06-13-2006, 07:08 PM
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#1
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Franchise Player
Join Date: Aug 2003
Location: Calgary, Alberta, Canada
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Dark Day In Financial Sectors
A lot of investors are going nuts today as almost everything you can possibly invest in, went down today.
To quote someone from a financial-related forum:
" WTF is going on?!!!
Everything is red it's a total blood bath.
NIKKEI Down again everything down. Is this the start of the Depression?"
 
Pretty horrible day all around. I hope no one lost everything today... I know some lost a lot.
__________________
Huge thanks to Dion for the signature!
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06-13-2006, 07:12 PM
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#2
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Franchise Player
Join Date: Mar 2002
Location: South of Calgary North of 'Merica
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bad freakin day to have money in natural resources...stupid natural resources.
Shake harder boy!!
__________________
Thanks to Halifax Drunk for the sweet Avatar 
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06-13-2006, 08:01 PM
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#3
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Franchise Player
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Now is the perfect time to buy!
They're all on sale!!!
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06-14-2006, 07:28 AM
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#5
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Lifetime Suspension
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If you liked it at $20.00 , you'll love it at $10.00. Worst day for the TSX in 2 years.
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06-14-2006, 07:44 AM
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#6
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Lifetime Suspension
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Quote:
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Originally Posted by albertGQ
Now is the perfect time to buy!
They're all on sale!!!
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haha! That's exactly how I feel too. Unfortuantely, I am not in the financial position to invest outside of RRSP's hence all of my investments are long term, so this is a fire sale as far as I'm concerned.
It's just a market corretion. Commodties will be fine until/unless we start hearing about falterings in India/China.
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06-14-2006, 08:46 AM
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#7
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Powerplay Quarterback
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Well, I'm not too happy about this. I'm about to cash out my RRSP's to use as a downpayment for our mortgage. We need the vendor to sign off on the purchase agreement before I can cash them out and in the last few days my RRSP's have dropped by about $500!!!! Now I'm going to have to find this money somewhere else. Grrrrr.
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06-14-2006, 09:02 AM
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#8
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Playboy Mansion Poolboy
Join Date: Apr 2004
Location: Close enough to make a beer run during a TV timeout
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So, does that mean you've found a place Shane?
If so, that's awesome news! 
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06-14-2006, 09:41 AM
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#10
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Powerplay Quarterback
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Yes, turns out we were able to get a mortgage for the place we were renting. Closing date is set for June 30th. It's good because we won't have any costs involved with moving.
Quote:
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Originally Posted by ken0042
So, does that mean you've found a place Shane?
If so, that's awesome news! |
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06-14-2006, 09:45 AM
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#11
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Franchise Player
Join Date: Jul 2005
Location: in your blind spot.
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Quote:
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Originally Posted by shane_c
Yes, turns out we were able to get a mortgage for the place we were renting. Closing date is set for June 30th. It's good because we won't have any costs involved with moving.
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Now you can join the rest of us in wondering why we go to work when our houses earn more in a year than we do!
__________________
"The problem with any ideology is that it gives the answer before you look at the evidence."
—Bill Clinton
"The greatest obstacle to discovery is not ignorance--it is the illusion of knowledge."
—Daniel J. Boorstin, historian, former Librarian of Congress
"But the Senator, while insisting he was not intoxicated, could not explain his nudity"
—WKRP in Cincinatti
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06-14-2006, 09:54 AM
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#12
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Ben
Join Date: Jan 2004
Location: God's Country (aka Cape Breton Island)
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how can it be a dark day, red is so much brigher than black.
When I think darkness, I think black 
__________________
"Calgary Flames is the best team in all the land" - My Brainwashed Son
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06-14-2006, 10:14 AM
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#13
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Scoring Winger
Join Date: Feb 2006
Location: Regina SK
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My wedding fund has dropped about $500 in the past month or so... Oh well, could be worse.
My RRSP's have gone down around $2k, but I don't really care too much as I don't need them for 25 years or so.
Might be a good time to buy right now... Any gains from the past year have been negated. After all, its good to buy low!
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06-14-2006, 10:41 AM
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#14
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Safari Stan
Join Date: Oct 2001
Location: 3rd trailer on the left
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Quote:
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Originally Posted by shane_c
Yes, turns out we were able to get a mortgage for the place we were renting. Closing date is set for June 30th. It's good because we won't have any costs involved with moving.
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Congrats Shane.... Nice little place you got there.
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06-14-2006, 10:53 AM
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#15
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Scoring Winger
Join Date: Sep 2003
Location: Drunk tank
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It's insane. I just put an extra 6000 into my RRSP last week and the value has dropped 2500. The kicker is I took that 6000 from selling stock and the stock hasn't dropped at all.
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06-14-2006, 12:40 PM
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#16
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Playboy Mansion Poolboy
Join Date: Apr 2004
Location: Close enough to make a beer run during a TV timeout
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So you are the SOB responsible for that. 
I had to do a double take when I checked rates this week. My mortgage comes up at the end of the year.
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06-14-2006, 03:07 PM
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#17
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Franchise Player
Join Date: Mar 2002
Location: South of Calgary North of 'Merica
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Quote:
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Originally Posted by ken0042
So you are the SOB responsible for that.
I had to do a double take when I checked rates this week. My mortgage comes up at the end of the year. |
actually spoke with the bank yesterday about mortgage rates and she said the bank figured this would be as high as it goes and will begin to drop shortly
Take it with a grain of salt as she also said that they are doing it to spur the economy  .
__________________
Thanks to Halifax Drunk for the sweet Avatar
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06-14-2006, 04:02 PM
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#18
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#1 Goaltender
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Although the Bank of Canada has claimed that it will not proceed to increase the key rate any time in the near future, I think that if inflation continues to increase at its current rate, they will be forced to continue the increase in the rate.
From what I have read the US has no plans in stopping the rate increases.
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