Features
Mitch Podolak: ‘A Citizen of Earth’
By KINZEY POSEN (Ed. note: This story first appeared in the October 11, 2017 issue of The Jewish Post & News. With the Annual Winnipeg Folk Festival about to celebrate 50 years since its inception – and which MItch helped create – along with his wife Ava Kobrinsky and Colin Gorrie, we thought it an appropriate time to reprint Kinzey’s moving tribute to Mitch.)
Last November Mitch Podolak was leaving one of his favourite Winnipeg restaurants, the Evergreen on Pembina, when he suddenly fell outside. As he lay there somewhat stunned, he realized that this fall was about to change his life. He couldn’t feel the lower part of his body after landing hard on his neck.
Fast forward to September 2017 and I’m sitting with Mitch in his apartment on Sterling Lyon Parkway in Tuxedo. He just turned 70 on September 21st. When I said, “Imagine, Mitch Podolak living in Tuxedo,” he quickly says, “It’s the wrong side of the tracks.”
In a way I guess he’s right – you can see and hear the rail line close up from his window and Ikea is across the road. He and his wife, Ava Kobrinsky, moved there after he was released from the hospital in April of this year. They still have their home in Wolseley, but Mitch can’t negotiate the stairs and living on one floor is the way to go for now. These days, Mitch uses a motorized wheelchair to get around and his apartment has specialized equipment to help him stand and perform his physiotherapy. He admits he loves the exercise.
Mitch has come a long way from that fateful day last November and can now stand on his own, walk unaided for a short distance, and has regained much of the feeling in his body. There’s still a long way to go to be considered normal, but he’s confident that by the end of this year, he’ll be more mobile.
For those who know him, Mitch’s name is synonymous with the Winnipeg Folk Festival, the Edmonton and Vancouver Folk Festivals, the West End Cultural Centre, The Stan Rogers Festival in Canso, Home Routes… the list goes on. He’s also well known for his political action and work in trying to bring about change. His efforts have led to his being awarded an Honourary Doctorate from Brandon University and the Order of Manitoba from the Province.
When Mitch had to attend the award’s ceremonies, he knew that he had to wear something a bit more sophisticated than his usual black T shirt and jeans. He called up friend and magician Brian Glow to be his fashion consultant. After spending $600 on a dapper black suit, black shirt and silver tie, Mitch shocked many by appearing in his new clothes.
So how did Mitch come to be where he is now, a veritable living legend – a man with more stories to tell than a recovering addict at a 12 step meeting?
It all started in Toronto in 1947, when he was born to Rhoda Layefsky and Noach Podolak. His dad was 20 years older than his mum. Mitch is the youngest of three children – after Alice, the oldest, who lives in Cape Breton, and his brother Mark, a retired Treasury Board Analyst in Ottawa, who’s known as the “white sheep” of the family.
The Podolak family lived on Major Street, in a neighbourhood full of Jews and Europeans located between Bathhurst and Spadina. His father Noach, originally from Poland, was a housepainter, who also did theatrical sets for the Yiddish Theatre in New York for a period of time and was a friend of the well known Jewish actor, Paul Muni. His mum Rhoda was a strong, loving woman, who was born in Canada. Her dad, Mitch’s grandfather Avram Liebe, played a special role in his life and was his hero. The two had a special relationship. During the Spanish Civil War, Rhoda was an organizer for the Friends of the Mackenzie-Papineau Battalion.
Both Mitch’s parents were passionate socialists and he grew up in a rich atmosphere full of fervent political discussions. Mitch’s dad was a member of the Communist Party, but pulled out of the organization in 1956, over the invasion of Hungary and anti-Semitism in the Soviet Union. It was also the year he died, when he was only 56. Mitch was only nine years old at the time and Rhoda, who was now widowed in her thirties, turned her energy to providing for her three kids. She worked as a bookkeeper and remained a widow until her passing in 2005.
