Recession??????
- Thread starter Bigdaug
- Start date
What is worrisome is that private lenders are lending money to people, who were declined by the major banks, to buy houses.
On the other hand, I see all these freaking cranes.
"Mar 29, 2019 - Toronto is North America’s fourth-largest city, but it’s tops when it comes to the number of cranes soaring high above its rapidly changing urban centre. There are 104 cranes set up in Toronto’s core, according to construction consultancy Rider Levett Bucknall’s latest Crane ..."
I'm not talking about cranes or a housing bubble. Job losses, slowdown in sales or business closing down.
My company has been booming for the last ten years couldn't keep up with orders, record profits. This October we have like one day production for the month.
Yield curve has inverted which has been the recession indicator for the last 50 years.
Is anyone else seeing slowdowns at work?
There's a lot of people here from all over Ontario who work in different fields. Good to place to ask I would think.
No slowdown or job losses in the construction industry and their feeder companies. Ever tried to hire a roofer to fix your leaking roof?
Are you in the brick and mortar retail business or in the print news business?
I work in the steel industry.
Construction is still booming I'm reading and hearing retail, service and automotive are taking a hit.
Apparently lots of business are closing down in Toronto. I'm not sure I don't live in Toronto so wouldn't know first hand.
Same for me. Construction and related Consultancy is booming. Become a tradesman and don't worry about your job.
Canada is so far behind on its Infrastructure development... You could work in that field until you die and not even need to bother with the other booming aspects of Construction.
Canada is so far behind on its Infrastructure development... You could work in that field until you die and not even need to bother with the other booming aspects of Construction.
The shelf life of many tradespeople is fairly short. The trick is to build a business when you are still young. Then hire other people to do the actual work.
I called this roofer last year. He came over, assess the problem and gave me a price. Then an actual roofer showed up. He said the boss has a list of workers he calls when there is a job. Once the job was finished, the boss came by in his van and collected the cheque.
There is currently a dip towards a recession worldwide though Canada has been slipping slower than much of the rest of the world.
If people want to make this political, it seems our current government's economic policy has been pretty successful.
If people want to make this political, it seems our current government's economic policy has been pretty successful.
Canadians have been addicted to debt for most of this century and the banks have greased the wheels. No one wants to live within their means anymore.
I could walk into my home branch, ask for a loan to buy a Maserati Levante and they wouldn't even blink.
That's part of the problem, here's the other that's going make the coming recession a hard grind. I encourage all to read it.
https://www.investopedia.com/articles/personal-finance/030915/why-deflation-bad-economy.asp
I could walk into my home branch, ask for a loan to buy a Maserati Levante and they wouldn't even blink.
That's part of the problem, here's the other that's going make the coming recession a hard grind. I encourage all to read it.
https://www.investopedia.com/articles/personal-finance/030915/why-deflation-bad-economy.asp
couldn't agree more. i believe its worse then ever re this yolo movement (promoted by the corporations and of course social media).
I thought it was going to hit a few years ago but this economy has 9 lives. Maybe all the Trudeau c spending has kept us floating.
Congrats to President Jimmy Carter who turned 95 to-day.
He is best remember for losing Iran and causing the deepest recession in the history of the U.S.
"Carter took office during a period of "stagflation", as the economy experienced a combination of high inflation and slow economic growth. ... Despite Carter's policies, the country was beset by an energy crisis in 1979, which was followed by a recession in 1980."
To be fair to President Carter, the genesis of the recession actually was caused by another Democrat president (LBJ) who financed the Vietnam war with printed money instead of raising taxes.
He is best remember for losing Iran and causing the deepest recession in the history of the U.S.
"Carter took office during a period of "stagflation", as the economy experienced a combination of high inflation and slow economic growth. ... Despite Carter's policies, the country was beset by an energy crisis in 1979, which was followed by a recession in 1980."
To be fair to President Carter, the genesis of the recession actually was caused by another Democrat president (LBJ) who financed the Vietnam war with printed money instead of raising taxes.
