This and That: Bank of Canada Rate Cut, Warren Buffet Interview and more…

1. The Bank of Canada cut interest rates by 0.5% this week. The commercial banks quickly followed suit and cut the prime rate by 0.5% to 3%. The press release accompanying the decision notes that the Canadian economy is now in recession but our central bank expects a rebound in 2010.
2. When Warren Buffett speaks, we pay attention. In an interview with PBS’s Nightly Business Report, Buffett holds forth on Barack Obama, the economy, the Madoff scandal, the stock market and investing. The transcript of the interview is available here.
3. With news on the jobs front getting drearier by the day, The New York Times offers tips on how to prepare for a financial disaster.
4. So much for ‘smart money’. Jason Zweig reports on how liquidity has dried up for university endowments, which gorged on alternative assets such as hedge funds and private equity.
5. If you are a car guy or gal, you might be interested in Preet’s tip on buying a civic and renting a Ferrari, instead of buying a BMW.
6. Michael James takes a look at an index-linked GIC and wonders if he can do better building one himself.
7. Clever Dude on why renter’s insurance makes sense.
8. Blunt Money on why tracking your spending will be very helpful.
9. Money Ning offers fifty tips to budget travel and save money on vacations.
10. That’s crazy talk! Million Dollar Journey has six reasons why recessions are a good thing.

Don’t forget to enter your name in the two giveaways: two Chapters gift cards and The New Rules of Retirement book.