The Economy

Old Apr 15th 2020, 6:13 pm
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Default The Economy

I didn't want to post this in the existing threads as I don't think there is one where this would fit.

March economy shrank 9% according to a flash estimate by Stats Canada.

Most severe since the series began in 1961.

Some sectors were able to maintain growth such as food distribution, health, online retailing and streaming.

Conference Board of Canada suggests a not so rosy 2nd quarter.

I suspect April will be worse than March considering only 1/2 of March was affected really.


https://business.financialpost.com/n...flash-estimate









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Old Apr 15th 2020, 6:47 pm
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Default Re: The Economy

Now is a very good time for people around the world to practice Stoicism and be kind to each other. Tough times are ahead and there is bugger all we can do about it.
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Old Apr 15th 2020, 9:09 pm
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Default Re: The Economy

Originally Posted by Danny B View Post
Now is a very good time for people around the world to practice Stoicism and be kind to each other. Tough times are ahead and there is bugger all we can do about it.
I am utterly with you Danny.

It will get far worse before it gets better, and we just have to take a deep breath and carry on. No amount of hand wringing is going to change this in the short term.

We could blame our politicians...but be careful what you wish for - it was us, that voted them into office!

I think it’s possible to talk this situation down further, and we really don’t want to do that. It’s not so much as “look on the bright side” more of a “don’t make a drama out of a crisis”.

There are two sides to every coin, and whilst a smile can be infectious - so can negativity.

We need to keep on getting up and making the best of it - we don’t have any viable alternatives up our sleeves...but something will be coming soon...it always does.

It’s unspeakably, ghastly at present but it has been through centuries of plague, civil and religious unrest...we’ve weathered them (some of us in the Maritimes, quite literally) and we will do it again now.

We will remain United...but 2 metres apart! As Dr. Who advised!

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Old Apr 15th 2020, 9:14 pm
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Default Re: The Economy

Originally Posted by Danny B View Post
Now is a very good time for people around the world to practice Stoicism and be kind to each other. Tough times are ahead and there is bugger all we can do about it.
Tough times indeed. I have already accepted I might be homeless before the end of the year, long term can't just pay rent and nothing else, so only option is to leave the housing.

Unless landlord decides to lower rent but that isn't likely, they don't have a desire to help their tenants.

Still a fair amount of job postings on indeed, only problem is nearly all are skilled or semi skilled jobs.

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Old Apr 15th 2020, 10:20 pm
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Default Re: The Economy

One thing to keep in mind is the economy would be devastated either way, either from people getting sick and dying from COVID, or what we're seeing now, the lockdown/closures. There's no easy way out of this one, that's for sure.
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Old Apr 15th 2020, 10:35 pm
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Default Re: The Economy

I have sort have accepted that I, and my husband, might very well be dead...but I’m hoping my son might make it...I’ve been “completely “ penny less before, to the point that I would buy many tins of spinach and pasta and they would keep me alive, I didn’t have a stove so I ate them cold...a good few years of that, and thankfully they are behind me now, my first 20 odd years were crap, but that’s history. If life turns completely to rubbish, again, I will adapt.

One has to.

I speak every day to people who have just become homeless, they have frequently had no chance to think about this, their lives have turned on a dime, and they have turned with it...




i



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Old Apr 15th 2020, 11:26 pm
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Default Re: The Economy

I figure if I had trouble finding a job in 5% unemployment, I may not work for the foreseeable future, I can't compete in a high unemployment market, last down turn wasn't even this bad and I didn't work from 2008 to January 2010, and unemployment at that time was only 7% something where I was. No skills, no references, no education, no chance of employment in a high unemployment competitive job market.

I will at some point stop paying rent, hoard the rent money until we have enough to survive, abandon the apartment and everything in it, and live in the car, I don't see anyway sustainable way to keep housing at this point.

I wish we had more helpful families, mine isn't wealthy, but wife's mom and brother could have helped her but chose not to and still does, they will literally let her be homeless rather than help.
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Old Apr 16th 2020, 1:10 am
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Default Re: The Economy

I fear the phrase "tough shit " might be applicable...move on? Why should they if they don't want to?
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Old Apr 16th 2020, 1:28 am
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Default Re: The Economy

Originally Posted by Jsmth321 View Post
I figure if I had trouble finding a job in 5% unemployment, I may not work for the foreseeable future, I can't compete in a high unemployment market, last down turn wasn't even this bad and I didn't work from 2008 to January 2010, and unemployment at that time was only 7% something where I was. No skills, no references, no education, no chance of employment in a high unemployment competitive job market.

I will at some point stop paying rent, hoard the rent money until we have enough to survive, abandon the apartment and everything in it, and live in the car, I don't see anyway sustainable way to keep housing at this point.

I wish we had more helpful families, mine isn't wealthy, but wife's mom and brother could have helped her but chose not to and still does, they will literally let her be homeless rather than help.
I was selling software to the hotel industry. We were all terminated the day Doug Ford declared a state of emergency and said no one would lose their jobs. My employer shat themselves at the thought of government legislation and butchered us all.

