days a week until completed. In total, about 2,000 people will be involved with the project, including 1,700 additional tradespeople, most of them from New Brunswick. This is fantastic news, as any boost in employment helps generate a healthy economy. The refinery is crucial in sustaining Irvings position in the east and northern section of the U.S. It can produce over 320,000 barrels a day, and typically exports 80% of its production to the U.S. Irving says gasoline exported from the refinery represents 19 % of all U.S. gasoline imports. I feel that is a huge number, how about you? Well done Irving!