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Carrick Reader: Why the young should cheer government austerity

Protesters bang pots and pans as hundreds of people march through the streets during a demonstration in support of striking Quebec students in Vancouver, B.C., on Wednesday May 30, 2012.

DARRYL DYCK/THE CANADIAN PRESS

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Why the young should cheer government austerity
Young adults in Quebec have been demonstrating against government austerity in the form of tuition hikes, but maybe they're not looking at the big picture. If governments don't reduce spending now, then future debt problems could trigger much harsher cuts later on. This is the argument raised here by economic historian Niall Ferguson, who writes: "If young Americans knew what was good for them, they would all be in the Tea Party."

Student debt disaster
A 20-something financial blogger looks back on the mistakes that led to a huge debt on a student line of credit.

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Insuring the kids
A look at the thinking behind buying life insurance for your kids. My take is that you're much better off ensuring you have sufficient term life coverage and, if there's money left, buying critical illness coverage for yourself.

Cheap thrills
A list of cars that are comparatively low in price but fun to drive.

More money
Join the 14,000+ people who subscribe to my Facebook personal finance community for talk about investing, retirement, real estate, banking and other financial matters. I'm also on Twitter.

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About the Author
Personal Finance Columnist

Rob Carrick has been writing about personal finance, business and economics for close to 20 years. He joined The Globe and Mail in late 1996 as an investment reporter and has been personal finance columnist since November 1998.Rob's personal finance columns appear in The Globe on Tuesday and Thursday, and his Portfolio Strategy column for investors appears on Saturday. More

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