Warhippy Posted March 13, 2020 Author Share Posted March 13, 2020 45 minutes ago, nuckin_futz said: China says work resumption rates vary from 60% to over 95% (ex Hubei) Fri 13 Mar 2020 02:59:28 GMT China vice industry minister says work resumption rate for small and medium-sized firms outside of Hubei is around 60% for larger-scale firms outside of Hubei is over 95% Says will coordinate with other countries' govts to push forward business resumption, reduce the impact of coronavirus pandemic as much as possible They're coming back online! That's great news. Expected another week or two at least. Link to comment Share on other sites More sharing options...
aGENT Posted March 13, 2020 Share Posted March 13, 2020 Temporary layoffs and hour reductions at my office... Thankfully we're pretty well positioned at the moment but good luck out there folks. 1 1 Link to comment Share on other sites More sharing options...
CanuckGAME Posted March 13, 2020 Share Posted March 13, 2020 My wife and I just sold our house last month and have been house hunting every day looking to purchase something.. Guess we will take a step back and watch everything unfold before we get back into the market.. 2 Link to comment Share on other sites More sharing options...
nuckin_futz Posted March 13, 2020 Share Posted March 13, 2020 1 hour ago, CanuckGAME said: My wife and I just sold our house last month and have been house hunting every day looking to purchase something.. Guess we will take a step back and watch everything unfold before we get back into the market.. Interest rates will drop a bit further still. Should be good for you. 1 Link to comment Share on other sites More sharing options...
Boudrias Posted March 14, 2020 Share Posted March 14, 2020 10 hours ago, aGENT said: That certainly might help us... we've just got a load of money sitting in the bank at the moment and we might be able to get a house for a lot less in a month or two. Now whether I have a job to pay the mortgage on it is another question entirely... Get a locked in rate for as long as you can. These low rates will not last. Link to comment Share on other sites More sharing options...
Jester13 Posted March 14, 2020 Share Posted March 14, 2020 8 hours ago, Boudrias said: Get a locked in rate for as long as you can. These low rates will not last. These low rates could go lower still. The problem with this novel virus is that we're likely about to experience a novel recession, with consumer confidence being crushed and the world shutting down so many major parts of the economy. Add this to unsustainable debt levels and we have a recipe for a downturn that is so unpredictable that it may turn into a depression for all we know at this point. From the sounds of it, this isn't a situation like other recessions where governments can bail out industry by throwing billions at them. https://business.financialpost.com/news/economy/recession-feature My wife and I are in a similar situation as you @aGENT. We've been patient up until now with purchasing a home, and it looks like we're going to continue that path for now to see where this goes. 1 Link to comment Share on other sites More sharing options...
Shift-4 Posted March 14, 2020 Share Posted March 14, 2020 1 hour ago, Jester13 said: These low rates could go lower still. The problem with this novel virus is that we're likely about to experience a novel recession, with consumer confidence being crushed and the world shutting down so many major parts of the economy. Add this to unsustainable debt levels and we have a recipe for a downturn that is so unpredictable that it may turn into a depression for all we know at this point. From the sounds of it, this isn't a situation like other recessions where governments can bail out industry by throwing billions at them. https://business.financialpost.com/news/economy/recession-feature Great read! Explains well why fri stock jump will be short lived Link to comment Share on other sites More sharing options...
Boudrias Posted March 14, 2020 Share Posted March 14, 2020 1 hour ago, Jester13 said: These low rates could go lower still. The problem with this novel virus is that we're likely about to experience a novel recession, with consumer confidence being crushed and the world shutting down so many major parts of the economy. Add this to unsustainable debt levels and we have a recipe for a downturn that is so unpredictable that it may turn into a depression for all we know at this point. From the sounds of it, this isn't a situation like other recessions where governments can bail out industry by throwing billions at them. https://business.financialpost.com/news/economy/recession-feature My wife and I are in a similar situation as you @aGENT. We've been patient up until now with purchasing a home, and it looks like we're going to continue that path for now to see where this goes. All you say is true. I say lock in your mortgage because at some point the government options will run out and the real cost of risk will reassert itself. As much as the government thinks they can keep creating money they cannot. It will get very ugly. Link to comment Share on other sites More sharing options...
