Thursday, October 16, 2008

Troubling times

Though this blog is primarily about me building this boat and the adventures after, I can't help but comment on whats happening around me with regard to politics and the economy.
So as I expected, We had an election here in Canada, and voted for a minority Conservative government. So that means we'll have another election in about a year after the liberals choose a new leader, likely Micheal Ignatieff, or possibly Justin Trudeau (highly unlikely) or even Frank Mac.
South of me in the US... What can I say, their economy is about to hit a major recession or worse.
Their current government is spending like drunken sailors driving the country deeper in debt which is how the whole thing started in the first place, on a consumer level. And the winner of that election (Obama) will likely be blamed for the mess to follow. Tax increases that will be needed to pay for the "Stimulus packages" and there will likely be 2 or 3 versions of these money handouts, will make him more unpopular. He will be charged with the unhappy duty of fixing the huge mess with their debt and economy. And suffer politically for it. Best of luck to him.

But the US is no longer alone, many countries are trying to plug the hole in their banks. All the while their mere feet from the jagged rocks and the boat has no oars. (sorry I couldn't help myself). The Canadian economy will do a little better, but Oil and commodities are our strong and our weak points. So were in for a rough ride too. I wouldn't be surprised to see oil temporarily hit $60 a barrel. That will hurt the Oil Sands projects and people who work for them. Many from Newfoundland. Rough seas ahead I fear.
But I have a load of lumber, epoxy and plans to follow, I'm a contented builder.
That's my spin. But what do I know eh, I'm no economist.

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