[fargineyesore]

Originally Posted by avb3

We agree... On the valuations and not to derail.

The issue is multi faceted, as complex issues usually are. Boom and bust resource economies, which we are, will always result in those that think they have it made and the boom is never ending, and getting a wake up call.

Our government, which for decades has preached diversity in our economy, still is largely dependent on revenue flows from the oil sector. One of the things that seems to exasperate diversity in that economy is the high wages that are paid during the boom cycle in the oil patch.

This correction, will hurt those who have chosen not to get an education during or after high school, but went out made the big money, bought the expensive toys, and thought they were on a ride that would never end. Unfortunately, it will also hurt some tradesman who are in their late twenties to mid thirties, and may not have the senority to whether way off. They got their education, and have not necessarily had enough time to build up reserves. Those I feel sorry for, as they are establishing their families and their lives. If they did not over extend themselves over the past five six or seven years, they will do fine. If, on the other hand, however they bought into the "necessity" to have the latest and greatest bought on credit, they too will be badly hurt. How sorry should we feel for them under those circumstances?

Yeah right, like no Engineers, Geologists, or Environmental types will be laid off, just those that didn't get an education in or after high school.