What Aren’t They Telling Us?
October 11th, 2008 Posted in Economy
The loonie is on it’s way to 75 cents, oil to $50, home prices are falling… and the TSX has lost 40%.
The good news is that thankfully Canada has the world’s soundest banking system.
So why am I suddenly feeling the worst is yet to come?
With the election being days away, I am becoming certain that Canadians will vote in another minority government even though it will hurt the country.
As the crisis deepens and the economy slows, Harper’s hands will once again be tied by two bumbling idiots.
So do you buy, sell, hold, or panic?
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October 11th, 2008 at 10:34 am
Half of Americans think Elvis is still alive - don’t know what percentage of Canadians think he is still alive, or believe in flying saucers.
Let’s hope enough of them went through the oldler school system and have some sense.
October 11th, 2008 at 10:38 am
That should read older of course - typo.
October 11th, 2008 at 12:38 pm
The media engineered the final outcome. They ran up the LPC then panicked when they realized we could get a liberal minority with Dion running the show and possibly the NDP. Now that the MSM destroyed conservative chances at a majority they are desperate to see Harper back at the helm. What a bunch of predictable weasels the whole lot of them are. Why cannot other conservatives see what is really going on?
October 11th, 2008 at 4:08 pm
I was expecting Iggy or Boob Rae to sink Dion at the last minute in an October surprise.
October 11th, 2008 at 6:59 pm
Just be thankful we didn’t already have a Dion/May government with a hefty carbon tax imposed , on top of this crisis.
The loonie is on it’s way to 75 cents,
which does help our manufacturing exporters that sell in Canadian dollars. We export more than we import.
oil to $50,
which will also help the bottom line of businesses of all kinds, and Canadians in general. But it has sure put the boots to us here in BC/Alberta/Sask. The equalization payments going to the have nots Easterners may be a little stingy with the Wests economy being hit hard.
home prices are falling
to levels first time buyers and young families may be able to afford. Builders have made a fortune may times over in these last boom years. Suppliers have not been able to keep up with product and workers. So maybe things will be less frantic. Maybe people will have to work to keep their jobs, because there aren’t 2 more like it down the street.
Won’t be needing all those trades people we have been bringing in from other countries, Canada should be able to fill the worker shortages with Canadians (if they are mobile).
… and the TSX has lost 40%.
ouch! You do realize that it is the Oil and Gas industry that has taken the blunt of this huge TSX hit.
Here we have ‘Armageddon’ in the oil patch’
http://www.globeinvestor.com/servlet/story/GAM.20081009.RBANKSALBERTA09/GIStory/
Makes yah wonder why the lefties want to shut o&g down, they got their wish, look what it gets yah.