At the age of seven, Mitch started to learn how to play the clarinet. The lessons were classical and he really didn’t like it. Although he grew up in an era when rock & roll was making its debut and was just beginning to move the world in a different direction, Mitch was destined to follow a different musical path altogether. When he was 13, his older sister Alice had two tickets to go to a concert at Massey Hall with a guy who was a no-show. Instead, she took Mitch, who thought his sister was going to take him to the symphony. To his surprise, it was to a concert that forever changed his life. The featured performer was folk legend Pete Seeger and young Mitch was simply awestruck, especially by one song. On the way home, Alice explained to him what that particular piece, the “Bells of Rhymney,” was about and what the performer was trying to get across to the audience. He connected with the songs in a way that was new and liberating. Since that day, Mitch has become an ultra passionate supporter and fan of folk music, the kind we call “singer songwriter” now. Along the way, he also learned how to play the banjo quite well.
Mitch comes by his musical ability quite honestly. His uncle Philip on his dad’s side was the conductor of the Polish Army Symphony and his dad, Noach, played the clarinet.
Growing up in a very socialist family, Mitch was sensitive to the actions of the McCarthy era. He recalled two television shows in the fifties that were anti-Communist: “The Man called X” and “I Led Three Lives.” Both seemed to have the communists meeting in basements, with peeling paint and bare wire light bulbs hanging from the ceiling. The plots were often about how to recruit new members and sabotage buildings. On the walls there were portraits of Marx, Lenin, Engels, and Stalin, and they all spoke in bad Russian accents.
As Mitch’s awareness of how socialism could benefit society deepened, he recalled one event that sticks with him till today. It was seeing a hungry man eat chicken out of a garbage can – an image that’s put much into perspective for him.
In 1961, at the age of 14, he joined what was known at the time, as the Y.S.A – the Young Socialist’s Alliance, in Toronto – a Trotskyite youth movement, where everyone called each other “comrade”. Mitch was the youngest member by only a few months. When he first attended a meeting, much like the TV shows, there were portraits on the wall of Marx, Lenin and Engels, but instead of Stalin, there was Leon Trotsky. His involvement gave him the tools and inspiration to engage in socialism and later the anti Viet Nam war movement. Around that time, he met Harry Paine at a movement meeting – a man who would go on to become one of his best friends.
In 1968, Mitch made the move to Winnipeg to study as a mature student at the University of Manitoba and specifically do political organizing. He also established the Vietnam Mobilization Committee. Mitch recalled one particular scene during this period, when he and his friend, Joe Flexer, organized a major event at the U of M. They wanted to go to the Dow Chemical Company’s recruitment centre on campus to demonstrate. At the time, Dow was one of the manufacturers of napalm, a rather nasty incendiary weapon used in Viet Nam against the Viet Cong and innocent people. It would stick to the skin and cause severe burns.
In anticipation, Mitch and Joe went to a hardware store and bought the biggest chains and padlocks they could find to lock the doors to the centre. After entering and insisting they be able to talk to the Human Resources manager, he eventually came out to hear their statement. It was Joe Flexer who yelled out, “Our statement is, get the f_____ off our campus you war-mongering c__k s___s!”
That’s when the situation escalated. The manager went back into the building and the protestors pulled out the lock and chains to stop people from entering and exiting. Soon, there were a thousand people and fights began to break out. As Mitch recalls, it was a crazy time. Mitch recalls that his salary as an organizer was a hundred dollars a month.
In 1970, he left Winnipeg and began to do more political work in Halifax. It was during that time that Mitch first met Winnipegger Ava Kobrinsky, his wife of 40 plus years. They met in 1971 at the Trotskyist Hall in Toronto and were soon married. They returned to Winnipeg in 1972 when Mitch was 24.
Two years later, Mitch co-founded the Winnipeg Folk Festival with Ava and Colin Gorrie and his life took on a completely different dimension. Over the years, his expertise and vision helped establish almost all of the major folk festivals throughout Western Canada, plus others in Ontario and the Maritimes. He was a bona fide Folk Festival consultant.
As we talked, the subject shifted to music and Mitch showed me how he couldn’t use his left hand any more to play the banjo. Some of the fingers had lost their feeling and were also muscle damaged. He used his electric wheelchair to move over to his desk and grabbed a harmonica. He blew a few fat notes and told the story of how he came to play.
One night, while still in the hospital, at around 10:30 pm Mitch was in bed. He was startled to hear a familiar voice asking people outside his room, “Where’s Mitch?” when suddenly, well known blues musician, Big Dave McLean barged in.He handed him a harmonica and in his gruff voice said, “Here, learn how to play it,” and quickly left.
