Mike's Spruce Grove Mortgage Blog

We Create Our Own Economy Thursday, October 24, 2019

Relax, because the sky is NOT falling.

Canadians are resiliant and creative.   Recent federal and provincial elections have given us all much to discuss.  Despite the impression that the East does not care about the West, it is simply a case of regional disparity.  When was the last time a Western Canadian joined in an East Coast fisheries protest? Why should that be a concern to a pipeline foreman in the West? We all have our own concerns to manage. 

There have been international trade challenges that affect every nation on earth. Farmers racing the weather, to get a majority of their crops into the bins...Railways at maximum capacity to get those crops to export, while juggling a growing number of oil tanker cars...cannabis producers growing new economies for medical and recreational needs...City districts revitalizing inner city cores... retailers evolving into a blend of on-line and store-front sellers... ALL I SEE ARE OPPORTUNITIES! The world is evolving and with every challenge comes a new opportunity to create a solution.  People point fingers at elected officials to get the economy rolling. Real economies improve when investors invest in well managed investments. 

I like what Todd Hirsh has to say. He is the chief economist from ATB Financial. Todd is in touch with Alberta and is also doing his best to get the message out there that Alberta is still open for business. Check out Todd's blog on The Owl, on ATB.com

Dale Koeller of Calvert Home Mortgage (a master mortgage lender) shared this story that seems to tie this all together.

 There is a long joke kicking around about the guy who goes to buy some expensive art, and he wants to celebrate so he orders a bottle of wine, and while he is waiting for the bottle to be delivered he begins to read the newspaper article about how the economy is really slowing.  He begins to get concerned so he says to the waiter that he’d like to order a less expensive bottle.  He mentions the article to the waiter.  The waiter goes back to the restaurant manager, mentions this lower price request, and that the customer says he reduced his order because of the economy.  The manager starts to consider this and decides he’d better put off that renovation he was thinking about doing in the restaurant… So he immediately calls his contractor to put him on hold.  The cell phone of the customer in the restaurant rings… he just lost a deal to quote on a major renovation!  He cancels the order of the cheaper bottle of wine. Moral… we are the economy.  While each individual is not the entire economy, just as you point out, we each play a part, and each of our actions have an effect on real people.  Just as each of us should consider our “why act” very carefully, we should also consider both sides of the ledger on ‘why not to act’.

posted by MIke Toporowsky at 10:32 am

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