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Email this11:14 am
December 12, 2009
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Thanks, @Vatox, for putting 1 million jobs in the context of a three year timeframe. That's just the start. With 6 million people having applied for CERB, another 2 million having applied for EI, and a likely further 6 million yet to apply for the CERB, not counting any further loosening of restrictions, that's 14 million people out of work. That's probably 70-80% of the labour force and 40% of the population.
Cheers,
Doug
12:45 pm
February 27, 2018
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millions of jobs lost and the stock markets tick higher?
Canadian (Alberta WCS) oil drops below $4 a barrel and the Canadian dollar moves higher, above 71.4 cents?
my nose runs and my feet smell.
this world is completely upside down.
2:20 pm
December 12, 2009
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Kidd said
millions of jobs lost and the stock markets tick higher?Canadian (Alberta WCS) oil drops below $4 a barrel and the Canadian dollar moves higher, above 71.4 cents?
my nose runs and my feet smell.
this world is completely upside down.
The market's trading on a half a wing and a very large prayer right now.
A second day of reckoning is upon us soon, as the market trends higher toward massive resistance levels. 
Speaking fundamentally, just wait until mid to late April when companies report Q1 earnings and we get the April jobs and GDP reports that show Canada's GDP declined greater than 60% in Q1 and its labour force unemployment topped 50%.
Cheers,
Doug
2:22 pm
March 30, 2017
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right now govt is paying the salary for almost everyone and stock market just said great, back to normal..... Some thing not adding up..... Not buying stock mkt at current level for sure...
2:35 pm
October 29, 2017
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savemoresaveoften said
right now govt is paying the salary for almost everyone and stock market just said great, back to normal..... Some thing not adding up..... Not buying stock mkt at current level for sure...
That’s part of it, but also many are buying back in at this discount. It’s the eye of the storm and we are in for more losses to come. When April job numbers come out, I’m sure it will continue down, probably long before that.
4:55 pm
January 3, 2013
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I am buying $150 worth of ETFs everyday weekdays 😀 Don't laugh at me. I started about a month ago and we will see what happens by the end of the year.
This crisis shall pass too 🙂
6:33 pm
October 29, 2017
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Save2Retire@55 said
I am buying $150 worth of ETFs everyday weekdays 😀 Don't laugh at me. I started about a month ago and we will see what happens by the end of the year.This crisis shall pass too 🙂
Averaging down is a fine strategy, but in this particular situation, things will definitely get worse. I would wait a bit longer before starting to buy up the bargains, I’d say the Dow at 18,000 is a good starting point.
6:52 pm
January 3, 2013
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It is okay. It will be a roller coaster up and down. I bought DOW when it was 23500 watching and buying it going down to 18500 and still watching and buying while it is at the same 23500. I am sure it will go down to 18000 again. I am luckily (or not) not retiring anytime soon so can wait years and see it grows again. Def not looking to be rich or make tens of thousands of dollars. Small amounts hoping for the best.
75% are GICs. 10% cash and I am planning to play with 15%. Wish me luck 🙂
7:17 pm
February 20, 2018
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So Vatox ur betting against the fed who added another 2.3trillion today over 4trillion now in stimulus n lending capacity. Powell indicated he'd do more. That was the lesson from 09 that investors who missed the bottom this time around that the fed could n would clean up the mess. I hope ur right the speculators n some bilionaires will be wiped clean n FIs stay safe.
"Federal Chairman Jerome Powell said the U.S. central bank was committed to using all its powers “forcefully, pro-actively, and aggressively” to help the country recover from the devastating coronavirus pandemic, even as he laid out the boundaries to that authority."
"During a question and answer session that followed, Powell said there was “no limit” to the dollar amounts the Fed can deploy if a program fell within its legal authority."
12:12 am
October 29, 2017
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The problem with this particular situation, is that no amount of stimulus or QE will solve the problem. Printing money, negative interest rates, paying people’s wages, none of that will bring back economic activity. The only things that will correct the situation are clearing the population of this damn virus or developing a vaccine. The vaccine is at least 18 months out and that’s a long haul to continue with current conditions. The social distancing, business closures and event cancelations are only meant to help flatten the curve so that the healthcare system isn’t overrun and will only slow the spread. The virus is everywhere now, so it is going to survive this summer’s uv light and will just pickup again in the Fall.
Unless mother nature pulls some miracle, and rids us of this virus, we are in for more of the past month’s fallout until the vaccine is ready.
3:34 am
August 10, 2018
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The virus is only the pin that pricked the bigger problem. Governments everywhere are drowning in debt. That is the bubble that has burst. Reinflating that bubble is not possible. Convert your holdings to tangible assets. Gold and silver will survive.
