Money Sense

[Breakfall]

That is the Seoul brother. But, he is actually an alright guy.

The CC character? I was just asking Fash about it. Sounds like an uptight female. Lol

I've posted with cc for many years now..



She's a very smart lady, passionate in what she believes in..



When she takes a stand on something she makes sure she can back up her arguments..



Any forum would like to have her exceptional with and intelligence.

Exceptional wit and intelligence could be arguable, but I'll take your word for the moment.

You'll like cc.

Hahahaha...are you smirking?  ac_biggrin

[Anonymous]

The CC character? I was just asking Fash about it. Sounds like an uptight female. Lol

I've posted with cc for many years now..



She's a very smart lady, passionate in what she believes in..



When she takes a stand on something she makes sure she can back up her arguments..



Any forum would like to have her exceptional with and intelligence.

Exceptional wit and intelligence could be arguable, but I'll take your word for the moment.

You'll like cc.

Hahahaha...are you smirking?  ac_biggrin

No, not at all ..



It's bed time......goodnight Bonkerfist.

 :2cdfr50_th:

[Breakfall]

I've posted with cc for many years now..



She's a very smart lady, passionate in what she believes in..



When she takes a stand on something she makes sure she can back up her arguments..



Any forum would like to have her exceptional with and intelligence.

Exceptional wit and intelligence could be arguable, but I'll take your word for the moment.

You'll like cc.

Hahahaha...are you smirking?  ac_biggrin

No, not at all ..



It's bed time......goodnight Bonkerfist.

 :2cdfr50_th:

Good sleeping Fash.

[Anonymous]

You know, Fash, this site is becomes an exceptional site, well organized, diverse, good people, good ideas, good posting



You just came up with another winning addition

You must be the forum brown_noser! How droll.

That is the Seoul brother. But, he is actually an alright guy.

Thanks.

[Anonymous]

Stocks rose on Friday to post a robust weekly advance, with stronger-than-expected earnings and economic data helping lift the S&P 500 for a third consecutive day. The blue-chip index closed out the week higher by about 1.8% in its best one-week increase since July.



A new report from the Commerce Department showed an unexpected rise in U.S. retail sales in September and helped further lift sentiment, with consumer spending holding up more strongly than expected even given the latest rise in prices and lingering virus-related impacts.



This week's early batch of stronger-than-anticipated quarterly results has helped assuage investors' concerns over a sharp deceleration in corporate profits, especially as expenses mount for companies across industries in the face of higher input and labor costs.



S&P 500 (^GSPC): +33.11 (+0.75%) to 4,471.37



Dow (^DJI): +382.2 (+1.09%) to 35,294.76



Nasdaq (^IXIC): +73.91 (+0.5%) to 14,897.34



TSX close  20,928.10+108.16 (+0.52%)

[Anonymous]

Shares of China Evergrande Group fell by as much as 13.6 percent on Thursday as trade resumed in the latest blow to the debt-saddled developer, whose woes have rattled global markets.



The development comes after a two-week suspension in trade that started on Oct. 4.



The company announced late on Oct. 20 that it had failed to secure a $2.6 billion deal to sell a 50.1 percent stake in its property services arm to smaller rival Hopson Development Holdings, setting the conditions for a potentially disruptive default.



Evergrande Property Services Group's stock dropped by as much as 10.2 percent as trading in both companies' shares resumed.

[Anonymous]

The first interest rate hike could hit in April. The Bank of Canada,  is expected on Wednesday to raise its inflation forecast and to largely end stimulus from its pandemic-era bond buying program, starting a countdown of sorts to the first interest rate hike since October 2018.



The central bank has pledged to keep rates at a record low 0.25% until economic slack is absorbed, which would happen in the second half of 2022 in its latest forecast, and has long maintained that the factors pushing up inflation are transitory-they are not.

[Anonymous]

Strong results for Crescent Point Energy Corp. in its latest quarter isn't just the result of high oil prices, but the result of an industry-wide focus on operational efficiencies and debt repayment during years of downturn, the company's chief executive said Thursday.



On Thursday, the Calgary-based company reported a third-quarter profit of $77.5 million or 13 cents per diluted share, up from $500,000 a year earlier.



Oil and gas sales totalled $826.7 million for the quarter ended Sept. 30, up from $437 million a year ago. On an adjusted basis, Crescent Point says its net earnings from operations were 24 cents per diluted share, up from 13 cents per diluted share in the same quarter last year.



