Recession.

This forum has been developed to discuss aviation related topics.

Moderators: lilfssister, North Shore, ahramin, sky's the limit, sepia, Sulako, I WAS Birddog

User avatar
rookiepilot
Rank (9)
Rank (9)
Posts: 1975
Joined: Sat Apr 01, 2017 3:50 pm

Re: Recession.

Post by rookiepilot »

BigQ wrote: Tue Mar 05, 2019 5:00 pm Everyone here trying to point the finger to what will cause the recession. Think we can all agree our leaders are [censored] pieces of [censored].

Nobody mentioning how pilots and other users of these forums can make themselves recession-proof, or at least remove the sting when it happens.

I, for one, list the following suggestions:

Get rid of un-backed debt. Credit Cards, Car Loans, Personal Lines of Credit, they have to go. Have an emergency fund. As close to 3-6 months' income.
Diversify skills. Whether its taking on a new Type Rating, or take on a hobby with a possibility to create income from it. Watch home improvement videos on youtube instead of cat videos. Plant a frickin garden. Listen to podcasts instead of Virgin Radio.
Build Community. Try to meet your neighbours. Find ways you might be able to barter should the going get tough. Get involved in local clubs. Trade beers for work.
Watch volume and price action on the S&P500 and TSX60. Sell over-performing assets and increase cash allocations in investments for quick access to cash and/or opportunities to buy.
Make a budget. One for good times and one for bad times. Try to find ways you can make your good time budget closer to bad times budget without sacrificing quality of life. Do you REALLY need a 200 channel cable bill? Netflix that sh*t.
Move to a less taxed jurisdiction. Houses tend to be cheaper, with more backyard space, and tax return tends to be bigger. E.g. move to YOW vs YUL, or YCD vs YVR. Taxation is theft, government doesn't own you. Higher taxed areas will recover more slowly, because big government is less nimble to change.

Any more ideas people want to add?
Get rid of all debt ex mortgage, removes a ton of stress........then pay down that house agressively when the rich paychecks happen.
---------- ADS -----------
 
digits_
Rank 11
Rank 11
Posts: 3088
Joined: Mon Feb 14, 2011 2:26 am

Re: Recession.

Post by digits_ »

C.W.E. wrote: Tue Mar 05, 2019 6:54 pm
- Don't consider the house you live in an investment.
So after building and living in my house for the last thirty nine years if I decide to sell it and use the money for my own personal pleasure in my last few remaining years the house was not an investment?
I don't think it was.

I see an investment as something you do with your savings/spare money that you don't need at the moment, in an attempt to have more money later. I see it as a distant, ideally emotionless, transaction that you execute based on facts and expectations. It doesn't affect your life/lifestyle. Selling and buying stock would be one example.

You will always need a place to live. So you can't really sell your house when you think it is a good time in the market to sell it. You can't make money of your house without a significant change in your life or lifestyle. If the value of your house went up, there is a big chance the value of the other houses in your neighbourhood went up as well. The only way to make money of your house at that point would be to move to a smaller house, or move to a different town/city. Both these options significantly affect your lifestyle.

Not that there is something wrong with selling your big house and moving into a smaller one for retirement and enjoy the money you made in the transaction, but that doesn't look like an investment to me. It's more of a budget decision: saving on housing costs (mortage/rent/upkeep/...)

The big danger I see, is that people who own a 400k house consider themselves as having an investment portfolio valued at 400k. That's simply not true. It's a fake value. No matter what you do, you still have to live somewhere, so you'll never be able to get that 400k out of your house. Ever.

Someone who has a 400k stock portfolio, for comparison, can invest that 400k in something else if a better opportunity comes along. The guy with the 400k house won't be able to.

And yes, you can get an extra mortgage on your 400k house to get roughly 400k to build a stock portfolio, but if you are expecting a recession, with the possibility of losing your job, or at least a significant pay cut, then getting into more debt doesn't seem like the smartest choice.

