Tuesday’s session ended with the S&P 500 down 0.9% and Toronto down 1.1%.
Oil is at $43.57 U.S. and the Canadian dollar fell to 78.6 cents U.S.
Canadian Western Bank was down 6.8% for the reasons mentioned this morning.
AutoCanda was down 5.1% to $19.63.
Statistics Canada reported this morning that: From the late 1990s to 2012, Canadian taxfilers saw their family incomes increase at a faster rate than during the 1980s and the early 1990s.
That rather puts the lie to the often repeated notion that earnings are stagnant.
When I look at the fact that new houses have about doubled in size since I was a child (And with fewer occupants)… That the numbers and sizes and variety of retail stores has exploded in the past forty years. That the number of cars per family has increased and the quality of those cars is significantly better. That almost everyone eats out now and no one I Knew did when I was a kid in the 60’s and 70’s… It’s obvious to me that the standard of living has greatly increased each decade. The improvement in typical living standards is quite vast since the 1960’s and has improved greatly sine the 1980’s as well.