Bank of Canada Rate Decision December 2021 | General financial discussion | Discussion forum

Vatox said

Thanks Dean, but let’s stay away from individual citizen choices and focus on what can be done with the mechanisms available.
  

Unfortunately, some citizens choices are throwing wrenches in the mechanisms available.

Dean

I don't believe .25 rate increase will do anything rates need to be raised in .5 increments, which I believe the US feds will do early next year and have said 3 rate increases are coming

AltaRed said
Just starting a trend has some psychological effect. A simple 25bp doubles the cost of short term paper but only moves variable mortgage rates 10-20% or so. A few of those in succession will get attention.  

This seems to be true.

I am just reading The Tipping Point by Malcolm Gladwell. It's one of his older books, and I think those are generally better. Discusses what gives trends legs. I am not very far into it yet but seems worth thinking about.

Most recently we have seen governments and media give the impression that covid was almost over. I believe Ontario Premier Ford intended to be done with it by about March after following various predicted steps. Then people believed them because they wanted to. in my view, there has never been the evidence to support this. It was all wishful thinking. And now look at us.
People will run with the message they've been waiting for.

Loonie said

This seems to be true.

I am just reading The Tipping Point by Malcolm Gladwell. It's one of his older books, and I think those are generally better. Discusses what gives trends legs. I am not very far into it yet but seems worth thinking about.

Most recently we have seen governments and media give the impression that covid was almost over. I believe Ontario Premier Ford intended to be done with it by about March after following various predicted steps. Then people believed them because they wanted to. in my view, there has never been the evidence to support this. It was all wishful thinking. And now look at us.
People will run with the message they've been waiting for.  

In economic terms, it just might still be over. As long as the boosters are rolled out and ICUs can cope. Anything’s possible, of course, but I doubt we would be shutting down the economy again.

Businesses don't need to wait for the lockdown order from the government. They can lock themselves down right now.

The National interviewed one restaurant owner who did just that. The consequences of a breakthrough Omicron infection for her and her staff are just too high.

The owner said she looks after her elderly mother. She doesn't have a backup should she catch Omicron and has to self isolate for two weeks from her mother.

One of her staff is a single mother of a three year old who cannot be vaccinated yet. Should the mother catch Omicron and has to self isolate from her three year old for two weeks, there isn't a partner to look after the child.

My thinkings are Ford will avoid another full scale mandatory lockdown unless it is clear ICU will be overwhelmed and lockdown is the only "possible" way out. With vaccinations esp the young on the climb, I certainly hope that scenario will not materialize. The economic cost of the lockdown is just too huge to justify each time its needed.
On the bright side, if it is indeed confirmed that while omicron is 70 times more infectious, as long as those infected (esp fully vaccinated) are mostly mild symptoms, it will speed up the global herd immunity. Looking back, it makes me more amazing that SARS rose and dead in such a spectacular fashion ! Too bad covid is a different animal.
Lets stay safe and reduce exposure to crowded places, etc.