Quote:
Originally Posted by wave46
In a sense, debt makes a place appear more wealthy than it actually is for a short period.
We all know the people who appear to have it all, but are about one mortgage payment away from losing it all.
"Only when the tide goes out do you discover who's been swimming naked" goes the quote by Warren Buffett.
I don't think the exciting times end when COVID-19 is contained. The hurricane is bad, but cleaning up the mess isn't going to be fun either.
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I think we are going to see a real hit on taxes once this is all said and done. Alberta is no longer the land of milk and honey and someone is going to have to pay for the staggering EI claims and bailouts that both federal and provincial governments are going to have to give to both individuals and businesses.
I can't imagine how this is going to play out in Manitoba- but I just think of the recent job losses- Nygard and Palliser furniture shutting their doors and the sheer number of people out of work just from those two companies alone. And the biggest problem is that every province has been hit hard, so it's not like you can pull up and move somewhere else to find work.
I think there is a massive battle brewing between the provinces and feds when this is all done surrounding federal transfers and I think it will make or break leadership at both provincial and federal levels.