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JimmiDean · 02-10-2009, 05:22 AM

I think at least at this point we are in better shape in Canada due mostly due to the fact we have been paying down our debt for the last ten years and the fact that our housing loans and banks are very heavilly regulated by the goverment so no sub prime mess or bank collapse.
However on the job front we had the largest one month job loss in 32 years in January.
Personally I worked at Nortel Networks for many years before the teck wreck my department alone went from 6600 people to 129 the company as a whole went from 106,000 to 26,000 now they are in barnkruptcy and I guess I was lucky to get out with a good severence package at the time as the employees are now considered unsecured creditors and may get nothing.
We are now following the U.S lead due to a week minority conservative parliment being driven by those who think the sky is falling.
I can only assume our bailout will be as effective as the U.S plan
Can you imagine if all that money was used to pay off our morgages or at least help those with high interest, cap credit card interest to something less obscene?
Or even offer employers in hard hot sectors tax advantages in the form of payroll tax to keep an employee around, might have saved a few at least.

02-10-2009, 05:22 AM
JimmiDean Confirmed User Join Date: Nov 2004 Location: Margarittaville Posts: 3,433	I think at least at this point we are in better shape in Canada due mostly due to the fact we have been paying down our debt for the last ten years and the fact that our housing loans and banks are very heavilly regulated by the goverment so no sub prime mess or bank collapse. However on the job front we had the largest one month job loss in 32 years in January. Personally I worked at Nortel Networks for many years before the teck wreck my department alone went from 6600 people to 129 the company as a whole went from 106,000 to 26,000 now they are in barnkruptcy and I guess I was lucky to get out with a good severence package at the time as the employees are now considered unsecured creditors and may get nothing. We are now following the U.S lead due to a week minority conservative parliment being driven by those who think the sky is falling. I can only assume our bailout will be as effective as the U.S plan Can you imagine if all that money was used to pay off our morgages or at least help those with high interest, cap credit card interest to something less obscene? Or even offer employers in hard hot sectors tax advantages in the form of payroll tax to keep an employee around, might have saved a few at least. __________________ My God there's Porn on here! Still on the Beach !!!