Recession just around the corner?

[ZRrrr]

Comer versus Bank of Canada

Good day for the Citizens of Canada!! Too bad there seems to be a gag order coming from the top down on this. I'm sure the banks are a little worried where this may go. Could have huge ramifications to the central banking system, government debt and the economy here in Canada....good for the citizens of course, a little more back in the pockets of average Joe and a little less into those at the top.

Been watching this for along time. All hell broke loose in Canada when the system was changed (illegally I might add). Look into the history, it was a private banker that convinced the Canadian Gov to borrow from private banks. Canada had very, very little debt up until that time.

Will be veeeery interesting to see hwo this plays out.

https://www.youtube.com/watch?v=40Jz0LPQAQY

 

[pistoncontracting]

Well said. Initial decline on new production is more like 20% for the first 2 -3 yrs, then it levels off to around 5%. Hopefully the capital investment is recovered in the first few years.

I think what many people fail to realize though, is all the old wells that have LONG paid for them selves. And there are thousands of those. It's basically free money.

The world has has had stagnant growth since 2009. The only REAL industry actually grew was the petroleum industry. There is no logical reason for oil to hit the previous highs, because we have provin we recover more then we can use.

The United States has the lowest labor participation rate since the '70s. Families on food stamps have DOUBLED since 2008. In Europe, the numbers look very similar... perhaps worse.

The price of oil is one thing, but there is much more this storm.

 

[pistoncontracting]

Comer versus Bank of Canada

Good day for the Citizens of Canada!! Too bad there seems to be a gag order coming from the top down on this. I'm sure the banks are a little worried where this may go. Could have huge ramifications to the central banking system, government debt and the economy here in Canada....good for the citizens of course, a little more back in the pockets of average Joe and a little less into those at the top.

Been watching this for along time. All hell broke loose in Canada when the system was changed (illegally I might add). Look into the history, it was a private banker that convinced the Canadian Gov to borrow from private banks. Canada had very, very little debt up until that time.

Will be veeeery interesting to see hwo this plays out.

https://www.youtube.com/watch?v=40Jz0LPQAQY

Some reading for those who might like it-

Who Changed The Bank Of Canada?s Policies In 1974 And Why? | Canadian Awareness Network

Boy that trudeau was a fantastic fellow. All our problems will be solved once his little spermy is behind the wheel.

 

[moto.racerx]

Price changes supply eventually

 

[sumx54]

Oil settled today at $57.80 (+19%)... The largest two week gain since 1998... Yes sir.

 

[neilsleder]

Oil settled today at $57.80 (+19%)... The largest two week gain since 1998... Yes sir.

What! That's good news.


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[pistoncontracting]

What Is Contango? Cheap Oil Makes for Expensive Tankers - Businessweek

Interesting.

I'd like to see the front of that chart that Chevron has.

 

[moto.racerx]

Oil settled today at $57.80 (+19%)... The largest two week gain since 1998... Yes sir.

WTI 51.69 (+2%)
Brent 57.80 (+2%)

 

[800HMX]

I think what many people fail to realize though, is all the old wells that have LONG paid for them selves. And there are thousands of those. It's basically free money.

The world has has had stagnant growth since 2009. The only REAL industry actually grew was the petroleum industry. There is no logical reason for oil to hit the previous highs, because we have provin we recover more then we can use.

The United States has the lowest labor participation rate since the '70s. Families on food stamps have DOUBLED since 2008. In Europe, the numbers look very similar... perhaps worse.

The price of oil is one thing, but there is much more this storm.

Yes, existing/base production isn't free but it is certainly much better than new production. A lot of science working on minimizing the decline to something less than 20-25%/yr.

I certainly agree that oil is only one small part of the equation.

I think what has really changed with this generation is the sense of entitlement! $70,000 trucks leased, $16,000 sleds financed, $500,000 homes bought with only 5 or 10% down, expectation of a six figure salary. All this has created an economy that is very fragile. A dip in the oil price (even for only a couple months) will have a significant impact to those who played the game.

