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Coronavirus

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Everything financial is in the crapper because markets hate uncertainty and this is practically the most uncertainty you could possibly have. There is some cash out there trying to find a home, and more of it is finding the US$ than the C$, that's all the exchange rate means. Big sell-offs - and this is a very big one! - tend to feed on themselves. Just about everyone has a threshold below which they don't want to be in the market any more, and they hit the "sell" button, which of course makes the market go even lower, and then maybe it gets below their neighbor's "sell" threshold. That's what's happening today.

So much for the retirement nest-egg.

At some point there will be a bottom and it will turn around, but it's going to get a lot worse before it gets better. Markets are forward looking, the bottom in the markets will probably happen before the worst of the infection hits the USA, but there's a ways to go before that happens.
 
Scuba Steve said:
Currency is due the the Saudi and Russians decimating oil. F in idiots starting this in the middle of a pandemic.

Sent from my moto g(7) plus using Tapatalk
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The ones with the money could care less. Many are literally in their own castles.
 
And the simul-post about the timely Saudi vs Russia oil war is correct. Basically Canadian oil producers are now going to be shut-in for a while.
 
during times of market uncertainty the USD becomes a safe haven investment
so it's value goes up vs other currencies
virtually no one holds $ CDN as a hedge

that and as SS pointed out, weak oil has a huge affect on the loonie
 
Scuba Steve said:
Currency is due the the Saudi and Russians decimating oil. F in idiots starting this in the middle of a pandemic.

Sent from my moto g(7) plus using Tapatalk
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That might have been the case last week, can't see that being the case now,
I thought the value of a countries currency was based on the strength of that countries economy? but maybe I'm wrong and it's based on the americium $
 
Brian P said:
And the simul-post about the timely Saudi vs Russia oil war is correct. Basically Canadian oil producers are now going to be shut-in for a while.
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I think they picked a good time to mess with oil. It's like Crimson Tide. They are running a drill while there is already a %^*&^show happening that is using 100% of the available resources. That is a great way to get the system to collapse.

Keep the price of oil low, nobody is using any now anyway so volume is also low and the canadian oil producers will have trouble keeping operations running. Markets in the *&^*&^er will make a credit crunch so canadian oil companies starve to death. Wait a while in that state and the workers move on to other careers. Bingo, bango, bring the price back up and there are only two viable producers in the world for a while. Sure you have screwed over many people, but not your people.
 
Propane was just under 66 cents per litre delivered today (y) Canadian money !

... and I proudly paid my carbon tax so now I am going to turn down all the thermostats and light my wood fire :)
 
Complete details of federal cash infusion. Link is official source, text is a summary stolen from a facebook post.

"Emergency Funds for COVID-19:

1. GST credit - $400 single adults - $600 for couples

2. Child Tax benefit Top up - $300 per child added on top of
what you receive already.

3. Student loan payments deferred
-6 month timeframe
-no payments
-no interest accrual

4. Indigenous community based support fund
-$305 million

5. $200 million provided for community resources
-Shelters/homeless needs
-Sexual assault/transition homes

6. 10% wage subsidy for small-medium sized businesses for employees.
-$25,000 per employer

7. Ensured Mortgage Protection Program
-50 billion provided
-payment deferrals
-special payment arrangements

8. Bank Supports
-auto loans - deferral of payments possible
-contact bank directly
-speak to your institutions

9. Personal Income Tax
-payment before September. 1st/2020 - extended deadline for income tax payments owed
-Filing deadline for Income Tax - June.1st/2020

10. Emergency Care Benefit
-Quarantined or caring for sick family member
-Providing $900 bi weekly
-Payment via direct deposit
-Will not require medical documentation
-Starting early April

11. Emergency support fund - $5 Billion
-more info to come
*Supply chains from groceries will maintain fair prices for Canadians"


Archived - COVID-19: Financial support for people, businesses and organizations - Canada.ca

Learn more about Canada’s actions to help people, businesses and organizations facing hardship as a result of the COVID-19 outbreak.
www.canada.ca www.canada.ca
 
crankcall said:
actually it can be bacterial or viral, and the side effect of the infection is fluid in the lungs. Your really sick and end up in critical care because of the infection, which is hard to treat , bacterial easier than viral. ( As per the critical care nurse sitting on the couch beside me)
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Hmmmmm. My doctor said 3 kinds of pneumonia when I had it last year.
 
FullMotoJacket said:
Hmmmmm. My doctor said 3 kinds of pneumonia when I had it last year.
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I can roughly translate that for you:
One thing he saw was some **** in your lungs,
and then there was this other **** in your lungs
and then there was this other **** in there that is so gross it made him stop counting.
 
sburns said:
I am hoping we crossed the hump in the panic buying. Just got back from my local grocery store, wanted to check for water. There was hardly anyone on the road, and the parking lot was almost empty. They also had water! Whew I was thinking this might be another quest.
Hopefully the stores can catch up on inventory.
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The supply chain is interesting. COVID apparently doesn't cause diarrhea so why the run on toilet paper?

IMO the TP inventory is constant with it being spread between manufacturers, warehouses, stores and homes. The panic buyers have skewed the locations of the stock. Things should level out in a week or two.

Water: A lot of bottled is no better than tap or even worse. Filter the chlorine if you prefer.

Bread: No WONDERful bread at No Frills this AM but lots of wraps. WONDERful bread at Dollarama. People need to start thinking outside the box. Buns, wraps, bagels, pitas etc are basically bread.

Sanitizer will be in short supply for a while but will eventually drop but not to former levels. Production will ramp up to cover.

Meats: Little in the way of fresh but lots of cold cuts, frozen, sausages. Lots of other (Better) ways of getting protein anyway.

Most fresh veggies were in supply.

Mid day lineups were minimal. I'm not self isolating but not over exposing either. I figure a once a week trip should keep us fed.
 
Trials said:
I can roughly translate that for you:
One thing he saw was some **** in your lungs,
and then there was this other **** in your lungs
and then there was this other **** in there that is so gross it made him stop counting.
Click to expand...

Not quite. Said he had to figure out which kind as they require different strategies.
 
Trials said:
Propane was just under 66 cents per litre delivered today (y) Canadian money !

... and I proudly paid my carbon tax so now I am going to turn down all the thermostats and light my wood fire :)
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You are getting raped do you buy from superior I pay 50c last year should be 35c now

Sent from my moto g(7) plus using Tapatalk
 
jc100 said:
grab an under sink filter.....one of the best things I did in the kitchen. Filters last for months
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A woman in Peterborough complained to the city about the water quality. Investigation found an under sink filter that had been there before she bought the house. It was gross.

I prefer Brita although it costs a bit more and takes up fridge space.
 
Trials said:
.... anybody have a guess why our dollar is taking such a dive? or do currency rates have nothing to do with numbers of sick people?
I figured they were going to freeze it where it was or something.
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oil.
 
Trials said:
That might have been the case last week, can't see that being the case now,
I thought the value of a countries currency was based on the strength of that countries economy? but maybe I'm wrong and it's based on the americium $
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Based on supply and demand which is also correlated to economic activity.
The USD is a safe haven, demand for it goes up, it costs more of other currencies, those currencies weaken against it.
Noone buying CDN oil, no demand for CAD to purchase oil, CAD weakens.
 
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