His multi-month experience in the Health Sciences Centre taught him several things. He can’t say enough about the doctors, nurses and staff who touched him through their professionalism, dedication and caring. He reflects a lot about what will happen with the impending cutbacks and what will happen when more baby boomers enter the system.
Back in January, Mitch’s good friend , singer, songwriter, and artist, Heather Bishop, organized a crowdfunding initiative to help finance necessary renovations to his home. It’ll allow him to live there eventually.
The goal was $20,000. It went live on Thursday and by Friday, the goal had been reached. Mitch was deeply touched by the outpouring of good wishes, stories and funds. It’s something he’ll never forget.
I asked Mitch if he had any regrets so far in his 70 years and his response was an immediate: “None.” I then asked what he was most proud of and he said, “The work we did to help stop the war in Vietnam, the West End Cultural Centre,” and, he added, the numerous folk festivals he established. Then, pausing for a few seconds, he smiled in his chair and said,“I’m proud of my relationship with my wife, our partnership, and my children.”
“Ava is an unsung hero, brilliant at organization, without her, none of this would have happened,” he added.
It’s not difficult to see what drives Mitch Podolak in terms of inspiration.
Basically, it’s two things: politics and music – in no particular order. It’s where it started for him and where he continues to flourish and contribute as a human being.
Mitch is constantly thinking of where to go next. His medical problems as a human being have given him plenty of time for introspection and he wards off any negativity by staying focused on his projects. His body may have slowed down, but his brain doesn’t rest.. The power of a moving lyric tied to a melody never fails to move him. Pair that with his love of freedom, justice and “menshlechkeit,” and you realize that what his family inculcated him is ever present.
He has three major projects he’s working on right now. One of them is a book entitled “Passing Through.” It will consist of 71 essays of people he has known throughout his life, including: his Uncle Meyer, who jumped off
the train on the way to Auschwitz, but whose family refused to follow him; his Zeida Avram Leibe – his mum’s dad whom he idolized and who taught him how to play gin; plus Mitch’s very close friends, Joe Flexer and Harry Paine, among 67 others.
Throughout the years, Mitch has kept in touch with his siblings, cousins, nephews and nieces. He appreciates family and the connections it brings. He calls it the core Podolak: people caring about other people.
I ended our conversation by asking Mitch how he feels about being a Jew. His Hebrew name is Melech which, of course, means king – and he likes the name. His mum Rhoda often used it: “Melech Ben Noach”, a.k.a. Mitch Podolak. Suffice to say, you’re not going to find Melech at any of the synagogues on Yom Kippur or on any other holidays. He loves the culture, the food, the music, the humour, but he’s an avowed atheist. He’s well aware of Jewish values and ethics and uses them to form his vision of a better world, especially the aspects of brotherhood and sisterhood. When it comes to Israel, Mitch has hopes of it becoming a socialist country, in the context of a socialist Middle East in which all Semites are equal and united in making a better world. In his way, Mitch Podolak has found a path to peace.
At the age of 70 and having to undergo a traumatic health setback, he’s remarkably selfless, stubborn, surprisingly traditional, and ever hopeful and optimistic. In fact, these days, at a time when his injuries won’t allow him to play his beloved banjo, Mitch says, “At least I can sing badly!”
(Ed. note: MItch Podolak passed away in August 2019.)
Features
Exchange Rate Factors: What Global Events Mean for Savvy Investors
When Russia invaded Ukraine in 2022, it created ripples in all financial markets, including currency markets. The Euro weakened while the dollar surged and emerging market currencies wobbled. Global factors can quickly affect financial markets and shake established trends. Apart from such rare events, currencies tend to change their price because of interest rates, inflation, and overall investor confidence. For investors managing money abroad, understanding these movements is critical to avoid losses and mitigate risks.
Below, we will break down how global political, economic, and cultural events influence exchange rates, with insights for savvy investors.
Economic factors
There are several key exchange rate factors with a consistent history of shaking financial markets. These factors include inflation, interest rates, trade balances, employment rates, and so on. Since economic factors are shaping markets almost daily, we start with those.