Same deal in much of Europe, something for nothing (big wages, benefits, retirement plans, hoidays for workers in France and especially Greece with very little value coming out the other end-such poor performance that private industry hardly exists). In complete contrast to Northern Europe and Germany.

 

[neilsleder]

Yes, existing/base production isn't free but it is certainly much better than new production. A lot of science working on minimizing the decline to something less than 20-25%/yr.

I certainly agree that oil is only one small part of the equation.

I think what has really changed with this generation is the sense of entitlement! $70,000 trucks leased, $16,000 sleds financed, $500,000 homes bought with only 5 or 10% down, expectation of a six figure salary. All this has created an economy that is very fragile. A dip in the oil price (even for only a couple months) will have a significant impact to those who played the game.

Same deal in much of Europe, something for nothing (big wages, benefits, retirement plans, hoidays for workers in France and especially Greece with very little value coming out the other end-such poor performance that private industry hardly exists). In complete contrast to Northern Europe and Germany.

Yes the since of entitlement is huge these days! I am the Forman of a welding shop, worked my ass off for years put my job before my personal life to get where I am at right now. Now days there snot nose geeks that have zero skills and zero ambition come in looking for a job. So I try to give them a chance tell them I will start them out at $18 an hour and they turn me down and give me attitude that I low balked them so bad. Your guys needs this recession to learn to fight for a job instead of expecting it!


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[Joholio]

I got told to raise my rates...

 

[LBZ]

I got told to raise my rates...

Are you hiring?

 

[pistoncontracting]

Now days there snot nose geeks that have zero skills and zero ambition come in looking for a job. So I try to give them a chance tell them I will start them out at $18 an hour and they turn me down and give me attitude that I low balked them so bad. Your guys needs this recession to learn to fight for a job instead of expecting it!

Agree for the most part, but don't be fooled. That sense of entitlement isn't just in the young folk. Who taught them to think like that??

 

[rzrgade]

Bob barker......

 

[lloydguy]

Yes the since of entitlement is huge these days! I am the Forman of a welding shop, worked my ass off for years put my job before my personal life to get where I am at right now. Now days there snot nose geeks that have zero skills and zero ambition come in looking for a job. So I try to give them a chance tell them I will start them out at $18 an hour and they turn me down and give me attitude that I low balked them so bad. Your guys needs this recession to learn to fight for a job instead of expecting it!


You have a point,but on the other side of the coin.Where is that new employee supposed to live on an $18 wage?
A cardboard box in a back alley?
5ish years ago a 40 year mortgage was laughed at by most people,now it's almost the norm. REAL wages are flat lining
and housing,rent,ect is going up,up,up. That's just the way it is.At the rate we are going the average Joe is going to be
working 3 weeks a month just for a place to live.

 

[neilsleder]

Yes the since of entitlement is huge these days! I am the Forman of a welding shop, worked my ass off for years put my job before my personal life to get where I am at right now. Now days there snot nose geeks that have zero skills and zero ambition come in looking for a job. So I try to give them a chance tell them I will start them out at $18 an hour and they turn me down and give me attitude that I low balked them so bad. Your guys needs this recession to learn to fight for a job instead of expecting it!


You have a point,but on the other side of the coin.Where is that new employee supposed to live on an $18 wage?
A cardboard box in a back alley?
5ish years ago a 40 year mortgage was laughed at by most people,now it's almost the norm. REAL wages are flat lining
and housing,rent,ect is going up,up,up. That's just the way it is.At the rate we are going the average Joe is going to be
working 3 weeks a month just for a place to live.

They can be like the rest of us and live with three of our buddies in a one bedroom sh!ty apartment, and not drive a new diesel pick up truck! Not to sound like a dick but it's your guys kind of attitude that gives your children that entitlement.


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[neilsleder]

Agree for the most part, but don't be fooled. That sense of entitlement isn't just in the young folk. Who taught them to think like that??

Very true!


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[pistoncontracting]

So what would a 'fair wage' be??

 

[Joholio]

Might be a good time to make some investments while sh!t is in the can

 

[AreWeThereYet]

I got told to raise my rates...

We gave a 2% raise and kept our rates the same.