Category: Canada

Anything related to Canada or Canadians

Your Money: The Missing Manual

J.D. Roth’s Your Money: The Missing Manual is a sensible and accessible guide to personal finance. It covers the psychology of money and happiness, goal-setting, budgeting, managing debt, frugality, banking, credit, taxes, investing, and more. While at least some of the contents are likely to be familiar to any reader, before the pick up the book, I found it valuable as a kind of checklist. It helped to identify areas in which I didn’t know as much as I should, and helped me come up with a half-dozen financial tasks I should undertake.

The book places particular emphasis on the importance of cashflow: getting into a situation where income each month is serving sufficiently to cover basic needs, work toward reducing debt, set resources aside for emergencies, and advance long-term financial plans like home ownership and retirement. The book isn’t shy about giving advice. For instance, it expresses the view that actively managed mutual funds are an exploitative industry from the perspective of investors, and endorsing regular contributions to index funds as the best long-term investment strategy.

Two flaws with the book, from my perspective, were an inconsistent level of detail and a U.S. focus. I cannot legitimately complain about the latter, since that is the target audience. Still, Canadians should know that some of the content on insurance, retirement, and taxes is not appropriate to them.

One nice little thing about the book is that it is printed on unusually good paper, with a pleasantly robust cover for a paperback. The author points out how getting value for money doesn’t mean going for the cheapest option, but rather for the one that serves your needs best relative to its price. The book’s philosophy is reflected in its construction.

Science and politics in Canada

I think it’s fair to say that political conservatives have long had a rocky relationship with science. While they approve of the chain from basic science to technology to economic growth, science has also repeatedly brought to light facts that undermine conservative ideologies and religious perspectives. With that in mind, this is an interesting development:

Today, the union that represents federal government scientists launches a campaign to put the spotlight on science for the public good.

“Federal government scientists work hard to protect Canadians, preserve their environment and ensure our country’s prosperity but they face dwindling resources and confusing policy decisions,” says Gary Corbett, president of the Institute.

The Professional Institute of the Public Service of Canada is a national union. Among its 59,000 federal and provincial members are 23,000 professionals who deliver, among other knowledge products, scientific research, testing and advice for sound policy-making.

The recent decision to end the mandatory long form census is the latest step in a worrying trend away from evidence-based policy making. Restrictive rules are curtailing media and public access to scientists, while cutbacks to research and monitoring limit Canada’s ability to deal with serious threats and potential opportunities.

This follows an editorial in Nature criticizing the Canadian government:

Concerns can only be enhanced by the government’s manifest disregard for science. Since prime minister Stephen Harper came to power, his government has been sceptical of the science on climate change and has backed away from Canada’s Kyoto commitment. In January, it muzzled Environment Canada’s scientists, ordering them to route all media enquires through Ottawa to control the agency’s media message. Last week, the prime minister and members of the cabinet failed to attend a ceremony to honour the Canadian scientists who contributed to the international climate-change report that won a share of the 2007 Nobel Peace Prize.

While factual claims about the nature of the universe do have political ramifications – think of the reality of climate change, or evolution – that doesn’t mean that the expression of factual information is a political act. Further, society has an enormous interest in the dissemination of accurate information, and the formulation of policy on the basis of such information. As such, it is encouraging to see scientists asserting their right to express their expert opinions, even when doing so is politically challenging for the government.

High schools should teach about mortgages

In high school, every year I had to take a course called ‘Career and Personal Planning’ (CAPP). For the most part, it combined invasiveness with uselessness. Most memorably, in my final year of high school we were all asked to prepare binders full of personal information: bank statements, medical records, etc. These were to be submitted for grading, and were kept in heaps in unlocked classrooms. For mine, I submitted a bunch of documents that were heavily redacted in CIA style, along with a copy of British Columbia’s Freedom of Information and Protection of Privacy Act. I admit that it was a good idea to encourage high school students to collect copies of important documents in a safe central location, but it was definitely inappropriate to them gather all that information.

The course also featured a number of methodologically dubious exercises designed to help people choose a career, along with some more useful segments on things like resume preparation.

