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Thread: Interest drop, too much, too soon?

  1. #1
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    Default Interest drop, too much, too soon?

    http://www.thestar.com/Business/article/417272

    WTF? May be we are shielded in Calgary but is the Canadian economy suffering that bad?

    Inflation is going to skyrocket. Plus low interest rate is how we created the bubble in the first place. Why risk it?

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    i think its the east that is suffering, canada can careless what happens in the west.

    surely this will continue to inflate the alberta economy to an unsustainable level which I think we are already there.

    with the housing like this, watch the US stop buying oil because they cant afford it, the oil price will drop massively like it did in the 80s. Then alberta wont be no hot no more.

    The only light, well cutting the health premium by Jan 09 is awesome as I have to pay that out of my picket another 1056.00 saved yay
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    Originally posted by SilverRex
    i think its the east that is suffering, canada can careless what happens in the west.

    surely this will continue to inflate the alberta economy to an unsustainable level which I think we are already there.

    with the housing like this, watch the US stop buying oil because they cant afford it, the oil price will drop massively like it did in the 80s. Then alberta wont be no hot no more.

    The only light, well cutting the health premium by Jan 09 is awesome as I have to pay that out of my picket another 1056.00 saved yay
    Even at current rates projects are being priced out as profitable based on really low estimates of oil costs. And really, if they can't get oil from Canada, that'll just increase demand from OPEC countries, which will just end up raising the prices again anyways to the point where we are again viable.

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    haha

    OH NOES DOUBLE DIGIT INTEREST RATES ARE COMING

    how many of those threads did we have in the past 3 years...

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    ^^ I'll admit I thought that was coming just using the west as a base.
    Cos...

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    Did the Americans recently slash their rate? Canada usually follows suit? Can the big banks actually not lower their lending rate?
    Originally posted by rage2
    Shit, there's only 49 users here, I doubt we'll even break 100
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    Although there was talk that they wouldn't follow suit, the big banks all lowered their rate. TD slashed first, followed by most major banks.

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    4.75% FTW!
    Originally posted by rage2
    Shit, there's only 49 users here, I doubt we'll even break 100
    I am user #49

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    Originally posted by googe
    haha

    OH NOES DOUBLE DIGIT INTEREST RATES ARE COMING

    how many of those threads did we have in the past 3 years...
    Yeah, who would have thought that things would get so bad that the US would have to do the exact opposite of sound financial policy to try to save things...while ruining others

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    it wasnt done just to follow US lenders. it was done because inflation was below expected.

    Originally posted by Antonito


    Yeah, who would have thought that things would get so bad that the US would have to do the exact opposite of sound financial policy to try to save things...while ruining others
    when things are really bad, its typical financial policy to drop rates in order to stimulate the economy. so it was a logical move.

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    Moving back to interest rate levels that created this liquidty boom. A failed attempt perhaps?

    The american economy is 70% consumer. They can only spend so much, and max out so many cards, while using their homes as ATM's...
    Originally posted by 89coupe
    I do get great service there, especially when I mention my name, haha.

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    ^ that's the concern. We don't need people piling up more debt just because it's cheap. It's still debt.

    And the reduction is kind of helping banks out because they took a long ass time to drop their rate for the consumers.

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    people forget that calgary isn't the center of the universe. the boom was only in alberta. the canada-wide numbers are very different.

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