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la marzocco

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Everything posted by la marzocco

  1. It's dangerous to assume that a hike in the overnight rate to be an indication of good economic standing. The BoC has one simple mandate: to keep inflation within the target range of 1-3%. Inflation has been running quite high in the 2.5% region. The general more expensive tuition in the states + rising interest rate will already crush you, even if you assume USD:CAD is 1:1.
  2. Nova Scotia has its sights set on the growing pool of unmatched medical students in Canada as the province is finally moving forward on a plan to increase residency spaces. Ten more medical residents will be able to receive their family medicine training starting in July 2019. The placements will be based in rural parts of the province. Six will be in Truro, two in Inverness, one in the southwest region and one that will rotate depending on need. https://www.cbc.ca/news/canada/nova-scotia/n-s-increasing-residency-spaces-for-medical-students-1.4741484 I just checked CaRMS 2019 and all 10 will be CMG-designated in first iteration of the match.
  3. la marzocco

    Prêts Bourses

    Exact. Ca change rien. Mais avec les hausses prevues.. sois prudent et judicieux en utilisant la ligne de crédit maintenant plus que jamais.
  4. la marzocco

    Prêts Bourses

    Oui, la banque du canada a augmente le taux directeur mercredi dernier. Les banques, y compris Scotiabank, TD, RBC, Desjardins, etc. ont fait leur hausse le lendemain.
  5. la marzocco

    Prêts Bourses

    Je pense que la plupart des gens en DMD ou MD sont avec Scotiabank/RBC. Il faut souligner que le taux se change avec le taux directeur de banque du canada pour les prets. Maintenant, le taux de base est 3,7% (il s'est eleve la semaine derniere de 3,45% a 3,7% a cause de la hausse du taux directeur). Les prets pour les etudiants en DMD ou MD est le taux de base moins 0,25%. Alors, le taux pour les prets scolaires est maintenant 3,45% (pas 3,2% comme chevre123 a remarque). Les hausses du taux directeur sont prevues. En matiere de limite, Scotiabank a recemment augmente la limite de 300,000 a 325,000 pour ceux en DMD. Les cartes de credit sont egalement avantageuses a mon avis.
  6. It is a bit mixed. Rising tariffs could have a direct impact, pushing inflation higher while slowing the economy, a classic definition of stagflation. As tariffs of 10 or 25 per cent are added, that would tend to push prices up. Of course higher prices are the traditional indicator that the bank should raise interest rates. But a weakening economy tells them they should cut rates. The economy may be slowed, or it may speed up, but probably it will slow. But inflation is more likely to rise. BoC is bound by a single, simple directive: Poloz's sole official task is to keep the rate of inflation at between one and three per cent. Other central banks, including the U.S. Fed, follow a dual mandate: price stability, meaning low inflation, and maximum, or full employment.
  7. My friends in dent are super worried. Although they are practice-ready shortly after their dds/dmd, they wallow in a large amount of debt leading up to it.. and this is definitely not helping. "Our view is that the Bank of Canada will proceed with a series of rate hikes that will raise its overnight rate from 1.25% currently to 2.25% in the first half of 2019." http://www.rbc.com/economics/economic-reports/pdf/canadian-housing/house-jul2018.pdf This would mean the big banks' prime is going to be about 4.45%. The LOCs will be going at about 4.2% give or take.
  8. la marzocco

    Bank of Canada Rises Rates - again!

    As expected, the BoC hiked the interest rate by .25% this morning. The overnight rate is now 1.5%. This means the big banks' prime is now going to be 3.7%. Those with the prime less .25% LOCs will see their rate adjusted correspondingly to 3.45%.
  9. la marzocco

    The slow decay of dentistry

    There is an argument to be had where it should be merit-based. Quebec is the only province that does not do the whole dedicated IMG and CMG streams in the first iteration. As long as the IMG applying to Quebec residency spots has been vetted by the Bureau de cooperation interuniversitaire (BCI), then they can vie for the same spots as CMGs. To be vetted means (for IMG applying to Quebec), pass the MCCEE, either NAC or MCCQEII, and MCCQE1. The idea that CMGs should all match with the residual given to IMGs is one school of thought. The other is completely abandon streaming. If CMGs are truly meritorious in comparison to IMGs, CMGs might take back some of the previously IMG-designated spots. Edit: But there are obvious drawbacks to destreaming as well - without a truly meritocratic system, you run the risk of letting nepotism percolate more pervasively than streaming. So this destreaming change must be complemented by moving some standardized exam before the match. Quebec may also have gotten away with this bc 3/4 of the schools are francophone, so naturally there will be less IMGs being able to vie for those spots at those schools.
  10. Fair enough. I guess the sole announced change being the increase in the limit comes in as a bit underwhelming for some ha.
  11. I don't think it was necessarily this change that people were fixated on in particular. I think they were hoping there would be other changes. For example, whether the $500 credit that MD Financial is offering for its LOC is available? Since Scotia acquired MD Financial, it seems illogical for MD Financial to offer its LOC through National Bank. Another area was whether there would be any other incentives (such as iPad to match RBC or other credit card offerings, etc.)
  12. The odds for RCSI (or another Irish school) is definitely better. In the April 2018 CaRMS Forum report, 54.1% of IMGs from an Irish medical school was able to match back. Obviously, this is not saying you can't if you were to go to Australia since matching is largely dependent on the individual, but these trends do provide some context.
  13. Lynne Owen lynne.owen@scotiabank.com 416-866-3940 x4206
  14. la marzocco

