In order to get a sense of when this crises might end, I think we need to understand how it all started in the first place. This is reality folks, not my opinion.
www.iousathemovie.com
www.iousathemovie.com
QUOTE (egambling @ Dec 13 2008, 12:16 AM) In order to get a sense of when this crises might end, I think we need to understand how it all started in the first place. This is reality folks, not my opinion. www.iousathemovie.com
OK I get it, I really get it, so...
What are you doing?
What can each one of us do?
Starts with reference to `AN INCONVENIENT TRUTH` but what do most people do as a response to Global Warming/Climate Change?
Do YOU change anything in your life?
The definition of insanity = doing the same thing and expecting different results.
OK I get it, I really get it, so...
What are you doing?
What can each one of us do?
Starts with reference to `AN INCONVENIENT TRUTH` but what do most people do as a response to Global Warming/Climate Change?
Do YOU change anything in your life?
The definition of insanity = doing the same thing and expecting different results.
true, we are intimately tied to them, BUT, we`ve been running budget SURPLUSES for many years. Our consumer debt is bad, BUT, nothing like in the US. We do sorely lack the political leadership to nurture some projects which take VISION. i.e., what`s going on with the pipeline to the BC coast? we NEED to diversify, and be able to sell to the Chinese and Indians!
QUOTE (Jack @ Dec 13 2008, 12:47 PM) Great find, Elaine. A must-see indeed.
Here`s the scary part - as we`ve seen recently, in contrast to so many reports about Canada`s "stability" and/or Canada`s "recession-proof" facade, our economy is tied to the U.S.`s, and we do lag their performance.
QUOTE (Jack @ Dec 13 2008, 12:47 PM) Great find, Elaine. A must-see indeed.
Here`s the scary part - as we`ve seen recently, in contrast to so many reports about Canada`s "stability" and/or Canada`s "recession-proof" facade, our economy is tied to the U.S.`s, and we do lag their performance.
QUOTE (ZanderRobertson @ Dec 13 2008, 12:55 PM) true, we are intimately tied to them, BUT, we`ve been running budget SURPLUSES for many years. Our consumer debt is bad, BUT, nothing like in the US. We do sorely lack the political leadership to nurture some projects which take VISION. i.e., what`s going on with the pipeline to the BC coast? we NEED to diversify, and be able to sell to the Chinese and Indians!
Hi Zander
Canada`s surplus is rapidly shrinking and our-export dependant economy will only get worse because the US consumers are pulling back, which in turn will slow down the already vulnerable BRIC economies.
What we need to be concerned about is deflation. The US feds have been frantically trying to stave off deflation with bailouts, and it`s not working. They`ve already thrown nearly 9 Trillion dollars at it and the credit supply is still tightening, the stock markets are still crashing, economy contracting, more job losses, more bankruptcies, more and more house foreclosures, etc.
It`s rather ironic, because debt is what got them in trouble in the first place, and now they`re using even more debt to try to solve the problem! This is typical Keynesian economics at work.
Without getting too complicated, inflation which, over the past several years, caused this great expansion of credit (fiat money) and promoted debt, has hit the wall. Deflation (a drastic reduction in the quantity of money and money substitutes and causes all money prices to drop, including wages) is trying to take over, and by all indications it`s winning. Deflation is also a social mood; when the american people get fed-up enough and the government caves in and abandons the bailouts, deflationary psychology will have won. So, when that happens, people who hold debt (mortgages, loans, etc.) are going to be devastated and people who have cash are going to be able to buy things dirt cheap.
Cheers!
Hi Zander
Canada`s surplus is rapidly shrinking and our-export dependant economy will only get worse because the US consumers are pulling back, which in turn will slow down the already vulnerable BRIC economies.
What we need to be concerned about is deflation. The US feds have been frantically trying to stave off deflation with bailouts, and it`s not working. They`ve already thrown nearly 9 Trillion dollars at it and the credit supply is still tightening, the stock markets are still crashing, economy contracting, more job losses, more bankruptcies, more and more house foreclosures, etc.
It`s rather ironic, because debt is what got them in trouble in the first place, and now they`re using even more debt to try to solve the problem! This is typical Keynesian economics at work.
