oldblueeyez 15475 Report post Posted January 24, 2015 Ha ha, maybe I have too much spare time on my hands and read too much bullshit, but coincidence or not low oil prices are sure as hell hurting Russia, which couldn't be better timing considering the economic war being waged against it. Speaking of hard-hit Russians, while they had once overrun Pattaya, they're now fleeing because they can't afford to party hardy (and party hardy they did....no nationality has as nasty a reputation in Thailand now as Russians) anymore given the shitty currency exchange, which means it may soon be a good time to buy some condos in the most infamous sex destination in the world. As far as I'm concerned, you can't lose betting on sex! :D As for Canadians hit hard, I don't feel sorry for anybody who wasted their riches. I saw monster, pimped $100,000 pickup trucks (compensating, were we boys?) with Alberta license plates occasionally visiting Nova Scotia and just shook my head. The smart folks were banking (or investing) their earnings, not flaunting it. Also, there are lots of guys paying huge child/spouse support based on their Alberta incomes; if they lose these high-paying jobs, these support payments are going to bankrupt them (family courts are pretty slow and hesitant to reduce CS/SS payments). Ha ha, and there are going to be some folks who come back from out West to spouses/cohabs who were playing while the cat was away, to find out that they're not welcome at home anymore and get dumped to the curb. That's gonna hurt: here they were sending money back home to support the spouse and maintain the house, only to be hit with a divorce order when the party's over. The economy has a way of balancing itself out, so no real fears for those who are prepared; the wisest live the cheapest and well under their means. A person making $50,000 can have a better balance sheet than somebody making $150,000, as the higher your income, the more you tend to get caught up in all the trappings of "success". I admire my doctor; he drives a decade-old Corolla. A very wise man. Quote Share this post Link to post Share on other sites
henryporter 1836 Report post Posted January 24, 2015 Excellent point. Perhaps one way to counter that problem would be for the govt to invest in Canada both our people and infrastructure. One of the benefits of the recent economic slowing is the drop in interest rates. Our govt can borrow money for 10 years @1.5% or 30 years @ 2.05% I say there turn to pick up the slack. Now there is a really bad idea. This country is still bloated with entitlement and the govt getting deeper in debt really is no solution. The cost of living is high because WE the people created it. Go by a Tim Hortons in the morning and tell me we are bad off or anyone really gives a shit about others who are. When we line up like cattle for 10 minutes to pay 2 bucks for a shitty cup of coffee then then we have too much time and money. How many people are doubling down on their good fortune that oil and gas prices have dropped? How about saving that money (in an account and liquid) as well as cutting out your Tims and other luxuries for a while? Think anyone will? Nope they will buy a vacation on credit which they think that they will pay off with the savings which are already being spent on something else anyway. Then come tax time they will will bitch and moan about how much tax they pay and wait for the refund to pay off most of the crap they bought that they don't need in the first place. Kinda been like that forever I think and its what got us here in the first place. 1 Quote Share this post Link to post Share on other sites
oldblueeyez 15475 Report post Posted January 24, 2015 This country is still bloated with entitlement and the govt getting deeper in debt really is no solution. Canada's not a bad place to earn an income and to reside part-time in, but it's fast becoming a very unfun place to actually live (I can see the politically correct factions eliminating strip joints down the road.....HOW DARE HETEROSEXUAL MEN OBJECTIFY WOMEN AND ENJOY THEMSELVES!??!). From a man's perspective, marriage/cohabitation/kids is just a huge trap in this country. Men can't seem to have any fun here anymore. Everybody seems to get offended and up-in-arms abut basically diddly squat. Canadians need a reality check and should consider themselves lucky they don't live in a 3rd world country, but no we obsess ourselves with our first world "problems". Anyway, I see the MGTOW movement as something quite significant, and part of that movement is giving up on relationships, and even sex, in the west, and focusing abroad to places like Pattaya and Medellin for fun and eventual retirement. There's going to be a huge wave of frustrated men going abroad, and again, I can't see investing in sex destinations as a bad idea. I don't do numbers, but I do do hands-on like rentals and small business. I think I'll be divesting myself a bit of Canada and investing a bit in someplace like Pattaya or Medellin. Can't hurt to broaden one's horizons. Oh, and the lower Canadian dollar would be great for Montreal, as its ladies are world class and the rates very reasonable, but thanks to the new laws, what American in his right mind is going to risk coming to Canada when he could end up with criminal charges just for having consensual fun? Time for a smoke. Quote Share this post Link to post Share on other sites
Ice4fun 78396 Report post Posted January 24, 2015 Reading this thread I am left with the feeling the world must have recently come to an end.... really... we have a resource based economy and these thing will happen. There will be winners and loser in the short run... but Canada will be fine and will do much better than other countries. Just my Opinion Sent from my Passport using Tapatalk 1 Quote Share this post Link to post Share on other sites
henryporter 1836 Report post Posted January 24, 2015 No the world isn't coming to an end... yet. However the chance has come up to have a discussion and hopefully some of us can learn and thats always a good thing. Pistol Pete posted that he bought US dollars when the dollar was closer to parity. Smart move. I would have liked to be in the position to do the same but wasn't. There was no real downside to doing it either. Now the USD is kicking the Euro's ass and Pete may be even better of going to Europe for a little R&R. Paying attention to this type of thing is a good idea and a little discussion can open even the blueeyez. lol Funny thing this morning i was looking at an online copy of The Ottawa Citizen from 1981. Seems you could get around 14 percent interest on some term deposits. How is that possible? (pointing out the high rate of interest at this time) Oh ya things change and paying attention is a good thing. 2 Quote Share this post Link to post Share on other sites
