4 charts that show ‘Canada is in serious trouble’: Deutsche Bank | Globalnews.ca

Looks like a perfect storm.

If the price of oil goes down, and people start being laid off...


Oh wait.

Pay down whatever debts you have.

Number of fucks given for the opinion of a bunuch of Boxheads: Zero.

Brother in law is a driller. Already knows half of the drilling rigs currently active are being shut down this year...

Aaaaannnnnd the shop I'm at in BC has been building structures for drilling rigs for the last few years. Orders that had already been placed for the coming year have recently evaporated...

But ze boxheads hav all ze marks in Europa now..





Been reading, you are not alone. Seems lots slowing down already.

I see evidence of massive indebtedness all around me. This is a serious concern and it's no joke.

One of our posters has a husband working in the Bakken and he's been furloughed.

Slamming an embargo on all Arab state oil should have been the first thing that was done but, of course, none of our political and economic leaders are going to do anything to upset their real masters. Always amazing at how the financial security of one's own citizens is the first thing to get tossed out the window when things go bad.

BTW, I'll be putting my house up for sale fairly soon. If anyone want's to know why I've been increasingly grouchy and depressed around here lately, well, there's your answer. About the only thing I have left to be thankful for is that the equity from the sale will be enough to ensconce myself in a condo again which, to me, is like returning to hell. Looks like the last six and a half years in my own house will be the high point of my life and the rest is just going to get increasingly worse. I'm sure that things like this happening to people like me will really cheer up all our resident hate-filled leftists, which just shows what kind of people they really are that they'd be glad for things like this to happen just because someone disagrees with them on certain things.

Sell. Rent. Wait. Remember the 80's.

Everyone said Canada was in trouble when the 2008/2009 global recession started. And guess what? We barely had any troubles compared to the rest of the G20. Our economy was built well and will survive. It's up to Canadians to keep out of debt and run their own finances properly to avoid individual hardships. Canada as a whole is doing fine

-J.

Sell. Rent. Wait. Remember the 80's.

Oddly enough, I just got this same advice about an hour ago from a financial planner I'm dealing with. No point in being property-rich & cash-poor.

The oil price was also in the upswing right after the 2008 collapse which made the job market in the West better. As of right now the layoffs have begun (Shell at Albian Sands) and a massive number of workers in the Bakken have just been furloughed. The unemployment numbers are just beginning to rise.

Like I said, the patriotic thing to do would be to embargo oil from the Persian Gulf states in order to keep North Americans working, but our masters in the financial sector and their well-bought politicians will make sure that anything patriotic will be the last thing that ever occurs.

Which users here do you believe would honestly feel that way?

Not necessarily you, but I can think of one uber-dick on my blocked list who's basically been crowing since he came to CKA about how much he's looking forward to Alberta getting it's come-uppance. Hit the CBC comments too if you want more proof about how many of those 'for the people!' leftists are just a bunch of hate-filled anti-Alberta/anti-West nutcases who want to see us collapse completely. Low oil prices that damage the economy are something they like because to them it's time for some revenge against folks like me for all of our 'crimes' against Canada (i.e., voting Conservative, being earth-rapers, being too like Americans (allegedly) having an economy that's basically a gas station that provides the revenue for the rest of the country, etc, etc, etc).
Just like with the NEP in the 1980's there's always going to be a certain segment of the Canadian left that will massively enjoy it when Albertans get hammered.