I've accepted I may not work till next year. Finding jobs in Canada is slow and painful in a strong economy- I dread to think what a recession looks like let alone the biggest recession in human history.
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Old Apr 16th 2020, 1:49 am
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Default Re: The Economy

Originally Posted by JamesM View Post
I was selling software to the hotel industry. We were all terminated the day Doug Ford declared a state of emergency and said no one would lose their jobs. My employer shat themselves at the thought of government legislation and butchered us all.

I've accepted I may not work till next year. Finding jobs in Canada is slow and painful in a strong economy- I dread to think what a recession looks like let alone the biggest recession in human history.
Hotels are not doing well so I don't imagine they will be investing into things right now. And yes finding a job that isn't min wage is difficult in good times, in bad times its hard to find anything. 2008-2009 era was so bad, I gave up and went to California, found a job in under 2 months, but then my ex-wife wanted to try to work things out, so I came back to Canada, looking back, I should have stayed put...lol

My old company at the airport, laid pretty much everyone off, only the managers left who now have to actually work flights, but really they had no choice, its a smallish company, and they lost 95% of the flights they were handling, hard to keep employees when you lose all your flights. They only get paid if there are flights, so no flights = no revenue.

I've never found success in Canada really, wages vs cost of living are too out of whack, $15 US$ goes further in the US than $15 CAD does in Canada.
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Old Apr 16th 2020, 2:17 am
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Default Re: The Economy

Bad news at the Vancouver Aquarium if they can't secure funding.

https://www.citynews1130.com/2020/04...d-permanently/

"The Vancouver Aquarium could close for good in two months if it’s unable to secure at least $1 million a month in immediate financial support."
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Old Apr 16th 2020, 6:44 pm
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Default Re: The Economy

Originally Posted by Jsmth321 View Post
I figure if I had trouble finding a job in 5% unemployment, I may not work for the foreseeable future, I can't compete in a high unemployment market, last down turn wasn't even this bad and I didn't work from 2008 to January 2010, and unemployment at that time was only 7% something where I was. No skills, no references, no education, no chance of employment in a high unemployment competitive job market.

I will at some point stop paying rent, hoard the rent money until we have enough to survive, abandon the apartment and everything in it, and live in the car, I don't see anyway sustainable way to keep housing at this point.

I wish we had more helpful families, mine isn't wealthy, but wife's mom and brother could have helped her but chose not to and still does, they will literally let her be homeless rather than help.
so 10 years on you still have no skills, no references or Education?
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Old Apr 16th 2020, 7:42 pm
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Default Re: The Economy

Originally Posted by cheeky_monkey View Post
so 10 years on you still have no skills, no references or Education?
I tried to go to school, but didn't get through it, and ended up in debt. I have never been good in school, I have a learning disability and do not learn well in the traditional sense. I also have a mental health problem that is complex and untreated because I do not have the money to pay for treatment and medical system in BC does not cover psychological treatments, and that untreated mental health problem is complex and difficult to live with, especially so not treated which then causes employment issues and thus no references.

When people don't have access to the resources they need to thrive, people can't expect those people to thrive and succeed.

Hard to even get a head when making $15 or $16 per hour let alone pay $150-$200 per week for the treatment I need.

Except for some retail jobs years ago, I have been in the same 2 types of jobs for 20+ years, working in the airline industry on the ramp or hotels doing night audit, every skill I have is connected to those 2 industries and neither are hiring at the moment, and laying off in huge numbers.

I was looking into one short term training I think I could do, medical device reprocessing, but because its short term, its not student loan eligible, and I never had the resources to cover the cost of tuition and supplies.

I have very limited resources to work with, no support and lost and unable to manage my mental health issues alone, there is a reason the suicide rate is 10% with this disorder and suicide attempts into the 70%+ range, its really not possible to recover from alone without professional support.

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Old Apr 16th 2020, 7:46 pm
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Default Re: The Economy

For so many people, life is a crap shoot, perhaps for everyone.
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Old Apr 16th 2020, 8:28 pm
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Default Re: The Economy

Originally Posted by Jsmth321 View Post
I tried to go to school, but didn't get through it, and ended up in debt. I have never been good in school, I have a learning disability and do not learn well in the traditional sense. I also have a mental health problem that is complex and untreated because I do not have the money to pay for treatment and medical system in BC does not cover psychological treatments, and that untreated mental health problem is complex and difficult to live with, especially so not treated which then causes employment issues and thus no references.

When people don't have access to the resources they need to thrive, people can't expect those people to thrive and succeed.

Hard to even get a head when making $15 or $16 per hour let alone pay $150-$200 per week for the treatment I need.

Except for some retail jobs years ago, I have been in the same 2 types of jobs for 20+ years, working in the airline industry on the ramp or hotels doing night audit, every skill I have is connected to those 2 industries and neither are hiring at the moment, and laying off in huge numbers.

I was looking into one short term training I think I could do, medical device reprocessing, but because its short term, its not student loan eligible, and I never had the resources to cover the cost of tuition and supplies.

I have very limited resources to work with, no support and lost and unable to manage my mental health issues alone, there is a reason the suicide rate is 10% with this disorder and suicide attempts into the 70%+ range, its really not possible to recover from alone without professional support.
In the short term, are you claiming CERB? That should cover your rent and food? Between the two of you I mean...
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