After the Pandemic

[LEP]

Seeing as everyone has some extra time on their hands (my apologies to those calving). What are the opinions regarding what things will look like after we are quarantine free. Here are my random thoughts.

I think people will struggle to get control of their finances because a lot of them won't have jobs. Catching up on rent, credit card payments, mortgage and consumer credit will mean low discretionary spending for months if not years.

Those nearing retirement will have to work a few extra years. Those recently retired will wish they had.

Many small businesses, if they survive will be in survival mode for months or years. They will want to increase prices but likely will have to drop them in order to encourage customer spending. Some businesses may fair ok. They provide a needed service but their business will narrow to more needed products. Ie. power steering pump vs lift kits, etc.

Both business and personal bankruptcies will reach unheard of levels. The real estate bubble will pop.

But I think for all involved, when things do regain a semblance of normal, people work toward a greater slush fund. Some will create one however small, when they didn't have one before, and the ones that did have one will likely build a bigger one.

I think tourist destinations will definitely feel the pinch. Airlines will sell fewer flights, cruise ships may as well mothball half their fleet.

Then we come to governments. There will be taxes created that we have never seen or heard of before. Effectively the amount of cash being thrown around means that we can never expect to get our debt levels in line in my lifetime.

Sorry for the ramblings. Anybody have a cheerier outlook?

[blackpowder]

An Alberta bumper sticker once said,
"Lord, let there be another boom,I promise not to screw this one up"
And we did anyway.

[Ab7]

An Alberta bumper sticker once said,
"Lord, let there be another boom,I promise not to screw this one up"
And we did anyway.

I feel bad for people falling on hard times,
But man have we witnessed a lot of money being pissed awAy during the oil boom.

[blackpowder]

In no way did I intend to be critical of anyone today.
My intention was that as humans, we will definitely repeat history.
Our short memories will spend it if we have it and vote in the govts that promise the most free stuff.
The exceptions are the generations that survive a great setback like the Great Depression. That shaped my parents and grandparents for life.
Is this 1929???? I don't think so?

[GDR]

LEP, my vision is similar to yours unfortunately.

I think the biggest mistake that is being made is the government is trying to make the "citizens" whole too soon. All the deferrals on utilities, rent, taxes etc, then add in the $2000/month, or the 75% wage reimbursement or EI whatever people qualify for. Problem is people need to pinch their pennies and adjust their spending. While staying at home in quarantine the costs of living are substantially less, yet people will find a way to spend every dollar available to them and take every opportunity to defer, just compounding the problem for a later date. So all of a sudden the lockdown ends, government assistance is cancelled and people go back to work. They dont get a paycheck until the end of their pay period, at which time now they have all their deferred payments to make plus their regular payments and their increased costs of going to work. Gonna create huge personal bankruptcy issues.

Gonna be huge tax dollars to be paid back, actually wish they would do that as a surcharge over the next couple years, with a standard rate for everyone, but a double rate for those that took asistance. Otherwise just adding to the national debt is just gonna destroy any prosperity for a generation. Perhaps even a ultra low rate loan instead of handouts to citizens may have been better for everyone.

Hopefully we beat this thing soon, otherwise there will come a day that we have to say we just cant do it anymore and get back to work.

[15444]

Brother had his house sold in Kelowna a couple days before shit hit the fan. Buyer backed out. Now this last week, all his neighbors have sale signs on their lawns. All paycheck to paycheck. All laid off. All fuucked.

"Welcome to the Hunger Games...may the odds be ever in your favor"

[tubs]

depends a lot on how long they keep us in lock down to me it looks a lot like 1929 stocks are going down further yet. companies have all lost money for a month already and it might become 6 months. governments think they can spent out of this mesh but I think not. I think a lot of pain is coming yet. I hope I am wrong government are really good at kicking the can down the road which means a lot more pain later.

[LEP]

lep, my vision is similar to yours unfortunately.

