Recession just around the corner?

[neilsleder]

With the price of oil down there's been a lot of talk about another recession about to go down. What's everyone's thought on it? Is it just media talking or is it going to happen? And will it be as bad as 2008ish?


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[somethingnuw]

With the price of oil down there's been a lot of talk about another recession about to go down. What's everyone's thought on it? Is it just media talking or is it going to happen? And will it be as bad as 2008ish?


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wish i had a crystal ball... but have been seeing a lot of sites on the net that say it will be worse then 2008? Then again source is unreliable and always has it linked to China and Russia selling off stocks to combat the USA financially before Russia does something stupid again... but that's way above my pay level...

 

[jjack]

With the price of oil down there's been a lot of talk about another recession about to go down. What's everyone's thought on it? Is it just media talking or is it going to happen? And will it be as bad as 2008ish?


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there was a recession 2008,guesse I missed that one.

 

[sumx54]

I've been on the completions side of the oil and gas industry for 25 years. Seen a few dips and dives now. There has normally been a calm before the chit storm in my line of work and I haven't seen any sign of it yet. We are full out still in my neck of the woods. Knock on wood. I learnt a thing or two since 2008 so hopefully Im prepared.

 

[eclipse1966]

I am in the organic grain/perishable business and import/export globally. Organic is traditionally a luxury for most families and over the 16 years doing this business I have noticed a considerable slow down when people are nervous about the status of the economy. So far there has been no signs of slow down in this industry and we continue to grow leaps and bounds with demand far exceeding supply. The driving force for the organic industry has been the US demand. So, hopefully we continue to see this growth / demand in the future.

 

[sumx54]

there was a recession 2008,guesse I missed that one.

But pot sales have always stayed consistent through it all...

 

[neilsleder]

Same here we are so busy at work it gross. Usually we slow down November December area. But not this year we are not taking more work until after the new year. But the price of gas is going pretty low so I hope that goes up because that means more work.


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[Vance Matheson]

I didn't even notice a recession in 2008 and I work in the oil gas sector . 90% of the time the rest of the time I'm busy in the garage.

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[Clode]

kinda strange how the price of oil is dropping with all the BS occuring in the middle east....are the word contoling economists dictating this drop as to cut the cash flow to extremists funded by oil....generally the threat of war increases oil prices....just a thought

 

[S.W.A.T.]

just some food for thought, wasn't the price of oil $55/bbl when the boom started in late 90's early 2000's? I could go back to 50cent diesel fuel.

 

[jpmez69]

My gut feelings are..... The U.S will be in a depression sooner than later and they won't be able to print there way out of it like last time. It won't be pretty. The current return in growth of every dollar spent in the U.S is nearing 0. Soon they will be upside down. That's when the bottom will fall out. Post WW2, in the early 50's the return in growth was just over 3 dollars at it's peak. It's been in a steep decline since the late 70's mostly due to manufaturing offshore. Blame the CEO's for that one. Mind you their margins got better. Didn't help the masses though. The markets tend to correct themselves over time. ( boom and bust cycles). Were due for another one. If the world economy losses confidence in the U.S dollar that could trigger the begining of the end for them. Canada should be able to ride the wave with less impact as long as we can trade quickly with the rest of the world. Best way not to get effected, no debt.

 

[Russell P]

I have been in the oil industry since 1990, and from what I have seen I would guess that we are on our way to a recession. Multiple projects have been put on hold, drilling programs have been scrapped for the winter and there has already been layoffs at the major engineering firms. Oil demand is falling, Oil reserves are climbing, OPEC is not cutting production and in Canada we have not viable way to export our oil out of the country to forigen markets. As Clode mentioned, normally middle east turmoil causes a jump in price. Not sure what to think there yet.


The stock prices taking huge swings reminds me of 08. Maybe it's just me.


Oh yeah, 08 wasn't much of a recession, it recovered back to a reasonable amount of work within a year. People have been fortunate, maybe even spoiled by the fact that it has been busy for this long. Anyone remember 1993 or 1998 or before my time 1979? Sorry to say, I think this going to hurt a lot of VERY OVER EXTENDED people in the industry.

Just my thoughts.

 

[jjack]

But pot sales have always stayed consistent through it all...

good one I had that coming,was just in rocky for the last week,no sign of a recession there ether,what a mad house.

 

[jjack]

just some food for thought, wasn't the price of oil $55/bbl when the boom started in late 90's early 2000's? I could go back to 50cent diesel fuel.

actually before this **** all started oil was like 18 a bbl,I remember every one saying if it hits 36 were all millionaires,and its at what now.

 

[S.W.A.T.]

actually before this **** all started oil was like 18 a bbl,I remember every one saying if it hits 36 were all millionaires,and its at what now.

Im still not a millionaire

 

[fnDan]

I hope it doesn't happen. 2008 really kicked the crap out of my retirement fund. It took a few years to recover.
I know people that had to postpone their retirement in 08/09 for a couple of years.
Gas prices can't get much cheaper. The cost to produce it won't come down very much if at all.

 

[Murminator]

From working oil field related business the oilfield is 3 years on 3 years off with the oil prices some real lows and some real highs just depends on how far it dips and high it goes oil prices coming down oil field is going to take a dip in work they are the 1st to get cut except exploration, mapping, and such they keep looking for when you need it they don't slow down big operations like Ft mac they use to keep with demands.
The only recession I noticed was in the sales of lifted black diesels ....just sayin

 

[pistoncontracting]

The so called 'recession' never really stopped. The US has been printing money like crazy.

Look at vehicle sales, a pretty good indicator of the state of an economy. The average term is 72 months, some up to 96.

Pull cash, or even your debit card out to pay for something, and people think your crazy.

No one learned anything from '08, if anything people got dumber.

 

[bhowes]

I remember 1979 & 80 mortgage rates increased to 19.5% overnight fawk ing Trudeau and the national energy program and some of you younger members want to elect the son of the son of a bitch good luck with that glad my retirement ducks are in a row

 

[moyiesledhead]

Lots of people around here aren't convinced the last one's over yet.