So, economic turmoil hit the Canadian economy in a big way today. There's nothing that puts your own life problems into perspective like global economic collapse. I just listened to the latest This American Life podcast, which helped me understand just how screwed we all are. Although I could have just read the top 10 headlines at Report on Business, including:
TD to raise rates on mortgages, home equity loans
Why markets are diving, why credit is drying up
Developers struggle to secure financing
Scotiabank projects recession in Canada, U.S.
Loonie slides to 18-month low
On a more positive note, a more positive headline points out that "Out of Panic Come Great Long-term Opportunities." And if there's any sector of the economy that deserves to be taken down a peg, it's the oil sands.Seriously though, I'm sure we have nothing to worry about... we'll probably all be swallowed by a black hole from deep underneath Switzerland first.
Have a great week!!!