To summarize, someone who owns a 200k house and has a 200k investment portfolio will be better off in a recession than someone who owns a 400k house.
---------- ADS -----------
 
As an AvCanada discussion grows longer:
-the probability of 'entitlement' being mentioned, approaches 1
-one will be accused of using bad airmanship
User avatar
rookiepilot
Rank (9)
Rank (9)
Posts: 1975
Joined: Sat Apr 01, 2017 3:50 pm

Re: Recession.

Post by rookiepilot »

https://www.forexlive.com/centralbank/! ... d-20190306

Bank of Canada this morning. Canadian dollar crushed and Canadian bonds to the moon.

No recession coming, though. Gotcha.
---------- ADS -----------
 
Zaibatsu
Rank 7
Rank 7
Posts: 536
Joined: Sat Sep 17, 2016 8:37 am

Re: Recession.

Post by Zaibatsu »

Maybe yes. Maybe no.

Maybe it doesn’t matter to 90% of us.

Demographics is driving our sector as people retire and want to use their wealth to travel. Wealth that isn’t dependent on jobs and likely not put in one basket like the energy sector or even Canadian holdings.

The economy doesn’t shut down because of a recession. A recession is based on averages so businesses can experience growth during a recession. Sometimes significant growth. With the amount of attrition in our industry the difference will be fewer ads and higher requirements, not layoffs and bankruptcies.

The only people who are going to be affected are the money changers and the snake oil salesmen and those who are over leveraged because of the confidence game they play.
---------- ADS -----------
 
C.W.E.
Rank (9)
Rank (9)
Posts: 1262
Joined: Mon Dec 18, 2017 2:22 pm

Re: Recession.

Post by C.W.E. »

The big danger I see, is that people who own a 400k house consider themselves as having an investment portfolio valued at 400k. That's simply not true. It's a fake value. No matter what you do, you still have to live somewhere, so you'll never be able to get that 400k out of your house. Ever.
Interesting comments.

So lets look closer at this.

I am living in a house that is at least twice as big as I need and it has a fairly high up keep yard and a big deck over looking a lake three hundred feet below me so the view is fantastic.

When the time comes for me to down size or go into an old age retirement home what do I do with my house?

As to having to live somewhere that will be no problem money wise as I have been retired since 2005 with a guaranteed retirement income that has a cost of living increase as time passes.

So when I decide to down grade what should I do with the house?

Or the money I would get if I sell it?

By the way my house is worth far more than 400k.....far more.
---------- ADS -----------
 
User avatar
rookiepilot
Rank (9)
Rank (9)
Posts: 1975
Joined: Sat Apr 01, 2017 3:50 pm

Re: Recession.

Post by rookiepilot »

Zaibatsu wrote: Wed Mar 06, 2019 9:26 am
Maybe it doesn’t matter to 90% of us.

A recession is based on averages so businesses can experience growth during a recession. Sometimes significant growth.

The only people who are going to be affected are the money changers and the snake oil salesmen and those who are over leveraged because of the confidence game they play.
A recession won't affect the jobs or finances of most people, even the pilot community?

Now that's amusing. Good luck with that one.


Think I'll share that on the investment Twitfin and get some laughs
---------- ADS -----------
 
Last edited by rookiepilot on Wed Mar 06, 2019 3:15 pm, edited 1 time in total.
User avatar
YYZSaabGuy
Rank 8
Rank 8
Posts: 802
Joined: Wed Aug 04, 2010 7:32 am
Location: On glideslope.

Re: Recession.

Post by YYZSaabGuy »

Zaibatsu wrote: Wed Mar 06, 2019 9:26 am With the amount of attrition in our industry the difference will be fewer ads and higher requirements, not layoffs and bankruptcies.
"Honey, I think I'm going to go long a bunch of airline stock because they never take it on the chin in a recession." Said no one, ever.

https://business.financialpost.com/tran ... ional-bank

Zaibatsu wrote: Wed Mar 06, 2019 9:26 am The only people who are going to be affected are the money changers and the snake oil salesmen and those who are over leveraged because of the confidence game they play.
I'm sure that'll come as a surprise to the 400,000 Canadians who lost their jobs during the last recession:

https://www150.statcan.gc.ca/n1/pub/75- ... 48-eng.htm
---------- ADS -----------
 
digits_
Rank 11
Rank 11
Posts: 3088
Joined: Mon Feb 14, 2011 2:26 am

Re: Recession.

