Economy/Recession

[everest8]

Starting to see a slight uptick moving freight on CN Rail. Mostly from the west going east. Much traffic is "bonded" in Canada as it is going to the Chigago hub.Its faster to ship from Asia to Vancouver than San Fransico due to the curvature of the planet. Although there is a lots of lumber moving from the west going south to the US as our dollar has been reduced big time. As a locomotive Engineer on CN Rail I personally see this this and look at the journal. Although it will take months to get back to the traffic we did haul. sorry for all, Don

 

[TylerG]

Sharing this again because she still needs to go......

https://youtu.be/EdOmdQXkFRo

 

[fargineyesore]

pretty sad after years of prosperity a person did not put money away for a rainy day. Was talking to a guy a month or so ago and he was complaining about his son who had worked in the patch for 13 year (he is 34), made $13,500 per month and was laid off last July. By the beginning of October he was asking for money from his father as he could not cover his $10 grand a month payments. Yikes!!!!!

Yes it is sad, but how come only Alberta oilpatch workers are accused of this? What about the auto workers in Ontario that were in danger of losing their jobs because of GM and Chrysler's financial problems? Both GM and Chrysler said their labor costs were uncompetitive (ie paying their workers too much) so they were going to go bankrupt. So, why did the federal government have to fork over tons of cash to keep these auto workers employed? Why didn't they save for a rainy day like oil patch workers are supposed to do? Why isn't anyone asking for federal support for out of work oil patch workers? Why are southern Ontario auto worker jobs so much more important than oil patch worker jobs? The double standard is one of the reasons people in Alberta get so pissed off at derogatory comments about oil patch workers. Almost as if they are the only ones that don't save all their money for rainy days.

 

[Bigblack]

Yes it is sad, but how come only Alberta oilpatch workers are accused of this? What about the auto workers in Ontario that were in danger of losing their jobs because of GM and Chrysler's financial problems? Both GM and Chrysler said their labor costs were uncompetitive (ie paying their workers too much) so they were going to go bankrupt. So, why did the federal government have to fork over tons of cash to keep these auto workers employed? Why didn't they save for a rainy day like oil patch workers are supposed to do? Why isn't anyone asking for federal support for out of work oil patch workers? Why are southern Ontario auto worker jobs so much more important than oil patch worker jobs? The double standard is one of the reasons people in Alberta get so pissed off at derogatory comments about oil patch workers. Almost as if they are the only ones that don't save all their money for rainy days.

Exactly. Why didn't the BC loggers save for a rainy day? Basically everybody is the same...the more you make, the more you spend. Obviously there are the 5% that save for a rainy day, and there are the 5% that will put themselves super-far into debt because "they can afford the payments" (Eclipse1966's friend's son), but most people are in the middle somewhere.

Loggers get tax break, bailout fund - Arrow Lakes News

Premier wants forestry bailout | CTV Vancouver News

 

[eclipse1966]

very good points and I agree. But to be honest, as a business owner with staff I am not in favour of bailing anyone out. If my company fails, will any government come and bail me out…… highly doubtful. So, we come back to saving for a rainy day whether you are a company or individual. Why on earth does the tax payer need to keep helping bombardier. They went over 2 billion over budget on their recent planes……. is that my fault? I have zero sympathy for these guys.

Yes it is sad, but how come only Alberta oilpatch workers are accused of this? What about the auto workers in Ontario that were in danger of losing their jobs because of GM and Chrysler's financial problems? Both GM and Chrysler said their labor costs were uncompetitive (ie paying their workers too much) so they were going to go bankrupt. So, why did the federal government have to fork over tons of cash to keep these auto workers employed? Why didn't they save for a rainy day like oil patch workers are supposed to do? Why isn't anyone asking for federal support for out of work oil patch workers? Why are southern Ontario auto worker jobs so much more important than oil patch worker jobs? The double standard is one of the reasons people in Alberta get so pissed off at derogatory comments about oil patch workers. Almost as if they are the only ones that don't save all their money for rainy days.

 

[cancritter]

very good points and I agree. But to be honest, as a business owner with staff I am not in favour of bailing anyone out. If my company fails, will any government come and bail me out…… highly doubtful. So, we come back to saving for a rainy day whether you are a company or individual. Why on earth does the tax payer need to keep helping bombardier. They went over 2 billion over budget on their recent planes……. is that my fault? I have zero sympathy for these guys.

goverments golden child....thought same for years...let them crash and burn on their own dollar

 

[DRD]

How long should a rainy day fund last? Price really started to fall in July 0f 2014

 

[eclipse1966]

I would hope more than 2 months. But if you have payments of 10 grand a month that is reckless IMO. Even if your job is secured, what happens if you have health problems or someone in the family. I am not aware of too many insurance companies that will cover that kind of value per month. FYI, I forgot to mention that the father told his son to start unloading the toys then he would give him money. Apparently son was not happy and told him he would take a huge hit if he had to.

How long should a rainy day fund last? Price really started to fall in July 0f 2014

 

[DRD]

I think two months would be a walk in the park for most, start talking a year it's a different story.

 

[eclipse1966]

definitely. Thats when my theory of paying cash for toys comes into play. Cant imagine paying a monthly payment for a boat in December. I realize most people have to but maybe a good practice is to pay it off before you move onto the next toy.

I think two months would be a walk in the park for most, start talking a year it's a different story.

 

[smokinD]

Alberta Freedom Party seeks to liberate province from Canada's shackles | National Observer

All In Favor Say I!!

 

[DRD]

https://www.boombox.com/c/quiz/103221/90e0ba41-2c4a-4cc2-b7b6-ff5363593693

I only got 55

 

[handyandy]

https://www.boombox.com/c/quiz/103221/90e0ba41-2c4a-4cc2-b7b6-ff5363593693

I only got 55

I got 65. That was surprisingly hard lol

 

[Rbrduk]

I got 95.
But in all honesty, the more absurd the quote, I picked jt

 

[rebel]

70% all I can say is wow some dumb chit has come out of his mouth

 

[eclipse1966]

i got 75% but there was some guessing

 

[doorfx]

70% wow dumb is right

 

[rzrgade]

So JT has unofficially put and end to pipelines out of Alberta . Taking a few pages out of obama 's book . Just study and bog it down with red tape until the costs to get approval outweigh the ability to build the project ...!
PlUS add in the fact global warming comes into the equation of wether to build a pipeline (???????) or not....
Meanwhile Quebec imports oil from the Middle East shipped in super tankers.....taking away thousands of jobs from Canadians !!
But JT says that's not his job , he just wants us to all get along... Things are great !! More selfies .... Although people may of not liked the " hair" adds , I can clearly see that the conservatives were trying to point out, how arrogant and out of touch this this little prick truly is ....!!

Rona Ambrose would look really good running the show right now....I like her messages , simple & clear and on
point! Any one in the energy buisness or affected by it , the next few years are about to be pure hell ....,

 

[Bigblack]

Knothead is releasing the revamped royalty review today....should see a bunch more offices in Calgary close by tomorrow.....

 

[rzrgade]

What a weak azz response to the Montreal mayor ... She is pathetic , what happened to " bring it on attitude" with o leary...??
She has a pact with Wynn and JT , it is becoming pretty clear now .....I have no idea why, but the three are on the same anti oil / tree hugger agenda....