5:17 am
March 30, 2017
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Bruford said
The virus is only the pin that pricked the bigger problem. Governments everywhere are drowning in debt. That is the bubble that has burst. Reinflating that bubble is not possible. Convert your holdings to tangible assets. Gold and silver will survive.
As long as every government is drowning in debt and is indeed, that becomes the norm and will be fine (As in no country got singled out and will be financially attacked by others like the Asian financial crisis).
As to those who believe market should be at the peak again since Fed is pumping 6T and counting, unlimited money cant kill virus, it can only keep the financial system moving and not stall/collapse. Money only works if you believe every body gets paid by the government, stay home and go non stop internet shopping and buying stocks online. Look at when was the last time you had to refill your car, for me it has been a month and tank still half fill....
6:06 am
August 10, 2018
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The Government debt bubble is only the big one, all bubbles are bursting. Corporation debt (borrowed for expansion) cannot be serviced as many have nothing coming in. Mortgage debt cannot be serviced as many have no income. Rents are not being paid, bills are not being paid, and multiplier effects are forcing a lot of other payments to be missed. Many sectors of the economy and virtually dead. (witness travel, tourism, restaurants, sports, and on and on) The corona virus is only the initial domino, but many other dominos will also fall.
Get your Gold/Silver NOW while you still can.
7:28 am
February 27, 2018
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Bruford.
i have never been a believer in gold. if you look at the reasons why you say we should all buy gold, those are the same reasons why not to buy gold.
everyone is in debt, we all have no money. then who do you sell your gold to?
gold isn't a practical commodity. do you have physical possession of it? do you shave it down with a sharp knife to buy something? a nice watch is more tradable. better yet... in the days to come, we will just take what we want. dog eat dog, dog eat dog. instead of gold, get yourself a weapon
7:47 am
August 10, 2018
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Gold and silver has and will always be a store of value. Fiat currencies come and go, gold stands the test of time. Whatever is the prevailing acceptable trading unit of the day, be it fiat currency, government backed bit currency, or even barter, people will always accept gold and silver in exchange. Why? Cause they know it is widely accepted as having value.
I would purchase a weapon, but our unenlightened liberal government has ensured that the only ones allowed to have them are government backed entities. (police, military) Unfortunately, when society breaks down, the police will not be there to protect you.
Look around you, hungry people can do desperate things.
8:32 am
April 6, 2013
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It is a misconception that gold and silver are stores of value. Their values are supported by the central banks of the world, just like the currencies.
I remember a time when gold was under US$400, before the central banks agreed to limit their gold sales. Gold producing countries had complained that gold prices were being suppressed by those sales.
Central banks heard the complaints and signed accords to limit their annual gold sales.
Hungry people won't be clamouring for gold, silver, or bitcoin. They will be going for food, drinkable water, shelter, weapons, and medicine.
8:46 am
October 22, 2015
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Bruford said
Gold and silver has and will always be a store of value. Fiat currencies come and go, gold stands the test of time. Whatever is the prevailing acceptable trading unit of the day, be it fiat currency, government backed bit currency, or even barter, people will always accept gold and silver in exchange. Why? Cause they know it is widely accepted as having value.I would purchase a weapon, but our unenlightened liberal government has ensured that the only ones allowed to have them are government backed entities. (police, military) Unfortunately, when society breaks down, the police will not be there to protect you.
Look around you, hungry people can do desperate things.
You can absolutely get a firearm, they are not limited to law enforcement. I am a competitive sport shooter and have many. You must have no criminal record, take the PAL course, have extensive background checks by the RCMP and you will receive a license. Once that license has been received you can purchase a firearm. Your name will be run through CPIC every single day after that and storage and transportation rules are very strict.
https://firearmscanada.com/resources/obtain-firearms-license-canada/
8:59 am
August 10, 2018
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fabafter50 said
You can absolutely get a firearm, they are not limited to law enforcement. I am a competitive sport shooter and have many. You must have no criminal record, take the PAL course, have extensive background checks by the RCMP and you will receive a license. Once that license has been received you can purchase a firearm. Your name will be run through CPIC every single day after that and storage and transportation rules are very strict.
https://firearmscanada.com/resources/obtain-firearms-license-canada/
LOL, sorry, I stand corrected. I should have said, unless the government does a thoroughly intrusive rectal examination (repeated daily) you are not allowed to own a gun.
9:03 am
October 22, 2015
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Bruford said
LOL, sorry, I stand corrected. I should have said, unless the government does a thoroughly intrusive rectal examination (repeated daily) you are not allowed to own a gun.
You are spot on about that. LOL Probably for the better though.
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