The increase came as average daily production came in at 132,186 barrels of oil equivalent per day, up from 113,383 boe/d a year ago.

[Anonymous]

US oil prices slipped to their lowest in more than a month Wednesday amid a growing number of indications that could signal more supply.



Inventories at Cushing, Oklahoma — the delivery hub for the West Texas Intermediate crude futures contracts — rose by 216,000 barrels last week, according to the Energy Department's status report.



That marked the first increase after five consecutive declines and could be a clue on where the benchmark US oil price is headed.



WTI slipped 3% to settle at $78.36 per barrel on Wednesday, its lowest finish since October 7. Last month, oil prices hit the highest levels in seven years as major economies around the world simultaneously restarted after the devastation brought about by the pandemic lockdown.



Oil prices came under pressure earlier Wednesday, after the International Energy Agency's monthly report on Tuesday said rising supplies could ease tightness in crude markets. The energy watchdog added that US producers will account for a major share of additional supplies coming at the end of this year and next year.



Also Tuesday, OPEC said the oil group sees signs of an oil supply surplus building up. That's after OPEC in October agreed to keep its existing schedule of gradual hikes in oil production, ignoring growing calls for opening the taps at a faster rate to bring down prices.

[Anonymous]

Inflation has risen again! It's now at 4.7 per cent, meaning that a loonie will now lose roughly a nickel in value for every year it spends in your dresser drawer. The inflation rate last got this high for a brief period in 2003, but if it gets any higher our currency will be losing value at a speed that hasn't been seen since the Bad Old Days of the 1980s.



Inflation is inherently a problem of too much money in circulation, which causes it to be devalued. Which is why, in a recent note to clients, a Bank of Nova Scotia economist said that Liberal government plans to shovel even more money into the economy will make everything worse.

[Anonymous]

A U.N. agency has warned that a surge in container shipping rates threatens the global economic recovery and could add an additional 1.5 percent to consumer price inflation through 2023.

[Anonymous]

Oil is down about nine bucks in the last months. North American markets are way down. The Canadian dollar has lost two cents in the past four weeks. It aint looking good.

[Anonymous]

I told my clients this was coming. The Liberal government's big payroll tax increase combined with the annual increase in the carbon plus tax grabs on insurers and banks which will be paid by consumers is like kicking Canadians while they are down and preventing them from getting up sooner.



The CPP earnings cap is increasing at the fastest rate in 30 years. Why and what it means



The Canada Pension Plan (CPP) earnings ceiling is increasing at the highest rate in 30 years, a change that will provide a boost to benefits for new retirees and a hit for workers and businesses contributing to the plan.





The earnings cap, called yearly maximum pensionable earnings or YMPE, is set to rise to $64,900 for 2022 from $61,600 for 2021, the Canada Revenue Agency (CRA) announced on Nov. 1. That's a 5.3 per cent increase, the largest percentage change since 1992.



The change will boost benefits for retirees who start claiming CPP benefits in 2022 or later but also result in significantly larger contributions for workers and employers paying into the pension plan.



The YMPE is calculated annually and is based on an average of weekly earnings recorded over the 12 months ending June 30. A smaller-than-usual number of low-wage workers employed between the second half of 2020 and the first half of 2021 effectively skewed the weekly earnings average for 2022 higher, says Alexandra Macqueen, a certified financial planner and author of several books on retirement planning.



It also comes as the federal government is gradually increasing CPP contribution rates as part of a multi-year plan to enhance benefits from the government pension fund.



CPP was initially designed to cover up to a quarter of workers' average annual earnings, up to the earnings cap. In their first term, the Liberals introduced a plan to enhance CPP so it will replace up to a third of average earnings, up to the ceiling, in retirement by 2065.



As part of the shift to higher benefit levels, contribution rates have been rising every year since 2019. For 2022, the contribution rate for employees and employers is set to increase to 5.7 per cent, up from 5.45 per cent in 2021. The contribution for self-employed workers is scheduled to increase to 11.4 per cent, up from 10.9 per cent.



But what had been meant to be gradual increases in contribution levels turned into two consecutive years of soaring CPP premiums due to the impact of the pandemic on the CPP earnings cap.



Higher contributions for employers and employees



The contribution rate increase and the jump in the YMPE will be "a double whammy" that hits small businesses "at the worst possible time," says Dan Kelly, president of the Canadian Federation of Independent Business (CFIB).



"I don't know how my members are going to meet their payroll budgets next year," Kelly says.



