Should You Pay to Read The Globe and Mail?

TheGlobeandMail.com and GlobeInvestor.com Are No Longer Free

First Published Date: November 7, 2012 ADawnJournal.com

Blaming its declining ad revenues, Globe and Mail recently started charging online readers accessing more than 10 articles per month for $19.99 monthly. I have been a religious Globe and Mail reader for a long time and have been contemplating whether to pay for online access or not – and I am sure the majority of online readers are in the same boat as me. Today, I will discuss whether to pay or not to pay to read Globe and Mail online.

Free access to information or knowledge is a basic human right. Free access to information serves as the basic foundation to develop and build a better society – a society better in every aspect: economically, culturally, and technologically. The Internet opens up endless possibilities to access free information across the globe. However, in the name of declining revenues, free access to information has severely been compromised by publishers around the globe. And the recent Canadian version is the Globe and Mail’s restriction.

Now let’s come to the question of whether you should pay or not to read the Globe and Mail online? Unfortunately, there is no straightforward answer. The answer lies in how you value the Globe and Mail content. If you feel it is worth it to pay $20 a month to have full access, you can pay to read. If you think there are still so many other sites available for free and there is no point paying $20 per month, you know what to do.

$20 per month may not seem like a lot of money. However, if you consider the gross amount you need to earn to spend $20 per month annually (considering you are in a 40 percent tax bracket), it comes to $400 gross amount per year. Are you willing to spend $400 gross yearly to read one site? I am not. When I first heard the news that the Globe and Mail will be a paid site and the figures were not published yet, I thought to myself that if it’s $10 a month, I am willing to pay. If not, I won’t.  

There are many other sites you can still read for free. I am mentioning a few of them here. Search online for more and I am sure you will come up with at least one or two that you would like to read instead of the paid Globe and Mail.

Five Simple Steps Toward Financial Literacy

Financial Literacy Does Not Have To Be Difficult

First Published Date: November 15, 2012 ADawnJournal.com

November is Financial Literacy Month. This is a special post to participate in Blog for Financial Literacy campaign. 

Financial literacy does not mean you need to have an MBA, CFA, CGA, and so on or you spend hours endlessly deciphering the Wall Street Journal everyday. Financial literacy begins with taking some simple steps and today I will discuss such basic steps you can take right now to build a solid financial future.

Step One – Spend Less Than You Earn – This is the most basic, yet most difficult, step to take to become financially independent. If you can’t do it, any other financial plans will become meaningless.

Step Two – Pay Yourself First – If you have money in your hand, for sure you will spend it and it will be gone. Depending on your affordability, set aside 5 to 20 percent of your income every month and invest it in a low MER, income-generating and less volatile mutual fund or ETF. Do the whole Step 2 automatically so you don’t see this money and it gets deducted and invested automatically each month, year after year.

Step Three – Avoid Accumulation Debts – Avoid the accumulation of credit card or any debt. Use a credit card only when you can pay it off in full each month. Avoid buying a car or furniture on loan. However, good loans to build asset and generate income are okay, such as mortgage, investment loan, etc.

Step Four – Build An Emergency Fund – Have six months to one year living expenses set aside separately in a high interest paying savings account, mutual fund, or ETF.

Step Five – Set Goals and Review – Know what your goals are (such as buying a home, paying off a mortgage, retirement, etc.) and start saving realistically to pursue your goals. At least once a year review your progress and adjust your spending habits to reach your goals.

These five steps are not the end of financial literacy journey; they are only the beginning. Once you kick off your journey with these basic steps, start educating yourself more on financial literacy and flourish to become financially literate and independent.

India Feels Global Economic Crisis Heat

And There Is The Possibility of Credit Rating Downgrade

First Published Date: December 5, 2012 ADawnJournal.com

Although the Indian economy showed streaks of optimism in September after the government’s economic reforms program, it did not take long to become sluggish again. India’s stock index and as well as its currency has weakened since October. Finance minister P. Chidambaram was right to mention that India’s economy can not be insulated due to the economic crisis the world is going through.

In 2012, the Indian economy is expected to grow 5.5 to 6 percent. Growth is expected at 7 percent in 2013. Beyond 2013, growth should be back to 8 percent. However, the International Monetary Fund (IMF) slashed India’s growth forecast from 6.1 percent to 4.9 percent.

The industrial output showed slight signs of growth, but not enough to invigorate the economy. High inflation is also a concern – although it seems like inflation has eased slightly recently. The Reserve Bank of India (RBI) has kept interest rates unchanged in the last policy review. The expectations that RBI would lower interest rates did not happen. The RBI is to announce its next monetary policy on December 18.

