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Wednesday July 27, 2022
Training wheels

Happy 50th birthday, Honda Civic. 

This cute little Japanese import was born in 1972 and reached North American shores a year later. Price tag? $2,000. 

And that was the same on either side of the border because the Canadian dollar was pretty much on par with the U.S.

Since then, Honda has sold more than 2.2 million of them in Canada.

It's entirely possible that one of those early Civics was your first set of wheels a decade or so later when you got your driver's licence and had saved up some dough.

There were lots of great things to say about it. It was easy to park, easy on gas, and easy to spot in the parking garage at the mall. But with only 50 hp you know what you couldn't say?

You got a fast car ;)
IN THE NEWS
Prices could fall as fast as they rose 
Source: unsplash.com
Inflation hit a nearly 40 year high at 8.1% in June, still rising from May but not as high as economists thought it would be. 

It's a sign that might indicate the wave has crested, though economists are cautious in their optimism. 

"The next six months will likely continue to be challenging and we could see a second peak later this year before price pressures ease in earnest in 2023," according to BMO chief economist Douglas Porter.

Nonetheless, the optimism is derived from real economic indicators. Commodity prices have fallen 20% in six weeks, gas prices are down over $1 a gallon in the United States, and wheat futures are down 30%, erasing the spike created by the war in Ukraine.

Furthermore, global supply chains seem to be settling down as global demand for goods falls as well. Transport rates are dropping and retail inventories are rising, as higher interest rates hamper consumer spending.

Rising interest rates are also set to trigger a major housing correction that is likely already underway. More on that in the next story.
REAL ESTATE
Historic correction
Source: unsplash.com
RBC assistant chief economist Robert Hogue wrote a report on Friday that predicts Canada is in for a housing market correction of historic proportions.

It predicts that housing sales will fall 23% in 2022, 15% in 2023, and fall by 42% overall from its peak in 2021 to where it will land in the second quarter of 2023.

The drop in sales will exceed all other major corrections recorded in the last five decades.

It also predicts national benchmark housing prices will fall 12% by Q2 of next year. While the market has been slowing since the Bank of Canada began raising rates, prices have still been rising on an annualized basis.

Those days are set to end, with actual contraction expected shortly as the Bank of Canada enters what it calls restrictive interest rate levels.

Typically, once a central bank's key rate exceeds 3%, it's considered restrictive, meaning it's consciously trying to restrict borrowing in order to cool off the economy. 

Despite the early signs that inflation has plateaued, the Bank of Canada has no plans to ease its aggression in the near future.

Markets now consider it a foregone conclusion that the central bank will raise the key rate by either 50 or 75 basis points in September, bringing the rate up to either 3% or 3.25%.
POLITICS
Horwath to run for mayor of Hamilton
Source: Twitter/@AndreaHorwath
Another former Ontario party leader is leaving provincial politics to pursue city leadership. This time, it's former Ontario NDP leader (and Staker!) Andrea Horwath, who seeks to become the 58th mayor of Hamilton.

According to Horwath, she hopes to help Hamilton "realize its potential."

Horwath came up short in Ontario's June election, winning her seat, but failing to retain the strength held by the NDP leading into the election, with the party losing several seats to the Liberals and Progressive Conservatives.

Hamilton's current mayor Fred Eisenberger is stepping down after his term. Horwath will join three other candidates already in the race, including former mayor Bob Bratina, Keanin Loomis, who is running for office for the first time, and labour advocate Ejaz Butt.

"Like most Hamiltonians, I'm a fighter. I don't give up until the job is done and I'm also prepared to do the hard work," Horwath said.

She was born and raised in Hamilton, and hopes to return to the city council she was a member of from 1997-2004 before winning the provincial seat in Hamilton East. In 2007, she secured the seat for Hamilton Centre, holding it since, and will resign in order to run for Hamilton mayor.
WELLNESS
Gotta gamble? Here's some advice
Source: unsplash.com
Gambling can be a fun source of entertainment, with wild ups and downs that create a rush. But all too often, it comes at a cost a gambler can't afford.