Without getting too complicated, inflation which, over the past several years, caused this great expansion of credit (fiat money) and promoted debt, has hit the wall. Deflation (a drastic reduction in the quantity of money and money substitutes and causes all money prices to drop, including wages) is trying to take over, and by all indications it`s winning. Deflation is also a social mood; when the american people get fed-up enough and the government caves in and abandons the bailouts, deflationary psychology will have won. So, when that happens, people who hold debt (mortgages, loans, etc.) are going to be devastated and people who have cash are going to be able to buy things dirt cheap.
Cheers!
yes the surplus days are over, for a while anyways. how long, i don`t know. do you? my point in bringing it up was to contrast it with what the film shows...i.e., that while the USA has been growing their deficits for 8 years, Canada has been quite fiscally responsible. NO DOUBT we`re linked to them so closely that when they sneeze, we catch a cold.
thanks for the film link.
QUOTE (egambling @ Dec 14 2008, 03:41 PM) Hi Zander
Canada`s surplus is rapidly shrinking and our-export dependant economy will only get worse because the US consumers are pulling back, which in turn will slow down the already vulnerable BRIC economies.
What we need to be concerned about is deflation. The US feds have been frantically trying to stave off deflation with bailouts, and it`s not working. They`ve already thrown nearly 9 Trillion dollars at it and the credit supply is still tightening, the stock markets are still crashing, economy contracting, more job losses, more bankruptcies, more and more house foreclosures, etc.
It`s rather ironic, because debt is what got them in trouble in the first place, and now they`re using even more debt to try to solve the problem! This is typical Keynesian economics at work.
Without getting too complicated, inflation which, over the past several years, caused this great expansion of credit (fiat money) and promoted debt, has hit the wall. Deflation (a drastic reduction in the quantity of money and money substitutes and causes all money prices to drop, including wages) is trying to take over, and by all indications it`s winning. Deflation is also a social mood; when the american people get fed-up enough and the government caves in and abandons the bailouts, deflationary psychology will have won. So, when that happens, people who hold debt (mortgages, loans, etc.) are going to be devastated and people who have cash are going to be able to buy things dirt cheap.
Cheers!
Once deflation takes hold, no government will be able to stop it - it has to run it`s course!
thanks for the film link.
QUOTE (egambling @ Dec 14 2008, 03:41 PM) Hi Zander
Canada`s surplus is rapidly shrinking and our-export dependant economy will only get worse because the US consumers are pulling back, which in turn will slow down the already vulnerable BRIC economies.
What we need to be concerned about is deflation. The US feds have been frantically trying to stave off deflation with bailouts, and it`s not working. They`ve already thrown nearly 9 Trillion dollars at it and the credit supply is still tightening, the stock markets are still crashing, economy contracting, more job losses, more bankruptcies, more and more house foreclosures, etc.
It`s rather ironic, because debt is what got them in trouble in the first place, and now they`re using even more debt to try to solve the problem! This is typical Keynesian economics at work.
Without getting too complicated, inflation which, over the past several years, caused this great expansion of credit (fiat money) and promoted debt, has hit the wall. Deflation (a drastic reduction in the quantity of money and money substitutes and causes all money prices to drop, including wages) is trying to take over, and by all indications it`s winning. Deflation is also a social mood; when the american people get fed-up enough and the government caves in and abandons the bailouts, deflationary psychology will have won. So, when that happens, people who hold debt (mortgages, loans, etc.) are going to be devastated and people who have cash are going to be able to buy things dirt cheap.
Cheers!
Once deflation takes hold, no government will be able to stop it - it has to run it`s course!
QUOTE (ZanderRobertson @ Dec 14 2008, 11:46 PM) yes the surplus days are over, for a while anyways. how long, i don`t know. do you? my point in bringing it up was to contrast it with what the film shows...i.e., that while the USA has been growing their deficits for 8 years, Canada has been quite fiscally responsible. NO DOUBT we`re linked to them so closely that when they sneeze, we catch a cold.
In general, I agree with you, Zander, but I think you got that last line there wrong. It`s not that they`re sneezing, but we`re getting the cold. It`s more like they couldn`t fight off their pneumonia, so we`re going to get the sniffles!
Have a good one, all!