Post by digits_ »

C.W.E. wrote: Wed Mar 06, 2019 2:27 pm
The big danger I see, is that people who own a 400k house consider themselves as having an investment portfolio valued at 400k. That's simply not true. It's a fake value. No matter what you do, you still have to live somewhere, so you'll never be able to get that 400k out of your house. Ever.
Interesting comments.

So lets look closer at this.

I am living in a house that is at least twice as big as I need and it has a fairly high up keep yard and a big deck over looking a lake three hundred feet below me so the view is fantastic.

When the time comes for me to down size or go into an old age retirement home what do I do with my house?

As to having to live somewhere that will be no problem money wise as I have been retired since 2005 with a guaranteed retirement income that has a cost of living increase as time passes.
Sell it and enjoy the money, or spend it on a super fancy retirement home. You are "at the end of the line" financially so to speak. There won't be any big financial surprises anymore that affect you. That doesn't mean it is smart for the majority of Canadians to consider their house an investment. It just isn't.

Invest in other things first, and if you really really don't know what to do with your big pile of money, then sure, spend it on your house. But if a recession hits, and you have invested "everything" in your house, I think it could turn out pretty badly.
---------- ADS -----------
 
As an AvCanada discussion grows longer:
-the probability of 'entitlement' being mentioned, approaches 1
-one will be accused of using bad airmanship
User avatar
confusedalot
Rank 8
Rank 8
Posts: 918
Joined: Fri Jul 03, 2009 9:08 pm
Location: location, location, is what matters

Re: Recession.

Post by confusedalot »

Ummh.......in a weak little voice squeak attempt to get back on track, can anybody point to why a recession is looming?

I went through a bunch of them and I know how they look.

I don't see any of that now. Everything is growing, contrary to witnessing everything wilting, in the past.

I ain't no rocket surgeon so help if you can.
---------- ADS -----------
 
Attempting to understand the world. I have not succeeded.

veni, vidi,...... vici non fecit.

:?
User avatar
rookiepilot
Rank (9)
Rank (9)
Posts: 1975
Joined: Sat Apr 01, 2017 3:50 pm

Re: Recession.

Post by rookiepilot »

confusedalot wrote: Wed Mar 20, 2019 4:59 pm
I went through a bunch of them and I know how they look.

I don't see any of that now. Everything is growing, contrary to witnessing everything wilting, in the past.
OK.

Internet attention span is confirmed.

When it's obvious, things will look quite different.
---------- ADS -----------
 
Zaibatsu
Rank 7
Rank 7
Posts: 536
Joined: Sat Sep 17, 2016 8:37 am

Re: Recession.

Post by Zaibatsu »

YYZSaabGuy wrote: Wed Mar 06, 2019 3:02 pm
Zaibatsu wrote: Wed Mar 06, 2019 9:26 am With the amount of attrition in our industry the difference will be fewer ads and higher requirements, not layoffs and bankruptcies.
"Honey, I think I'm going to go long a bunch of airline stock because they never take it on the chin in a recession." Said no one, ever.

https://business.financialpost.com/tran ... ional-bank
Those who bet on Westjet during the post 9-11 era did very well. Obviously someone said, ever. No risk, no rewards. Maybe bonds are more your thing.
Zaibatsu wrote: Wed Mar 06, 2019 9:26 am The only people who are going to be affected are the money changers and the snake oil salesmen and those who are over leveraged because of the confidence game they play.
I'm sure that'll come as a surprise to the 400,000 Canadians who lost their jobs during the last recession:

https://www150.statcan.gc.ca/n1/pub/75- ... 48-eng.htm
[/quote]

That isn’t even the last recession, and those who had money put away and a skill set came away clean. The 2009 recession didn’t affect me or anyone I knew in aviation, and that was the year I started my first flying job. Probably because it was primarily a US housing market, auto sector, finance sector recession.

