Quote:
Originally Posted by Sundancefisher
It is amazing who actually gets canned in a recession. When you look at all the spin off jobs from oil and gas activity you can be amazed.
When Alberta removes the oil and gas revenues from the coffers... how does that impact you?
When small town Alberta stops seeing the inflow of capital...how does that affect you?
When Alberta's tax base shrinks dramatically due to lower oil and gas revenues for companies paying taxes to layoffs and reduced tax base.
When money stops flowing...everyone get hurt. If you are looking to retire and move...you had best have you house for sale now. It will come down soon and your nest egg could follow.
A lot of other industries support the oil and gas industry. Many jobs falls like a bad game of dominos.
All I can say is once everyone says we are doomed is when we see the bottom and it goes back up. While some still say it will be getting better soon...you know there is still play in the market.
For those that are smiling...curious to see what you do for a living... It would be interesting to see if it could be impacted. Hopefully for your sake it is not. In which case having a job and money in a collapsing economy can mean screaming deals...even though you need to remember it is on the back of someone elses loss.
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I'm in construction. I honestly expect to lose my job withing the next 12 months.
I agree with you, most people don't realise how much they will be affected.
There was a thread here a while back, all sorts of people saying that they were safe. One that sticks to mind was a body mechanic saying that people would still be denting their trucks. Yeah, but who pays for a dent repair when the choice is that or food?