Global Economic Cracks Widening . . . .

[tweety]

So.... auction sale time before the wheels fall off? But then if they don't.....

[foragefarmer]

Zep

I will give Errol credit, he does put a lot of effort into his posts, good on him. The only down fall is he has been painting the doom and gloom for several years now. If you would have followed his advise when he started making his predication and exited the Stock Market, you would have missed out on the biggest bull run in history.

So trying to time any market upturn or downturn is very dangerous as a investor, you will be eaten by the sharks. You have to look at any investing as a long term endeavour, it takes years to see results not a few months.

I follow the advise of the greatest investor of all time Warren Buffet, buy good blue chip stocks that have been around for decades that pay good dividends. Buy them and forget about them, Cd banks railways, insurance companies etc.

I also believe in real estate as well, but it is a bit scary right now. I do not own any bonds because there's no return on them currently, besides dividends are taxed differently.

Again Errol does take time to post the information, I'm just telling you what I have done. It's up to you to do your own HOMEWORK!

[errolanderson]

Thanks, Errol!


So you're saying for those of us that have realized this is coming... staying in a long-cash, no/low debt situation is best?

We've been talking about that in our family. We farm, but it's by no means a big part of our 'pie'... Want to leave a legacy for our three kids, and that would require some expansion of our business ventures... However at this point in time we've been staying with a "gut" feeling of remaining in a holding pattern for a few more years.


How would you protect cash, though? Having it in the bank is a money loosing proposition considering we don't get interest enough to cover inflationary action.

The stock market, IMHO is way over bought.

Bonds are risky?

It's all about risk appetite, your age and how well you sleep at night . . . . I'm not remotely concerned about missing out on gains on the stock market . . . that can be erased in-a-blink.

When you are young, you can weather through a sudden net worth decline. If you are close to retirement, it's a different story . . . you can't take that risk. When the equity market starts to correct, it is already too late. Recent gains in the stock market and a decade of building-a-business could be washed out in one day. So everyone's financial position has a different feel.

[errolanderson]

What a mess . . . hundreds of Husky Energy employees being laid off this morning (mostly in Calgary). Taxis lined up at the door right now with employees holding their vanilla envelopes.

Cdn retail sales released this morning were negative . . . .

Canada's government spending and debt is now blowing to the moon.

This is more serious than just a recession folks . . . .

[tweety]

What a mess . . . hundreds of Husky Energy employees being laid off this morning (mostly in Calgary). Taxis lined up at the door right now with employees holding their vanilla envelopes.

Cdn retail sales released this morning were negative . . . .

Canada's government spending and debt is now blowing to the moon.

This is more serious than just a recession folks . . . .

Because of Liberal/BQ government majority or coincidence the day after the election?

[blueversi]

Because of Liberal/BQ government majority or coincidence the day after the election?

Not likely a coincidence. Probably was in the plans depending on what happened on Election Day. More red tape, more climate b.s. , etc. not heading in right direction for the energy industry.

[Guest]

Or ag , or forestry, or red meat production, or anything that generates wealth for the west for that matter.............

[beaverdam]

Daughter in Calgary says those lay-offs at Huskey were in the works for some time already.

I'm not sure whether there needs to be anymore legislation passed to get TransMtn going or not, but I would hope PM Blackface would have lots of CPC votes to get it passed if needed, with the provision some whacky, leftist, virtue item isn't tacked on with the pipeline bill!

BTW,,, it's manila envelope, not vanilla envelope.

[beaverdam]

VIX looses 60% of it's value in the month of Oct. hmmmm

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[sumdumguy]

The Bank of Canada may have to keep interest rates up just to bouy the dollar. I don’t think BOC would entertain a 50cent CDN dollar. Who knows?