How many of those unemployed simply left work at Chrysler or GM and came back to work at Fiat or the new GM?
---------- ADS -----------
 
SkySailor
Rank 3
Rank 3
Posts: 131
Joined: Mon Jun 22, 2009 7:49 pm

Re: Recession.

Post by SkySailor »

confusedalot wrote: Wed Mar 20, 2019 4:59 pm Ummh.......in a weak little voice squeak attempt to get back on track, can anybody point to why a recession is looming?

I went through a bunch of them and I know how they look.

I don't see any of that now. Everything is growing, contrary to witnessing everything wilting, in the past.

I ain't no rocket surgeon so help if you can.
"Rocket surgeon"? :D Confused, has this topic really messed you up, or am I unfamiliar with the new lingo? I've heard of brain surgeon and rocket scientist, but........

Fiscal responsibility seems to have evaporated in the western world. I'm starting to think the average voter doesn't even know what that means. We are becoming slaves to perpetual deficit spending. It's a non-stop sugar high. Just like huge companies or international banks that become too large to fail, the masses of indebted people will walk away after default unscathed (because on paper, they're worthless), while the diligent savers (if they are sitting on ONLY CASH), will be wiped out. Public opinion will turn on them. Because they were financially prudent, they will be the new scapegoats.

How long can the world keep writing cheques on over drawn accounts? When it goes bust, what protection will one use to retain the value of their assets? (and don't say cash :roll: . You just don't get it.) .- that far-more-than-400,000 house of yours, in my humble opinion, is an investment. Even if it becomes worthless, ya still got a paid off roof over your head. As opposed to say, cash, which could also become worthless with a stroke of a pen from the current bright lights in Ottawa. Course, you already know this. So perhaps I'm saying this for the others.... BTW, if you do decide on greener pastures down the road, and liquidate that 400,000 pluser, I could provide you with questionable financial advice for say...... 25 G per year?! :lol:

This is not a paid advertisement, and has absolutely nothing to do with aviation!
---------- ADS -----------
 
User avatar
confusedalot
Rank 8
Rank 8
Posts: 918
Joined: Fri Jul 03, 2009 9:08 pm
Location: location, location, is what matters

Re: Recession.

Post by confusedalot »

SkySailor wrote: Wed Mar 20, 2019 6:46 pm
confusedalot wrote: Wed Mar 20, 2019 4:59 pm Ummh.......in a weak little voice squeak attempt to get back on track, can anybody point to why a recession is looming?

I went through a bunch of them and I know how they look.

I don't see any of that now. Everything is growing, contrary to witnessing everything wilting, in the past.

I ain't no rocket surgeon so help if you can.
"Rocket surgeon"? :D Confused, has this topic really messed you up, or am I unfamiliar with the new lingo? I've heard of brain surgeon and rocket scientist, but........

Fiscal responsibility seems to have evaporated in the western world. I'm starting to think the average voter doesn't even know what that means. We are becoming slaves to perpetual deficit spending. It's a non-stop sugar high. Just like huge companies or international banks that become too large to fail, the masses of indebted people will walk away after default unscathed (because on paper, they're worthless), while the diligent savers (if they are sitting on ONLY CASH), will be wiped out. Public opinion will turn on them. Because they were financially prudent, they will be the new scapegoats.

How long can the world keep writing cheques on over drawn accounts? When it goes bust, what protection will one use to retain the value of their assets? (and don't say cash :roll: . You just don't get it.) .- that far-more-than-400,000 house of yours, in my humble opinion, is an investment. Even if it becomes worthless, ya still got a paid off roof over your head. As opposed to say, cash, which could also become worthless with a stroke of a pen from the current bright lights in Ottawa. Course, you already know this. So perhaps I'm saying this for the others.... BTW, if you do decide on greener pastures down the road, and liquidate that 400,000 pluser, I could provide you with questionable financial advice for say...... 25 G per year?! :lol:

This is not a paid advertisement, and has absolutely nothing to do with aviation!
He he he :lol:

Thanks, it helps my little old brain to make sense of things. The house thing though is not me, and even I have a roof that is worth twice as much, but it means squat. You are still stuck in a stupid overpriced market so there really is no value. You need to live somewhere.