JohnS
In general, I agree with you, Zander, but I think you got that last line there wrong. It`s not that they`re sneezing, but we`re getting the cold. It`s more like they couldn`t fight off their pneumonia, so we`re going to get the sniffles!
Have a good one, all!
JohnS
QUOTE It`s more like they couldn`t fight off their pneumonia, so we`re going to get the sniffles!
I think it`ll be a little more serious for Canada than "the sniffles".
You`re talking about the consumer of 80% of our exports. This is one of the reasons I don`t understand why many seem to think that Canada`s in such great shape while at the same time acknowledging the fact that the U.S. has a long ways to go.
I think it`ll be a little more serious for Canada than "the sniffles".
You`re talking about the consumer of 80% of our exports. This is one of the reasons I don`t understand why many seem to think that Canada`s in such great shape while at the same time acknowledging the fact that the U.S. has a long ways to go.
Far to many Canadians seem to exist in a bubble believing what happens in the states will only have a minor ripple effect on us. They stand with there back to the cliff looking at where we came from thinking we are somehow different.
We are in a way I guess in that the US is already gone over the edge while we are basking in how well off we have been.
Unfortunately we are shackled to the US economy and when the chain comes to an end we will be pulled over as well.
I don`t believe we will only fall half way to the bottom.
We are in a way I guess in that the US is already gone over the edge while we are basking in how well off we have been.
Unfortunately we are shackled to the US economy and when the chain comes to an end we will be pulled over as well.
I don`t believe we will only fall half way to the bottom.
QUOTE (Jack @ Dec 15 2008, 10:30 AM) I think it`ll be a little more serious for Canada than "the sniffles".
You`re talking about the consumer of 80% of our exports. This is one of the reasons I don`t understand why many seem to think that Canada`s in such great shape while at the same time acknowledging the fact that the U.S. has a long ways to go.
You have a point.
Remember though, that much of that 80% of our exports are energy related and they won`t miss a beat (though prices are lower - but from obscene highs). I wonder how much of our exports are really going to see a big drop. Autos certainly, Lumber is already a wreck, Energy and Natural Resources not so much. I wonder how much of our exports to the USA are not going to see much reduction in volumes.
Does anyone out there have good info on this question?
You`re talking about the consumer of 80% of our exports. This is one of the reasons I don`t understand why many seem to think that Canada`s in such great shape while at the same time acknowledging the fact that the U.S. has a long ways to go.
You have a point.
Remember though, that much of that 80% of our exports are energy related and they won`t miss a beat (though prices are lower - but from obscene highs). I wonder how much of our exports are really going to see a big drop. Autos certainly, Lumber is already a wreck, Energy and Natural Resources not so much. I wonder how much of our exports to the USA are not going to see much reduction in volumes.
Does anyone out there have good info on this question?
Here`s an interesting article regarding the deflation vs. inflation debate: Hi Zander
Canada`s surplus is rapidly shrinking and our-export dependant economy will only get worse because the US consumers are pulling back, which in turn will slow down the already vulnerable BRIC economies.
What we need to be concerned about is deflation. The US feds have been frantically trying to stave off deflation with bailouts, and it`s not working. They`ve already thrown nearly 9 T[/b]rillion dollars at it and the credit supply is still tightening, the stock markets are still crashing, economy contracting, more job losses, more bankruptcies, more and more house foreclosures, etc.
It`s rather ironic, because debt is what got them in trouble in the first place, and now they`re using even more debt to try to solve the problem! This is typical Keynesian economics at work.
Without getting too complicated, inflation which, over the past several years, caused this great expansion of credit (fiat money) and promoted debt, has hit the wall. Deflation (a drastic reduction in the quantity of money and money substitutes and causes all money prices to drop, including wages) is trying to take over, and by all indications it`s winning. Deflation is also a social mood; when the american people get fed-up enough and the government caves in and abandons the bailouts, deflationary psychology will have won. So, when that happens, people who hold debt (mortgages, loans, etc.) are going to be devastated and people who have cash are going to be able to buy things dirt cheap.
Cheers!
Once deflation takes hold, no government will be able to stop it - it has to run it`s course!
Canada`s surplus is rapidly shrinking and our-export dependant economy will only get worse because the US consumers are pulling back, which in turn will slow down the already vulnerable BRIC economies.
