People I meet through my business always ask for my opinion on the economy and whats going to happen. I am just like President Bush. I am just like Prime Minister Harper. I have no clue. I can not tell you we are going to be ok. I can not tell you that there is a rainbow around the corner. My feeling is we will be ok. Alberta is in good shape. We have the oil field first and foremost but we are very diversified that we can take a hit on exports and still be ok. As Albertans we should be worried but are in a safer spot than others. I think we should be thankful that we are not going through the stuff our friends in the US are going through. They are going through a mess that will make them stronger, eventually. Alberta is one of the few provinces/states right now that is banking money instead of losing it. I think we should be proactive in the development of new fuels and new energies. We should not allow the rest of the world to live in uncertainity while we live in prosperity but we should also realize that the world is going greener and a few new sources of energy could keep us one of the energy giants of the world. Now is not the time to sit back and hope things turn around, now is the time to be proactive and create a bigger wealth for Albertans which is going to create a better world for all mankind. Remember the immortal words of Warren Buffett "Be greedy when others are fearful and be fearful when others are greedy". Remember this is just my opinion. Have a great day.
Hi Ken,
Interesting Blog, I must agree Alberta is in good shape compared to a number of places including the rest of Canada. Even though we are doing well now, we certainly can't afford to be cocky. It would take but a sneeze from the Federal Government and I believe our Premier would cave to the pressure, so I'm not sure how secure our Oil future is. Combine that thought with the fact, that the Oil Companies are slowly cutting back and capping a number of well sites until the price of oil goes up and we could hurt before we spray champaign.
All that being said, it appears to me that our housing market had to adjust in Alberta after the huge price increases two years ago. We are living through that adjustment right now. It is my hope that we will be looking at a level market by Mid february 2009, but then, what do I know, my crystal ball is all fogged up and has a huge crack in it from my last prediction LOL.
Bill
Hi Bill, thanks for your comments. I hope your crystal ball is clearing because mine says the same thing. I think the market will turn in early spring, as long as everything works in Albertas favor. I truly believe we will be fine, but as I said in an earlier posting I think Alberta should be putting money into developing a new energy source. Lets hope we are correct in our prediction because there is way to much uncertainity in our clients lives right now and around the world.
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