All these increase in wages won’t make a difference since the cost of living is going up, so when that $10/hour minimum wage comes…we won’t really feel the “bigger load” in our pockets lol.
true,all i can say is buying car stuff/anything else from the US is a bitch right now with the exchange rate,i hate that
The exchange rate is ridiculous :shock:
^^ 77 cents…I think the CND dollar will go back to par in mid-late summer.
Real Estate wise, this Aug. will be the peak of the recessions. Or should I say the low point of the recession. For real estate, its up hill from there, but it won’t be a quick bounce back by any means.
If you’ve got spare money, good credit, and job security, invest in real estate b/w Aug and Oct. Prices will be extremely low as people try to sell housing and spare property (cottages) b/c they need liquid cash, not hard to liquidate assets. Buy the real estate low, ride out the recession, may be a few years, then sell… The turn around will be more than worth it.
Talked about the recession in class a while ago as well (Hon. Econ major) and there’s no chance the recession will get as bad as the great depression. One of the major reasons the G.D. got so bad was b/c the American govn’t sat with their thumbs up there ass for the longest time b/c they believed that the problem would cure itself. By the time they realized it wouldn’t, it was far too late. If Obama’s efforts are any reflection that they want it over, I ‘personally’ feel it won’t get anywhere near as bad as the G.D… Hell, even the Canadian govn’t is trying to fix the problem.
Purely opinion though… who really knows?
Realistically… Canada will not get any worse than it is now… if the US keeps getting worse and worse… we will just keep building their debt to us… Canada is the one country in N/A that can support itself… we have almost all the great lakes in our area… we have oodles of oil that were not even harvesting yet and we produce the highest amount of renewable energy in N/A so much so we sell to the US and buy back… Canada is a depression proof country… sure we may not be the best country in the world… but realistically we can not go into a depression again… the only thing that will happen is the Auto Industry may come to a hault and people will lose jobs but when the factorys reopen or Honda and Nissan make more manufacturing plants here (which they plan to do eventually) all those jobs will be restored. I give it 3-5 years until we are back to where we were at if not in a better position.
Extremely incorrect. The only reason we seem independent and completely self sustainable is cause we have lower unemployment than the states, a ridiculous amount of natural resources and a strong industrial and manufacturing sector. While those are all very good things it doesnt make us self-sustaining. Without America buying all the cars that we make and all the fresh water we have we’d hit the poor house instantly and Canada’s infrastructure would fail. We’d have no Michigan to send our garbage too and no detroit to employ our engineers we’d be in deep deep shit. Very few if any, first world countries are self sustaining.