Let us out of the (financial) panic room

Good morning. Model Bella Hadid's spray-on dress at the Coperni show was a work of art. The scientific genius behind the dress, Dr. Manel Torres, is the creator of Fabrican, a liquid fibre bound by various polymers and solvents.

While Fabrican can be used to create a stunning dress, Torres' hope is to bring it to the medical industry to make casts and bandages from aerosol cans. How neat.

In this edition:⚡️ Mr. Worldwide🧠 Calm those nerves

— Vindhya Kolluru, Editor

ENERGY

LNG Canada, explained

The construction of Canada’s first liquefied natural gas (LNG) export terminal, in the small B.C. town of Kitimat, is about 70% complete — and it’s a big deal for our country’s economy.

• Construction began in 2018 and has been met with opposition, delays, and ballooning costs now estimated at over $40 billion. The landmark project taps into the plethora of gas in the Montney Formation and allows for Canada to export LNG worldwide, with a specific focus on Asia. Once complete, the infrastructure would put Canada on the map as a major player in the natural gas industry.

Some background: Canada has a rocky history with getting approval for its liquefied natural gas (LNG) projects, let alone completing them. Between environmental concerns, Indigenous opposition and a competitive global market, these proposals have rarely materialized.

• Since 2014, seven of 12 LNG projects proposed for Canada’s West Coast have been cancelled. Of the projects remaining, only LNG Canada is currently under construction.

Why are these projects so difficult to complete? LNG projects are complex. In simple terms, a terminal is needed for the import and export of LNG, which includes the loading, processing, storage, and transportation. As you can imagine, turning natural gas into a liquid and transporting it around the world takes a lot of specialized equipment and capital.

Why it matters: Canada is well positioned to meet demand, with LNG Canada delivery set for 2025. The LNG will be shipped to Asia, where it is expected to trade for 10 times the 2018 prices of B.C. natural gas. This will drive $23 billion in public revenue for B.C. and provide 950 new permanent jobs.

Zoom out: Investors bet on the increased global demand for gas when investing in these projects. Global gas demand is expected to rise 50% by the end of the decade, according to TC Energy CEO Francois Poirier. An increase in demand, combined with a supply shortage caused in part by Russia’s invasion of Ukraine, means nations are facing a historic energy crisis.

— Sabrina Dotsch

On our radar

• It’s official: The Canadian Leakproof underwear brand Knix has been acquired by Stockholm-based consumer goods firm Essity for US$320 million, valuing the brand at US$400 million. Toronto-based Joanna Griffiths founded Knix in 2012, since raising capital from investors like model Ashley Graham and private equity firm TZP Group.

• Numida, a startup that provides loans to micro- and small-business owners in Africa, raised $16.7 million from investors, including tennis champ Serena Williams’ Serena Ventures, in pre-Series A round. Founded in 2017 by engineers Mina Shahid, Catherine Denis and Ben Best, Numida plans to use the fresh capital to double down its presence in Uganda and launch in two new African markets.

• She has girlbossed too close to the sun: Kim Kardashian will pay over US$1 million to settle Securities and Exchange Commission charges that she failed to disclose payment she received for promoting EthereumMax, a cryptocurrency asset, on Instagram.

THE 411

How to cope with financial anxiety

The 411 dishes, well, the 411 on a personal finance topic you need to know by cutting through the jargon and empowering you to take control of your finances. Have a topic you want us to tackle? Let us know!

Feeling anxious about skyrocketing interest rates, red-hot inflation, or housing market woes? You are not alone: Even Euphoria stars like Sydney Sweeney and Zendaya are feeling financial anxiety.

Financial anxiety can be ongoing, low-grade stress over your finances, says Renée Sylvestre-Williams, journalist and founder of The Budgette. Financial anxiety can be triggered during your day-to-day routine — like when you’re grocery shopping and notice the kale you bought last week now costs a whole lot more.

Where does it stem from? “People have a lot of emotion about money,” says Sylvestre-Williams. She believes financial anxiety can stem from things outside of our control. For example, there are a lot of macroeconomic factors — or global impacts — like interest rates and inflation that we as individuals can’t control but must still deal with that can cause us immense stress.

Other common reasons for financial anxiety may be driven by fear of losing your job, making a money mistake, childhood trauma with money or a lack of personal finance education.

What can you do about it? Sylvestre-Williams says a big part of dealing with financial anxiety comes from mindset shifts, such as acknowledging that you can only control so much. As for actionable steps:

• Out of sight, out of mind: It can be tempting to monitor your investments and bank accounts every day, but avoid doing this as it will only fuel your anxiety. Instead, have set times during the week or month that you can look over your finances and spending.

• Get it out in the open: Talk to someone about your finances. Even opening up a dialogue about what you’re going through can make you feel less alone. If you don’t have a financial advisor to lean on, Sylvestre-Williams suggests talking to a friend you can trust to help you take a step back, take a deep breath, and see the bigger picture.

• Sh*t happens: Canada has seen five recessions since 1970, and each one lasted somewhere between three to nine months. So, hang in there—the market is a cycle and these cycles are temporary.

• Learn more: Sylvestre-Williams says educating yourself about the economy can offer you more clarity—and bring comfort. But be careful about falling into a rabbit hole and obsessing over your portfolio.

Big picture: Financial anxiety is not fun and no one is fully immune to it. We believe that being transparent about finances and destigmatizing the topic can help — and that’s why Btchcoin is here for you. Consider us your finance BFF, breaking the important stuff down for you so you don’t have to use the panic room.

FYI: We love this podcast by Money by Katie on how your financial fear can sometimes be a good thing.

— Jodi Anderson

Other things we read and we liked

🎵 This has to be some of the weirdest (and spookiest) ambient music we’ve come across.

🏡 The riveting story of a six-bedroom house at 657 Boulevard haunted by The Watcher. If you have any theories on who the letter-sender is, we’re all ears.

👩🏻 Research proves that unpaid labour—like household duties—hurts the mental health of women.

😱 Magical, jaw-dropping, show-stopping: Emma Chamberlain’s house tour for Architectural Digest.

💡 Are we fighting inflation all wrong? 

Overheard

“I think Halloween will be met by huge demand.” — Tandy Thomas, an associate professor at Queen’s University’s Smith School of Business, on the possibility that inflation and supply chain snarls will dampen demand for Halloween candy and costumes. Boo 👻

Psst. Tap into your creativity by using these tips to make a Halloween costume that won't break the bank.