What we need to be concerned about is deflation. The US feds have been frantically trying to stave off deflation with bailouts, and it`s not working. They`ve already thrown nearly 9 T[/b]rillion dollars at it and the credit supply is still tightening, the stock markets are still crashing, economy contracting, more job losses, more bankruptcies, more and more house foreclosures, etc.
It`s rather ironic, because debt is what got them in trouble in the first place, and now they`re using even more debt to try to solve the problem! This is typical Keynesian economics at work.
Without getting too complicated, inflation which, over the past several years, caused this great expansion of credit (fiat money) and promoted debt, has hit the wall. Deflation (a drastic reduction in the quantity of money and money substitutes and causes all money prices to drop, including wages) is trying to take over, and by all indications it`s winning. Deflation is also a social mood; when the american people get fed-up enough and the government caves in and abandons the bailouts, deflationary psychology will have won. So, when that happens, people who hold debt (mortgages, loans, etc.) are going to be devastated and people who have cash are going to be able to buy things dirt cheap.
Cheers!
Once deflation takes hold, no government will be able to stop it - it has to run it`s course!
QUOTE (ZanderRobertson @ Dec 15 2008, 01:13 PM) Here`s an interesting article regarding the deflation vs. inflation debate: http://www.kitco.com/ind/Schiff/dec212007.html
I`m certainly not knowledgeable enough about these things to know if it`s correct or not. then again, the economists seem to be right about as often as meteorologists, in other words it`s a crapshoot.
if Schiff is right, your assertion that those with cash will be able to buy buy buy has to be amended to, "those with gold will be able to buy things dirt cheap."
thanks again.
Great link. Thanks. The only question that comes to my mind is "how does this affect me as an investor in real estate over the next 10 years ?
I`m certainly not knowledgeable enough about these things to know if it`s correct or not. then again, the economists seem to be right about as often as meteorologists, in other words it`s a crapshoot.
if Schiff is right, your assertion that those with cash will be able to buy buy buy has to be amended to, "those with gold will be able to buy things dirt cheap."
thanks again.
Great link. Thanks. The only question that comes to my mind is "how does this affect me as an investor in real estate over the next 10 years ?
http://www.youtube.com/watch?v=NT-2fenmLnc
this was pretty a pretty good watch, there is also a 2hr movie on youtube.
any thoughts?
this was pretty a pretty good watch, there is also a 2hr movie on youtube.
any thoughts?
QUOTE (housingrental @ Dec 15 2008, 08:48 PM)
Of note
There were newspaper articles in the 1950's that warned of the record levels of debt and the coming collapse because of it
Inflation's a funny thing you know?
indeed ..
check out these statistics and reports: http://www.shadowstats.com
HARD ASSETS WITH INCOME ARE KING once this deflation of value down to normal levels is over, such as oil companies, gold mining companies and cash-flow real estate such as recession-proof apartment buildings !!
The club of Rome also predicted an end of the unsustainable growth in the mid 70's !
Some people even believe in man-made global warming ..
Of note
There were newspaper articles in the 1950's that warned of the record levels of debt and the coming collapse because of it
Inflation's a funny thing you know?
indeed ..
check out these statistics and reports: http://www.shadowstats.com
HARD ASSETS WITH INCOME ARE KING once this deflation of value down to normal levels is over, such as oil companies, gold mining companies and cash-flow real estate such as recession-proof apartment buildings !!
The club of Rome also predicted an end of the unsustainable growth in the mid 70's !
Some people even believe in man-made global warming ..
Yes this is bad for the mind
Kind of like a bad Michael Moore film but with prejudiced hate filled conspiratorial undertones
QUOTE (calgarypoolshark @ Dec 17 2008, 02:30 PM) http://www.youtube.com/watch?v=NT-2fenmLnc
this was pretty a pretty good watch, there is also a 2hr movie on youtube.
any thoughts?
Kind of like a bad Michael Moore film but with prejudiced hate filled conspiratorial undertones
QUOTE (calgarypoolshark @ Dec 17 2008, 02:30 PM) http://www.youtube.com/watch?v=NT-2fenmLnc
this was pretty a pretty good watch, there is also a 2hr movie on youtube.
any thoughts?