Inflation and interest rates
Inflation and interest rates are closely connected as one can easily affect the other. When inflation rises, central banks step in and raise interest rates to reduce inflation, and when inflation is lower, central banks can lower interest rates to make borrowing money cheaper. As a result, investors closely monitor these two metrics to anticipate changes in interest rates. Higher inflation makes currencies weaker, and whenever banks change the rates, the changes are immediately reflected in global currency rates. In the United States, the Federal Reserve is the central bank that sets interest rates in the country.
Trade balances and economic growth
A country that exports more than it imports has a stronger demand for its currency. More demand equals a stronger currency. However, the Japanese yen was always weaker against the dollar because the BOJ of Japan tends to have super low rates near 0 to support its exporters. Economic growth also increases demand for local currency as more investors try to invest in the country’s economy. Long-term investors often track this data to detect early signs of any changes in currency strength.
Political and geopolitical factors
Elections, sanctions, and overall political stability are also crucial factors. If the country gets under sanctions, its economy crumbles and its currency becomes inflationary, losing its value quickly. Elections are also crucial for a currency’s strength. Geopolitical events can have a serious impact on the currency as well. The most obvious example is the 2016 Brexit events that made GBP lose its value rapidly and violently. Global conflicts, such as wars, can seriously impact global financial assets, especially currency markets. When tensions are high, safe-haven currencies like USD and CHF (Swiss Franc) become very popular among investors as they seek a safe place to protect their capital.
Cultural and social factors
People like tourists, workers, and diaspora communities can shape currencies as well. Tourism usually drives seasonal demand, and countries that are popular destinations during certain seasons experience their currency appreciation as demand spikes. The perception matters as countries seen as safe and opportunity-rich tend to attract more investors, solidifying their currency strength.
Technology and innovation
Technology is seriously affecting everything, especially the financial sector. Digital payment systems, blockchain technology, and fintech startups have made it easy and swift to move money around. Cryptos and stablecoins enable investors to protect their capital using stablecoins during volatile times. The latest trend among banks is to work on CBDCs, which signals a new era where national currencies are blended with technology and blockchain. Despite this, currencies, even in their crypto form, will continue to be influenced by all major factors mentioned above, and knowing how these factors impact your currency is key to keeping your capital safe from risks.
Practical lessons for savvy investors
So, what do all these factors teach us about global currency rates and investing strategies? The key lies in proper preparations and anticipation. Monitoring macro trends, policy announcements, and major geopolitical and political developments is critical.
Diversify
The number one method which is used by professional investors is diversification. This simply means to spread your risks across a basket of assets. By not investing all your capital in one instrument, you can mitigate risks. If one asset experiences a loss, other ones will counter it with returns. Building a diversified portfolio is key to properly diversifying. For example: divide your capital to buy stocks, commodities, currencies, and cryptos so that if one fails to perform, others will counter it. This ensures a stable income without unnecessary losses in the long run.
Hedge
Forex options and ETFs are great hedging assets. Forex options let investors lock in an exchange rate for a future date, which is very useful if you expect volatility but want stability. Currency ETFs, on the other hand, track specific currencies or a basket of currencies and allow easy trading or protection without trading forex directly, but they are still risky.
Monitor the economic calendar
Economic calendar is a free online tool that aggregates important macroeconomic news data such as interest rate decisions, CPI, inflation, employment rates, central bank announcements and speeches, and other crucial information. By monitoring them, investors can always know when important news data will be released, and they can postpone their investment decisions to avoid volatile times and only invest after the main trend is determined.
Features
The Canadian Dollar is on a slow decline. Should you save in euros or US dollars instead?
The Canadian dollar has been losing its value against the dollar this year. For Canadians, this raises a simple question: if your CAD is losing ground, is it better to move savings into euros or U.S. dollars, especially bonds, stocks, or a carry-trade strategy? Carry-trade strategy in this context means to borrow in CAD and invest it in the USA or the EU zone. This is a complex matter, and to understand where the CAD is, how attractive other currencies might be, we need to analyze these currencies more deeply. Below, we will walk you through the data, practical costs, and risks so you can reach a usable conclusion after reading this guide.
