Prices are rising and stock markets are falling — a toxic combination, especially for older Canadians who rely on savings in registered retirement saving plans (RRSPs) and defined-contribution pension plans, and who are drawing down savings in registered retirement income funds (RRIFs) and Life Income Funds (LIFs).
Many will now want to save more, to alleviate their risk of running out of money before they die. At the very least, Canadians over 71 should not face tax rules that force them to sell when the market is down, permanently lowering their prospects for retirement.
Instead of exacerbating their problems the federal government should help solve them.
To begin with, retirees need a break on mandatory RRIF…
Ça, étant une inflation persistante et généralisée, que les banques centrales doivent écraser par une hausse accélérée des taux d’intérêt, au risque élevé de récession ! Ça, expliquant l’humeur massacrante en Bourse.
« We fought the last war. » On s’est battu comme si on livrait la guerre précédente, explique Jason Furman, professeur à Harvard et ex-conseiller économique du président Obama. Erreur classique des généraux obnubilés par le dernier conflit, en l’occurrence celui de la grande crise financière de 2007-2008.
La grande récession qu’elle a engendrée fut des plus longues, car il a fallu désendetter le secteur privé et recapitaliser le système bancaire. On a aussi blâmé les gouvernements pour la…
Double whammy: The latest surge in inflation means a recession is likely – Globe and Mail Op-Ed
Wednesday’s inflation report from Statistics Canada showed that the consumer price index was up 7.7 per cent year-over-year in May. That’s alarming for two reasons. The obvious one: our money’s purchasing power is falling faster than at any time since the early 1980s. The other reason will take time to sink in: We are headed for a recession.
Getting inflation back to its 2-per-cent target would inevitably have been a challenge for the Bank of Canada. The fiscal and monetary stimulus at the beginning of the COVID-19 pandemic went on too long, and now it has combined with pent-up saving by households who could not travel, eat out or enjoy in-person entertainment for two years to unleash a torrent of spending. Demand is above the…
