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Re: Canadian Banks reassurance statement on dividendsI still have years to go before retirement, especially after this drop. RRSP decimated. It's too late to sell now. My TFSA is doing much better though, it's 40% in cash and funded only at 50%. I have the cash reserves to fully fund it multiple times over. The right time to buy will come, EMA, FTS and the banks would have to retest their lows for me to start nibbling. There are too many variables with this situation. You have two extremes: The first is we suddenly find a magic pill that solves this problem shortly. The second is the total collapse of civilization. Both of them are highly unlikely, we will get through this. We survived plagues, world wars, the great depression and the Spanish flu. We will survive this one too. Heck I lived through a civil war in my youth, this is a walk in the park. The weak delayed measures Canada took simply mirrors our weak leadership. Junior, imo, proved to be a failure in this regard. Not the first time if I look at our O&G sector and the repeated yearly deficits in good times. Announce a total lock down, cut off Canada from international travel, deploy the army to enforce it, suspend individual rights and liberties if needed and this will be over in less than 2 months. You'd have fortress Canada, then fortress North America if the USA does the same. The way things are going, it's not going to happen. I envision the following will happen as a worst case scenario: In a couple of months, this won't be under control. Government will unpause the economy, ask everyone to wear masks at the risk of getting a ticket and life resumes in the shadow of social distancing. You can pause the economy for so long and at some point they have to make a choice. they will pick the economy....(of course they will announce protection measures for those at risk. Despite the bombastic wording, it will be limited in effectiveness.) and that was my 2 cents.... |
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Msg # | Subject | Author | Recs | Date Posted |
105133 | Re: Canadian Banks reassurance statement on dividends | Under the Radar | 1 | 4/5/2020 2:43:36 PM |