Here in Canada, aside from a few relatively minor hits to the
auto industry we have felt little of the world economic turmoil. It
worries me. My son for example, who does really well in the
construction industry has gone into major debt to buy a new home in
the country, and got a superb mortgage deal. But, if things turn
south and he gets laid off there is no way he can keep that house
for long and if the housing bubble here bursts his equity will drop
dramatically. His wife, also in the construction industry has
already been laid off. I could not get him to see the possible
consquences cause he bought into the "recovery" mantra.
Good thing you decided to
Pure Rant
Posted by Palladin on 9th of May 2010 at 11:41 pm
Good thing you decided to keep it short
Joking aside, well said.
Here in Canada, aside from a few relatively minor hits to the auto industry we have felt little of the world economic turmoil. It worries me. My son for example, who does really well in the construction industry has gone into major debt to buy a new home in the country, and got a superb mortgage deal. But, if things turn south and he gets laid off there is no way he can keep that house for long and if the housing bubble here bursts his equity will drop dramatically. His wife, also in the construction industry has already been laid off. I could not get him to see the possible consquences cause he bought into the "recovery" mantra.
Hope I'm wrong.
Glad you liked it, haven't
Posted by steveo on 10th of May 2010 at 12:30 am
Glad you liked it, haven't ranted in a while, felt good!