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Joined 1 year ago
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Cake day: June 12th, 2023

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  • Historically, the name came from Dave Nichol, who was president of the company for decades. He actually had a very strong hand in the selection of products that were included in the product line.

    Apparently all kinds of people would pitch product ideas at him, and would taste test them and pick only ones he liked. The idea of “President’s Choice” wasn’t to be cheapo no name products, but unique and distinctive stuff personally picked by the company’s president.

    And Dave wasn’t just some guy in the corner office. In his prime he was a Canadian personality, and you saw him in TV commercials. Once he left Loblaws in the '90s the President’s Choice stuff lost its panache and meaning.







  • Yes, $15 CAD/day to “roam like home”. I have an Orange eSIM that I can keep alive if I use it at least once every 6 months - with a local french number that stays mine. It costs me about $40 CAD for a 30 day - 20GB top up. My wife uses Nomad for data only, we both don’t need local numbers, and it generally costs $12 CAD for 5 GB 2 week top-up.

    So I figure about $60-70 CAD for 3 weeks travel virtually anywhere in Europe. Calls and SMS included (for one) without long distance charges. Compared to $630 for “roam like home” for two people from a Canadian carrier - doesn’t matter which one as far as I can tell.

    We both recently got new phones to be able to use eSIMs.

    And the physical SIMs stay active. So my elderly parents can call my Canadian number if there’s an emergency and it will ring through.

    In fact, on our last trip to Rome, when we used a credit card at the hotel, it was refused and then seconds later I got a text from the bank asking for confirmation on my Canadian number. I had no choice but to text “Yes” back, and that single text activated roaming for the day and cost me $15.


  • I really don’t get this at all.

    On one hand, I get that inflation is just the expression of the supply/demand curve and that increasing interest rates makes it more expensive to borrow money and therefore lessens demand and should, theoretically drop inflation.

    But…

    Anyone with half a brain knows that this round of inflation wasn’t caused by overheated demand. It was driven by supply chain issues caused by the pandemic, avian flu, climate change and the Ukraine war. The price of oil alone drove much of the inflation numbers, both directly and indirectly by increasing the cost of production and shipping of other goods.

    Does anyone at the BOC seriously think that 10%+ inflation in groceries was caused by overheated demand? Do they seriously think that people should be buying less food to lower grocery demand and reduce prices? Do they think that people will?

    Does anyone think that the 6-12 month waits for a new car that are typical now is because gazillions of people are suddenly wanting to buy all at the same time? OK, there probably is pent up demand due to the fact that virtually no new cars were available during the pandemic, and lots of people want EV cars now, but the truth is that availability is way down compared to pre-pandemic times.

    I see talking heads from the finance sector on TV all the time saying stuff like, “We need to tame an overheated economy…”. DO WE? And then claiming that the interest rate hikes are working because inflation has come down. Yeah, right. Far more likely is that the supply chain issues are getting resolved, and supplies are increasing.

    The truth is that the BOC has only one knob that they can turn, and that’s the interest rates. So they’re going to turn it. And the prevailing wisdom says that it takes close to 18 months for interest rates hikes to have an impact. So the downturn in inflation that started at the beginning of the year has virtually NOTHING to do with the big jump in rates that happened last spring.

    As to that 18 month lag, it’s probably even longer this time around because of the mortgage situation in Canada. Those people with huge mortgages have, to large degree, 5 year terms. So a comparatively small number of those people have had to renew under the new rates. And even if rates start to come back down next year, we’re still going to see an increasing proportion of those mortgagees get hit with huge increases to their payments. And that’s going to suck money out of the economy - big time. Are those people already tightening their belts, before they renew? Probably to some extent, but there’s nothing like seeing an extra $2K-3K come out of your bank account each month to make it real.