    Dental education in Canada

    You can practise in France by virtue of the France-Quebec arrangement (http://www.odq.qc.ca/Étudesetdemandesdepermis/HorsQuébec/EntenteFranceQuébec/tabid/384/language/fr-CA/Default.aspx). For the United States, I am sure your Canadian DMD/DDS would also be recognized (https://www.ada.org/en/education-careers/licensure/state-dental-licensure-for-us-dentists). Graduates of accredited U.S. and Canadian dental education programs are eligible for licensure in the United States.
  15. la marzocco

    CMA backpacks

    Scotiabank doesn't own CMA. They now own MD Financial Management (MDM), which used to be affiliated with CMA.
  16. la marzocco

    CMA backpacks

    red for scotiabank's acq?
  17. la marzocco

    Confused about USDO and International Options

    Ha looks like @Edict just beat me to it
  18. la marzocco

    Confused about USDO and International Options

    Yes! Big big difference. USMDs - if you're a Canadian citizen, you are put into the same stream as CMGs in the first iteration. USDOs - if you're a Canadian citizen, you are put into the same stream as IMGs in the first iteration. You would have a higher chance of matching back to Canada by virtue of you having access to CMG-designated spots!
  19. Tbh, credit cards and LOC are both revolving credit instruments.. - credit is credit. so they should and would be treated the same. For me, they said once I close my non-Scotia cards, I need to just provide proof it has been closed and they would up the LOC back to $275K, but.. at this point, I haven't even bothered asking them to increase it back as I am not even close to $265K (.. nor do I want to be..)
  20. Hm. How it worked for me was a dollar for dollar decrease in my LOC - they don't really care if it's credit cards or your personal loans or student loans. For example, you have $275K of professional LOC that you qualify for, but for each dollar you have as your existing credit card limit, you will get a dollar reduction. For example, I had two personal credit cards with limits that totalled $10K before signing up for the $275K LOC. They told me that I would get a dollar-for-dollar reduction and be eligible for only $265K as a result. They said that once I cancel my existing credit cards, then they will raise it back up to $275K. Your Scotia cards they give you have nothing to do with this process as they are in excess of the $275K room.
  21. la marzocco

    Q&a With Mcgill Med Ambassadors

    To qualify for IP status based on your circumstances, you would likely fall under situation 6: https://www.mcgill.ca/medadmissions/applying/elements/proof-citizenship-or-residency You resided in Quebec for one year preceding the application deadline and did not study full-time at a Quebec educational institution. If you start working in Québec starting late Aug 2018/early Sept 2018, you will need to wait until late Aug 2019/early Sept 2019 for you to be considered IP. Having said that McGill Med is strict in that you must reach IP status by the program application deadline (generally November 1 of each year). Hence, you can start applying under the IP category starting at the earliest for the 2019-2020 admission cycle. You can still apply as OOP for the 2018-2019 though and try your chances!
  22. cleaning out my place - i have the complete TPR set for the new mcat (but circa 2015 so the edition is a bit dated) shoot me a message if you want it
  23. la marzocco

    New Gatineau Campus - 2020?

    Gatineau/Outaouais has always been a distributed med education site where you can do both core and elective clerkship rotations. But, I think OP was getting at the fact that McGill will be opening a medical school satellite campus (i.e., all 4 years in Gatineau/Outaouais). From what I know, the medical school will be built on top of the emergency room at the Gatineau Hospital and will open in 2020. Each year the program will place 24 new students from the McGill medical school into the mostly French-language, four-year program. Back to OP's question - I am not sure if the 24 new spots will cannibalize the # of students studying in the main campus.
  24. la marzocco

    using LOC for investment purposes

    Agreed. I am quite impressed with the new OSAP actually. The grants:loans ratio have improved and they are giving more money in absolute terms. OSAP loans are good too in that they are interest-free during school.. though prob need to refinance when you graduate since the interest rates are astronomical on these student loans lol