Public sector enterprises have been blaming high borrowing costs for the sluggishness of Asia’s 3rd largest economy. Higher borrowing costs curb consumer spending and lower industrial output. The government has been blaming public sector enterprises for sitting on large amounts of cash without putting them on investments to help the economy grow. And then there is the recent fear that rating agency Standard & Poor’s might downgrade India’s credit rating. However, India’s government is in decline and a credit rating downgrade will not happen as India is taking all the necessary steps to ride through the economic crisis.

North Korea's Underground Illegal Economy

The Black Economy of North Korea

First Published Date: November 23, 2011 ADawnJournal.com

Like many other 3rd world countries, but on a larger scale, North Korean elites live a life of luxury accompanied by imported luxury goods such as luxury cars, yachts, the latest digital electronics, fine wines, expensive shoes, and so on. However, the country has difficulty feeding its general population. Its deteriorating rationing system can only feed about 4 million North Koreans. The other 20 million rely on the black market economy. Also, the government elites need the black market or illegal economic activities to generate foreign currency to support their lifestyle. It’s a situation where both groups benefit. For one group, it is essential to buy food in order to survive; for the other group, it is essential to buy their luxury goods.

According to an estimate, the North Korean regime has spent US$ 1.04 billion or possibly more since 2008 to import luxury goods from foreign countries. To buy these goods, North Korea needs foreign currency. However, its own currency can’t be converted to foreign currency, as North Korean currency is worthless outside North Korea. So, where does Kim Jong II get U.S. dollars to fund his regime?

The country does not have a manufacturing sector to manufacture anything that can be sold outside to get foreign currency. There are hundreds of abandoned manufacturing factories all over North Korea with broken glass or windows; they look like ghost factories. North Korea uses thousands of acres of land to grow opium and use these about-to-collapse factories to manufacture narcotics at night on state level. Then the North Korean government uses government-backed drug dealers to transport it to China. In North Korea, the government uses its law-enforcement agencies to crack down on small non-government drug dealers so government drug dealers can mind their business without any interruptions and provide dollars to the regime.

Although there is nothing being manufactured in North Korea, the government is very good at manufacturing illegal weapons. The government uses its military and other departments to manufacture a wide array of weapons ranging from rifles to missiles, chemicals and nuclear warheads. These weapons are sold to other rogue regimes, drug dealers, and terrorists across the globe through the black market to earn foreign currency.

North Korea manufactures counterfeit U.S. dollars (supernotes) and sell them in the underground black market (mainly in China across its border) for a 40 to 50 percent discount to get real U.S. dollars. North Korea also manufactures gigantic monuments depicting 3rd world country “glorious” leaders. These monuments cost millions of dollars a piece.

The pain, agony, and suffering of the North Korean population is deplorable. However, its black market economy is booming, and so is the living standard and lifestyle of North Korean elites.

First Impressions of Cairo | Egypt Travel Blog: Day 0 (Part 2)

Airport to the Oasis Hotel, Alexandria Desert Road, Giza, Cairo, Egypt

Egypt Travel Blog: 10 DAYS Egypt Explorer - Felucca Cruise & Red Sea

My airport guide brought me to a car in the parking lot. There were no other passengers or guides. He said the driver would take me to my hotel, so we headed towards my hotel, which would be about an hour's drive.

After exiting the airport, the highway to Giza seemed to be on high land and it offered a very nice view of Cairo from afar.

My first impression of Cairo was on the drive from the airport to the hotel. The first thing on the street I noticed was that no one was following lanes and driving was chaotic. Some drivers were cursing at each other for trying to cut through or whimsical overtaking, although it seemed to be the norm. I instantly realized that I was no longer in Canada.

One strange thing that struck me right away is the intertwining of ancient and modern Egypt. Although it’s a modern city, Cairo still has that ancient feeling. It’s like Ancient Egypt lives within present Egypt’s modern structure and modern landscape. I have not had this kind feeling anywhere else - that I am in a very ancient city. The structures, air, noise, smell, landscapes, sights in the distance … everything reminded me that I am experiencing a living history 3000 years old. 

I noticed lots of frames of abandoned buildings that were never completed. I was not sure why so many abandoned buildings were left standing like shadows of ghosts.

I will write more about Cairo in future posts, but if you want me to summarize Cairo, I will tell you this: Cairo is crazy, intense, chaotic, confusion, mayhem, noisy, polluted, hot, unthinkable, uncontrolled, disorganized, and dirty.

But don’t get me wrong here. I didn’t say I disliked Cairo. What I mentioned above is what makes Cairo unique. Cairo is also colorful, vibrant, ancient, full of life, welcoming, safe, friendly, bubbly, warm, and accommodating.

There was something about the ancient sprawling mega metropolis that tugged at my heart and I put Cairo on my list of Forever in Love. I will not hesitate to visit Cairo many times in the future.