I think the biggest mistake that is being made is the government is trying to make the "citizens" whole too soon. All the deferrals on utilities, rent, taxes etc, then add in the $2000/month, or the 75% wage reimbursement or ei whatever people qualify for. Problem is people need to pinch their pennies and adjust their spending. While staying at home in quarantine the costs of living are substantially less, yet people will find a way to spend every dollar available to them and take every opportunity to defer, just compounding the problem for a later date. So all of a sudden the lockdown ends, government assistance is cancelled and people go back to work. They dont get a paycheck until the end of their pay period, at which time now they have all their deferred payments to make plus their regular payments and their increased costs of going to work. Gonna create huge personal bankruptcy issues.

Gonna be huge tax dollars to be paid back, actually wish they would do that as a surcharge over the next couple years, with a standard rate for everyone, but a double rate for those that took asistance. Otherwise just adding to the national debt is just gonna destroy any prosperity for a generation. Perhaps even a ultra low rate loan instead of handouts to citizens may have been better for everyone.

Hopefully we beat this thing soon, otherwise there will come a day that we have to say we just cant do it anymore and get back to work.

Bingo

[cuban_assassin]

After our country opens back up there will be 1000’s of businesses that will not survive more than a year if that. Therefore a lot of people will not have a job and once the unemployment runs out then we will see the real effect of all this. Thanks to the current government’s environmental policies we will have no resource or energy sector jobs. Not to mention the lost revenue from oil and gas. Canada is in serious trouble and I would not be surprised to see things get so bad, for a very large portion of society, that we see civil unrest. I believe Canada is entering a very dark time in its history. This is shaping up to be the perfect storm. We have weak leadership that has made some very bad policy decisions which has crippled our country’s ability to weather any kind of storm.

[6V53]

Black market and bartering will flourish to avoid taxes. Oh wait we'll all be like Quebec!!!

[SASKFARMER]

China is waiting and skippy will hand us over for peanuts and get free and safe passage out of canada.

[jazz]

Canada may crack involuntarily. Without our oil rvenue there is no way Canada can climb back out of this. And if Trudeau tries to hit it harder that wont help.

Everyone is sayin Ab cant seperate now because oil is too low. Well I know a way to increase our oil price by 40% and save 13B a year at the same time and all it takes is the stroke of a pen. But I suspect with the fear around now, seperation is a step too far for most albertans. I guess that movement died for good. We go down with the ship.

I suspect we will have the IMF looking in here in a few years time.

[6V53]

Canada may crack involuntarily. Without our oil rvenue there is no way Canada can climb back out of this. And if Trudeau tries to hit it harder that wont help.

Everyone is sayin Ab cant seperate now because oil is too low. Well I know a way to increase our oil price by 40% and save 13B a year at the same time and all it takes is the stroke of a pen. But I suspect with the fear around now, seperation is a step too far for most albertans. I guess that movement died for good. We go down with the ship.

I suspect we will have the IMF looking in here in a few years time.

Better check out what happened to Argentina with the IMF.

[LEP]

After our country opens back up there will be 1000’s of businesses that will not survive more than a year if that. Therefore a lot of people will not have a job and once the unemployment runs out then we will see the real effect of all this. Thanks to the current government’s environmental policies we will have no resource or energy sector jobs. Not to mention the lost revenue from oil and gas. Canada is in serious trouble and I would not be surprised to see things get so bad, for a very large portion of society, that we see civil unrest. I believe Canada is entering a very dark time in its history. This is shaping up to be the perfect storm. We have weak leadership that has made some very bad policy decisions which has crippled our country’s ability to weather any kind of storm.

Weak Leadership causes alot of problems

[RTK]

Put someone in Ottawa that has a vision and wants to lead this country. What we have there now is an utter embarrassment and a waste of skin. Push forward with a carbon tax on April 1st to save us from pollution and create real meaningful green economy.... really that’s the plan... without even thinking I see opportunities;

Reduce regulation and make things happen, build the pipelines, improve rail/ports become a stable reliable exporter... manufacturer strategic and necessary medical equipment/drugs. Invest in our military so we can actually offer some support to the USA. Quit wasting tax dollars around the globe and at home... invest in tangible projects that have an economic purpose and projected payback. Work with our neighbours - USA and Mexico between the three countries what do we not have that is required?

60 seconds in a rant and that’s a better plan than blackface and his band of idiots can come up with in 5 years...