Covid-19

[SpeedFlex27]

9 hours ago, iHeart said:

man I imagine so many seasonal businesses are going to be effected too, Fun Mountain, Tinkertown, the ice cream exclusive Dairy Queens

They will, yes.  Everything will be affected. We are heading for a full blown world wide depression. I'd assume deflation will follow.  That $400,000 home you have may end up worth half that. Wanna sell your $40,000 truck & wondering why people are only offering 20?  I also expect wages will follow suit & plummet as well. Unemployment will probably stay around 20% because of all the failed small businesses. And large companies that go under because they fundamentally could not adapt to the soon to be New World Order. 

Edited March 31, 2020 by SpeedFlex27

[Super Duper Negatron]

57 minutes ago, The Unknown Poster said:

I can't believe he's going to claim he was too distracted by impeachment.  How many people are THAT stupid???

Wait, that isn't a parody?

[Super Duper Negatron]

double post

Edited April 1, 2020 by Super Duper Negatron

[iHeart]

wow, maybe it's a good thing I didn't put that Club Card member ballot in on March 17th after all.

[Tiny759]

54 minutes ago, SpeedFlex27 said:

They will, yes.  Everything will be affected. We are heading for a full blown world wide depression. I'd assume deflation will follow.  That $400,000 home you have may end up worth half that. Wanna sell your $40,000 truck & wondering why people are only offering 20?  I also expect wages will follow suit & plummet as well. Unemployment will probably stay around 20% because of all the failed small businesses. And large companies that go under because they fundamentally could not adapt to the soon to be New World Order. 

Sounds like a good time to make real estate investments then

[SpeedFlex27]

3 minutes ago, Tiny759 said:

Sounds like a good time to make real estate investments then

Well not really if people have no money to buy.

[do or die]

1 hour ago, The Unknown Poster said:

I can't believe he's going to claim he was too distracted by impeachment.  How many people are THAT stupid???

Cruise around the Net, and find out....

[Tiny759]

33 minutes ago, SpeedFlex27 said:

Well not really if people have no money to buy.

I know was meant as a bit tongue in cheek 

[Noeller]

I actually think we're going to see a boom similar to post WW2. Everything will rebound pretty quickly. 

[SpeedFlex27]

36 minutes ago, Tiny759 said:

I know was meant as a bit tongue in cheek 

Ha ha. I know. I bet a lot of people thought the same thing on November 1, 1929. 

[SpeedFlex27]

37 minutes ago, Noeller said:

I actually think we're going to see a boom similar to post WW2. Everything will rebound pretty quickly. 

Only if businesses big & small can bounce back.  The Recession in the late 70's to early 80's lasted a long time as well. Changes happened after the 2008 recession as well.  We just don't know as we've never experienced anything like this before. 

[Eternal optimist]

2 hours ago, SpeedFlex27 said:

They will, yes.  Everything will be affected. We are heading for a full blown world wide depression. I'd assume deflation will follow.  That $400,000 home you have may end up worth half that. Wanna sell your $40,000 truck & wondering why people are only offering 20?  I also expect wages will follow suit & plummet as well. Unemployment will probably stay around 20% because of all the failed small businesses. And large companies that go under because they fundamentally could not adapt to the soon to be New World Order. 

As someone that worked their butt off to pay off their mortgage at age 30, this does make me a little happy, only to see those living beyond their means squirm a bit. I also understand that is somewhat karmic suicide, but c'est la vie.

[Tracker]

Sen. Elizabeth Warren is demanding to know why the Trump administration earlier this month seized at least two shipments of badly-needed medical supplies to fight the coronavirus pandemic headed for her state of Massachusetts and accused the federal government of continually outbidding states as officials try to procure life-saving equipment.

After President Donald Trump on March 19 scolded governors for expecting the federal government to take responsibility for the spread of the coronavirus and ensure that states have ventilators and personal protective equipment (PPE) for healthcare providers—saying states should “try getting it” themselves—the administration outbid Massachusetts officials and kept the supplies out of the state’s reach, Warren said in a tweet on Tuesday.

