But not so fast, economist Neil Shearing of Capital Economics says.
In a research report, he acknowledges that emerging economies should grow by an average of 6 per cent annually over the next few years despite the problems in the West. In previous decades, the strong growth would have translated into a healthy demand for the developed world’s exports and helped to prevent the U.S. and Europe from slipping back into recession.
The hitch this time is that the emerging world will continue to run a large current account surplus – it will sell more to the developed world than it consumes.
Indeed, the size of the emerging economies’ surplus will increase this year, Mr. Shearing says. “In other words, far from helping the developed world out of its rut, emerging economies are becoming an increasing drag on demand in the rest of the world.”
Cars drive retail sales
Canadian retail sales were up in June – 0.7 per cent to $37.8-billion. A welcome bit of news.
Source:
Ask the Readers: What#39;s in Your Wallet? | Million Dollar Journey
Cash! and a few debit cards. I quit using credit cards been about 6 months.
I do have a Global Payment Mastercard which acts and uses the credit card system but is actually tied to a bank account.
I used to collect the points and rewards from the credit cards but I found its too easy to overspend, I never actually used the rewards and found out there is research that if you use cash instead of credit you actually tend to spend less ( around 15% )
Just my 2 cents
12 – mini Save-On-More card
also, a few receipts, some cash, some superstore gas bucks, some family pics and some business cards.
I should probably leave the AMEX card at home. I likely don’t need to carry around my firearms permit, Safeway and Air Miles cards could technically be left in the car, but I would likely regularly forget to take them into the store with me. Plus we have two vehicles, so it could be hard to remember to get them from one or the other every time one goes shopping. Same goes for the BCAA card and dilemma of which vehicle to store it in.
Should care card be carried?
Apart from the standard credit card/ID/debit card/cash/library card I also have my health card, my card for getting into the office, pics of my husband and my dog, a phonecard in case I need to call Ireland, work-related receipts for expenses, a bunch of business cards, gym membership card, my TTC (transit) pass and spare hair ties. I carry a lot of crap around, but I’m a girl, I have a bag for my bulging wallet.
Frugal I just remembered that Esso has a speed pass thingy that you can attach your smartcash cc to and it tied to your points card. So you don’t have to carry that points card around. Just use your speed pass at esso. Kind of convenient too, you don’t have to swipe your card or go into the store to pay. This is how I do it as I rack up the free car washes too to use in the winter. (only use touchless if you care about your paint)