Warhippy Posted March 14, 2020 Author Share Posted March 14, 2020 3 hours ago, Jester13 said: These low rates could go lower still. The problem with this novel virus is that we're likely about to experience a novel recession, with consumer confidence being crushed and the world shutting down so many major parts of the economy. Add this to unsustainable debt levels and we have a recipe for a downturn that is so unpredictable that it may turn into a depression for all we know at this point. From the sounds of it, this isn't a situation like other recessions where governments can bail out industry by throwing billions at them. https://business.financialpost.com/news/economy/recession-feature My wife and I are in a similar situation as you @aGENT. We've been patient up until now with purchasing a home, and it looks like we're going to continue that path for now to see where this goes. That's a great read and comes close to what I've been pondering for the last 2 or 3 weeks. Prior to Covid really starting I was already of the mind that these internal forces in Canada would be a serious source of issue. but this global force is something nobody can account for at all. I sincerely do think that housing and travel within Canada are going to become far cheaper in the next 6 months. Still bought my lotto last night though. Because nothing says irony like winning $50 million, catching the virus being quarantined and unable to cash your cheque, only to do it and find out that the Canadian dollar is worth about 50 cents USD Link to comment Share on other sites More sharing options...
aGENT Posted March 14, 2020 Share Posted March 14, 2020 1 hour ago, Warhippy said: That's a great read and comes close to what I've been pondering for the last 2 or 3 weeks. Prior to Covid really starting I was already of the mind that these internal forces in Canada would be a serious source of issue. but this global force is something nobody can account for at all. I sincerely do think that housing and travel within Canada are going to become far cheaper in the next 6 months. Still bought my lotto last night though. Because nothing says irony like winning $50 million, catching the virus being quarantined and unable to cash your cheque, only to do it and find out that the Canadian dollar is worth about 50 cents USD Same lol Link to comment Share on other sites More sharing options...
Warhippy Posted March 14, 2020 Author Share Posted March 14, 2020 44 minutes ago, aGENT said: Same lol Wouldn't that just be the greatest. Sitting on $50 million. Stuck inside watching that value plummet to like $18 million anywhere outside of Canada. Still made bank but whomp whomp Link to comment Share on other sites More sharing options...
nuckin_futz Posted March 14, 2020 Share Posted March 14, 2020 (edited) French state mulls cash injection into Air France-KLM Sat 14 Mar 2020 16:25:14 GMT French airline already in need of a bailout France's Los Echos says the government is looking at potentially raising its stake in Air France-KLM to help prop up the airline. The economy minister and CEO discussed ways to support the airline. The government already holds a 14.3% stake. Earlier there was a denial and the company has already laid off 2,000 employees. Yesterday the airline tapped a 1.1B euro facility. Lots of airlines are going to be bailed out in the next few months but the speed of this one is shocking to me. Overall, the scope of bailouts and deficits on this crisis is going to be astronomical. Trump has already mulled bailouts for cruise ships and shale oil. ****************** No one is allowed to fail. Everyone will get a bailout. Count on it. Edited March 14, 2020 by nuckin_futz Link to comment Share on other sites More sharing options...
Warhippy Posted March 14, 2020 Author Share Posted March 14, 2020 38 minutes ago, nuckin_futz said: French state mulls cash injection into Air France-KLM Sat 14 Mar 2020 16:25:14 GMT French airline already in need of a bailout France's Los Echos says the government is looking at potentially raising its stake in Air France-KLM to help prop up the airline. The economy minister and CEO discussed ways to support the airline. The government already holds a 14.3% stake. Earlier there was a denial and the company has already laid off 2,000 employees. Yesterday the airline tapped a 1.1B euro facility. Lots of airlines are going to be bailed out in the next few months but the speed of this one is shocking to me. Overall, the scope of bailouts and deficits on this crisis is going to be astronomical. Trump has already mulled bailouts for cruise ships and shale oil. ****************** No one is allowed to fail. Everyone will get a bailout. Count on it. That's why I am looking at things like Carnival, Boeing etc as safe stocks over the next week. You just know they're going to absolutely come through on the backs of taxpayer bfunded corporate socialism 1 Link to comment Share on other sites More sharing options...
