Recession incoming

[flyingcanuck]

Spending IS the economy. You are so off base it isn't funny. Investing is usually just hording, dead money, useless to anybody.

I think that what they're saying is in a recession it would not be as bad because people would have savings vs spending it all. So I guess that means if we spend more we have greater good times but greater bad times as well?

[ayseven]

There is no reason for bad times.

[BigQ]

But they happen anyways.

Read Human Action, by Ludwig Von Mises. Lots of good knowledge in the Austrian School of Economics on human psychology and its effects on the market.

Mises.org

[ayseven]

Well they shouldn't, but i guess people just do what everybody else does, instead of living their own routines.

[hithere]

I’m only referring to pilot movement/flight crew hiring etc but in all other previous recessions, pilot hiring ground to a halt as airlines stopped expanding or parked aircraft. However the current environment differs from the past(at least in the AC world which let’s face it, is the biggest driver in pilot hiring in Canada anyway) in that even if AC did not grow one more route, their massive wave of baby boomer retirements will still require unprecedented numbers of new hire pilots. This is unlike anything we have seen before. The last time we saw such new hire requirements was in the late 1970s/early 1980s during deregulation but that was entirely due to growth and not due to retirements. This is why, for the first time in over 30 years, I would encourage someone to get into the industry.

[7ECA]

9/11 arrived at the cusp of yet another mass retirement wave, and what happened there? If you weren't permanently laid off, most chose to hang on longer to try and recoup/rebuild what was left of their pensions. Odds are the same thing will happen this time around - assuming things aren't much worse from the get go - senior pilots will stay on as long as possible, and junior pilots will be handed the sack.

[hithere]

Ok so now your saying we will have another 911? Recessions and downturns in the economy are cyclical and inevitable. 911 was a force majeure that is completely unpredictable. I thought this thread was about whether we headed into another recession and it’s effect on pilot hiring. If you are going to alter your career choices based on a force majeure you may as well go work at McDonald’s and not waste any money on education

[ayseven]

Worrying about the future is pointless. You just choose a path, and do your best.

[EPR]

https://www.theglobeandmail.com/busines ... omy-trade/

['97 Tercel]

This content is available to globeandmail.com subscribers

[vermont]

This content is available to globeandmail.com subscribers

CN Rail to lay off 1,600 employees amid weakening economy, trade tensions

[vermont]

What is the chance of the industry just shutting down in 3-5 years? Airlines are starting to go belly up in Europe. Are there similar chances that it will happen in Canada?

It's because they're travel airlines for the most part and brexit along with some other stuff is making people hold off on vacations

[vermont]

The real question to ask is why these people who think it’s so much better everywhere else live in Canada? Why do people who have lived in other better nations choose to live here? Why are there so many European immigrants in Canada who left Europe and have absolutely no desire to go back?

At the risk of being political, In the US all that matters is the individual, in Europe it's the group. (Hence why everything is illegal there) Canada is more in the middle, if you're someone against a nanny state you'll probably be happier here

[7ECA]

CN Rail to lay off 1,600 employees amid weakening economy, trade tensions

Announced nearly simultaneously with the strike by 3,000 unionized employees. Gosh, isn't that ironic...

[vermont]

CN Rail to lay off 1,600 employees amid weakening economy, trade tensions

Announced nearly simultaneously with the strike by 3,000 unionized employees. Gosh, isn't that ironic...

I might be misreading your comment but depending on how the layoffs are structured it might cause safety issues for the remaining people

[rookiepilot]

Evidence is piling up.

Any anecdotes from the pilots?

[losercruiser]

Save your pennies.

[7ECA]

Evidence is piling up.

Any anecdotes from the pilots?

Brass and lead are valuable commodities?

['97 Tercel]

I'm melting down all my gold and burying it in an underground bunker.

[piperdriver]

Evidence is piling up.

Any anecdotes from the pilots?

Times are tough. Pilots at Swoop have resorted to performing sexual favors in downtown CYHM just to make ends meat.