Darn economy!

[fkshiu]

Originally Posted by EmilyB

I just heard on the news yesterday that Calgary has the best economy in the World. (First Canada, then Calgary, is the best in Canada).

Funny, that's what our local politicians are saying about Vancouver as well

[Electric eel]

If people would just stop watching the news there would be no economic meltdown! Its all caused by media hype.

[traco]

Sorry to hear about job losses on the forum here. Logging industry sucks, well more like a dinosaur, pretty much extinct for us.

[Powertec]

Originally Posted by Electric eel

If people would just stop watching the news there would be no economic meltdown! Its all caused by media hype.

Really?
I have to disagree with you along with i am sure everyone else that has lost there job in the last couple months.This is far from media hype.

[Lydia]

Originally Posted by Powertec

Really?
I have to disagree with you along with i am sure everyone else that has lost there job in the last couple months.This is far from media hype.

I think the media is contributing, though. People hear times are bad, so they don't buy things in the store or go out for dinner. Stores and restaurants lose money, so lay off staff... I've read a few 'survey' stories now where people are asked if they plan to stop spending. When the majority say they will, I can't help but feel that will make others think twice about spending money, too....

[whatcaneyedo]

I'm laid off at the moment as well. I have a BComm and I'm a second year Carpenter apprentice but there just isn't any work here.

[Doug]

Originally Posted by whatcaneyedo

I'm laid off at the moment as well. I have a BComm and I'm a second year Carpenter apprentice but there just isn't any work here.

You could have your choice of places to use your trade out here.

[Whatigot]

Sfunny...
I got a raise last month.
Guess thats what happens when you lose half your business due to market conditions and your boss is afraid you'll lose the other half if you leave.

I work in the financial industry, sort of on the frontline of all this b.s. and while the media does play it's part in market manipulation, they are merely doing exactly what the talking heads expected and planned for them to do.

I also have a few friends who aren't drunk who have lost their jobs, one of them an insulator, just thought that comment was a little ignorant, especially to those who have been laid off and are not "drunks".

anyone in the stock market at all here?
I'm looking around now and thinking this is the greatest opportunity of my life to create wealth, at least as far as canadian public companies go (like talisman and suncor for that matter)

The fallout from american overspending and the "aaa" mortgage backed paper that got us all into this mess will be long lasting, but the fed and governments all over the world are taking larger and swifter steps to combat it then ever before in history.

This recession has affected the service industries so far, it'll be the retail, tourism and small businesses that will have to watch the bottom line now as the layoffs trickle their way down through the economy

Take it as a good sign that since lehman brothers, we haven't seen any other major financial institutions crack and falter YET.
this should have been much worse, and it seems that the unprecedented steps being taken by those that allowed this all to occur under their noses is working, so far....

[Trigger Man]

media does affect peoples decisions, but in this case I think it is a good thing they are pointing out the downturn. If they were not then people would spend more and probably worry about paying it later, without realizing the whole worlds economies have slowed down. This in turn would cause these people to get hit even harder when the slowdown affects them.
I run my own business lending out money to people who can't get it from the bank or need it really quickly, since September I've had to reposess on properties, which I've been lucky enough to never have had to do in years. Some of the people you feel bad for, but others just continued to travel, eat lavish dinners, buy new cars, and then when money is not coming in for them anymore they don't know what happened, or how it happened.
There is a fine line between enjoying life and living within ones means (tend to get through these times), and just blowing money believing that nothing will affect them.

[midgetwaiter]

Originally Posted by Electric eel

If people would just stop watching the news there would be no economic meltdown! Its all caused by media hype.

IMO it's how shallow the media reporting is on the situation that gives people that impression. The problems that brought this mess on are 3 1/2 years old but most people couldn't understand what the impact of it would be. The smart money went to hedge funds and the rest of us sat there wondering why commodity prices were rising so fast. We should all remember that little warning sign for next time.

I think if the media really did a good job of getting the story out there into the minds of the average person there the guys that came up with these mortgage back derivatives would be up against a wall asking for a last cigarette. Provided the bond raters were next to them I'd support the idea.