aGENT Posted March 14, 2020 Share Posted March 14, 2020 1 hour ago, Warhippy said: Wouldn't that just be the greatest. Sitting on $50 million. Stuck inside watching that value plummet to like $18 million anywhere outside of Canada. Still made bank but whomp whomp If be fine with it! $18m is still $18 more than I have now! Hell, I'd even be ok splitting the prize with a couple or three people! Link to comment Share on other sites More sharing options...
Warhippy Posted March 15, 2020 Author Share Posted March 15, 2020 5 hours ago, aGENT said: If be fine with it! $18m is still $18 more than I have now! Hell, I'd even be ok splitting the prize with a couple or three people! I buy a ticket and I always say I'd be happy with 2nd or 3rd place honestly 1 Link to comment Share on other sites More sharing options...
NewbieCanuckFan Posted March 15, 2020 Share Posted March 15, 2020 2 hours ago, Warhippy said: I buy a ticket and I always say I'd be happy with 2nd or 3rd place honestly I always get a "participation medal" in the 649. 2 Link to comment Share on other sites More sharing options...
aGENT Posted March 15, 2020 Share Posted March 15, 2020 (edited) 13 hours ago, Warhippy said: I buy a ticket and I always say I'd be happy with 2nd or 3rd place honestly Yup, or I'd gladly take an 'extra' win or a max millions etc. I have no problem still working to some degree if it wasn't enough to outright retire but enough to take the edge off is all you really need. A bit of money to invest, to be able to spend more time with family without worrying about your paycheque etc, maybe a lower stress job in something that feels more like a fun hobby. And now is likely to be a good time for it. I'd gladly take an extra $500k'ish to invest in real estate (or a bit in the stock market) right now! Or hookers and blow... whatever's your thing Edited March 15, 2020 by aGENT Link to comment Share on other sites More sharing options...
Warhippy Posted March 15, 2020 Author Share Posted March 15, 2020 (edited) markets opened on the other side and it looks like a run on currency and commodities all taking a hit at the moment. Futures being beaten down as well https://liveindex.org/futures/ https://liveindex.org/currencies/ https://liveindex.org/commodities/ Yikes Edited March 15, 2020 by Warhippy Link to comment Share on other sites More sharing options...
Warhippy Posted March 16, 2020 Author Share Posted March 16, 2020 The big boys are backtracking on their projections to start the year https://www.cnbc.com/2020/03/14/goldman-thought-economy-was-recession-proof-in-january---it-wasnt.html There's a lot of fear in the banking sector right now in the west Link to comment Share on other sites More sharing options...
nuckin_futz Posted March 16, 2020 Share Posted March 16, 2020 The speed of the collapse of airlines is breathtaking - Italy plans to take over Alitalia Mon 16 Mar 2020 13:03:43 GMT Italy takes over national airline The government already had a stake in the airline. Air France KLM is talking about a bailout. On the weekend, Virgin Atlantic said the UK aviation industry will need 7.5B pounds in a bailout. American Airlines announced it was virtually shutting down long-haul international travel. Airlines don't own planes and the lease payments are still due. It's looking like most global airlines might need bailouts. Overall, that's not entirely surprising but the speed of it is ominous. It argues there are far more systemic risks and bond market risks and deficit risks than anyone is expecting. Link to comment Share on other sites More sharing options...
.thumb.jpg.ed4ffd81393717a7b4296e6fdaac89fa.jpg)
Recommended Posts
Please sign in to comment
You will be able to leave a comment after signing in
Sign In Now