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  #541  
Old 03-11-2020, 10:05 PM
bsmitty27 bsmitty27 is offline
 
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Originally Posted by Deer Hunter View Post
Kenney knows this but needed to make this federal appeal public so that he can take credit for the bailout he will be forced to give to our energy sector. It won't go down without a fight. Alberta without oil is unimaginable to the provincial govt.
Let's hope
If he throws taxpayers money at this he's no better than Trudeau. No tax breaks will make up for the drop in oil price. He could give away everything we have, if the price of oil stays low, we still won't have any jobs.
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  #542  
Old 03-11-2020, 10:18 PM
Deer Hunter Deer Hunter is offline
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If he throws taxpayers money at this he's no better than Trudeau. No tax breaks will make up for the drop in oil price. He could give away everything we have, if the price of oil stays low, we still won't have any jobs.
Alternatively, if oil recovers, it could be the best investment this province has ever made.
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  #543  
Old 03-11-2020, 10:22 PM
bsmitty27 bsmitty27 is offline
 
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Alternatively, if oil recovers, it could be the best investment this province has ever made.
So might putting it all on red, at the yellowhead casino! You do you. But keep your hands off my money!
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  #544  
Old 03-11-2020, 10:31 PM
fishnguy fishnguy is offline
 
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I am with bsmitty there, absolutely 100%. You canít be throwing money you donít have and will really need very soon at a dead horse. If/when oil picks up, if there is money to be made, the money will be made, zero doubt in my mind. If you are going to ask me about what we are going to do in Alberta until then, I have absolutely no clue.
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  #545  
Old 03-11-2020, 10:35 PM
bsmitty27 bsmitty27 is offline
 
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Its scary as hell!
I get it.
But it's a long walk if you gamble away your cab money!
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  #546  
Old 03-11-2020, 10:36 PM
^v^Tinda wolf^v^ ^v^Tinda wolf^v^ is offline
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I wonder if Trudeau is going to give the whole country a two week paid vacation right away. Iíd blame the government considering even the airlines and insurance companies are tapping out but not our government because they still got this pft..
I know the paid part is wishful thinking, surely Canadas wallet wonít have the cash because heís given it all away along with all of our supplies to fight this China Virus.
Maybe we should just consider it a gift for the good oleí western republic of Canada. The Trudeau-5 year virus has been rough on us.
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  #547  
Old 03-11-2020, 11:08 PM
Hadji Ramjet Hadji Ramjet is offline
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Notley's demanding the gov't fund "self-isolation" with no doctor's note. I like it, I was in India over the weekend and will be in Hong Kong early next week. When I get home, I think I should self-isolate for at least 3 months at full pay, good time to finally get that kitchen reno done.
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  #548  
Old 03-11-2020, 11:53 PM
260 Rem 260 Rem is offline
 
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My Conservative side can not agree with subsidizing home stay after choosing to travel in high risk areas. I understand the Gov intends to offer some financial mitigation but just because it is available does not mean risk takers should snuggle up to a teat.
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  #549  
Old 03-12-2020, 12:13 AM
raab raab is offline
 
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Quote:
Originally Posted by Deer Hunter View Post
Kenney knows this but needed to make this federal appeal public so that he can take credit for the bailout he will be forced to give to our energy sector. It won't go down without a fight. Alberta without oil is unimaginable to the provincial govt.
Let's hope
Alberta will be fine once we see a few companies close up shop, and shut in wells/ shut down mines. Weíve been overproducing compared to our capacity for years which has driven Canadian oil prices down.
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  #550  
Old 03-12-2020, 05:55 AM
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Alberta will be fine once we see a few companies close up shop, and shut in wells/ shut down mines. Weíve been overproducing compared to our capacity for years which has driven Canadian oil prices down.
That is the most insane thing I have ever heard, good Lord
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  #551  
Old 03-12-2020, 06:38 AM
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Stock Market.jpg
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  #552  
Old 03-12-2020, 06:45 AM
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Originally Posted by 260 Rem View Post
My Conservative side can not agree with subsidizing home stay after choosing to travel in high risk areas. I understand the Gov intends to offer some financial mitigation but just because it is available does not mean risk takers should snuggle up to a teat.
Hear hear. Have friends who are leaving for southeast Asia for three weeks, with flight restrictions, they might not make it back, taking their 2 kids too--and she's a respiratory nurse!!!! Crazy. Guess I'll know where to go for extra supplies if they dont make it back.
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  #553  
Old 03-12-2020, 07:19 AM
elkhunter11 elkhunter11 is offline
 
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Originally Posted by Justfishin73 View Post
Hear hear. Have friends who are leaving for southeast Asia for three weeks, with flight restrictions, they might not make it back, taking their 2 kids too--and she's a respiratory nurse!!!! Crazy. Guess I'll know where to go for extra supplies if they dont make it back.
The obvious question, is given the current situation, why are they still going?
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  #554  
Old 03-12-2020, 07:25 AM
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The obvious question, is given the current situation, why are they still going?
I donít get it either. I questioned my nephew last week. He just had to go to Cabo and told him to stay away from me when he gets back. He was not happy about my comment. Too bad I say.
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  #555  
Old 03-12-2020, 07:27 AM
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Originally Posted by elkhunter11 View Post
The obvious question, is given the current situation, why are they still going?
They are idiots, always have been. We've distanced ourselves due to their alcoholism, dont need my kids anywhere near that crap. Feel bad for their kids though.
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  #556  
Old 03-12-2020, 07:28 AM
1stLand 1stLand is offline
 
