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rmorelan last won the day on June 13

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About rmorelan

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    Was a computer programmer/project manager. Now a resident.

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  1. I mean.....sort of ha. Of course it is complex but really the canadian dollar's value is based on how much other countries want our goods relative to how much we want theirs. The key is to buy something from a Canadian supplier you need Canadian dollars and Canadian dollars are limited in supply. It takes a bit to get your head around (well it did for me) but dollars are just another limited commodity that is affected by supply and demand. So when our interest rate goes up for instance IF everyone else's was lower then people would want to buy our bonds, which requires Canadian dollars, which would drive up the cost of those dollars (more demand, same supply) and cause a relative increase in value of our dollar to other countries. If however all the countries the world - or at least the ones that are at our level in terms of stability - have the same interest rate then nothing changes from an increase directly. If people want something we have - in many cases that is oil as an example- then our dollar will raise. If someone - say the middle east for instance increases production though, people don't want our oil as much as they can get it elsewhere, and our dollar can falls. It is very complex interaction of a ton of forces. That all being said, and I will say it again, NO ONE has any clue what is going to happen in the short term with the economy, interest rates and so on. It is just because the markets are not ruled solely by logic - people are "dumb panicky animals" and behave irrationally. That causes things to move in all kinds of ways that even the best experts cannot follow (which is why most mutual fund companies by a landslide underperform the market with costs considered - it isn't a problem you can solve by doing math) The best you can do is the long term average which we are actually not that far from - say 1.25 US to Can since 1990. The swings are dramatic through. Still when you are sitting exactly at around the average point you cannot be too optimistic things are going to dramatically rise.
  2. again to add - not a trap. Residents know clerks are unpaid trainees often in a stressful overwhelming situation. We just went through that experience very recently ourselves. We shield clerks in a ton of ways that are both obvious and not. If someone tells you to go - go.
  3. The is an old rule of thumb with student loans - that the total debit shouldn't exceed 10% of your earnings of the first 10 years post graduating (ha, if the income is the same each year you could just say one years gross income, but usually there is ramp up to higher incomes in most fields. That even happens in medicine). The US route does cross that line by quite a bit. The US options certainly was a lot more reasonable looking when the dollar was at 1.1 and had loans in can dollars to pay for things. Right now the US route looks like it would hurt quite a bit.
  4. rmorelan

    Blacked out Med bags

    Yeah I remember being surprised they became slightly coloured ha. Glad Ottawa is doing something similar to the rest of the country with respect to knapsacks. The day may come when we all switch to non sponsored knapsacks.
  5. rmorelan

    Clerkship resources

    .....that still sounds like Case Files to me
  6. first off this is all going to be guess work, probably for both has an to a degree them as well. They have not had a system like this in so long there is no institutional memory around it. You would think longer is better because of what they are looking for.
  7. rmorelan

    Clerkship resources

    this will help me update my info as well ha - when I went through we had all of the case file series. Seemed like very high yield. Is that still a thing out there?
  8. ha, hard to prove need I guess Seriously I got thousands very year when I was in med school - there were merit based ones and I managed to get a couple of those as well but they were for smaller amounts and harder obviously to get.
  9. at my medical school, a ton of them - the vast majority in fact are needs based, and since we all had no income and large tuition payments it wasn't hard to prove need.
  10. rmorelan


    which is kind of annoying as you lose all your stuff
  11. This is an interesting change - and yeah since most people are applying broadly anyway they will have EC which hopefully will serve. It does make it less transparent and will make the coming cycle much more interesting ha. Med schools - always changing things
  12. Yeah they are often worse off than meds even - in a slow squeeze
  13. Not announced - it is a part of their more likely predictions to come. Nothing formal or absolute yet until their rate announcement days - I guess there are 8 a year about 6 weeks apart so if it happens it will be one of those.
  14. all this is true - but it is the uncertainty of things that makes things as always messy. No one really predicted the rates would be as low as they were for as long as they were - which is always my point, in the short term basically no one really has a solid clue what is going to happen. For all we know we could have a long term series of increases here. You can never say that publicly as it causes panic in the market ha, but we don't really know where things will end up (and sometimes with some people predicting things is actually the cause of the change - if Warren Buffet or the US reserve said tomorrow we are in a recession, we actually could be in short order ). Bottom line - expect both rates and tuition to increase for the next bit and probably is becoming more wise to keep a solid eye on where your LOC money is going.
  15. ha, it is all about phrasing - I mean they are historically very low, and yet they are also they highest now than they have been in basically 10 years. How long is "many years"? It is the combination of raising tuition and raising rates continuing forward that worries me. Every time they raise the ceiling it is a reminder to me that the overall cost is simply that much higher.