The U.S. government is nearing its maximum borrowing capacity. If Congress can’t agree on a budget soon they won’t be able to raise the debt ceiling which could mean disaster for the economy. I don’t think anyone is expecting the US to default, but there will probably be a lot of uncertainty in the next week. But one… Read More »
Over the course of our careers we are expected to make more money as we become more skilled and experienced in our field 🙂 But with everything from food to housing becoming so expensive some people may be led to believe that we will always be losing real purchasing power because our pay raises will never grow as… Read More »
The popular Robert Frost poem is a great reminder that financial rallies cannot be sustained indefinitely, especially in the resource sector. About a year ago the price for one ounce of gold was about $1,800. Today that same piece is only worth about $1,300. As a result the world’s largest gold company, Barrick Gold Corp, lost half of… Read More »
Hope everyone is having a great weekend. Let’s look at some business and economic news we should care about. Snail Mail Slowing Down – Canada Post made $127M in profit last year but the amount of shipments have been declining. I hope they can find new ways to make money. This company employs about 71,000 workers in Canada… Read More »
The government of Cyprus (a small island country near Turkey) announced they want to charge a one time tax on all their citizens’ savings and checking accounts, up to 9.9% of their balance (O_o) This is so the country can qualify for a $13 billion bail out package which they so desperately need. It certainly sets a very controversial precedent for… Read More »
Southwestern Resources Corp (formerly SWG on the TSX) was once a successful mining company based out of Vancouver, Canada. They were sitting on a gold mine, literally, in China. Test samples and lab reports from this mine was periodically gathered by CEO, John Paterson. John would then present the findings to the company’s board of directors and create… Read More »