One thing CAPP never discussed – as far as I can recall – is mortgages. This seems like a rather serious omission, given how most Canadians will probably be associated with a mortgage at some point. It seems like common sense to teach people about interest rate options, down payments, and matters like what happens if you decide to move before paying a mortgage off.

Generally speaking, I think people put too much emphasis on home ownership. As the recent economic crisis has demonstrated, houses are not assets guaranteed to appreciate in value at all times. While it is true that ‘at least you have a place to live’ if you invest most of your savings in a home, I think it is smarter overall to invest in a more diversified way. Of course, the decisions made by each person reflect their preferences and personalities. Given the high proportion of Canadians who will deal with mortgages, it just makes sense to teach about them in high school. That is, after all, the last stage of compulsory schooling in Canada, and meant to convey the basic skills necessary to function in Canadian society.

Canada doesn’t deserve a UN Security Council seat

At the moment, Canada is competing for one of the ten non-permanent seats in the United Nations Security Council – the principal international body charged with the maintenance of international peace and security. Canada thinks of itself as an internationalist country that has committed itself to peacekeeping and other forms of international assistance. Unfortunately, Canada is also doing virtually everything in its power to worsen the most pressing medium-term threat to international security, namely climate change.

At the moment, the United Nations process designed to find a successor to the Kyoto Protocol is going nowhere. While that situation has many causes, one of the most important has been the unwillingness of developed states to make real commitments and take meaningful domestic action. For its part, Canada has adopted targets that would be better than nothing, but which are neither fair now adequate. In order for the world to avoid dangerous climate change, other countries would need to pick up the slack created by Canada’s lack of ambition. Even worse, Canada has no credible plan to meet those targets, and has taken no serious domestic action on climate change.

Right now, Canada is flirting with some of the most dangerous energy options out there. These include unconventional oil and gas, including the oil sands and shale gas, as well as fossil fuel reserves in formerly inaccessible places like the Arctic. Chasing those fossil fuels is foolishness. It commits us to perpetuating an energy system that profoundly threatens future generations, and redirects resources from the task of building a sustainable basis for our society.

As long as Canada continues to behave with such reckless disregard for those outside its borders, including those who are not yet born, it doesn’t deserve the prestige associated with a Security Council seat. To be sure, some of Canada’s international actions have been and are praiseworthy, but that doesn’t counterbalance the way in which Canada is helping to commit the world to a colossal blunder. Ultimately, it may require Canada becoming an international pariah before our government will stand up to the oil and gas sector. Hopefully, it won’t come to that. If Canada loses its bid for this seat on the basis of domestic and international disapproval of our environmental record, perhaps it will be a much-needed signal that our recent conduct has been unacceptable.

[Update: 12 October 2010] Canada’s bid was unsuccessful. Hopefully, the embarassment will encourage Canada to play a more constructive role in future climate change negotiations.

Debating the oil sands

On November 13th, Green Party leader Elizabeth May will be debating Ezra Levant, the author of Ethical Oil: The Case for Canada’s Oil Sands. The event is taking place at the Library and Archives Canada on November 13th.

2:30pm – showing of the film “Mine Your Own Business”

4:00pm – approximate debate start time

It should be interesting. I may show up myself to ask Ms. Levant about the oil sands, climate change, and the importance of cumulative emissions.

I found out about the event via Apt 613.

A geeky mystery from the new GG

Last week, I heard but did not see the CF18 jets that did a flyover of Ottawa to commemorate David Johnston becoming Canada’s new Governor General. While I believe that the monarchy is a dated institution that ought to be scrapped, I do appreciate one modern touch Mr. Johnston brought to his office, in the form of a geeky mystery built into his coat of arms. Along the bottom is a palindromic binary sequence: 110010111001001010100100111010011.

Converted to decinal representation, that is: 6830770643. In hexadecimal, it is: 1972549d3.

The decimal is pretty close to the current estimated world population. The number is also a Sophie Germain prime.

The CBC Inside Politics blog has been puzzling over the sequence, without success. So has Slashdot. Whatever the meaning of the string is, it seems to be better concealed than the MD5 hash in the emblem of the United States Cyber Command.

Any ideas?

What’s possible?

