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First an apology that there was no weekly wrap last weekend because of a long weekend I took up in cottage country. Summer is fast fading!
This week the big macroeconomic story was China’s devaluation and the consequent negative impact on global markets. Probably the least confusing and most insightful analysis of this story was in The Economist, titled The Devaluation of the Yuan: The Battle of Midpoint.
On the retirement front in this country, the controversial story was the Ontario Government’s unveiling of the details of the much-loathed ORPP, or Ontario Retirement Pension Plan. This appears to becoming an election issue as the animosity between Stephen Harper and Ontario premier Kathleen Wynne heats up. We did weigh in with a recap on the Hub, which you can find here.
Note the references to two studies that came out hours before the official ORPP announcement, providing a little grist for the mill for both fans and foes of the plan. My own take on this will be in an upcoming Motley Fool blog but the main critiques of the ORPP — and there were many — are summarized below.
10 reasons ORPP should be T-ORPP-EDOED
