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Alberta economy is about to nosedive...
Ms Sans Serif
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[quote:ººEATºº:MV8yMTIzMzA5XzM1ODI2NDE2X0NCMTIwOTcz] [quote:Anonymous Coward 13014207:MV8yMTIzMzA5XzM1ODI2MzM2X0ZDNkI3RDc0] [quote:ººEATºº:MV8yMTIzMzA5XzM1ODI2MjI3XzkzQjUxNjk0] [quote:Anonymous Coward 13014207:MV8yMTIzMzA5XzM1ODI2MTA5XzQ0N0RFNzQ4] I agree with you OP things here in Alberta aren't quite as rosy as people might think. Our government has projected that we will be in the red to the tune of 4-6 billion dollars this past fiscal year as opposed to the 1.5 billion surplus that was projected before the election. Buckle up it's gonna get bumpy kids. [/quote] Alberta & Albertans way overspent. I know of many Albertans who bought property down south during this last boom. The money came from their home equity. Just pay attention to all the business that will close over the next 3 months... just watch. [/quote] Yup. If interest rates go up even 1% you will be able to get yourself some cheap toys on kijijji during break-up this spring. I think I would like a new quad this year. How bout you? [/quote] This week it was announced that TD and a few other major CDN banks had their credit ratings cut from AAA to AA. That means it will get more expensive for them to borrow money. That means they will have to raise interest rates to compensate. [b]Interest rates in Canada will be going up this year![/b] We don't have a Federal Reserve like the USA that can print an unlimited amount of money.... [/quote]
Alberta was the engine of the Canadian economy over the last decade.
It is clear that the good times are over now!
The 500,000 dollar houses in Edmonton are about to slip down to 300,000 before ya know it. There will be many 'toys' for sale at bargain prices here in Alberta ( quads, rv's, boats, snowmobiles,etc ).
Alberta has way overspent during the last 10 years and the chickens are coming home to roost.
Frivilous businesses will be going broke in droves over the next few years. Just watch how many of the coffee shops and restaurants here in Edmonton will close their doors this year.
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