Today's economy

Today’s economy media pack – 2009.06.05

By Kevin Press,

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More talk of recovery, personal bankruptcies and keeping your kids busy this summer.

  • Report on Business Magazine. Are the recession’s darkest days over? “One of the worst quarters in history will likely also be notable for the remarkable speed at which the freefall came to a halt.”
  • The Globe and Mail. The explainer: the economy. “From bank deposits to default swaps.”
  • National Post. Personal bankruptcies up 36% in year ended April 2009. “Consumer bankruptcies continued to soar in April as the economic downturn put a growing strain on household finances.”
  • National Post. Galbraith’s view on the greatest of crashes. “In the quarter century from 1983 though 2008, Americans witnessed three stock market crashes: 1987, 1990 and 2000.”
  • Economics Help. An economic crisis averted? “Whilst it is still far too early to pat ourselves on the back and look forward to a prolonged economic recovery, the fears of a ‘Great Depression mark II’ at least seem to have been averted.”
  • Canadian Capitalist. Currency effects of buying foreign stocks or ETFs on U.S. exchanges. “ETFs that hold foreign stocks or foreign stocks trading on U.S. exchanges do not expose you to CAD/USD fluctuations.”
  • ABCs of Investing. Stock prices do not represent stock value (or company value). “Stocks trade for a wide variety of prices. Penny stocks trade for prices less than a dollar, which is what their name suggests. Some stocks buy and sell for very high prices such as shares of Berkshire Hathaway (BRK-A) which recently sold for $131,500!”
  • Million Dollar Journey. 8 ways to keep your kids busy this summer without going broke. “For those of you with school age kids, you’ll know that because of the timing of Labour Day this year, many school boards have opted for one of the longest summer breaks ever. Nine full weeks!”
  • Maclean’s. An interview with Finance Minister Jim Flaherty. “Finance Minister Jim Flaherty has the toughest job in Ottawa, and maybe the most crucial: running Canadian economic policy during the worst global recession since the Depression.”
  • The Financial Blogger. Negotiating a raise during a recession. “Economic data are still low, several companies are laying off employees and your house wouldn’t sell on the market that fast… do you think it’s a good timing to ask for a raise?”
  • MSN moneyblog. Sign of the times: gold parties. “Move over, Tupperware. People these days are having gold parties. The party host/hostess gets a cut when people attend and sell gold jewelry to a dealer on-site for cash.”

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