What does everyone do for work?

[Reef_Geek]

Originally Posted by Reef Pilot

Hmmm, wonder how much SW equipment would be up for sale if/when the energy boom ends in Alberta...

There would be a lot for sure, but equally, there would be very few people looking to buy. My aquariums would be the least of my worries if the sector tanked... as the economic impact of that would be so far reaching to businesses & lives beyond oil & gas, it'd be like the automotive industry bust in Ontario. People in the local area curb all their discretionary spending and can't find jobs. The cascading economic benefits of consumer spending is what economists call the multiplier effect--which would be all but wiped out.

As it is, I consider all my spending into aquariums as 'sunk costs' (ie it's not a value-retaining asset category and only worthy of salvage value)... just like cars.

[Reef Pilot]

Originally Posted by Reef_Geek

(ie it's not a value-retaining asset category and only worthy of salvage value)... just like cars.

Yup, that's another reason why I like airplanes (I have two floatplanes). Both are worth more than I have into them, as are my hangars. And they just keep going up in value. But we need more of you rich Albertans to keep that demand going...

[intarsiabox]

Originally Posted by Reef Pilot

Yup, that's another reason why I like airplanes (I have two floatplanes). Both are worth more than I have into them, as are my hangars. And they just keep going up in value. But we need more of you rich Albertans to keep that demand going...

There are a ton of workers from BC here in Alberta right now so you got lots of "rich" BC'ens helping out in that department too!

[Reef Pilot]

Originally Posted by intarsiabox

There are a ton of workers from BC here in Alberta right now so you got lots of "rich" BC'ens helping out in that department too!

Yes, that's true... And then they go retire in the Okanagan, with all the other Albertans. That area could be hit hard, too, esp house prices.

[intarsiabox]

Originally Posted by Reef Pilot

Yes, that's true... And then they go retire in the Okanagan, with all the other Albertans. That area could be hit hard, too, esp house prices.

That's not so bad, maybe then I can afford to move there when I retire!

[Reef_Geek]

Originally Posted by Reef Pilot

Yup, that's another reason why I like airplanes (I have two floatplanes). Both are worth more than I have into them, as are my hangars. And they just keep going up in value. But we need more of you rich Albertans to keep that demand going...

Will do our best!

Truth be told, everything goes in cycles... business, economy, stocks, real estate, fish poop...

[Reef Pilot]

Originally Posted by Reef_Geek

Truth be told, everything goes in cycles... business, economy, stocks, real estate, fish poop...

That used to be the thinking. Tell that to the people in Greece or Spain right now. Doesn't look like their current cycle is going to end anytime soon. And the US might be falling into that too.

Eventually that can gets too big to keep kicking down the road. Our best hope now is China, and other Asian countries.

[Reef_Geek]

Originally Posted by Reef Pilot

That used to be the thinking. Tell that to the people in Greece or Spain right now. Doesn't look like their current cycle is going to end anytime soon. And the US might be falling into that too.

Eventually that can gets too big to keep kicking down the road. Our best hope now is China, and other Asian countries.

actually, world powers are in cycles too. I guess not so much as a repeating cycle, but more like a 'product life cycle' (think of all the different generations of video game systems, Civics, TVs etc...) where one is replaced by another. Shifts in world powers (and economic dominance) has shifted since there were societies. Former world powers like Greece/Spartans, Incas, British Empire, Spanish, French... and at present USA (since post WWII). It sure looks like China, Latin America, India are on the rise.

There's a book on this, called Ascent of Money by Niall Ferguson

Conveniently, here it is 4 hours on YouTube

http://youtu.be/4Xx_5PuLIzc

[Reef Pilot]

Originally Posted by Reef_Geek

Conveniently, here it is 4 hours on YouTube

http://youtu.be/4Xx_5PuLIzc

4 hours!!! I am sure I could read the book faster... Have you listened to the whole thing, or read the book? Is it worth the time? Is it really enlightening, or just political, ideological, or academic? I don't like to waste 4 hours of my time (could be watching my fish instead). My airplane and fish mags are piling up, don't even have time to read all of them. Have to keep my priorities in order..., just saying...

[Reef_Geek]

Originally Posted by Reef Pilot

4 hours!!! I am sure I could read the book faster... Have you listened to the whole thing, or read the book? Is it worth the time? Is it really enlightening, or just political, ideological, or academic? I don't like to waste 4 hours of my time (could be watching my fish instead). My airplane and fish mags are piling up, don't even have time to read all of them. Have to keep my priorities in order..., just saying...

lol!

No, then I don't recommend you spending 4 hrs on it. It's very much like Economics 101. Nothing ground breaking here.