#37, #38, #40, #41, How to Protect your savings I sold my Condo in November and now sit on a pile a cash waiting for the great sinking. My RRSP is already full, but that is where I would have put some of my money first. I decided to open a questrade account – they are cheap and give you some money back if you decide to keep your money in Mututal Funds. I didn't like the idea of a private funds manager (they erode 1% of your capital every year) and storing it in the bank is just stupid (1% a year return on investment? If you include inflation, that again 1% erosion a year.) I'm not a trader so I decided to buy a few different mutual funds. My advice (from an anonymous coward) is stay away from… Read more »

@pricedoutfornow how did we get here? Many reasons- but one important reason was the decision by our "leaders" to restructure our economy in North America. We sent low-skill jobs to low-wage jurisdictions in exchange for cheap consumer products. All that was required was a minimum number of jobs and enough credit to fuel consumption and keep this model working. Of course, many of those who once filled these jobs are left out- the permanent underclass or 10-15% of the population who are "surplus". In Canada we give them welfare, in the US they end up in prison or in Iraq. Patriotz- you needn't go back that far to find a much more modest lifestyle. In the 1980s, (the decade that 20somethings pay homage to through their sense of fashion) I shared a room with my brother (gasp), and a vacation… Read more »

@bestplaceonmeth — unemployment is on the way up, perhaps way, way up in Vancouver. I talked to someone in a major roofing company the other day and he said his company is quickly running out of work, and so are many other companies. This is after a multi-year boom when they were constantly booked solid 6-8 mths in advance.

Also, bids on new contracts are so competitive and profit margins so low that companies who 'win' the bid will probably lose money, or break even at best. Essentially, the companies are just trying to keep their workers employed so that they don't lose skilled workers when the market picks up again. They haven't figured out yet that things aren't picking up again any time soon. The boom is over and it ain't coming back.

I hate to say it, but the bulls might be right about the weather and real estate. While standing in line today at the Aboriginal Village venue, I was chatting with 2 couples – one from NY and the other from Bellingham. We started talking about the real estate market, the city, and the weather. The New Yorkers literally said, "I guess everyone is going to want to live here." I proceeded to inform them that our real estate was more unaffordably than NY, that we had no 30 year fixed mortgages (they were extremely shocked), that our average incomes versus our average house price, that our CMHC insured mortgages were more than our national debt, and that rampant Olympic price gouging by soon to be reluctant landlords. The Bellingham couple actually said that their city thought they would be… Read more »

The backpeddling is going full steam. The 'own the podium' disaste has put undue pressure on the athletes (say the athletes) and many wonder about a backlash coming from the hangover from the hype.

So , is that why the IOC TV schills are talking down the whole issue now and instead attacking the 'outsiders?'

@patriotz:

Good point. Though these days many people only seem to have more because it's all financed by debt. When I was growing up I had friends whose families were poor, they had nothing, sometimes not even food in the fridge. But no debt (who would give someone so poor a credit card? Wouldn't happen!) These days I seem to know an awful lot of people who don't SEEM poor because they have a lot of stuff, take lots of vacations, and yet they're drowning in debt. So these people are even worse off than the families I knew who had nothing, because with the debt, they basically have less than nothing (ie. their net worth is negative if that makes any sense-it's the end of the day, I'm tired)

Vail is a top contender bidding for Whistler. I hope they buy it. A friend of mine has spent several years working at both Vail and Whistler, and says that Vail is run MUCH better. I think it must be, considering some of the experiences I've had at Whistler with staff who don't care, and poorly designed customer service (have you tried their system for renting skiis? The software is the worst designed I have ever seen. And software usability is my field).