Elizabeth Warren

 

✔@SenWarren

"Trump told states they were on their own to purchase medical equipment, so that’s what MA tried to do. But then the federal government outbid MA at least 3 times – and reports show two of our orders were seized by federal authorities. This is unacceptable. ""https://www.bostonglobe.com/2020/03/31/nation/warren-feds-why-did-you-take-massachusettss-medical-supplies/ …

 

[SpeedFlex27]

31 minutes ago, Eternal optimist said:

As someone that worked their butt off to pay off their mortgage at age 30, this does make me a little happy, only to see those living beyond their means squirm a bit. I also understand that is somewhat karmic suicide, but c'est la vie.

I drove through an affluent area of Calgary about a week & a half ago. Big, big houses. In every driveway, people had 2 vehicles in the driveways. Lots had a third vehicle parked on the street. Some of them own recreational properties in BC, Montana or Arizona. People are maxxed out. Huge mortgages, multiple vehicle payments & credit card debts.

If we do have a depression there will be a culling of the herd. I don't mean people dying. I'm talking about people being forced to live within their means financially. It will be difficult, it will be painful. It will be hard.

My parents lived thru the Dirty 30's. Even when things were good in the  50's, 60's & 70's they were terrified of losing their money & our house. Five of us lived in an 800 sq  ft home in Riverview in South Winnipeg. I had an older brother & sister. I didn't get my own room until my older brother got married when I was 13. They didn't spend on many luxuries because they didn't want to.

We had one vacation as a family. Truthfully, just one. Even back then that was considered cheap. We drove to Vancouver when I was nine. We never stayed in a hotel. We stayed with family the whole way there & back. My folks would never had gone if they had to spend money on hotels. When I was a kid & I wanted to borrow a couple of dollars to go to the movies or get an ice cream cone at the BDI with my friends, I was always scolded about not appreciating the value of money. I was 8! I  mean,  it was living within your means to the point of paranoia but the Depression of the 1930's was a bad time for them & was very traumatic. My grandfather lost the family farm up in Moosehorn & my Dad talked about that a lot. 

Edited April 1, 2020 by SpeedFlex27

[Tiny759]

31 minutes ago, SpeedFlex27 said:

Ha ha. I know. I bet a lot of people thought the same thing on November 1, 1929. 

Feels like one of the few times being a rancher is beneficial 

[Tiny759]

26 minutes ago, SpeedFlex27 said:

Only if businesses big & small can bounce back.  The Recession in the late 70's to early 80's lasted a long time as well. Changes happened after the 2008 recession as well.  We just don't know as we've never experienced anything like this before. 

This is why large and small business bailouts is not the work of the devil as what some people want to put it.  If a recession does happen, which could or could not happen, we can only speculate since no one can see the future, large business will be an essential part in getting the economy back in order.

[17to85]

9 minutes ago, SpeedFlex27 said:

I drove through an affluent area of Calgary about a week & a half ago. Big, big houses. Every driveway had 2 vehicles in the driveways. Sometimes a third vehicle parked on the street. Some of them own recreational properties in BC or Arizona. People are maxxed out. Huge mortgages, multiple vehicle payments & credit card debts. If we do have a depression there will be a culling of the herd. I don't mean people dying. I'm talking about people being forced to live within their means financially. It will be difficult, it will be painful. It will be hard. My parents lived thru the Dirty 30's. Even when things were good in the  50's, 60's & 70's they were terrified of losing their money & our house. They didn't spend on many luxuries because they didn't want to. When I was a kid & I wanted to borrow a couple of dollars to go to the movies or get an ice cream cone with my friends, I was always scolded about not appreciating the value of money. 

Now you sound like a boomer. It's a lot harder to get ahead these days when the value of homes doesn't just skyrocket. Things are more expensive, the world is much more disposable than it used to be, wages don't keep up with inflation. Some of us appreciate the value of money, but it's bloody tough out there. 

[17to85]

1 minute ago, Tiny759 said:

This is why large and small business bailouts is not the work of the devil as what some people want to put it.  If a recession does happen, which could or could not happen, we can only speculate since no one can see the future, large business will be an essential part in getting the economy back in order.

The key is that a lot of the bailout has to be to workers keeping them able to pay their bills. Which is why I love that the government is going to help cover wages and pay for things like EI. You want a strong economy the way to get it is a robust middle class with lots of spending power. Economic strength isn't a top down thing, it's bottom up. When the lowest class and the middle class can spend you will see a strong economy.

