Quote:
Originally Posted by dsaundry
Unfortunately the bank owns my house and shop for another 10 yrs or so,..... so should things go south, so to speak, I could lose everything. I have seen techs in my business that used to have no problem getting jobs collecting welfare because nobody is hiring, so while I freely admit that some are prospering I think the majority are treading water paycheck to paycheck.
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I kind of wonder how regional the persisting economic troubles are. In the Edmonton region there appears to be construction everywhere, the housing market is nearly what it used to be again, and at least in my industry, there's lots of hiring going on again. My sister lives in Toronto, and to hear her talk they're in a depresion out there.
I personally don't think that the economy will ever return to exactly what it was, but rather something different will emerge. It didn't all crash down because everything was running fine afterall. For instance, I don't think the oil and gas industry will ever be what it was here in Alberta again. We'll always have the industry, but you won't be able to stand in any given spot in the countryside and see 8 rigs going at once. The reason it all came down was that the industries in general were stuck in ruts, the companies that are prospering right now are the one's that have diversified and adapted, such as rjengen's employer's adoption of new tech.
As a buisiness person, there's oportunity everywhere right now if you're willing to adopt some change, on the other hand there's ample oportunity to fall on your face as well. That said, many people don't have a lot of control over stuff like that. I'm in consulting, and my field is very flexible, trades people and others who have a necessarily specialized line of work have to hope that their employers are making the right moves during this time of change to keep their companies afloat.