Monthly Archive: January 2016

End of an era

The news is in the news these days. Postmedia cut 90 journalism jobs and conjoined formerly competing newspapers in four cities. The Toronto Star laid off thirteen. The Halifax Chronicle-Herald wants to get rid of 18. And that’s just this month. I was part of the first group laid off at National Post in 2001. There must have been two thousand journalists who’ve lost their jobs in Canada in the fifteen years since. No one wants to pay to read newspapers anymore. Revenues have cratered. Costs must be cut. But of all the recent sagas, the saddest was the announcement yesterday that the Guelph Mercury will...

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Tear down this wall

It matters not a whit what the Bank of Canada does with interest rates later today – raise, lower or stand pat – the damage to our dollar has long since been done. When Stephen Poloz was appointed governor of the central bank in 2013 he forgot to take off the Export Development Canada hat he’d been wearing for the previous 14 years. Ever since he arrived at the bank the Canadian dollar has been in free fall, going from par with the US$ in May 2013 to under 69 cents today. It costs us $1.48 to buy one U.S dollar. In the beginning...

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Life lessons

I think you learn almost everything you need to know in life when you are young. After that it’s too late. Here are seven things I learned before I was ten: Never take on the bully. At least not alone. Befriend a blind boy. Respect your teacher. Be independent in thought and deed. If you want a bike, save up for it. Be sure your sins will find you out. Always kiss the prettiest girl.

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Underground reading

My worst fears were realized on the subway this morning. I forgot to bring something to read. I’m always riven with anxiety that the train will come to a halt between stations and sit there for an hour so I usually pack in my knapsack that day’s newspaper, a section or two from the Sunday New York Times and a recent copy of the London Review of Books, just in case of such a catastrophe. Fortunately, there were plenty of copies scattered about of a giveaway tabloid called 24 Hours Toronto, so I picked one up. As I scanned the pages, I wondered where my...

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My stock market advice for 2016

Do you ever ask yourself about the stock market? I don’t mean how the market works or where your money went, but why it is that so many grown men and women spend all their waking hours telling the world where the market is headed. Buy this mutual fund, says one analyst; get out of bonds, says another. Or maybe they’ll announce, as an increasing number seem to be doing this week, that the market is going into the dumper, so sell everything. “Cash is King,” they say. I’m not against the experts. I’ve quoted many of them over the years...

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