But really, whereas I lived in a world where cash was king, cash is now trash.

BUT.......it appears that the current wave of perpetual debt seems to create even more wealth?

So......rocket surgeon (read sarcasm) is still confused.

Boy, I am getting old.......
---------- ADS -----------
 
Attempting to understand the world. I have not succeeded.

veni, vidi,...... vici non fecit.

:?
SkySailor
Rank 3
Rank 3
Posts: 131
Joined: Mon Jun 22, 2009 7:49 pm

Re: Recession.

Post by SkySailor »

confusedalot wrote: Wed Mar 20, 2019 7:15 pm
SkySailor wrote: Wed Mar 20, 2019 6:46 pm
confusedalot wrote: Wed Mar 20, 2019 4:59 pm Ummh.......in a weak little voice squeak attempt to get back on track, can anybody point to why a recession is looming?

I went through a bunch of them and I know how they look.

I don't see any of that now. Everything is growing, contrary to witnessing everything wilting, in the past.

I ain't no rocket surgeon so help if you can.
"Rocket surgeon"? :D Confused, has this topic really messed you up, or am I unfamiliar with the new lingo? I've heard of brain surgeon and rocket scientist, but........

Fiscal responsibility seems to have evaporated in the western world. I'm starting to think the average voter doesn't even know what that means. We are becoming slaves to perpetual deficit spending. It's a non-stop sugar high. Just like huge companies or international banks that become too large to fail, the masses of indebted people will walk away after default unscathed (because on paper, they're worthless), while the diligent savers (if they are sitting on ONLY CASH), will be wiped out. Public opinion will turn on them. Because they were financially prudent, they will be the new scapegoats.

How long can the world keep writing cheques on over drawn accounts? When it goes bust, what protection will one use to retain the value of their assets? (and don't say cash :roll: . You just don't get it.) .- that far-more-than-400,000 house of yours, in my humble opinion, is an investment. Even if it becomes worthless, ya still got a paid off roof over your head. As opposed to say, cash, which could also become worthless with a stroke of a pen from the current bright lights in Ottawa. Course, you already know this. So perhaps I'm saying this for the others.... BTW, if you do decide on greener pastures down the road, and liquidate that 400,000 pluser, I could provide you with questionable financial advice for say...... 25 G per year?! :lol:

This is not a paid advertisement, and has absolutely nothing to do with aviation!
He he he :lol:

Thanks, it helps my little old brain to make sense of things. The house thing though is not me, and even I have a roof that is worth twice as much, but it means squat. You are still stuck in a stupid overpriced market so there really is no value. You need to live somewhere.

But really, whereas I lived in a world where cash was king, cash is now trash.

BUT.......it appears that the current wave of perpetual debt seems to create even more wealth?

So......rocket surgeon (read sarcasm) is still confused.

Boy, I am getting old.......
I still think you should take a second look at part time truck driving! Look for some carriers that actually pay better rates. Sounds like ones around your area had lousy rates!
---------- ADS -----------
 
User avatar
YYZSaabGuy
Rank 8
Rank 8
Posts: 802
Joined: Wed Aug 04, 2010 7:32 am
Location: On glideslope.

Re: Recession.

Post by YYZSaabGuy »

Zaibatsu wrote: Wed Mar 20, 2019 6:09 pm
YYZSaabGuy wrote: Wed Mar 06, 2019 3:02 pm
Zaibatsu wrote: Wed Mar 06, 2019 9:26 am With the amount of attrition in our industry the difference will be fewer ads and higher requirements, not layoffs and bankruptcies.
"Honey, I think I'm going to go long a bunch of airline stock because they never take it on the chin in a recession." Said no one, ever.

https://business.financialpost.com/tran ... ional-bank
Those who bet on Westjet during the post 9-11 era did very well. Obviously someone said, ever. No risk, no rewards. Maybe bonds are more your thing.
Look: Westjet is one airline within the larger airline industry, which is what we were talking about. And the airline industry, as represented by the NYSE ARCA Airline Index (XAL) incurred massive losses during the last two recessions: GFC, December 2007 to June 2009, down 68% peak to trough, and the early 2000s recession, March through November 2001, down 57% peak to trough (price return basis).