Right now, the majority of educated Canadians seem to believe that one or both of the following is impossible:

  1. For the world as a whole to reach carbon neutrality – the state where net greenhouse gas emissions are zero – before 2100
  2. For the global economy to be restructured to run on forms of energy that are zero-carbon and renewable

And yet, both of these intertwined changes seem to be necessary if we are to avoid dangerous or catastrophic climate change.

My question to readers is: what would make the majority of people in Canada and around the world accept those two situations as at least possible? That is a necessary prerequisite to them being seen as desirable and, ultimately, necessary.

Ottawa’s ‘Beaver Barracks’

The rather unfortunately named ‘Beaver Barracks‘ is an ecologically oriented housing development, being put up by the Centretown Citizens Ottawa Corporation (CCOC). Two buildings are under construction now, at 464 Metcalfe and 160 Argyle, and they are expected to accept their first residents in November and January, respectively. The building on Argyle will be four stories, while that on Metcalfe will be eight, with a roof terrace. Two additional buildings are expected later. In the middle, community gardens will be put in when construction is finished. The whole complex is located just south of the Nature Museum.

I first found out about the place by means of Zoom’s blog.

Sustainability features

For me, the most notable feature of the buildings is how they will be the largest residential development in Canada heated and cooled using ground-source heat pumps. Sylvie Trottier, CCOC’s Green Animator, sent me some details on the system:

The system we are building is a central distribution loop designed to deliver a specific temperature (70 degree F) to heat exchangers located at each of the four buildings. As well, it will provide this same 70 degree temperature to the domestic hot water system via a double wall heat exchanger. The geothermal ground loop is designed to provide 70% of the peak load of the system via the heat pumps; this design actually provides 90% of the annual load. The boilers plumbed to the central loop are incorporated to assist the geothermal heat pumps in maintaining the design temperature of 70 degrees during the peak demand period. The Domestic Hot Water system (DHW) is connected to the central loop through a double wall heat exchanger. The central loop provides the DHW heat pump with a temperature of 70 degree. The DHW heat pump raises the temperature to 150 degree F. The boiler attached to the DHW system is used for the peak periods when the heat pump system requires assistance in maintaining the design temperature. During the cooling season the heat being removed from the building is captured by DHW heat pump system and used to supply the DHW. This feature enhances the overall efficiency of the central plant system. Also important to note is that the central distribution system will maintain itself through a balance of heating and cooling during the shoulder seasons, when the loop temperature is simply maintained through the space conditioning requirements of the tenants.

The central distribution loop will then feed heat pumps in each unit that will provide tenants with control over their own heating, cooling, and hot water.

Geothermal heating and cooling seem ideally suited to Ottawa, given how the city experiences extremes in both summer and winter temperatures. Other sustainability enhancing features include a green roof, low-flow fixtures, efficient lighting and appliances, and a high performance building envelope.

The architects are Barry J. Hobin & Associates Architects Inc.

Unit selection

I attended one of their information sessions yesterday, and ended up submitting an application to live in B^2 (as I prefer to think of it). My top two applications were for 683 square foot one-bedroom apartments in 160 Argyle, with this layout:

The balcony and windows look south, into what will eventually be the central garden area. For the immediate future, they will overlook a construction site.

Reading floorplans isn’t something I have much experience with, so if any readers have the mental ability to turn these pictures into an image of what the apartments will be like, I would appreciate your feedback.

The other unit I applied for, as a third choice, is a 602 square foot one-bedroom apartment, located on the 5th floor of 464 Metcalfe. It has this floorplan:

The bedroom window would look north, toward the Museum of Nature, with the balcony above the central garden area.

The rent for each unit is $956, plus various expenses. For the units I selected at 160 Argyle, heating and cooling are $62.83 per month. For that at 464 Metcalfe, it is $55.39. HST, electricity, laundry, and internet would be on top of that. Both places are significantly more expensive than my current place, but I think it would be worthwhile for a couple of reasons: primarily, for the benefit of living in a situation where I would be more likely to meet new people, and in order to encourage more sustainable construction.

Lots of other unit types are available: ranging from bachelors to three bedroom units. Heating and cooling costs are set per square foot.

[Update: 1 October 2010] I got word from CCOC. I will be moving into a place modeled on the first floorplan, on 1 January 2011. It will be on the fourth floor of 160 Argyle. It will be my second non-university-residence home.