[Canada] Canadian Politics Redux

[Neil]

I never use a credit card.  With Interact, why would I?

[viper37]

Duceppe is a liar.
Radio interview with Joel Denis Bellavance (french speaking journalist)]
http://www.radioego.com/ego/listen/7356

The english bit is here:
This is not a coallition

[Neil]

Of course Duceppe is a liar.  I have never had much faith in the integrity of members of the Bloc.  The PQ makes sense, but the Bloc is nothing but obstructionist nonsense.

[viper37]

I never use a credit card.  With Interact, why would I?

With Interac,

• you pay immediatly and get nothing.
• you incur fees for using your card, either for each transaction or as part of a monthly package wich gives you X #of transactions.
• you need to have the money in your account today, not in 3 days.
• you are limited to 1000$ a day, IIRC.

With a credit card,

• you consume now and pay later.  1000$ today is worth more than 1000$ in one month at continual compounding, hence you really pay 1000$e^r30/365 where r is the risk free interest rate, or your WACC if it's a company.
• You can get Airmiles.  So far, it has given me two ventilators, an A/C unit, several Famous Players tickets, a toaster, various accessories.  I'm not sure I really want to travel outside the country as I never really find the time to take time off from the office (can't remember last time I had more than a 3 day week-end vacation, and I usually don't take all my day offs except 24th june (too much drinking) and 1st of July (moving friends), so I use my miles for more practical stuff.
• the merchant incurs the fees, not you.  You're already paying the fees because the merchant includes them in his overall price, why not benefit from it?
• you can buy something on tuesday, when it's on special, even if you'll get the money only on thursday.
• you are limited to your credit card limit, even beyond, though they charge you, and they don't miss you for this "generous offer".

I'm not saying everyone should get a credit card.  But they have their use where Interac may not be as useful. 

Sometimes, I need to buy stuff on the internet, and a credit card is a practical thing to have.  Other times, and I'm in Nowhereville (like, say, Montreal ) and I need to buy stuff for a lot of $$, having a corporate credit card has its uses.  Can also help when one of your employees wants to rent a tool and the store won't let him leave unless he guarantees the price of the machine with a credit card.

And lastly we know since Pretty Women, at least, that all vendors are nice with credit cards.  Try that with your Interac! 

[Neil]

I have lots of money in my bank account, so I don't find that the whole 'you have to have money in your account' to be important.

Also, I hate Airmiles, and am willing to pay for decent seats.

I mean, I have a credit card, I just never use it.

[viper37]

I have lots of money in my bank account, so I don't find that the whole 'you have to have money in your account' to be important.

We're not all Albertans or lawyers

I usually have enough money in my bank account, but if I'm ask to pay 6000$ worth of wood pieces today, I probably don't have this in my personal account.

Also, I hate Airmiles, and am willing to pay for decent seats.

I don't travel a lot, I don't know.  In fact, last I took the plane was in 1990.

I mean, I have a credit card, I just never use it.

if you make a lot of small purchases, a credit card is good, fee-wise, as you don't bust your transaction limit.  Used to happen to me all the time before I started using credit card, costed me a fortune in transaction fees.  And it's not that easy to find an ATM from my bank.  Most of these ATM machines charge 3,50-5$ for a withdrawal.

[Jacob]

$3.50 - $ 5.00 for a withdrawal? That's insane.

The standard here is $1.50 if you're outside your network, unless you're doing one of the dodgy ones in a shitty 24 hour store or nighclub, then it's $2.50.

Of course, in civilized places there's no transaction fee at all....

[Neil]

$3.50 - $ 5.00 for a withdrawal? That's insane.

The standard here is $1.50 if you're outside your network, unless you're doing one of the dodgy ones in a shitty 24 hour store or nighclub, then it's $2.50.

Yeah.  I guess everything is more expensive in Quebec.

Of course, in civilized places there's no transaction fee at all....

I don't really see the point of that.  The banks need to make their money somehow.  ATM charges aren't a bad way to do it.  As for the fly-by-night ATMs, well the high cost are the reason that they are so lucrative, but I have no sympathy for anyone who uses them.

[Malthus]

No-one really wants an election to be about whether the RESP should have a $1000 top-up or not.

You don't think that is an absolutely vital issue?

That said, I don't think we can really blame the politicians for this; it's Canadian voters who have created the situation and will potentially recreate it.

I can blame the politicians of the two major federal parties for lacking a clearly articulated vision of what it is that they stand for (other than that they would enjoy being in power) and why the one is different from the other.

[viper37]

$3.50 - $ 5.00 for a withdrawal? That's insane.

The standard here is $1.50 if you're outside your network, unless you're doing one of the dodgy ones in a shitty 24 hour store or nighclub, then it's $2.50.

It's 2.50$ fees for the ATM, + 1,50$ bank fee, but 1.00$ supplemental fees at the end of the month.

If I find my bank's ATM, it's free, up to 15 transactions a month.

Of course, in civilized places there's no transaction fee at all....

Desjardins is the biggest financial institutions in Quebec.  They have ATMs in lots of places.
But I am with the National Bank, wich is the biggest bank in Quebec, but still hard to find in many places accross Quebec.
Going to Ottawa or Moncton, I'll find my bank's ATMs everywhere, but most often, I travel through Quebec.

[Grey Fox]

BMO, eh?

[viper37]

BMO, eh?

BNC.
There's no BMO in my home town, closests one are in Lévis and Rimouski, about 120km west or east.

[Jacob]

Here's Ignatieff's response to the Conservative attack ads we discussed earlier: http://www.youtube.com/watch?v=Dx8Q-9EWz3E&feature=player_embedded

Works for me, though I don't think grallon will like it.

[crazy canuck]

Speaking of attack ads. The Vancouver Sun site has collected the attack ads the parties are using so far during the election.  The Cons, NDP and Greens each have one.  The Liberals have three so far.  Like I told you Jacob, nobodies hands are clean on this one.

http://www.vancouversun.com/federal+election+attack/4530665/story.html

Btw, I am assuming the Bloc attack ads are not up because they are in French.

[Grey Fox]

I don't think the Bloc has produce any ads yet.