Westjet, since you bring it up, is hardly immune. It lost 59% peak to trough during the GFC, and 47% peak to trough during the March through November 2001 recession. Re the post 9-11 era as a whole: your comment illustrates that you can data-mine any result you want. Yes, there were periods Westjet stock performed well, and there were periods where it significantly underperformed the broader market. Have a look at the charts for March 2005 - August 2006, off 38%, for December 2014 to February 2016, off 56%, and for December 2014 through YTD 2019, off 43% (price return basis).

My point was simply that airline stocks are not necessarily where you want to be if you are concerned about recession risk, as the Fed pretty clearly is. Naively, I didn't think that was going to be an especially controversial position.
Zaibatsu wrote: Wed Mar 06, 2019 9:26 am The only people who are going to be affected are the money changers and the snake oil salesmen and those who are over leveraged because of the confidence game they play.
YYZSaabGuy wrote: Wed Mar 06, 2019 3:02 pm I'm sure that'll come as a surprise to the 400,000 Canadians who lost their jobs during the last recession:

https://www150.statcan.gc.ca/n1/pub/75- ... 48-eng.htm
Zaibatsu wrote: Wed Mar 06, 2019 9:26 am That isn’t even the last recession, and those who had money put away and a skill set came away clean. The 2009 recession didn’t affect me or anyone I knew in aviation, and that was the year I started my first flying job. Probably because it was primarily a US housing market, auto sector, finance sector recession. How many of those unemployed simply left work at Chrysler or GM and came back to work at Fiat or the new GM?
In fact, 2007 - 2009 was the last recession, at least for every banker, investor, money manager, economist and Central Banker in the business. Maybe history should be your thing? :D I'm happy it worked out well for you, but don't make the mistake of extrapolating your personal experience onto the broader industry (or the economy). The GFC was a train wreck for millions of folks, not all of whom were money changers (?), snake oil salesmen (?), or people playing confidence games (I'm not sure how being over-leveraged is a confidence game, at least not in the usual sense of that term, and I'm pretty sure you aren't either). It was not confined to the U.S. - it included most developed economies globally and had follow-on impacts everywhere. It is generally considered to have been the worst recession since the 1930s. Operationally you may not have noticed it, but airline stocks (which is where the discussion started) absolutely did.

Now, if you've got an edge that you think lets you take on that trade profitably, on a risk-adjusted basis, then by all means fill your boots and let us know how it works out. (Note: edited lightly once for miswording).
---------- ADS -----------
 
User avatar
confusedalot
Rank 8
Rank 8
Posts: 918
Joined: Fri Jul 03, 2009 9:08 pm
Location: location, location, is what matters

Re: Recession.

Post by confusedalot »

SkySailor wrote: Wed Mar 20, 2019 8:10 pm
confusedalot wrote: Wed Mar 20, 2019 7:15 pm
SkySailor wrote: Wed Mar 20, 2019 6:46 pm

"Rocket surgeon"? :D Confused, has this topic really messed you up, or am I unfamiliar with the new lingo? I've heard of brain surgeon and rocket scientist, but........

Fiscal responsibility seems to have evaporated in the western world. I'm starting to think the average voter doesn't even know what that means. We are becoming slaves to perpetual deficit spending. It's a non-stop sugar high. Just like huge companies or international banks that become too large to fail, the masses of indebted people will walk away after default unscathed (because on paper, they're worthless), while the diligent savers (if they are sitting on ONLY CASH), will be wiped out. Public opinion will turn on them. Because they were financially prudent, they will be the new scapegoats.

