Timeless Lantern

Nonfragile, Lindy effect, Life hacks, Life simplified, I was today years old.

[Timeless Lantern @TimelessLantern]

The difference between Canada and the US, latest economic parameters:
#inflation #Unemployment #interestrates
It is amazing how much stronger the US economy is.

[Timeless Lantern @TimelessLantern]

With officially a new bull market, let's review some economic parameters:
3- Leading Economic Index (LEI) contracted 3% over the last six month (lower contraction compared to the preceding 6 months)
For the first time in two years, LEI does not signal a recession.
#Bullrun2024

[Timeless Lantern @TimelessLantern]

With officially a new bull market, let's review some economic parameters:
2- Consumer confidence was the lowest in Aug. 2022 (even below COVID hit). It has improved and now sits at the same level of the COVID onset.
#Bullrun2024

[Timeless Lantern @TimelessLantern]

With officially a new bull market, let's review some economic parameters:
1-M2 money supply has not changed since Oct. 2021 (2 years and 6 months) while an increase of 5%/year is needed for growth.
#Bullrun2024

[Timeless Lantern @TimelessLantern]

Where is the #recession (by most recent graphs)?
#1 M2 money supply is essentially unchanged since Aug. 2021 (that is 2.5 years).
You need 5% increase/year in M2 for growth.

[Timeless Lantern @TimelessLantern]

Bank of Canada held the #interestrates steady at 5%.
They expect #inflation to be around 3% in 2024 and come down to 2% in 2025.
You can read the full press release here:
https://t.co/jedcOlePyo

[Timeless Lantern @TimelessLantern]

According to MNP (the largest Canadian insolvency firm), 1 in 4 Canadians make only minimum payment on their credit cards.
Considering 25% interest rate on a typical credit card, their #debt just gets bigger and bigger.
#creditcard #InterestRates #debt
https://t.co/l66ylpTUiv

[Timeless Lantern @TimelessLantern]

The #FOMC kept the #interestrates unchanged.
You can read the full announcement here:
https://t.co/zihFuBT4ar

[Timeless Lantern @TimelessLantern]

The #FOMC will announce the #interestrates today at 2 pm EST.
You can read it here:
https://t.co/5t3GUsgkDI

[Timeless Lantern @TimelessLantern]

Just in:
The US #inflation for the month of Nov.
Year-over year: 3.1% (was 3.2% in Oct.)
Month-over month: 0.1% (was 0% in Oct.)
https://t.co/u7AFHiPcYD

[Timeless Lantern @TimelessLantern]

The US #inflation for the month of Nov. will be released today at 8:30 am.
This report is significant because:
1- There is a #interestrate announcement by the #FOMC tomorrow.
2- The last inflation report in 2023 ahead of the last interestrate announcement.

[Timeless Lantern @TimelessLantern]

2- additional estimated $15 billion that homeowners will have to disburse every year to ensure their monthly mortgage payments are made on time.
3- 74% of #mortgage holders will face difficulties maintaining certain payments, including mortgage payments.

[Timeless Lantern @TimelessLantern]

"Rising rates on homeowners and the shocks that lie ahead" by CMHC:
1- The total amount of #mortgage loans in Canada to be renewed during 2023-2024 is over $675 billion, close to 40% of the Canadian economy!
https://t.co/bVaOyWE4xg

[Timeless Lantern @TimelessLantern]

Statistics #Canada : "People born in the 1990s whose parents were homeowners were twice as likely to own a home in 2021 than those whose parents were non-homeowners."
read the full report here:
https://t.co/P8hFsSvZL7
#mortgage

[Timeless Lantern @TimelessLantern]

Some highlights from Nov. job report:
Among Canadian cities, has the Windsor highest #unemployment rate (7.6%) and Quebec city the lowest at 2.7%.
https://t.co/vqncBlwE54

[Timeless Lantern @TimelessLantern]

#BankofCanada kept the #interestrates at 5%. We are now done with 2023.
The policy rate announcement dates for 2024:
January 24*
March 6
April 10*
June 5
July 24*
September 4
October 23*
December 11

[Timeless Lantern @TimelessLantern]

According to MNP, 1 in 3 Canadians do not earn enough to cover their bills and debt payments.
Read the full report here:
https://t.co/wlKZWncrVv
#interestrates #debt

[Timeless Lantern @TimelessLantern]

Craziness continues:
10-year treasury yield near levels not seen since 2007; The US #mortgage demand lowest since 1996;
Dow becomes negative in 2023.
#recession

[Timeless Lantern @TimelessLantern]

If you forget to cancel a subscription before its renewal and it is linked to your AppleID, you can use https://t.co/KDVS3PrXXH and request a refund.
#WallStreetJournal requires calling to cancel your subscription (not online!). You can just directly cancel from Apple.

[Canada Revenue Agency @CanRevAgency]

New! We’ve developed this new Underused Housing Tax (UHT) self-assessment tool to help you file your return and submit payments on time ➡️ https://t.co/m4kajdBCPL

Penalties and interest apply for UHT returns and payments received after October 31st. #CdnTax #CdnRealEstate