Stock market hiccups

I

IronDuke

Ancient Mariner
So the Toronto Stock Exchange, Canada's main centre of high commerce, is in the shits today. It lost about CDN $90,000,000,000 in value just today (about 500 points lost, in all).
Apparently world markets have gone crazy today too. The US markets were closed due to the Martin Luther King Jr Day commemoration, but they're expected to tumble madly tomorrow morning.

So my question to you guys is this: Is this going to have an impact on how you go about your lives? Are you going to tighten your belts a bit "just in case" the downward trends continue (and I think they will) for a long time?

Me, I'm considering getting a cheaper (though slightly less convenient) apartment once my lease is up. I can afford the one I have now easily, but there are a few luxuries here that I don't need per se.
 
Honestly, for me, the answer is somewhere between 'no' and 'a little'. I know a 'recession' is supposed to be around the corner, and I know that the stock market has an effect on my personal economy, even though I don't have anything invested in it, however, I don't think I'm going to make many changes due to any of that.  I'll probably reduce my 'goof off' purchases (dvd's, movies, beer and burgers out on the town), but only a little. 
 
I've already vowed to cut back on needless commodity expenses, but I'm already living rather frugally.  If (when actually) my mom sells the house I'll just go back to a one bedroom sleeping bag existence... I kinda miss it. 
 
I have bought a new car last November and have a wedding to plan for (Jan. '09).  Besides this, I'm already on a tight budget.
 
Altrough we don't have direct involvement in the stock market, prices are comming up, affected by several other factors here as well. Meat is 25% up, everything grain-based went up, milk, electricity. Gas too.

Average life expenses are predicted to be 15-20% higher than before.

Nothing catastrophical, it won't leave a significant mark on our budget. But it'll surely leave one, thus like both wasted155 and Onhell stated, we'll cut back on commodities. (however we're switching for a cheaper and more competetive information provider (tv, phone, net) with better service, so we'll compensate there a bit).

In any case, the current situation doesn't bug me much as do trends here. Prices are constantly on the jump, while salaries are still.

So ask me again in a year, and you might get a completely different answer.
 
Zare said:
In any case, the current situation doesn't bug me much as do trends here. Prices are constantly on the jump, while salaries are still.
Click to expand...

Ain't that the truth...
 
IronDuke said:
Is this going to have an impact on how you go about your lives? Are you going to tighten your belts a bit "just in case" the downward trends continue (and I think they will) for a long time?
Click to expand...

No.

The belt is already pretty tight anyway.
 
No, probably no effect on the Netherlands. And if so, it should not be a huge problem.
At the moment the Netherlands have the lowest unemployment of the European Union, the lowest inflation of the European Union and the highest export our country ever had.

edit:
Thanks GK, I'm interested in cars (though more in older than new). I also have a Japanese car, a 2nd hand Nissan Primera from 1996.
 
You must log in or register to reply here.
Back
Top