Darn economy!

[Whatigot]

Originally Posted by mike31154

Yes, losing one's job is definitely a time of stress. Sorry to hear about anyone's misfortune in that regard. I'm on a fixed income, but it is an income so I'm lucky not to have to rely on full time employment...yet.

I guess I could say I'm in the market with my RRSP Mutual Fund portfolio. It's bleeding red big time at the moment and really too late to do anything about it. Just have to wait and ride it out. I certainly don't have the cash to take advantage of the low market prices right now. I'm in no position to take out a loan to buy stuff, especially stocks. And there aren't any gov't programs that are going to get me pulling any money out of my RRSP at a loss and start spending it to help get the economy going again.... even though the 'renovation' package recently announced sounds very tempting. My old house is in need of some upgrades.

Hang in there everyone, Canada is and will remain the best place to be, no matter what. The Okanagan valley offers everything I need to enjoy life, ski in the winter, the odd trip into the backcountry, motorcycle/canoe in the summer. No need for high priced vacations to the tropics for me.

Oh man, I feel for ya mike.
Some of those rrsp fund managers really blew it without doing due diligence on what they were buying.
Others, they made all the safe calls, but just got pulled down with the rest of us in the panic sell off of EVERYTHING in October.
Good point on Canada, our banks were much smarter than just about everyone elses and we are exceptionally rich in resources compared to 90% of the world.

[mike31154]

Thanks, but no worries. I'm still in good shape, no debts and I'm very patient when I need to be. Feel for those that actually lost their job...

[Whatigot]

feel worse for those who lost their retirement in mutual fund/rrsp's that were supposed to be 0 risk...

[steve fedyk]

I got layed off last week and found a new job back at the pressure shop. I'm fitter/welder and I sand blast and paint on the side. Took a big pay from the ship yard to the shop, But lots of over time for the next week and that no work. My dad works for Sunco on one of the new biulds but they are slowing down untill April. Eveyone say we will be picking up in April.
In Vancauver we have the 2010 hole (games) with lots of biulds todo.

[Tarolisol]

Wow I never really though it was that bad, but now that I see it effecting people it sucks. It seems the worse the economy gets the more people turn towards my work. (liquor store)

[Slick Fork]

I'd also have to agree that this is probably a once in a lifetime opportunity to be buying stocks in Solid companies. Every spare dollar I get is going into investments right now. It's just a waiting game

I hate to say it since so many people are involved with oil and gas but I have a hard time feeling sorry for that industry. It wasn't that long ago when $40 a barrel was causing people to jump up and down for joy and my sympathy ends when we're still paying 80cents/litre for fuel. Exxon mobil posted record setting profits this last year.

As for us, peoples horses still need shoes so we're still busy. We've just discovered that it's a little riskier to accept cheques these days

[Powertec]

Originally Posted by Slick Fork

I hate to say it since so many people are involved with oil and gas but I have a hard time feeling sorry for that industry.
:

We'll and i hate to sound harsh..But because that industry has made some much money in the last few years that we the people who are working our tails off are what???
That we should just suck it up and get laid off? That we are any less worthey of employment than you?That because these companies pulled in billions of dollars that we are all loaded?We'll i am hating to bring it to everyone but I am just like every other working person out there. I went to University, i have student loans and mortgage payments. I have kids to raise. And i literally work my ass off up here but yet this province seems to have the mentality that "all those guys up north make to much money"
We'll i hate to purpose this but what is ALBERTA gonna do if the oil stops? What do we have going for us? We'll its not farming,or forestry and the coal was gone long ago. So what is it here? If you don't have the oil this province is a bust.
Yes don't get me wrong they can clean up some of the damage they are doing. But if it isn't for the oil companies keeping this province rolling jobs would be even far and fewer between than what they are now.

[Slick Fork]

Not saying you're less worthy of employment then anybody else, I feel bad for anybody who's been laid off or who's job is on the line. I've been there and it sucks.

What I have trouble with though, is the oil and gas industry in general screaming about how tough they have it when a few years ago they would've been thrilled with the money per barrel they're getting now. Especially when the cost to fuel up my truck hasn't gone down with the price of oil. Oil and Gas spent the last few years running roughshod over the province not giving a rats ass about the people who's land and lives they were rolling over and now they expect us to feel badly for them when the price of oil drops to more realistic levels.

I'm not so naive to believe that we can do without oil anytime soon, but I'm not going to say I'm sorry to see it slow down a little. And I do mean that with the utmost sympathy for anybody who loses a job over it.