Quick snapshot – What the markets say right now
Recently, the Canadian dollar has hit multi-month lows due to weaker oil prices and a post-Fed (U.S. Federal Reserve) market reaction (which raised the rates, making the CAD weaker against the dollar). Canada’s central bank has cut its policy rate to 2.25%, while the Fed’s fund rate remains notably higher at about 3.75-4%. The ECB (European Central Bank) main interest rates are lower than the Fed’s and near the low-to-mid 2% range. While the Euro currency to USD rates remain mostly predictable, due to higher US bond yield rates, the EUR remains stronger, still. The U.S. 10-year Treasuries are around 4.1%, Canada’s 10-year near 3.2%, and Germany’s 10-year around 2.7%, meaning that today the USD-denominated bonds have the highest nominal yield among the three. As a result, the dollar seems much more attractive when it comes to bond yields and stocks.
Bonds – Which currency is the best for fixed income?
The short answer is: USD bonds. When it comes to nominal yield alone, US bonds beat almost all other competitors. U.S. government bond yields (10-year) are noticeably higher than Canadian and German/Eurozone bond yields right now. As a result, US bond buyers have more income potential than Canada and the EU. Euro-area core yields are lower, meaning they are paying less than the USA.
However, nominal yield does not mean it is guaranteed real return, and metrics like inflation, currency rates, and hedging costs can impact potential returns directly. If you buy USD bonds but the dollar falls against the CAD, currency losses will most likely wipe out the higher yield rate. If the Fed lowers its rates, it will make the dollar weaker against the CAD and EUR.
Another challenge is that, if you live and spend in Canada, you are using CAD, and when exchanging it for dollars, you get exposed to foreign currency rate risks, which must not be underestimated.
Stocks – Euro or dollar?
Both the EUR and USD have their advantages. USD has strong liquidity and strong long-term performance, while EUR equities offer valuation opportunities and recent relative strength.
Why USD?
The U.S. market remains the most liquid stock market with strong earnings for many tech and large companies. This makes USD stocks very attractive for long-term-oriented investors. S&P has been rising historically, and even after crashes, it often recovers its value relatively quickly.
Why EUR?
European indexes have performed well this year and in many cases cost less than their U.S. counterparts. While cheaper does not always mean better, these indexes still have some growth potential. Some major banks in the EU zone, together with industries, have recovered strongly with a recent focus on military manufacturing, making many EU stocks very attractive, together with local indexes.
However, here is a caveat: if you are using CAD daily and it loses its value against the euro, the returns from euro holdings might shrink, exposing you to greater currency risks.
Carry-trade analysis – Is it viable to borrow CAD and invest it in USD or EUR?
The basic promise of carry-trade is simple yet powerful: you borrow cheaper currency and invest it in currencies with higher yields. In our case, is it lucrative to borrow in CAD and invest in either EUR or USD? To answer this question, we need to look at numbers. BoC policy rate is 2.25%, Fed funds from 3.75%, U.S 10-yr is 4.1%, Canada 10-yr is 3.2%. If we deduct Canadian rates from the U.S. rates, we get around 1.8% positive before costs. So, in theory, it could be lucrative to invest CAD in USD assets using a carry trade. Since the ECB has around 2%, it is not profitable to use a carry-trade strategy for the euro.
The bottom line
While the CAD has been weakening lately, it is still not cheap enough to naively invest in USD or EUR. However, if you want a pure yield and can tolerate foreign exchange rate risks, USD bonds are more attractive today. When it comes to stocks, USD equities provide stable and liquid markets. If you want valuation potential and diversification, then euro equities have become more attractive this year. When it comes to carry-trade strategies, the USD remains more lucrative than the euro, but on paper, traders and investors should evaluate all the risks and costs before investing in any currency.
In the end, Canadians who have CAD for their daily costs should be careful when trying to get exposure to other markets. US bonds, US stocks, US carry-trade, and EU stocks remain attractive choices for experienced investors.
Features
Why Reading Online Reviews Matters Before Making a Purchase
People usually pause before purchasing to read reviews from other customers. It’s become part of everyday online life, a quick way to see how something really performs before making a decision. According to the Pew Research Center, most internet users read reviews to get a better idea of what they’re buying. The feedback from actual users becomes more reliable than marketing statements because it comes from everyday consumers instead of sales-oriented corporate messages.
