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Should the boom die?
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Should the boom die? I am a very hard working and even harder driven man. The boom has been very good to me and my family and I'm glad it started when it did. But after several years of fighting through it I'm left wondering if it's worth it... I now have a very heavy wallet and an even heavier heart. I come home later, I'm tired all the time and stress is always getting the best of me lately. Bills are going up and time is flying by. Quality of life seems to be going down as my are rapidly growing up. Global statistics show that poorer cultures are typically the happiest. They have a richer sense of self, family and pride. We're richer, is everyone happier????? I don't hate my life but find myself wondering if trying to be the best every single day is worth it. Is it worth it to you? The more we make the more we want. The more we want the more we have to work for it. I think we're pushing ourselves too hard. We are on the verge of creating a two class society. Those that have and those that don't. I think it will eventually lead to chaos. Look around Edmonton and Calgary and take notice of the hundreds of condo complexes being built. They will soon be full of poor ghetto trash when this all collapses. At least that is what I fear. The thought of all the poor 's lives that will be destroyed as their families are torn by the rise and fall of the economy sickens me as well. The 80's were bad. This could be worse.... a lot worse. Anyone who thinks the government is working around the clock to insure this doesn't happen again is a fool. You're the type of person who has already bought in to a mortgage you will never be able to pay. You probably live a life that you could only sustain if this economy continued to grow for next 50 years without any hardships. I know all of this sounds grim and negative but it's just a thought. I have been able to enjoy many things in my life as a result of the recent economic boom. I just know that I'm not going to be dependent on it, and I will be ready when it all falls apart...... |
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6/4/2007 9:27 pm |
I've often said a boom only serves the wealthy in the long run. Working slobs either change jobs frequently or face a rapid lowering of buying power as the boom drives prices of almost everything up. While wages in certain sectors have increased prices have far out stripped them. Buying a house for many is out of the question, and renting becomes problematic in that vacancy rates go down and rents get ridiculously high. Short term one would think a huge increase in royalty rates for gas and oil would cool down the boom. Big oil companies will want the stuff anyway, make them pay for it and spread the benefits so that the boom has some benefit for all of us. Jeezuz sounds kind of Marxist.
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I'm not worried about a recession. It's coming whether you like it or not. What I worry about is a depression. I'm starting to smell it in the wind... There's a growing gap between rich and poor, housing values have less and less to do with the cost of the house or the land it sits on, and there are signs that the sub-prime mortgage fiasco in the states may wind up doing far greater and more widely spread damage than any but the prescient few think. (And let's all hope that the Americans don't cough too hard when the Chinese come over, knock on the door, and foreclose on their national debt!) Perhaps you might consider putting some of your wealth in something other than cash - something uninfluenced by devaluations of currency, and always in demand regardless of other market conditions.
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2/4/2008 10:04 pm |
i am not sure what drives me? why do i work like a dog? its 11pm right now and i am in the middle of a 15 hr day, and in jan 08 i had 2 days off. feb only 1 day off planned all so i can pay 70k in income tax..i tell my self that this is not going to last so better make while its there. giddy up, head down ass up and hair straight back..and hopeing that i am the one that makes it out of alberta alive, still married and with a shitload of $$$.
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9/5/2008 8:01 am |
Everyone hopes for the 'Boom'...and then get caught up in it, get burnt out by it, and get off balanced by it. I think slow and steady wins the race everytime...and doesn't come at a huge price to the soul.
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