| joshturbo |
| what do people think is going to happen with the stockmarket losing so many points, i'm more concerned for canada, but we all we follow the USA alittle... our dollar is slowly dropping, oil is dropping slow ......whats going on ????? |
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| oldraven |
Who here remembers the 90's?
If things don't turn around fast, this spells doom for the company my Wife and I own. If no one has any money or job, then no one is building a home. |
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| joshturbo |
quote:
Originally posted by oldraven
Who here remembers the 90's?
If things don't turn around fast, this spells doom for the company my Wife and I own. If no one has any money or job, then no one is building a home.
is this the end of the so call boom , i dont think oil demand is going to change.. so i dont know how that will affect a city like edmonton ,if it does |
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| TrevorK |
quote:
Originally posted by joshturbo
is this the end of the so call boom , i dont think oil demand is going to change.. so i dont know how that will affect a city like edmonton ,if it does
The Alberta economy is drastically different than that of Ontario because we're more focussed on resources and they are on manufacturing.
One reason that our economy behaves differently is because the government will take measures to attempt to stabilize the manufacturing sector (lowering interest rates) which can have the "side effect" of us Albertans borrowing more (and buying more, which stimulates our economy). Because of the tremendous wealth in the province it will take longer, IMO, for our economy to slow.
IMO, I don't think the demand for oil is going down anytime soon with all the developing countries seeking it more and more. At it's current price it's still more than profitable to extract and ship around the world (if need be), so I'm sure we'll see it continue to be pulled out of the ground. The question will be how much new development/exploration will be done.
What most people don't realize is that the manufacturing sector has been hit very hard by the recent upswing in our dollar. |
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| oldraven |
quote:
Originally posted by joshturbo
is this the end of the so call boom , i dont think oil demand is going to change.. so i dont know how that will affect a city like edmonton ,if it does
Demand stays the same, but prices have already dropped. All resources have been dropping sharply, which is Canada's biggest asset in trade. So you'll be working just as much, but making less or maybe getting laid off to keep the big talking heads in the profits. |
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| THUD |
Major market corection as I like to think of it or in this case the great depression of crazy 08's, the whole world market is crashing not just the US, greed and stupidity is what lead it here.
To many obvious thing's to state on what made it like this but till 2010 were in a slump and only then will we start seeing the level of earings which we have now and with house prices thru the roof this one is gona be bad.
I remeber the early 80's and I rember learning what recession mean's, I saw my freinds mom and dad siting on the couch and they were crying and trying to hand money to my mom for looking after there kid's and I asked why there crying.
Buddys dad simple said recessions make grownup's cry, the next saturday I watched them move away and I learned what it felt to lose freinds for the first time, I really hope I don't see that or feel that aging during this one. :beer: |
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| oldraven |
| TSX up 400 points........ I guess those interest rate adjustments did the trick......... for now. The same in the NYSE. Stocks up again, on the news of rate decreases and a proposed $153B tax relief to get people buying again. Way to put a bandaid on a missing limb. The US gov't. essentially just bought lots of new stuff for their citizens to keep the market going. Just wait and see what happens after the election is over. |
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| Beerking |
| I was in the bank saturday to buy into the usa index for mutual funds and for some reason the computers froze and my info could not get prossesed. My financial advisor said she would call me monday and would fax me the work to sign, then I saw the market go down and thought, damn good thing i didn't buy in yet. Im gonna wait a week or so and see if it goes lower before I by in, its all about timing!! |
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| oldraven |
I would avoid that move, if I were you. It's only a matter of time before the benefits of that tax cut catches up with the economy, and they can't lower interest rates by much more than they already have.
But I'm just a drafter. :p |
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| h22civic |
| It just means your RRSP's took a major value shit kicking and then rebounded a litlle today.:drama: |
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| tiger8866 |
quote:
Originally posted by joshturbo
what do people think is going to happen with the stockmarket losing so many points, i'm more concerned for canada, but we all we follow the USA alittle... our dollar is slowly dropping, oil is dropping slow ......whats going on ?????
It means you can buy your new car for a lot cheaper when the US goes into recession and drag Canada, China and rest of the world along with it. |
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