MoneyAccumulator.com

It’s no surprise that Canadian’s are having a hard time getting by financially. Canadian’s are currently burden down by heavy debt (Canadian household debt hits 1.5 Trillion), bills and are really having a hard time getting by. That is why about 30% of people surveyed said that they are cutting back spending simply because they feel that their financial security right now is not sound.

Read the article, copy and paste link to your browser:
http://ca.finance.yahoo.com/news/Economical-turmoil-Canadians-capress-827274697.html;_ylt=Amtg7.AFOq9PaYk0HuEPizFyzJpG;_ylu=X3oDMTE4aWJpYWZuBHBvcwMzBHNlYwN5ZmlUb3BTdG9yaWVzBHNsawNlY29ub21pY2FsdHU-?x=0

Raj Rajaratnam, a self-made hedge fund tycoon convicted in the biggest Wall Street insider trading scandal in a generation, was ordered to serve 11 years in prison, the longest sentence ever in an insider-trading case but far less than prosecutors sought.

The judge also fined him $10 million and ordered him to forfeit $53.8 million, which approximated the illegal profits and avoided losses from the trading scheme.

According to many Indian nationals and Indian immigrants to U.S and Canada , there home country is one of the most corrupt nations in the world. Many say that things don’t get done until someone is bribed…sounds a lot like Washington politics.

Here is a quote:
“From the time of birth until death, nothing will move in India without paying bribe.”

Lucky I just switched my TD Precious Metal Fund over to TD Canadian Bond fund. I moved my TD Precious Metal Fund over when it closed at the NAV of $79.48 about a week or so ago and on the day gold drop $64.90 (Sept 22, 2011), the closing NAV on Sept 22nd of the TD Precious Metal Fund is $70.64. Wow, that is a drop of almost $9. One thing about precious metal mutual funds is that it moves in tandem with mainly the stock prices of gold mining companies, and it would seem that the gold mining companies also took a hit.

About a year ago, I listened in its entirety the book “Third World America” by Arianna Huffington and was amazed at how she was able to describe in details the problems the United States was facing and will face in the foreseeable future.

Russian economic researchers has found that the richest slice of Russian society has doubled its wealth in the past 20 years, while almost two-thirds of the population is no better off and the poor are barely half as wealthy as they were when the Soviet Union fell, according to the research.

Here is the link to the full article:
http://taipeitimes.com/News/world/archives/2011/04/13/2003500648

If you ask me looking at the jobs numbers and the headlines about layoffs along with lots of companies now not meeting their numbers and having negative forward guidance, it looks like we are heading into a big recession.

After watching the video from Sky News UK, it would seem that the rioters and looters of the London riot were mainly people who didn’t have much in terms of money and jobs. I guess they saw it as an opportunity to get things they can not otherwise afford. The rioting was trigger by the killing of a boy shot by police.

Nothing much has been done to change the U.S banking system since the 2008 crisis. Basically, if anythig it is the same problematic system and getting worse. So, let’s see if the banking crisis 2.0 and recession will be upon us within the next short while.

While the United States government lies about their inflation numbers and creates inflation around the world by printing more U.S dollars, Canadian food prices have been rising at the fastest rate in two years. Many experts already know there is food inflation across the world and now it has been affecting Canadian consumers.

Statistics Canada figures showed that food prices rose 4.3 per cent in June from a year ago, . That’s the highest since July, 2009, and a tick upwards from the 3.9-per-cent pace in May.