/biz/ - Business & Finance

[Anonymous No.877941]

>Canada officially announces recession


http://news.yahoo.com/canada-officially-recession-first-half-2015-131114485.html;_ylt=AwrC1ClGpOVVGS0A6AzQtDMD;_ylu=X3oDMTBybGY3bmpvBGNvbG8DYmYxBHBvcwMyBHZ0aWQDBHNlYwNzcg--

So, how will this ripple to world economies? There's talk of a 1000 layoffs in Calgary alone today. Also, dow jones is down 400+.

[Anonymous No.877944]

well I think we can agree we can continue to be bearish about oil since they're going to be pumping like a motherfucker to get some sort of cashflow going.

[Anonymous No.877956]

Fuck

What do?

I-it should stabilize s-soon r-right?

[Anonymous No.877961]

>>877956
Enjoy the wild ride nigga

[Anonymous No.877965]

>>877961
i want off the ride, please.

Anyway I'm not all that scared tbh fam, "recessions" in Canada only last like a year or two at most. And are very minor compared to the rest of the world.

Canada is like the least affected country economically, except for le oil, but we don't even produce anything anyway. Tbh not even sure how we have any sort of gdp tbh fam

[Anonymous No.877974]

>>877965
You may have a better understanding of Canada's economy, but the article says

>"It is Canada's second recession in seven years and it is the only Group of Seven nation in economic retreat. The figures are the weakest since the 2008 global financial crisis."

And

>"The data reflects fears about the health of the global economy as more gloomy evidence emerged of a slowdown in China, a main engine of growth worldwide."

At least from the article, it seems a little worse then "just the norm".

[Anonymous No.877977]

>>877965
i'm scared fam, i got a degree in chemical engineering last year and this has fucked me over completely

[Anonymous No.877985]

>>877977
lol i feel ya bruh.

It might get better right about when I graduate tho.

>Tfw my RESP money is in the fucking shitter because of all this commotion

>>877974
Hmm that's true I suppose.

Fuck it all fam i'm just gonna stay positive, it might still get better. I believe

[Anonymous No.877997]

Awesome. Recessions are where smart people get rich and poor people go broke.

[Anonymous No.878002]

>>877941

This is excellent news.

Hopefully, the real estate market crashes and burns pulling down all of the tards that have been claiming that "real estate always goes up" and fucking wipes out the middle class.

[Anonymous No.878005]

>>878002
>Hopefully, the real estate market crashes and burns pulling down all of the tards that have been claiming that "real estate always goes up" and fucking wipes out the middle class.

I really hope this too fam.

I want to finally laugh in the face of Real Estate agent friends and remember when they kept saying how "great of an investment real-estate is" and how it "always beats le market by a landslide blahblahblah"

[Anonymous No.878008]

>>878005

Even though I work in a business that supplies real estate and trades, I really want to laugh in the face of morons, the Italians, the Pollaks and the stupid Arabs who all thought they were so fucking clever taking on mortgages of 600-800,000 and up, and the dipshits "flipping" homes.

Fellow Garth Turner subscriber I take it?

[Anonymous No.878022]

>>878008
>Fellow Garth Turner subscriber I take it?

Never heard of him.

I just noticed that most goyim think rent is "throwing money into the trash" and owning a home is "big bux, it always goes up! if i bought in 1965 i'd have 5 million right now!". So I figured if most people are doing something, there's gotta be a catch if it's so easy.

That and when I tried to argue with my friends who either have houses or are real estate agents, they always just repeat "it always goes up you'll be rich in no time", ignoring what I ask them about opportunity cost and being tied down to one place and all that jazz.

[Anonymous No.878036]

>>878005
>>878008
Real estate does beat the market when it's going up, but it still follows the market's trend. Buying real estate isn't ideal right now, but when the market bottoms out at the end of the year every house on the market will be on sale.

[Anonymous No.878039]

>>878022

He's a former MP that runs a pretty cool blog that trashes the real estate and house horny millenials and their parents.

Greaterfool.ca

>That and when I tried to argue with my friends who either have houses or are real estate agents, they always just repeat "it always goes up you'll be rich in no time", ignoring what I ask them about opportunity cost and being tied down to one place and all that jazz.

I figure that real estate is appropriate for the mid-range of IQs. People who are not really savvy enough to get into financial instruments are become timid after losing money after buying one stock, which is what most retail investors do.

So I say a house for a lot of people is good because at least it gets them putting money away as equity, but they would reap much greater rewards with that money in a tax-sheltered TFSA invested in a mix of stocks and bonds returning 7% a year, and completely tax-free....

Problem right now with the above model is that people are assuming so much debt, in an environment when interest rates are almost 0, which means they will inevitably rise, and their real estate will inevitably decline, which means their mortgages are going to be worth more than the property at some point - negative equity.

This will wipe out trillions of dollars and basically destroy the retirement prospects of people with their house as their only retirement exit strategy.

And the retarded governments have been doing everything to make the situation worse.

[Anonymous No.878040]

>>878022
Buying a house it self isn't retarded, buying a house and not renting it out is though

[Anonymous No.878043]

>>878039
Ah true I'll check out the blog, sounds like my type of guy.

But yeah fam, I tried to redpill my parents on personal finance but ... It's not going all that well. I mean I probably don't blame them since I'm certainly not what one would call "successful" at this point, but I do try to give a lot of logical advice, that makes perfect sense if you write it all out.

O well. Maybe some goyim need to just get crushed when they can't even retire for them to learn.

I just always assume people who are older than me would naturally be more intelligent about their personal finance, but a lot of them really don't know anything.