The spike in CPP premiums will also hit workers at a time when they are feeling the squeeze of soaring consumer prices, Macqueen notes. The increase is particularly large for the self-employed, who pay both the employee and employer portions of CPP contributions.



"I'm not trying to be alarmist, but these are huge increases if you're self-employed and you're paying both sides of it," Macqueen says.



The maximum employer and employee annual contribution will be just shy of $3,500, up by around $334 from a maximum of $3,166 each in 2021. For self-employed Canadians, the maximum annual contribution is set to rise to nearly $7,000 per year, up by around $667 from $6,333 in 2021.

https://globalnews.ca/news/8374309/cpp-earnings-cap-rises-2022/">https://globalnews.ca/news/8374309/cpp- ... ises-2022/">https://globalnews.ca/news/8374309/cpp-earnings-cap-rises-2022/

[Anonymous]

I told my clients this was coming. The Liberal government's big payroll tax increase combined with the annual increase in the carbon plus tax grabs on insurers and banks which will be paid by consumers is like kicking Canadians while they are down and preventing them from getting up sooner.



The CPP earnings cap is increasing at the fastest rate in 30 years. Why and what it means



The Canada Pension Plan (CPP) earnings ceiling is increasing at the highest rate in 30 years, a change that will provide a boost to benefits for new retirees and a hit for workers and businesses contributing to the plan.





The earnings cap, called yearly maximum pensionable earnings or YMPE, is set to rise to $64,900 for 2022 from $61,600 for 2021, the Canada Revenue Agency (CRA) announced on Nov. 1. That's a 5.3 per cent increase, the largest percentage change since 1992.



The change will boost benefits for retirees who start claiming CPP benefits in 2022 or later but also result in significantly larger contributions for workers and employers paying into the pension plan.



The YMPE is calculated annually and is based on an average of weekly earnings recorded over the 12 months ending June 30. A smaller-than-usual number of low-wage workers employed between the second half of 2020 and the first half of 2021 effectively skewed the weekly earnings average for 2022 higher, says Alexandra Macqueen, a certified financial planner and author of several books on retirement planning.



It also comes as the federal government is gradually increasing CPP contribution rates as part of a multi-year plan to enhance benefits from the government pension fund.



CPP was initially designed to cover up to a quarter of workers' average annual earnings, up to the earnings cap. In their first term, the Liberals introduced a plan to enhance CPP so it will replace up to a third of average earnings, up to the ceiling, in retirement by 2065.



As part of the shift to higher benefit levels, contribution rates have been rising every year since 2019. For 2022, the contribution rate for employees and employers is set to increase to 5.7 per cent, up from 5.45 per cent in 2021. The contribution for self-employed workers is scheduled to increase to 11.4 per cent, up from 10.9 per cent.



But what had been meant to be gradual increases in contribution levels turned into two consecutive years of soaring CPP premiums due to the impact of the pandemic on the CPP earnings cap.



Higher contributions for employers and employees



The contribution rate increase and the jump in the YMPE will be "a double whammy" that hits small businesses "at the worst possible time," says Dan Kelly, president of the Canadian Federation of Independent Business (CFIB).



"I don't know how my members are going to meet their payroll budgets next year," Kelly says.



The spike in CPP premiums will also hit workers at a time when they are feeling the squeeze of soaring consumer prices, Macqueen notes. The increase is particularly large for the self-employed, who pay both the employee and employer portions of CPP contributions.



"I'm not trying to be alarmist, but these are huge increases if you're self-employed and you're paying both sides of it," Macqueen says.



The maximum employer and employee annual contribution will be just shy of $3,500, up by around $334 from a maximum of $3,166 each in 2021. For self-employed Canadians, the maximum annual contribution is set to rise to nearly $7,000 per year, up by around $667 from $6,333 in 2021.

https://globalnews.ca/news/8374309/cpp-earnings-cap-rises-2022/">https://globalnews.ca/news/8374309/cpp- ... ises-2022/">https://globalnews.ca/news/8374309/cpp-earnings-cap-rises-2022/

On my salary, I'll be paying CPP contributions for the entire year.

 

[Anonymous]

US futures fell slightly on Wednesday as markets continued to digest a move higher in bond yields.



Oil flatlined after rising the day before, despite the White House announcing it would release 50 million barrels from strategic reserves.



Bond yields cooled but remained sharply higher for the week, as investors bet the Fed will move to tame inflation next year.