In Ontario in particular, with the launch of iGaming in April, there's never been easier access to gambling. And that means there's never been a bigger threat to those at risk of becoming compulsive gamblers.

Identifying a gambling addictions can be challenging because unlike substance abuse there are fewer signs. But there are definite warning signals.

If you find yourself irritable when you can't gamble, pulling money from different uncommon sources to fund bets, or unexpectedly betting more than you initially intended to, you're showing signs of an existing or developing problem.

To avoid going down the wrong path, the Canadian Centre for Substance Abuse and Addiction recommends betting no more than 1% of your monthly income per month, and placing bets no more than three or four days a month.
WHAT UP WEDNESDAYS
Talk about your childhood wishes
Source: unsplash.com
Eat candy, make $100,000. There really doesn't appear to be a catch.

Candy Funhouse, an online candy store located in Mississauga, Ont. has a job posting currently listed for Chief Candy Officer.

The salary for the role is $100,000, allows the hiree to work remotely, and would simply entail leading the "FUNhouse" strategy.

Okay, but really, what are the details...? 

According to the job posting on Candy Funhouse's website, "This includes approving all candy in inventory and deciding whether or not to award each treat with the official 'CCO (Chief Candy Officer) Stamp of Approval'”

Yes, this means you can get paid $100,000 a year to sit at home and simply eat candy.

Again, this is real, and you have until Aug. 31 to apply. All that's asked of you in the application process is your name, resume, and a cover letter. And we recommend you try to be sweet.

If #TheCandyManCan, you can ;)
POP CULTURE
Harvey Specter's condo on the market
Source: David Fleming
If you were a fan of Suits, the legal drama about a scallywag named Mike Ross who bamboozles the world into believing he's a lawyer, then you'll certainly remember the pristine living space belonging to his boss, Harvey Specter.

Harvey, the show's co-protagonist and partner at the law firm where Mike worked, was a flashy narcissist who loved the finer things in life, including vintage scotch and vinyl records.

The show was set in New York, but filmed in Toronto, and Harvey's penthouse condo on the show is for sale in real life in downtown Toronto for just under $5 million.

The condo had the New York skyline superimposed onto its floor-to-ceiling windows for the show, but really sits atop a mid-rise condo building near King and Portland in Toronto.

It's 3,000 sq. feet, and though some of the condo has been altered, much of it still resembles Harvey's pad, including the floors, countertops, and appliances. Even the shelves where Harvey kept his massive collection of vinyl still sit along the wall of the unit. 

Thinking about putting in an offer? As the man himself said, “Next time you ought to make a life-altering decision, just ask yourself ‘What would Harvey do?'”
CONSUMER
The Choco Taco has fallen
Source: Unilever
It was a sad day for ice cream lovers everywhere the other day when Klondike officially discontinued the Choco Taco after nearly 40 years of innovative brilliance in the ice cream sandwich space.

"When you eat a sugar cone, you generally eat the nuts, chocolate, and ice cream on the top. With the Choco Taco you're getting the ice cream, cone, nuts, and chocolate with just about every bite," recounted Alan Drazer, the inventor of the treat.

Invented in the '80s, the Choco Taco was originally only sold on ice cream trucks, until its popularity forced Unilever, the owner of Klondike, to start mass distributing it to meet demand.

What would you do for a Choco Taco? As it currently stands, you may have to traverse the land for gas stations and convenience stores still sitting on leftover inventory.

On the other hand, a shred of hope remains. On Tuesday, Reddit co-founder Alexis Ohanian tweeted at Unilever, seeking to purchase the Choco Taco IP, and "keep it from melting away from future generations' childhoods."
FUN
Satisfying and delicious
Ok candy fans, here's today's fun. We're giving you the ingredients, you tell us what confection we're talking about!

Sugar, Glucose Syrup, Modified Corn Starch, Carnauba Wax, Citric Acid, Mineral Oil, Natural and Artificial Flavours, Colour.

Sitll not sure? Find out here!
Have a great day ahead Staker!

Today's edition was written by Michael Cowan and Maureen Norman
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