Wealth

RRSP vs. TFSA: Which is right for me?

Which is better—a TFSA, or an RRSP? That’s kind of like asking, “Which is better—a t-shirt, or a sweater?” Fundamentally, they do the same thing—t-shirts and sweaters both keep you covered, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) both let you save money for the future. But the way they do it […]

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Goldman: November Payrolls Preview

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill: We estimate nonfarm payrolls increased 180k in November … We expect a 46k boost from the end of the General Motors strike … We also believe some of the 68k ADP miss this month reflected legitimate weakness in the ADP jobs panel. […]

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November Employment Preview

Special Notes on GM Strike and the Decennial Census: The GM strike ended in October, and 46,000 workers were on strike during the BLS reference week in October. These workers returned to their jobs in November, and this should boost employment gains for November. Decennial Census: In August and September, the Census Bureau increased the […]

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Trade Deficit decreased to $47.2 Billion in October

From the Department of Commerce reported: The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $47.2 billion in October, down $3.9 billion from $51.1 billion in September, revised. October exports were $207.1 billion, $0.4 billion less than September exports. October imports were $254.3 billion, […]

Tax

Where would your rather live? In a high or low tax state?

The OECD has reported in an email briefing this morning that: In 2018, four OECD countries had tax-to-GDP ratios above 43% (France, Denmark, Belgium and Sweden) and four other EU countries also recorded tax-to-GDP ratios above 40% (Finland, Austria, Italy and Luxembourg). Five OECD countries (Mexico, Chile, Ireland, the United States and Turkey) recorded ratios […]

Tax

The LibDems cannot claim they will fix social care by running a government surplus when the exact opposite would be true

I had an interesting exchange on Twitter with a person called Giles Wilkes this morning: It’s worth knowing a bit of Giles’ background. He now works for the Institute of Government, but as they say of him: Giles is a senior fellow at the Institute for Government. Before joining the Institute, Giles spent two and […]

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Thursday: Trade Deficit, Unemployment Claims

Thursday:• At 8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for 215,000 initial claims, up from 213,000 last week. • At 8:30 AM: Trade Balance report for October from the Census Bureau. The consensus is the trade deficit to be $49.0 billion.  The U.S. trade deficit was at $52.5 […]