[Tracker]

15 minutes ago, SpeedFlex27 said:

I drove through an affluent area of Calgary about a week & a half ago. Big, big houses. Every driveway had 2 vehicles in the driveways. Sometimes a third vehicle parked on the street. Some of them own recreational properties in BC or Arizona. People are maxxed out. Huge mortgages, multiple vehicle payments & credit card debts. If we do have a depression there will be a culling of the herd. I don't mean people dying. I'm talking about people being forced to live within their means financially. It will be difficult, it will be painful. It will be hard. My parents lived thru the Dirty 30's. Even when things were good in the  50's, 60's & 70's they were terrified of losing their money & our house. They didn't spend on many luxuries because they didn't want to. When I was a kid & I wanted to borrow a couple of dollars to go to the movies or get an ice cream cone with my friends, I was always scolded about not appreciating the value of money. 

I have family and friends in Calgary and area. They report that many of their acquaintances just cannot accept that the boom is over once again and probably for good. Damned few of the politicians in Alberta, provincial and federal are willing to say out loud that its over.

[SpeedFlex27]

5 minutes ago, 17to85 said:

Now you sound like a boomer. It's a lot harder to get ahead these days when the value of homes doesn't just skyrocket. Things are more expensive, the world is much more disposable than it used to be, wages don't keep up with inflation. Some of us appreciate the value of money, but it's bloody tough out there. 

Only a boomer cuz I had The Quiet Generation as parents. My age is what it is.  I have no control over it. They passed on their experiences to me. I used to get tired hearing about the depression & that I didn't appreciate the value of money.  Once, I was in high school & for the zillionth time I heard that damned phrase being thrown at me. I yelled back that of course I didn't appreciate the value of money because I'm only 15 & stormed out of the house slamming the door behind me so I got my first job. Bus boy at the Masonic Temple. 

[JCon]

19 minutes ago, Tiny759 said:

This is why large and small business bailouts is not the work of the devil as what some people want to put it.  If a recession does happen, which could or could not happen, we can only speculate since no one can see the future, large business will be an essential part in getting the economy back in order.

We are already experiencing a recession. 

You speak like a recent or wanna be Asper grad.

[SpeedFlex27]

6 minutes ago, Tracker said:

I have family and friends in Calgary and area. They report that many of their acquaintances just cannot accept that the boom is over once again and probably for good. Damned few of the politicians in Alberta, provincial and federal are willing to say out loud that its over.

I'm Conservative & voted UCP but even Jason Kenney's announcement today of investing in Keystone XL got me gobsmacked. Like WTF is he doing in the middle of a pandemic investing tax dollars while cutting in every aspect of our daily lives??? On Saturday they cut 128 M from education & directed it into fighting Covid 19 just 3 days ago saying as a province we are broke. Then 3 days later, we spend $1.5 B on Keystone XL??? Where did that money come if were broke. Yep, put money into a pipeline but not into healthcare. Crazy. I'm pissed off. Albertans are governed by ideology & not good government. 

[Tiny759]

19 minutes ago, 17to85 said:

The key is that a lot of the bailout has to be to workers keeping them able to pay their bills. Which is why I love that the government is going to help cover wages and pay for things like EI. You want a strong economy the way to get it is a robust middle class with lots of spending power. Economic strength isn't a top down thing, it's bottom up. When the lowest class and the middle class can spend you will see a strong economy.

That is 100% true. But the small, medium, and large businesses/corporation have to be there. Without one there, there won’t be there other. It’s crucial govt funding is allocated correctly. 

[Tiny759]

14 minutes ago, JCon said:

We are already experiencing a recession. 

You speak like a recent or wanna be Asper grad.

I am! Thanks for noticing! You sound a little condescending with the “wanna be”

sorry maybe I should’ve Clarified, meant as how long a recession will be after this all clears up, or how big it will once this whole thing clears up

Edited April 1, 2020 by Tiny759

[JCon]

6 minutes ago, Tiny759 said:

I am! Thanks for noticing! You sound a little condescending with the “wanna be”

Ouch. Sorry, it offended you. Just pointing that you're not quite there.