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The obvious question, is given the current situation, why are they still going?
Because our spineless leaders in Ottawa haven't sounded the alarm yet and banned travel or issued traveled warnings.
So the sheeple continue to plan their trips to load up their instagram feed with useless vacation photos in an effort to justify their meaningless lives.
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  #557  
Old 03-12-2020, 07:32 AM
crazy_davey crazy_davey is offline
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They are idiots, always have been. We've distanced ourselves due to their alcoholism, dont need my kids anywhere near that crap. Feel bad for their kids though.
Sound like good ďfriendsĒ...
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  #558  
Old 03-12-2020, 07:35 AM
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More like distanced acquaintances

DOW halted
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  #559  
Old 03-12-2020, 07:47 AM
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That is the most insane thing I have ever heard, good Lord
Itís the supply and demand cycle. This is nothing new. Itíll hurt short term as we adjust. Thereís just been to many companies startup in Alberta, due to pipeline capacity. Good news is a lot of guys have already closed up shop due to getting hammered in 2015.
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  #560  
Old 03-12-2020, 07:49 AM
elkhunter11 elkhunter11 is offline
 
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Originally Posted by Justfishin73 View Post
More like distanced acquaintances

DOW halted
Tsx halted as well. Down over 30% from the recent high
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Last edited by elkhunter11; 03-12-2020 at 08:14 AM.
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  #561  
Old 03-12-2020, 07:53 AM
AndrewM AndrewM is offline
 
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Itís the supply and demand cycle. This is nothing new. Itíll hurt short term as we adjust. Thereís just been to many companies startup in Alberta, due to pipeline capacity. Good news is a lot of guys have already closed up shop due to getting hammered in 2015.
Bankrupt companies is good news? Adding thousands of wells to the orphan well fund is good news? Thousands of people out of jobs is good news? Wow.
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  #562  
Old 03-12-2020, 08:08 AM
raab raab is offline
 
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Bankrupt companies is good news? Adding thousands of wells to the orphan well fund is good news? Thousands of people out of jobs is good news? Wow.
Free markets, as Iíve said this has been happening with oil for a long time. Itís cyclical, and long term oilfield guys know that. Every 6 years usually the cycle hits.
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  #563  
Old 03-12-2020, 08:14 AM
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Free markets, as Iíve said this has been happening with oil for a long time. Itís cyclical, and long term oilfield guys know that. Every 6 years usually the cycle hits.
Long term oilfield guys would say this downturn is much different than the other ones. We don't have the same wells or pools that we used to have. Free markets would mean we have a free market to sell our products which we do not have. This isn't an oil problem, this is a government in the way problem. If you cannot take advantages of high prices due to pipelines being full, you do not get a cycle.
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  #564  
Old 03-12-2020, 08:55 AM
pikeman06 pikeman06 is offline
 
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Originally Posted by elkhunter11 View Post
Tsx halted as well. Down over 30% from the recent high
Yup all the doubters are bailing now too. Stubborn is not a good way to be when it comes to stock markets. There was plenty of time to take a good profit, Sheez gonna go real low. Especially the tsx. Employer Rrsp and pension plan investments are taking a beating too. That's one thing we couldnt withdraw from without taking a tax hit. And I'm scared to look. I woulda pulled out of them too if it was feasible.
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  #565  
Old 03-12-2020, 09:24 AM
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Trochu Trochu is offline
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Ford stock is down 10% so far today. How low will it go. When are people going to become indifferent to the virus is the question.
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  #566  
Old 03-12-2020, 09:25 AM
fishtank fishtank is offline
 
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Default Next domino

Then come the credit squeeze and debt defaults ......
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  #567  
Old 03-12-2020, 09:28 AM
fishtank fishtank is offline
 
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Ford stock is down 10% so far today. How low will it go. When are people going to become indifferent to the virus is the question.
Well i think it will stop once it hits zero ... all bets are off until they find some order itís crazy wild panic . Maybe warren buffet will chime in and blessed a company , crazy timing that jpm ( biggest bank in America)Jamie Dimon is lay out after emergency heart surgery .
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  #568  
Old 03-12-2020, 11:01 AM
elkhunter11 elkhunter11 is offline
 
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Originally Posted by pikeman06 View Post
Yup all the doubters are bailing now too. Stubborn is not a good way to be when it comes to stock markets. There was plenty of time to take a good profit, Sheez gonna go real low. Especially the tsx. Employer Rrsp and pension plan investments are taking a beating too. That's one thing we couldnt withdraw from without taking a tax hit. And I'm scared to look. I woulda pulled out of them too if it was feasible.
My portfolio is all RRSPs and TFSAs, but mine are self directed, l so I can buy and sell, without withdrawing the money from the plans. I avoided my company run supplementary retirement plans for that reason. I sold on the second day of the downswing, so I only lost some of my recent profits, but with things down 30%, with possibly more to go, the odds are that I can buy back in low, and make back those profits and more in 2020. I feel for the people who receive shares as part of their pension plan, as those shares have taken huge hits.
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  #569  
Old 03-12-2020, 11:07 AM
fishnguy fishnguy is offline
 
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Have the news about Trudeau being potentially infected changed the minds and it picked up over 1,200 points in just a few minutes?
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  #570  
Old 03-12-2020, 11:08 AM
fishnguy fishnguy is offline
 
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It appears they really have no clue what they are doing and I donít blame them.
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