I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Posted: Thu Oct 09, 2008 11:12 am Post subject: Re: Canada's Banks Rated Safest In World
True, but the backwash from the Panic of 2008 is slopping over into Canada. All those who bought on leverage have not yet finished unloading at any price in order to cover their margins.
My suspicion is that we will see Dow Jones at 8,000 before we see it at 11,000.
Posted: Thu Oct 09, 2008 11:22 am Post subject: Re: Canada's Banks Rated Safest In World
I completely agree Dale. We will be seriously side swiped by the unfolding events in the world. But at least it is somewhat reassuring to know that our banks are relatively safe. And the safest Bank in the World based on this report is the Alberta Treasury Branch. Because the ATB 100% guarantees all deposits regardless of size. 100% backed by all the resources of the Province of Alberta. And make no mistake we are only at the beginning of this world changing event. In my opinion this calamity is a direct result of Peak Oil. And it will never go away but will increase as we go further along the trail. The days of cheap energy are over. The descent has begun. _________________ "Since you have chosen to elect a man with a timber toe to succeed me, you may all go to hell and I will go to Texas." Davy Crockett
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