Daily Economy Thread

[Shadow 6,697]

Here's a site that monitors daily job losses and business news related:

http://www.dailyjobcuts.com

It really puts things in perspective...

[Economy 52,844]

Here's a site that monitors daily job losses and business news related:

http://www.dailyjobcuts.com

It really puts things in perspective...

man ive been so sick. Havent updated this thread in forever

And im assuming those are bigger layoffs no? Not every employee fired is gonna show up there is it?

If they could track all of this daily, the jobs reports wouldnt be subject to revisions months later as new data became available :shrug:

[Shadow 6,697]

man ive been so sick. Havent updated this thread in forever

And im assuming those are bigger layoffs no? Not every employee fired is gonna show up there is it?

If they could track all of this daily, the jobs reports wouldnt be subject to revisions months later as new data became available

Hope you feel better...

I think the site only moniters business news that involves job cuts and then add the data from articles to compile with what it has already. I don't think they have access to direct figures as government agencies or think tanks may have.

I just think looking at each story across the nation says more about the economy on the ground than statistics could predict even with small margins of probability.

Jobless masses, business closures are direct effects of a weak economy at least at the local level. Of course, it isn't always the case in different areas of the country.

[Economy 52,844]

Hope you feel better...

I think the site only moniters business news that involves job cuts and then add the data from articles to compile with what it has already. I don't think they have access to direct figures as government agencies or think tanks may have.

I just think looking at each story across the nation says more about the economy on the ground than statistics could predict even with small margins of probability.

Jobless masses, business closures are direct effects of a weak economy at least at the local level. Of course, it isn't always the case in different areas of the country.

i think its the flu i caught :(

And cool. Thanks for telling me about that site

Here in Canada they are sh*ting brics worrying about mass job losses because of low oil prices. Our Central Bank Shocked everyone by lowering the Benchmark from 1% to 0.75% to try to boost the domestic economy further to compensate for the tenporary drop in oil prices

But our consumer debt is already so high and our 13 year housing boom has the market super over-heated. Low rates even long could make it worse

Id like to see a website like that for Canada in 6-12 months time. I dont think id like what id see :MANiCURE:

[Woolfsmck 2,763]

i think its the flu i caught :(

And cool. Thanks for telling me about that site

Here in Canada they are sh*tig brics worrying about mass job losses because of low oil prices. Our Central Bank Shocked everyone by lowering the Benchmark from 1% to 0.75% to try to boost the domestic economy further to compensate for the tenporary drop in oil prices

But our consumer debt is already so high and our 13 year housing boom has the market super over-heated. Low rates even long could make it worse

Id like to see a website like that for Canada in 6-12 months time. I dont think id like what id see

I hope not.. I think that would suck..

[Economy 52,844]

I hope not.. I think that would suck..

well it would look bad for the Governor of the Central Bank to say hes really worried. Would take away confidence from businesses. He called the rate cut "taking out an insurance" to protect against negative forces particularly low oil prices

But many experts here agree Canada right now is a fragile jinga building with many pieces missing and the slightest shock could send everything crashing

- Consumer debt is exeptionally high at 163% of income

- The overheated housing market remains highly inbalanced, tho there are signs of an early sharp decline in Western Canada. In Calgary (biggest city of Alberta) homes sales collapsed a wooping 42% last month from the month before. New listings are surging and purchases are way down signaling panic could be starting. If housing crashes in Western Canada, it could spread to the rest of the Country which also has a highly imbalanced market

- Oil industry obviously will cut into Government revenue and the ripple effect from industries that support the oil sands will take a big hit as big oil companies already slashed planed spending by 30%

- They hoped Central Canada (Ontario & Quebec) which are very heavy in Manufacturing would benefit from a weaker currency, recoverig US and cheaper energy and help offset the economic damage. But so far thats not happening and manufacturing is stalling. They say because of the heavy damage manufacturers took between 2007-2012 from a high currency and weak demand will cause a long delay before they are financially capable of expanding business again

Now the new official estimate for Canadas growth in 2015 was revised down to 2.1% which isnt terrible its "ok". But thats assuming things manage to stay stable. Given that long list of big issues above, theres a lot that can go seriously wrong :MANiCURE:

[Shadow 6,697]

well it would look bad for the Governor of the Central Bank to say hes really worried. Would take away confidence from businesses. He called the rate cut "taking out an insurance" to protect against negative forces particularly low oil prices

But many experts here agree Canada right now is a fragile jinga building with many pieces missing and the slightest shock could send everything crashing

- Consumer debt is exeptionally high at 163% of income

- The overheated housing market remains highly inbalanced, tho there are signs of an early sharp decline in Western Canada. In Calgary (biggest city of Alberta) homes sales collapsed a wooping 42% last month from the month before. New listings are surging and purchases are way down signaling panic could be starting. If housing crashes in Western Canada, it could spread to the rest of the Country which also has a highly imbalanced market

- Oil industry obviously will cut into Government revenue and the ripple effect from industries that support the oil sands will take a big hit as big oil companies already slashed planed spending by 30%

- They hoped Central Canada (Ontario & Quebec) which are very heavy in Manufacturing would benefit from a weaker currency, recoverig US and cheaper energy and help offset the economic damage. But so far thats not happening and manufacturing is stalling. They say because of the heavy damage manufacturers took between 2007-2012 from a high currency and weak demand will cause a long delay before they are financially capable of expanding business again

Now the new official estimate for Canadas growth in 2015 was revised down to 2.1% which isnt terrible its "ok". But thats assuming things manage to stay stable. Given that long list of big issues above, theres a lot that can go seriously wrong

I didn't realize cheap oil would have such an averse effect on the oil industry. IS the OPEC power play working then?