How long can the world keep writing cheques on over drawn accounts? When it goes bust, what protection will one use to retain the value of their assets? (and don't say cash :roll: . You just don't get it.) .- that far-more-than-400,000 house of yours, in my humble opinion, is an investment. Even if it becomes worthless, ya still got a paid off roof over your head. As opposed to say, cash, which could also become worthless with a stroke of a pen from the current bright lights in Ottawa. Course, you already know this. So perhaps I'm saying this for the others.... BTW, if you do decide on greener pastures down the road, and liquidate that 400,000 pluser, I could provide you with questionable financial advice for say...... 25 G per year?! :lol:

This is not a paid advertisement, and has absolutely nothing to do with aviation!
He he he :lol:

Thanks, it helps my little old brain to make sense of things. The house thing though is not me, and even I have a roof that is worth twice as much, but it means squat. You are still stuck in a stupid overpriced market so there really is no value. You need to live somewhere.

But really, whereas I lived in a world where cash was king, cash is now trash.

BUT.......it appears that the current wave of perpetual debt seems to create even more wealth?

So......rocket surgeon (read sarcasm) is still confused.

Boy, I am getting old.......
I still think you should take a second look at part time truck driving! Look for some carriers that actually pay better rates. Sounds like ones around your area had lousy rates!
:lol: Thanks skysailor. Good to see that some people have a sense of humor.

As far as driving a rig is concerned, the only guys making dollars are hugely experienced people doing specialized jobs. Newcomers don't make that, much like the airplane driver routine.

But hey, cruising around, on a part time basis mind you, still carries some appeal. Never been out to conquer the world and never been out to be "holier than though".

Cheers
---------- ADS -----------
 
Attempting to understand the world. I have not succeeded.

veni, vidi,...... vici non fecit.

:?
User avatar
C-GGGQ
Rank (9)
Rank (9)
Posts: 1752
Joined: Mon May 21, 2007 12:33 pm

Re: Recession.

Post by C-GGGQ »

As a trucker who normally would say it pays way better than most 703 gigs even in the first year pays more than jazz first year pays more than AC first-year. However that's the case of you stay out on the road 22+ days a month and I'm currently in a truck stop without even a trailer hooked to me cause dispatch can pull their head out of their butt. I'm very much looking forward to my imminent pay cut to Navajo FO where I get to be home every night.
---------- ADS -----------
 
dhc#
Rank 6
Rank 6
Posts: 436
Joined: Sun May 05, 2013 7:38 am

Re: Recession.

Post by dhc# »

---------- ADS -----------
 
SkySailor
Rank 3
Rank 3
Posts: 131
Joined: Mon Jun 22, 2009 7:49 pm

Re: Recession.

Post by SkySailor »

C-GGGQ wrote: Thu Mar 21, 2019 6:28 pm As a trucker who normally would say it pays way better than most 703 gigs even in the first year pays more than jazz first year pays more than AC first-year. However that's the case of you stay out on the road 22+ days a month and I'm currently in a truck stop without even a trailer hooked to me cause dispatch can pull their head out of their butt. I'm very much looking forward to my imminent pay cut to Navajo FO where I get to be home every night.
So you're willing to accept a substantial pay cut to return to aviation. Just curious if you have considered the length of time you are willing to take the loss until hopefully, you advance above what you currently make in truck driving. If the industry goes for a crap, will you walk away from aviation yet again, and accept the middle class income stability of transport driving? I certainly agree long haul driving is a major stumbling block to driver retention in the industry, but a career in aviation doesn't exactly impress upon me visions of 30 year same postal code, marital/family bliss, and financial freedom.
---------- ADS -----------
 
User avatar
C-GGGQ
Rank (9)
Rank (9)
Posts: 1752
Joined: Mon May 21, 2007 12:33 pm

Re: Recession.

Post by C-GGGQ »

Trucking full time keeps you away 24-26 days a month. Most pilots here complain about 15. At 15 days a month you're only gonna make ~40k (this assumes you work for a place that will allow you to work less than 22). Trucking has had a substantial detriment to my overall health and happiness. I had originally considered trucking part time to make up some extra but these last few trips have impressed upon me that I am done with this life. The wife and I have tightened the budget and will make it work.
---------- ADS -----------
 
Last edited by C-GGGQ on Sat Mar 23, 2019 12:15 pm, edited 1 time in total.
Post Reply

Return to “General Comments”