Does anyone have a dollar stretcher I could borrow or could I pick from your money tree? Isn’t this something that most of us are wishing for right now. Unemployment rates are at an all time high and it seems that cutbacks and instability are have become a permanent part of our thinking.
I have often wondered how it would be to live in a country that gets hit by bombs on a regular bases or where there is fighting in the streets. What is the mindset of those that live there? How do they survive from day to day? I know this is an analogy that is dealing with life and death but I think most of us can apply it to our outlook of our job stability. It’s called conditioning.
Times have changed. Not too long ago the mindset of most Americans was that you would get a stable job and could stay with that company until you retire, if you wanted to. You would have a retirement and insurance waiting for you at the end of that duty. Not so today, there are very few companies left that would fit this model and so we have gradually had to shift our paradigm in a new direction. We now have become conditioned to know that we can’t rely on a job anymore. We have to think and plan now like someone that lives in a country like I mentioned above. We have to think outside of the box, plan more and make escape routes for when war breaks out or when we hear the bomb siren going off. We may even travel lighter now and not grow roots as deep because we may not be staying in one location. For most of us life has changed. It’s not doom and gloom it’s just life and we survive.
We lean more on each other. We lend a helping hand and we gain a stronger appreciation and love for fellow human beings.
Household net worth hits record high in third quarter
9 Dec 2013 | 11:02 am
U.S. household net worth hit a record high in the third quarter as home prices marched higher and the value of stocks and mutual funds surged, boosting the economic outlook. The Federal Reserve said on Monday net worth increased $1.9 trillion to $77.3 trillion in the third quarter, the highest level since records started in 1945. The value of residential real estate rose by $428 billion between July and September, and corporate equities and mutual funds were up by $917 billion over the period, it said.
TSX climbs on signals of strength from China, U.S.
9 Dec 2013 | 10:27 am
By John Tilak TORONTO (Reuters) - Canada's main stock index rose on Monday after positive Chinese economic signals helped push up some commodity prices and a strong U.S. jobs report on Friday suggested stability in the world's biggest economy. While such upbeat news has often elicited negative responses from the market due to fears that the U.S. Federal Reserve might begin to scale back its stimulus program, investors have welcomed the latest wave of data. "The market seems to be finally treating good news as good news," said David Cockfield, managing director and portfolio manager at Northland Wealth Management. "We may have the stage set for a rally into the end of the year." The Toronto Stock Exchange's S&P/TSX composite index was up 59.22 points, or 0.45 percent, at 13,339.94.
South Africa's rand slightly softer, data-heavy week ahead
9 Dec 2013 | 10:15 am
South Africa's rand was slightly weaker against the dollar on Monday ahead of a data-heavy week but is expected to trade rangebound until the U.S. Federal Reserve's next policy meeting next week. But the U.S. Federal Reserve's decision on when to begin tapering its quantitative easing programme will be the most keenly watched economic event before the Christmas holidays.
China to aid ailing shipbuilders with more subsidies
9 Dec 2013 | 10:15 am
China is handing out new subsidies for buying ships to help its beleaguered shipbuilders, confounding a government pledge to reduce support for sectors with over-capacity in order to reform the economy. The central government will set aside "special funds" that give shippers subsidies of 1,500 yuan per gross ton -- a unit of measure for the volume of vessels -- to replace old models with new and greener ones, a government statement said. The state subsidies are the latest given to Chinese shipbuilders, which are fighting falling demand and excess capacity. Yet by extending more aid to a sector foundering on excess investment, Beijing appears to be contradicting a promise to solve the problem of excess capacity by restricting credit and ending state support.
Latvia starts OECD accession talks, eyes membership in two years
9 Dec 2013 | 9:43 am
Latvia launched on Monday formal talks about joining the Organization for Economic Cooperation and Development (OECD), and the government expected accession in about two years, officials said. The Baltic state, which had to take a rescue package from the International Monetary Fund (IMF) in 2008 to avoid currency evaluation, was European Union's fastest growing economy last year and is to adopt euro currency from the start of 2014. "I would really like to hope that we finish these talks and formally become an (OECD) member state in about two years time," Minister of Foreign Affairs Edgards Rinkevics told a news conference. "There may be some issues that come up that need to be resolved but I don't anticipate any big problems," William C. Danvers, deputy secretary-general of the OECD, told the same news conference when asked about Latvia's prospects.
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