Wage rollbacks - time to consider?

[macdon02]

With all due respect, good sir, I have had my dose, as have many others in my business.

We unloaded a pot load of select western Black Angus heifers for breeding on May 20, 2003. I paid the full price I signed for even though they essentially lost their value on the long ride from Vermilion.

It was a very strong dose, the taste of which stayed in my mouth for the next 10 years.

And in those 10 years, instead of building a nice bit of padding, we eroded many years worth of growth on our farm.

I think that could be called a nasty dose of medicine that had a life-long side effect for the cattle industry. Particularly hard on the cow-calf guys since our situation didn't fall into the right bracket to trigger BSE compensation.

We're not talking about wage rollback here. We're talking about equity blasting.

That's an extremely fair assessment of what is to come Burnt. Best estimates im seeing, 12 years to recover from this shutdown, maybe. Your personal situation with BSE is what the majority can expect.

[farmaholic]

That's an extremely fair assessment of what is to come Burnt. Best estimates im seeing, 12 years to recover from this shutdown, maybe. Your personal situation with BSE is what the majority can expect.

Most people can't afford that!
What happens when the people who can still afford to pay their debts are in negative equity positions on their house and autos if and when asset values start to crash?
Selling toys and staying home from the two times a year hot holiday's only goes so far.
Eat KD?

Everybody just walks away from everything?

Too bad a virus pandemic will push world economies into deep recession that few people are prepared to weather...... because money was so f-n cheap to borrow that so many people are maxed out.

But no one was expecting to be jobless before this happened.... maybe they should have thought of the possibilities?

[jimmy]

I want the bureaucrat that figured we should have jerry cans with no vent fired and his pension taken away.

[farming101]

I want the bureaucrat that figured we should have jerry cans with no vent fired and his pension taken away.

Here Here!

[Ab7]

I want the bureaucrat that figured we should have jerry cans with no vent fired and his pension taken away.

Lol
I’ve drilled a hole where the vent used to be

[grefer]

Everyday when coward of the cottage ums and ahs from our front porch, he states “We’re all in this together “. I can’t stand to listen anymore but that’s what is printed about his mumble..and the millions or billions of new spending

Ok, so some small business has lost 100% of their income. Some 80%. Most have lost significant amounts and some perhaps many will not survive.
All the while public employees collect full pay. Sure, for essential work, it’s likely similar to always busy. For some, it is a paid home staycation.

What about an across the board cut to all civil servants, university profs and staff, city workers, RM staff, everyone with a pay check from a government. Like 20%. Even if it’s temporary til there is recovery from this economic disaster.

Taxes are going up. Way up. No question, someone has to pay. Should the small and medium size businesses that manage to sc**** by get hammered while public paid people go almost unscathed?

It’s something that should be considered. Better than layoffs for some and full salary for others.
University of Arizona just did something like this.

After all, we are all in this together

Unfortunately you cant make some blanket statement like that Quad and actually make it work without much collateral damage. There are many front line workers that put the health of themselves and their families on the line five days a week and who have the Government as an employer. As Justin is finding out,things seem simple but such is not the case.

[macdon02]

Most people can't afford that!
What happens when the people who can still afford to pay their debts are in negative equity positions on their house and autos if and when asset values start to crash?
Selling toys and staying home from the two times a year hot holiday's only goes so far.
Eat KD?

Everybody just walks away from everything?

Too bad a virus pandemic will push world economies into deep recession that few people are prepared to weather...... because money was so f-n cheap to borrow that so many people are maxed out.

But no one was expecting to be jobless before this happened.... maybe they should have thought of the possibilities?

Well for starters the availability of credit will be a fraction of what it previously was. As Errol has mentioned "Cash is king" i suspect land will sell for taxes again. We could possibly be looking at land taxes that rival a current 25 yr mortgage payment. Tax the rich like Jagmeet says. Niemann Marcus is going down, Canada pension plan owns half of that. If anyone finds an island for sale I'll go halfers. Maybe we can all sell out to the Chinese. Where's all the ****y bastards now that were saying if you don't like it, leave.

[Ab7]

Everyday when coward of the cottage ums and ahs from our front porch, he states “We’re all in this together “. I can’t stand to listen anymore but that’s what is printed about his mumble..and the millions or billions of new spending

Ok, so some small business has lost 100% of their income. Some 80%. Most have lost significant amounts and some perhaps many will not survive.
All the while public employees collect full pay. Sure, for essential work, it’s likely similar to always busy. For some, it is a paid home staycation.

What about an across the board cut to all civil servants, university profs and staff, city workers, RM staff, everyone with a pay check from a government. Like 20%. Even if it’s temporary til there is recovery from this economic disaster.

Taxes are going up. Way up. No question, someone has to pay. Should the small and medium size businesses that manage to sc**** by get hammered while public paid people go almost unscathed?

It’s something that should be considered. Better than layoffs for some and full salary for others.
University of Arizona just did something like this.

After all, we are all in this together

I don’t know if I’m a big fan of wAge cuts.
All of our sivil servants who bought a house,
Had to pay the price that the oil patch worker
Bid the house price up to. Now the oil patch worker is getting there pay cut. I don’t think the civil servant should take much of a a cut, they were never getting the big wages anyways.
Just my opinion

[AlbertaFarmer5]

I don’t know if I’m a big fan of wAge cuts.
All of our sivil servants who bought a house,
Had to pay the price that the oil patch worker
Bid the house price up to. Now the oil patch worker is getting there pay cut. I don’t think the civil servant should take much of a a cut, they were never getting the big wages anyways.
Just my opinion

It is not always just about the salary. The benefits in the long run often far outweigh the immediate salary. When you figure it out over a lifetime, I would take a teachers salary over a drillers paycheque anyday.

[AlbertaFarmer5]

A few weeks ago UFA sent out an email that they were remaining open, and that all staff were being given a permanent raise.

I can perhaps understand a raise if they are risking their health to remain at work with the public while everyone else gets to sit at home and play video games. ( although the Doctors and Nurses and other front line workers certainly didn't get a raise).

But to make it permanent in the face of mass unemployment, and likely deflation, just did not sit well with me.