Canada is collapsing

[Biggie Smiles]

Jesus.

Biggie, I'm scared..



Our mortgage is paid off, but we still have a lot of bills.

I hear you. Wish I could tell you everything is going to be ok but I just don't know. I would say just conserve your on hand cash for anything that is absolutely essential. Light, gas, food, etc. Ditch credit card payments and any other unsecured loans. They'll probably be forced to go on some type of deferred payment plan anyways if your government has any decency left



I just started a mortgage on a property purchased at nearly half a million. And I just lost over a quarter of a million so I understand the fear factor. I



Only saving grace is that I'm big on cash so I have a little over 50K in a safe deposit box for times like these. I've estimated about 20 months of no income will land me on a street corner holding a cup.  Everything else is tied up in investments and too far in the red to pull the trigger now and were it not for the daily margin calls chewing into my holdings I'd stay put and hope the storm passes.

I know when a person's poor, America is a much tougher place to be than Canada.



They're really on their own in the States.



Government doesn't take care of them.



So having enough cash to survive the lean times is more important in America than Canada.

I read the emergency measures taken in Ottawa and Washington..



What specifically is Ottawa doing to help the coming millions of destitute people across North America that you say Washington isn't?

Every developed country is proposing the same measures to stop the looming depression. It's not working though. You can't shut down the world and expect everything to be normal. There's nothing normal(or rational) about shutting down the global economy for a flu bug anyway.

In costa rica they're just throwing sand in the air like the savages they are.



What does their GDP look like? 2 cans of beer and a moldy plantain?

[kiebers]

I know when a person's poor, America is a much tougher place to be than Canada.



They're really on their own in the States.



Government doesn't take care of them.



So having enough cash to survive the lean times is more important in America than Canada.

Interesting, not sure what "States" you are talking about. Although I'm not sure why I am even responding to you J0E.

The waiting time for unemployment checks will be changed to a week, and the job search requirement is being waived (in Texas). Many companies that provided benefits are allowing employees to keep them even though they have reduced hours, and even some that took a lay off are allowed to keep benefits. It will be tough for a while and there will be some damage but I am confident things will come back. Oilfield will suffer regardless with the drop in prices, but that was going to happen anyway. That too, will come back.

[Gaon]

States of emergency, mass unemployment, pension money wiped out. We are screwed.

Then you can join Herman's western Canada session

huh?

[Gaon]

Donald Trump is talking about a cash payment to all 330 million Americans. Justin Trudeau has allocated funds to provide up to fifteen weeks at up to $450 for people that have to be at home, but do not qualify for unemployment benefits. Canada and America are being very generous compared to Israel. But, it won't save the economy. It is only meant to blunt the effects of a worldwide depression that China caused.

[Frood]

Donald Trump is talking about a cash payment to all 330 million Americans. Justin Trudeau has allocated funds to provide up to fifteen weeks at up to $450 for people that have to be at home, but do not qualify for unemployment benefits. Canada and America are being very generous compared to Israel. But, it won't save the economy. It is only meant to blunt the effects of a worldwide depression that China caused.

Australia is shafting any workforce member who is out of luck because of this crises... unless both parents are out of work, they're already on the dole, or they're new immigrants... even if one parent is a stay at home and only up to the child ages of 6-8 depending on income...



...so basically....reoccuring and cash payments for the those who desperately need it and many more who are preexisting bludgers, but nothing for people who've paid in all their lives and find themselves terminally unemployed... (until they lose everything and are out on the streets)



...assuming all 20 something mandatory inoculations to receive family benefits have been recorded in your children's medical history... if not, no payments at all and you'll eventually have your starving kids taken from you for "neglect"...  

[Anonymous]

I've been saving since I entered the work force, so has my husband..



But, most of our money is in RRSP's which I believe is like IRA's in the USA.

So I hope you've learned your lesson, Fashionista.



Simply put - the Stock Market is not your Friend.



Having faith in it is the equivalent of worshipping a Gambling Casino:

[Anonymous]

Sure Joe. You are a sixty five year old virgin barely surviving on OAS and Fash will have a comfortable retirement independent of government handouts. It seems you never learned your lesson.

[Anonymous]

I know you are trying to justify why you never saved for your own retirement, but I have no regrets..



They have provided a return for my retirement..



My husband's company has matching RRSP contributions that will continue to go into low tow-medium risk mutual funds..



Remember, we won't be touching them for at least thirteen years.

[cc]

I've decided to not respond to Joe at all. His motives are vile and attitude is rotten



And .. he knows little, has zero experience with money or politics  ... just mouths off



Worse - He  thrives on other's pain ... a rabid sicko

[cc]

..

[Anonymous]

I know he's trolling..



Nobody believes not saving for one's own retirement is desirable.

[cc]

It's not just that - it's everything and all the time on any issue ... He feels good when he thinks others have pain



He's going on my persona non grata list

[Berry Sweet]

So now China is saying they are virus free.  I'm finding this hard to believe.

[Anonymous]

It's not just that - it's everything and all the time on any issue ... He feels good when he thinks others have pain



oops - a deletion got me, lol

It was me cc..



I got logged out..



I can tell JOE is jealous of other people's success which is why he wants people to fail..



My husband and I don't think we've failed yet.

[cc]

So now China is saying they are virus free.  I'm finding this hard to believe.

me 2 .. . they are lying unless they found a cure and are keeping it secret



or maybe some of both