Ice4fun 78396 Report post Posted January 24, 2015 Oh ya things change and paying attention is a good thing. I could not agree more paying attention is crucial... looking for clues as to where the dollar... oil... gold... real estate etc are going and acting on your assessments is a critical to positioning yourself financially not only for the future but also for today. As crucial as paying attention is timing.... this market correction is not unexpected... shale oil production in north America has been having an impact on price for years.... the decision by OPEC to maintain production in the face of a oil glut and falling prices is not a surprise...the Saudis have been clear in stating that they want to maintain their market share. So from an investment perspective if you are reacting now based on the news headlines then you have already missed the greatest opportunity to profit from the correction. In Canada we have a resource based economy so this correction will hurt in certain areas... Alberta and Newfoundland to name two .... in the case of newfoundland where I live it will slow some of the new offshore fields and workers who regularly travel out west for work will find less... the good news is we currently have an acute shortage of these same workers in Newfoundland because of other projects that are ongoing (voisey bay and lower churchill) so the hit will not be as bad as in previous downturns. The government will lose significant revenue but requiring our politicians to manage with a tighter budget is not a bad idea... an easy budget situation seldom makes for good political decisions especial in a political transition situation like now exists in Newfoundland. Canada is not isolated in this cheaper energy environment many of the other oil producing countries will also suffer including OPEC... in fact it is expected that the Saudis will run a budget deficit of about 11% of GDP. Now we watch... we pay attention and we look for that next change...if we anticipate it correctly there is money to be made. Just my Opinion Sent from my Passport using Tapatalk 3 Quote Share this post Link to post Share on other sites
PistolPete 61421 Report post Posted January 24, 2015 Especially dealing with real estate, when the recession hit hard in the USA properties that were foreclosed, were available on the market for next to nothing when our dollar was so strong. That said, with our economy in a little tail spin, forecasters say it won't be a recession, and BOC reducing interests rates, it will affect us short term if we want to travel south, buy a house here. On the flip side the economy in the USA is strong again. I like to pay attention to the markets here in Canada and down in the USA, it does pay off in the long run. 2 Quote Share this post Link to post Share on other sites
henryporter 1836 Report post Posted January 25, 2015 I agree with Ice that as an observer and investor there is money to be made especially if you see such a drastic move in pricing. As Pete said if you pay attention to Canadian and US markets then you can also profit from changes in the markets. Both are giving great advice here for anyone thinking about investments. For everyone else just taking advantage of saving the difference between a $1.25 versus the new $.85 (give or take) at the pump you can probably put away a few bucks for savings or averaging out future price increases. And think a bit about the Burger King... I mean Tim's (or is BK getting the profits now?) sitting their idling your car for the the mediocre overpriced coffee. More savings. And nobody seems to remember but last year at this time wasn't propane and natural gas prices through the roof? Also if you have a Prime plus loan or line of credit I think that is cheaper too. Wonder what my net gain is factoring in all the components? Interesting question. Quote Share this post Link to post Share on other sites
Guest *Ste***cque** Report post Posted January 25, 2015 I don't know when the price of oil will rebound, but neither does anyone else. It could be a year before it starts heading up or it could take longer. It depends on the Saudi's stamina and economic drivers of its consumption. While it could drop lower in price I think it's a safe bet to buy in now, if you have the money and a horizon longer than 5 years. It may also be a good time to get back in to precious metals. Just remember to keep your allocation of each of these assets to 5% or so of your total portfolio and you'll be able to sleep at night. Maybe more if you're comfortable with that. You could make more if you wait for a further drop but timing the markets is a fools game that few are successful at. Quote Share this post Link to post Share on other sites
Johnny Canuck 5347 Report post Posted January 25, 2015 The lower prices have definitely been a big help to me being on the road all the time. Gas prices are almost at a price where you can just drive around for fun! Quote Share this post Link to post Share on other sites
LadiesFirst 848 Report post Posted January 26, 2015 Now there is a really bad idea. This country is still bloated with entitlement and the govt getting deeper in debt really is no solution. The cost of living is high because WE the people created it. Go by a Tim Hortons in the morning and tell me we are bad off or anyone really gives a shit about others who are. When we line up like cattle for 10 minutes to pay 2 bucks for a shitty cup of coffee then then we have too much time and money. How many people are doubling down on their good fortune that oil and gas prices have dropped? How about saving that money (in an account and liquid) as well as cutting out your Tims and other luxuries for a while? Think anyone will? Nope they will buy a vacation on credit which they think that they will pay off with the savings which are already being spent on something else anyway. Then come tax time they will will bitch and moan about how much tax they pay and wait for the refund to pay off most of the crap they bought that they don't need in the first place. Kinda been like that forever I think and its what got us here in the first place. Yeah you are probably right our government is to bloated, from db pensions, wages all indexed and and adjusted for higher prices. Either way I like the ships start here thing. What happens to the economy though if we all stop spending so much in an economy built on spending (I heard around 60% of our economy is consumer spending)? Is a dollar I spend a dollar someone else earns? What would happen if we stop the cattle herding at Timmy's Would we just be creating one at the unemployment line and government will pay anyway? Quote Share this post Link to post Share on other sites