[Computer 10,980]

I read about the Swiss Franc.

Holy ****!

The Euro is over. :bye:

[Woolfsmck 2,763]

I didn't realize cheap oil would have such an averse effect on the oil industry. IS the OPEC power play working then?

Yes and no...

Canadian trade suffers when the U.S. economy sinks ... Oil exports were/are a major part of their GDP. Since the U.S. is about 85% of their customer base, they are taking a big hit...

On the flip side, Consumers have a lot lower prices now, transportaion costs of goods and services is less, and manufacturing should see operating and raw material costs reduced ...

The real target of the oil price war is Russia and Iran ... since thier are militarily agressive right now, their ability to build and sustain their arms is diminshied from lower oil revenue.

[Woolfsmck 2,763]

US oil services firms slash jobs as crude prices plunge

https://finance.yahoo.com/news/us-oil-services-firms-slash-jobs-crude-prices-213743881.html

Low oil prices is impacting these companies right now.. This is were I 'was' working last summer but had a premonition and have moved to a different part of the transportation industry....

Lucky me I made the move before everyone else... 8-)

[Shadow 6,697]

US oil services firms slash jobs as crude prices plunge

https://finance.yahoo.com/news/us-oil-services-firms-slash-jobs-crude-prices-213743881.html

Low oil prices is impacting these companies right now.. This is were I 'was' working last summer but had a premonition and have moved to a different part of the transportation industry....

Lucky me I made the move before everyone else... 8-)

Sweet, Woolf! Wasn't it nerve racking transporting oil products?

Walmart is definitely happy about the oil cuts, as it reduced costs in transporting goods. We got four palets worth of watermelons for some reason... In the winter... Anyone like watermelon when it's cold on delivery? Not to mention the site to store division has blown up as more people make use of the free delivery. However, I think they hired gremlins at the distribution centers, because they can't stack palets to save their lives. You would not believe how many toppled, leaning, (juice over eggs and yogurt), and other mishaps I had to clean up after.

Anyways, like you said, lucky you. :cool:

[Woolfsmck 2,763]

Sweet, Woolf! Wasn't it nerve racking transporting oil products?

Walmart is definitely happy about the oil cuts, as it reduced costs in transporting goods. We got four palets worth of watermelons for some reason... In the winter... Anyone like watermelon when it's cold on delivery? Not to mention the site to store division has blown up as more people make use of the free delivery. However, I think they hired gremlins at the distribution centers, because they can't stack palets to save their lives. You would not believe how many toppled, leaning, (juice over eggs and yogurt), and other mishaps I had to clean up after.

Anyways, like you said, lucky you. :cool:

Yeah, Driving a fuel truck is hi stress ... I quit and went back to dry goods because of that. I got lucky with the fuel prices since diesel is about $1 less per gallon now... Thats a lot of money over a year... Imagine a fleet like Walmart, the fuel cost reduction must be quite significant... Retail should see better profits soon and hopefully food prices will drop too.

[Luc 4,776]

Eurozone QE finally official. Greek elections in 3 days, secretly hoping they leave the Eurozone and the Eurozone learns from past mistakes and checks banks and governments more strictly.

[Woolfsmck 2,763]

Eurozone QE finally official. Greek elections in 3 days, secretly hoping they leave the Eurozone and the Eurozone learns from past mistakes and checks banks and governments more strictly.

Good news for the U.S. too...Anything that is good for the EU is good for the U.S. too..

[Luc 4,776]

Good news for the U.S. too...Anything that is good for the EU is good for the U.S. too..

The US is doing well on its own. It will make products imported from Europe a lot cheaper but will cause a small bit of job loss because they get less dollars because of a falling Euro (eventhough most of that already happened in the past year).

 

Sad that the world is stagnating outside the US. China has a housing bubble and wasted money on useless infrastructure paid with middle class and lower class money, the Arab world and many African countries are not doing well politically, Russia, Ukraine and Saudi Arabia and their main trading partners have a declining economy, etc. and all these things together cause stagnation in Europe and Japan. I think both will do fine later on, though.

 

I still don't understand exactly how QE works tho. The ECB gives money to Central Banks and these buy obligations from their own governments? What's the purpose of this? Will this make the debt higher, interest on obligations lower, how should the governments spend the money (save for a lower deficit or invest in infrastructure and small businesses)?