Reading reviews also helps spot patterns. If the same comment, good or bad, appears again and again, it usually means there’s truth to it. People now use this collective feedback as their main method to evaluate online products and services for quality and reliability.
When There Are Too Many Options, Reviews Narrow the Field
Shopping online can be overwhelming and a bit of an adventure. There are always more options than anyone needs, hundreds of gadgets, countless household tools, endless entertainment subscriptions. All listings present themselves as excellent value propositions with operational excellence, yet it remains a bit of a challenge when it comes to verifying which ones deliver actual results.
Reviews become useful at this point. Real users provide information about product details, which marketing content fails to show, by sharing their experiences about delivery speed and setup ease and product durability after several months of use. The product details show its operational behavior when used in regular business activities.
Users tend to begin with reviews. For instance, a tech product might have amazing packaging but fall short on battery life or integration. Maybe a new game or casino platform might sound promising, and reviews on trusted choices can confirm whether it includes flexible payment options, a wide content library, and responsive support. When feedback keeps mentioning strong points like clear instructions or helpful customer service, it shows consistency. The product or service delivers its expected results because customers have personally seen its performance.
Reviews Build Faith Through Shared Experience
Reviews gain their strength from the emotional bonds which readers find with each other. Reading about someone else’s experience feels familiar, even if you don’t know them. It’s basic word-of-mouth marketing, like receiving recommendations from a neighbor who has already purchased the item you are considering.
This shared experience has built an informal community of online voices. People rely less on what a brand claims and more on what other users notice. When different reviewers mention similar strengths or small frustrations, it adds authenticity. The story becomes more believable.
Reviews show what other users have experienced, but they do not offer any guidance about what to do. This type of his collective info turns into an important part of how people build trust online. It’s a small thing, but it makes a big difference in how confident we feel about the choices we make.
Balanced Feedback Feels More Honest
A perfect score does not prove that something lacks any imperfections. A combination of positive and less-than-perfect feedback creates a more authentic impression. Small complaints about packaging or delivery delays make glowing reviews sound real. A recent study showed that participants answered honestly instead of trying to make their responses attractive to others.
Most readers know that nothing works flawlessly all the time. People look for reviews which provide both positive and negative aspects because they want to find balanced opinions. Customers can establish realistic purchase expectations through combined information which they can apply before buying. Review systems maintain their value because reviewers maintain honesty in their assessments.
Why Recency and Volume Matter
The best reviews and product ratings are the ones written recently. They reflect how a product or service performs right now, not how it worked a year ago. Things change, materials, delivery services, and even the way companies handle support.
A steady flow of new reviews suggests consistency. When lots of people share their experiences over time, patterns appear. Those patterns tell readers what’s typical, not just what’s possible. It’s the difference between one person’s lucky experience and a reliable average that others can count on.
Quantity matters too. Ten balanced reviews from this month will usually tell more than a single five-star comment from last summer. Together, recency and volume create a clear picture of reliability and quality without relying on assumptions.
Recognising Genuine Reviews
Not every review online is authentic, real, and written by a consumer. Some are written by automated accounts or people hired to post positive comments. Real feedback tends to sound natural and personal. It might mention something specific like the texture of a fabric, how easy the setup was, or whether support staff replied quickly.
Authentic reviews vary in tone and detail. Some are short, others long, some are full of small observations. That mix of styles feels human. On the other hand, copied or fake reviews usually repeat the same phrases or sound overly polished.
Many websites now try to identify and label suspicious posts, but readers can also help by paying attention to repetition, timing, and tone. A quick scan across different platforms usually reveals what’s genuine and what’s not.
Reading Smarter in the Online Marketplace
Reviews have become a solid foundation for how people make decisions online. They give an honest view of how something performs beyond what’s written on the label. Every comment, short or long, adds another piece to the puzzle.
More than that, reviews show how businesses handle problems, how quickly they respond, and whether they follow through on promises. They offer accountability in a world where shoppers and sellers rarely meet face to face.
Reading a handful of reviews won’t guarantee a perfect experience, but it provides helpful context. It shows what’s typical and helps people make choices with more confidence. In an online world full of noise, reviews remain one of the easiest and most reliable ways to learn from others.