[Anonymous No.878065]

>>877974
To be fair Canada is certainly the most dependant on oil prices of the G7, I'd like to know how Norway is fairing

[Anonymous No.878075]

>>878039
Turners words aren't really that wise or thought provoking.
All the smart people have known that Canada has a housing bubble for many years now.

I think what makes turner truly sound like a fool is him trying to predict when its going to happen and then moving the goal posts when it doesn't.

[Anonymous No.878145]

Kind of offtopic but where is the best place to live in Canada tho

Toronto is way too shit nowadays, too population dense with smelly Indians and Sri Lankans.

Hongcouver is like mainland China.

Kind of sucks how if you are interested in Business and shekelmaking that Toronto and Hongcouver are your only real options.

[Anonymous No.878158]

>>878145
Montreal or Vancouver. My friend lives in Victoria so I might eventually move there but it's comparable to Maine according to her.

[Anonymous No.878167]

>>878158
>Montreal or Vancouver

I've heard people say Montreal isn't all that good career-wise.

Hongcouver is literally over 50% Chinese population.

[Anonymous No.878208]

>>877941
You are all officially retarded if you believe this shmita copypasta nonsense from /pol/

This isn't a crisis, but even so the Fed will back the market during a crisis.

These market movements are healthy and actually represent our global economy returning to normalcy.

Don't be a simple fearmongering retard.

Short the highs and buy the lows. Get rich.

DOW 20,000+ by january

[Anonymous No.878212]

>>878208
>DOW 20,000+ by january
>You are all officially retarded

[Anonymous No.878250]

>>878002
Hope you can eat your money, the middle class brings stability, when 99% of the country won't be able to eat they'll knock down your door and eat yours

[Anonymous No.878252]

>only a recession

depression WHEN?

[Anonymous No.878258]

>>878039
>>878075
>"Anyway, what does a recession mean to us wage slaves and house-snorflers?"

Anyone who is GIVING financial advice while referring to himself as a "wage slave" is probably not a reliable source. Thought that I might have found a good site for a second. Not a "wage slave", GTH.

[Anonymous No.878268]

>>877941
>USD collapses
That pasta is hilarious.

[Anonymous No.878416]

>>878036

I disagree. Buying real estate is GREAT right now if you know where to get the deals.

I just closed on another rental property. Cost me $11,500 + fees. It's a duplex, so I can charge $500 a month twice for rent. Should have no problem renting it. Rent will be much more than mortgage payments.

I should have everything paid off within two years if I wanted to do so. I'll probably spend $1-2k getting it ready for living.

Cheap housing is recession proof.

[Anonymous No.878433]

Who's next? Australia or UK?

[Anonymous No.878469]

>>878433
Australia m8. We're way too integrated with the Chinks

[Anonymous No.878483]

>>877941
>So, how will this ripple to world economies?
what could a rustle in america's hat do?

[Anonymous No.878504]

>>877941
It's a technical recession and the layoffs are all in oilfield companies. Their entire situation can be explained by the drop in oil prices.

As their primarily suppliers not consumers I doubt it will have much of an effect on anyone but them. Demand has simply dropped for some of what they supply.

[Anonymous No.878525]

>>877941
Say it with me
>short S&P with everything you've got.

[Anonymous No.878532]

>>878504
>As their primarily suppliers not consumers I doubt it will have much of an effect on anyone but them. Demand has simply dropped for some of what they supply.
If canada is anything like my country (Australia) where mining supplies 2/3rds of the money we have to spend and this is redistributed around to everyone via muh programs, then a drop in mining profits literally means the economy grinds to a halt.

[Anonymous No.878534]

>>878532

Canada is only going to start feeling the pain in a few months.

[Anonymous No.878545]

>>878534
Ofc. Govt. doesn't mind footing the bill for a while with savings/borrowing but it is a strategy that can't go on forever.

[Anonymous No.878558]

>>877941
This is fantastic news.

I bought US dollars with my Canadian during the 1.08 to 1.27 range as I could. Here's hoping for a 1.60 value after the next election.

Fantastic to see that /biz/ was right.

[Anonymous No.880119]

>>878208
>he thinks ifs the fed and the bond market is holding the economy back
The entire fucking global market is fucked you ediot; its overvalued and about to be corrected, were no country will be able to rely economically to one another through consumer trade.

[Anonymous No.880121]

>>878433
Fucking straya cunt

[Anonymous No.880125]

>>878558

Same.

Bought USD with all of my CAD savings and I'm hoping the loonie goes into the toilet even deeper when the US Fed raises rates either this month or October.

[Anonymous No.880144]

>>878532
>>878504
There's downturns in a lot of sectors. Oil being the biggest. Manufacturing being another big one. They should be booming with low interest rates and a low dollar; Yet they aren't.

[Anonymous No.880154]

>>878065
http://mobile.reuters.com/article/idUSL5N11918F20150903

Close to recession

[Anonymous No.880203]

>>878208

At least one sane person here.

Obama and Yellen won't allow any major crisis to happen. Obama administration saved America from the recession, no doubt they will take care of Canadian economy too, if things will get out of control.

No happening is going to happen, and yes, anyone who listens and believes to /pol shit is clinically retarded. They were like 99.9% wrong on all their "happening" predictions. If you would bet real cash on them you'd be broke.
This "shemita" nonsense is just pathetic in it's absurdity.

[Anonymous No.880261]

>>877941

>Canada officially announces recession

That is what happens when you base your economy off oil.

>in other news, my syrup stock has tanked

FUCK!!!