Quote:
Originally Posted by photon
So what would cause either of those two cards to be pulled. What economnic or political factors do you see causing the oil industry to turn down? What economic or political factors to you see causing housing to turn down?
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How about the rest of the country getting jealous of our ridiculous oil revenues and supporting Ottawa in hitting Alberta with NEP V2? That would do it.
Or they could just effectively shut down the oil sands by slapping all sorts of anti-CO2 emissions regulation on it. Then deny the province the option of using nuclear, even though Ontario is crawling with reactors...
There's lots of stuff that could go wrong, and it could happen pretty fast. Most of you are too young to remember the 18% interest rates in 1981, and the tsunami of foreclosures and bankruptcies. It could easily happen again. Just imagine a 1929 style stock market crash, in combination with a US dollar falling like a rock. Put all of Calgary's stock options under water, then jack the interest rates and PRESTO!!!
Good times. Not saying its going to happen. But it could...