Suncor Energy Inc. T.SU

DARK CLOUDS Are Moving Rapidly Over The WORLD Economy

[ztransforms173]

- ALMOST everywhere you LOOK, the OUTLOOK is PRETTY DEPRESSING both FINANCIALLY and ECONOMICALLY

- China, BIGGEST crude oil IMPORTER:

* DISASTROUS real estate LENDING & DEBT could TORPEDO entire FINANCIAL FRAMEWORK in China

- Europe:

* BOTH UK and Germany are in RECESSION and Russian SANCTIONS have SEVERELY DAMAGED the industrial MANUFACTURING BASE and DE-INDUSTRIALIZATION is GAINING MOMENTUM

- US, 25% of nominal GDP {strong USD} and 15% PPP (purchasing power parity) of world GDP

- Senile Joe SELF-DESTRUCTIVE POLICIES and Federal Reserve INTEREST RATE WARS have DECIMATED US DISPOSABLE INCOME and MASSIVELY OPPRESSED the SHRINKING middle class

- the INCOMING recession is going to be MUCH WORST and DEEP than the one in 2007-2009

z173

[ztransforms173]

better now: - the INCOMING recession is going to be MUCH WORST and DEEPER than the one in 2007-2009 z173

[Torontojay]

Hi Ztransforms, let's discuss why you think the recession will be worse than the GFC. I'm in the recession camp but I'm not confident to say just how deep it will be. I believe Canada is going to get it really hard this time around and it will be far worse than US.  I'll play devils advocate here.  mortgage interest costs as percentage of disposable personal income

[ztransforms173]

Torontojay - (10/3/2023 9:40:47 AM)   RE:RE:DARK CLOUDS Are Moving Rapidly Over The WORLD Economy   Hi Ztransforms, let's discuss why you think the recession will be worse than the GFC. - there answer is STARING RIGHT AT YOU - HIGHER OVERALL and OVERWHELMING INDEBTNESS across a WIDE SPECTRUM of the world economy - HUGE REDUCTION in world PRODUCTIVITY and CAPACITY WEAKENED

[mrbb]

call me tin foil hat if u want, note the highlighted 3 biggy dark clouds were man made, just under different time span

[bttmfischer]

I do agree with your argument. The federal government's fiscal resposibility was, and is dreadful. In addition, the largesse by which giving away money to countries we don't have, will make things un-managemble. Greece came close to bankruptcy a few years ago. They were lucky. The European Union bailed them out. Who will bail out us?  The U.S. is only in a slightly better shape

[Experienced]

Agreed.. In terms of a comparison of the US vs Canada here is a link which compares the two countries across a wide range of indicators....draw your own conclusions. https://www.nationmaster.com/country-info/compare/Canada/United-States/Economy/Debt

[Torontojay]

In a nutshell,  US has more public debt to gdp  Canada has MUCH higher private debt to gdp  US has a larger fiscal deficit to gdp.  US has positive real gdp  per capita  Canada has negative real gdp per capita    If only Americans knew how much more expensive Canadian homes are in comparison. They should stop complaining. 

[Experienced]

Jay..in terms of your last statement.. If Americans actually knew where Canada was, it would be a start...lol. Before Covid, I went to Arizona every year for about a dozen years.  If I met somebody new and they asked me where I lived and I told them, they had no clue where my city was located. I pay US income tax every year and file a 1040NR return.   My designation? Non resident

[Torontojay]

That's very funny experienced.  I guess we are aliens that live in igloos.