oldblueeyez 15475 Report post Posted January 26, 2015 Yeah you are probably right our government is to bloated, from db pensions, wages all indexed and and adjusted for higher prices. Either way I like the ships start here thing. Why do the Conservatives even call themselves conservatives!? I remember back in the late 90s when Stephen Harper was a yung critic and promoted minimal government (believe it or not, and only my father can tell you this, but back then I said to him, "Harper's going to be PM someday."). Where the frig fcuk is our minimal government?! It's just freakin' growing like a zebra mussel infestation! Quote Share this post Link to post Share on other sites
Ice4fun 78396 Report post Posted January 26, 2015 Be careful you may get the minimal government you are asking for but not like the country you come to live in. Minimal government means for many no universal medical coverage... no national pension plan... no unemployment insurance plan... that is not my Canada... yes the United States has less government but the good thing about Canada is that it is NOT the US. We are a market driven economy that is also a very caring community that is open and diverse. We may complain about the issues we have in Canada but the alternatives we see around the world are in my opinion greatly lacking. Just my Opinion Sent from my Passport using Tapatalk Quote Share this post Link to post Share on other sites
oldblueeyez 15475 Report post Posted January 26, 2015 I get what you're saying, but both of my parents grew up when they had to pay for their healthcare, and they did. And who cares about pensions and retirement? Many people who retire experience a decline in mental and physical health. On the other hand, my grandfather died of a heart attack at 55, ha ha! Okay, so I'm not talking about no government, but hey, do we really need so much freakin' bureaucracy? I know it's a touchy subject on the board right now, but my grandmother died many years later of cancer, and our "free" healthcare made her suffer long and horribly; I don't have to wonder, I know that to have died naturally would have been much better for her. 1 Quote Share this post Link to post Share on other sites
Ice4fun 78396 Report post Posted January 26, 2015 I get what you're saying, but both of my parents grew up when they had to pay for their healthcare, and they did. And who cares about pensions and retirement? Many people who retire experience a decline in mental and physical health. On the other hand, my grandfather died of a heart attack at 55, ha ha! Okay, so I'm not talking about no government, but hey, do we really need so much freakin' bureaucracy? I know it's a touchy subject on the board right now, but my grandmother died many years later of cancer, and our "free" healthcare made her suffer long and horribly; I don't have to wonder, I know that to have died naturally would have been much better for her. For ever example of the ills of free public health care that can be highlighted i am pretty sure there are thousands of examples of were the availability of good public health care has improved the lives of Canadians not just the sick individual but also the family that did not have to suffer financial hardship to look at a loved one who was ill. As for bureaucracy... the real sign of an advanced society is where it actually invests in a bureaucracy that informs and educates the elected leaders and results in amazing government policy. The Canadian Bureaucracy has been gutted by governments that fail to understand long term planning and important public policy development. Most of the disasters that have occurred in the Canadian Bureaucracy have their genesis in stupid political decisions where idiots like Stephen Harper failed to listen to the advise of experts in the public service. Don't believe me think gun registry... think Canadian helicopter purchases.... think advanced fighter purchase... the major fuckups are not public service fuckup they are political stupid decisions. Just my Opinion Sent from my Passport using Tapatalk Quote Share this post Link to post Share on other sites
henryporter 1836 Report post Posted January 27, 2015 Okay boys lets not get too side tracked and start getting on the government to much. You can go on about that stuff and the back and for will be like a world championship ping pong match. I don't think any of the parties or leaders are better suited than the other these days. My reason for participating on this thread is that I do believe that we are to a large degree seeing some real tangible savings that will show up in our pockets due to the decline in the price of oil. Of course anyone that is directly affected by the price drop will beg to differ. Personally I believe that my savings are a couple of hundred a month between gas at the pump and heating oil. Depending on how long that keeps up its a pretty nice amount of money to be putting in my pocket. Put that together with the lowest interest rates we have ever seen post WW2 and we should be a little more optimistic. All that may change if the economy goes for a dump because of the price of oil but for now, so far so good. This is a dynamic situation that will evolve and keep us guessing. As for the future price of a barrel I think that $60 -70 may be the highest we see for a couple of years from all the news I have heard. Any other guesses? 2 Quote Share this post Link to post Share on other sites
oldblueeyez 15475 Report post Posted January 29, 2015 Any other guesses? Taking bets. I say bottoming at $30. Quote Share this post Link to post Share on other sites
