Is the Canadian Situation Any Different?
I post a fair bit on the afterthecrash.ca site….some smart cookies over there but a lot of head in the sand types as well.
Agreed. There seems to be a lot of people just there to figure out how to make/save a buck on RE and not much talk on limits to growth. I’ll keep an eye out for your posts.
the really wild thing is that it is now a worldwide phenomena……can one even have a worldwide hyperinflationary event???..it doesn’t make sense???
It’s hard to wrap one’s head around that. I guess that’s why I keep coming back to sites like this to try and keep a few steps ahead.
I am hedging these days big time. Homestead in Western Canada (in the process off trying to settle the deal), gold silver investments, tangible assets……no debt…….trying to find like minded folks to partner up with (thats the hard part honestly)
Doing the same here. It’s hard to find likeminded folks or to keep your existing friends who aren’t interested in the red pill. You start talking about global energy depletion and the common response is always “canada will be fine with our wonderful tar sands”.
It’s been a while since anyone’s posted in this thread, but I’d like to add the discussion in the hopes that people might come back.
Lishui, I am in a very similar situation to you. In fact, I could have written your post word for word. I’m glad that I’m not the only one trying to prepare. I sold my house last year, paid off all my debts, and am now sitting on the cash from the sale in the (vain?) hope that I can cash in on a property when the property bubble bursts here. I check out canadabubble.com regularly for news on the Canadian housing bubble. It’s a news aggregator, fyi.
Ruhh, I totally forgot about Garth Turner’s blog; it really is a great read.
Knucklewalker, when I read news about the US, European and world economy, I assume that Canada will suffer the same sort of fate. We are far too entwined in the global economy to not be affected. Perhaps because Canada is a resource-rich nation, that its citizens may fair a little better than some places that rely solely on tertiary economies (Iceland with its financial industry, for example).
I’m trying to decide where I’ll live in the near-to-short term. I imagine the days of settling down in one spot and working a nice, safe, settled job will soon be over. People will be far more willing to move where there’s work. Being able to settle down in one place for a long time will be a luxury only a few can afford. Is the interest in homesteading the work around to that? Buy acreage, move the family onto it, and become self-sufficient?
I’ve been concerned whether the U.S. situation will impact Canada and the research I’ve seems to indicate that Canada will not be able to escape the downtrend. Below is a link which describes the impact of the great depression on Canada and it’s suffered just as much as the U.S.
I’ve come accross the following website. It’s goes into details on the Canadian housing bubble and how tied into construction the Canadian economy really is.
It appears that Canada is in a housing bubble and it’s only a matter of time before we encounter a pin (credit crunch, U.S. recession, European financial meltdown, etc.). I came accross a really good presentation by Steve Keen and Jeff Rubin the other day which detailed out the Canadian situation. Even with all the information I still find it hard to believe my home market (Calgary) wil experience a housing correction. I struggle with whether to sell our highly leveraged house or not.
I’m curious to know whether people feel that buying gold is a prudent strategy for Canadian given the current strenght of our currency and comparatively better financial position of our government.
Does anyone have any views on whether they feel Canada can truly sidestep the potential financial Tsunami that is coming.
Some of my views anyways. Thanks
Any Canadians out there with a knowledgeable analysis of the safety of GICs? My feeling is that if GICs go into default we’re pretty well bust anyway. Having some gold makes sense but that can only be part of the picture. I’m really sick of getting whiplashed by the stockmarket and getting to the point in life where I’d be happy to hang on to what we’ve saved and feel secure.
We’ve paid off our debt, live 16 km from a small town, grow much of what we eat, heat with wood, have clean water and are in the process of adding solar power to take care of freezers, pump, a few lights and battery chargers, already have solar/wood hot water. After the solar power is sorted out we’ll think about an electric vehicle that we can charge with the solar system and it will be part of the storage array. We’ll do this not just in case everything goes sideways but also as an environmental committment. The financial planning is where we feel the most vulnerable, it’s been too hard to save to watch it evaporate.