Canadian Recession

MOAB · 11-20-2008, 11:07 AM

Given that we will most likely be in a recession in '09 (if we aren't in one already), I'm just wondering if people on this forum are starting to cut discretionary spending. I see a lot of threads about people still spending significant $$ to mod their cars and I find it interesting. Maybe its because you don't think you will be affected by what's happening out there or possibly that you just don't give a shi*t, or maybe you have more $ than God. Just curious because many people I know are putting the brakes on big purchases (cars, houses), trips, eating out 2-3 a week, etc. Would be interested to hear what people have to say, because from where I am (Bay Street), people are VERY VERY VERY scared about the state of the economy.

who's ur daddy? · 11-20-2008, 11:25 AM

It's going to be nasty in '09.

ians · 11-20-2008, 11:26 AM

Everyone are waiting for their package and then we can have more funding to mod...

BTW, I am from bay street too and everyone from work already knew the market is going to crash a yr ago so it has been well prepared. And I am just like any other Canadian... won't fell the pain until I really lost the job

Hey! actually I already got a 10% pay cut since Nov! So I think I should hold on buying new brief or buying food for my kids..etc! But mod funding is always the highest pirority

DinoMite · 11-20-2008, 11:36 AM

No fears, our Central Bank will bail us out.... /Sarcasm...

I think for the next 5 to 10 years it will be nothing but downhill, until revolution, or 3rd world nation status will hit the US of A.

darklord · 11-20-2008, 11:39 AM

life's too short...enjoy it!

Bimmerista · 11-20-2008, 11:39 AM

Yes indeed - let us all trade our Bimmers for Ford Falcons, slap the supercharger on and don't forget the 12 gage shotgun (dogs are optional).

And no I am not changing spending patterns-then again I had no major purchases planned anyways.

achien · 11-20-2008, 11:44 AM

correction, we are already in a recession... (just wait for the GDP figures on Oct. - Dec.'08 in Jan. 09)

Quote:

Originally Posted by MOAB

Given that we will most likely be in a recession in '09 (if we aren't in one already), I'm just wondering if people on this forum are starting to cut discretionary spending. I see a lot of threads about people still spending significant $$ to mod their cars and I find it interesting. Maybe its because you don't think you will be affected by what's happening out there or possibly that you just don't give a shi*t, or maybe you have more $ than God. Just curious because many people I know are putting the brakes on big purchases (cars, houses), trips, eating out 2-3 a week, etc. Would be interested to hear what people have to say, because from where I am (Bay Street), people are VERY VERY VERY scared about the state of the economy.

NH01 · 11-20-2008, 11:51 AM

Quote:

Originally Posted by darklord

life's too short...enjoy it!

I agree, Life is too short.

Actually. Its more my e90 335i's fault. THERE ARE TOO MANY THINGS I WANT FOR THIS CAR!! And the stuff are relatively not THAT expensive used and new.

my car only has 5000km's on it and I have a load of stuff already.

I just wish i ORDERED THE full MTECH KIT for $960 USD from getbmwparts.com when OUR CDN Dollar was good. DAMMIT!

perfectg · 11-20-2008, 12:24 PM

self employed. I cant and wont loose my job

who's ur daddy? · 11-20-2008, 01:08 PM

When the layoffs come... and they will come... that is when the modding market will tank. I am positive of that. Lotsa parts that I personally want - mufflers, suspension, etc. - will all have to take a back seat until I know I can survive this recession... ugh...

phatr1s · 11-20-2008, 01:19 PM

Quote:

Originally Posted by DinoMite

No fears, our Central Bank will bail us out.... /Sarcasm...

I think for the next 5 to 10 years it will be nothing but downhill, until revolution, or 3rd world nation status will hit the US of A.

Remember this numbers 12/21/2012.

markymarc1979 · 11-20-2008, 02:06 PM

Self employed and business is booming. I'm going to disney land!!!!!!

Inzane · 11-20-2008, 02:12 PM

I'm trying to keep an open mind and an optimistic attitude. I make a point of still going out to a store to buy something when I need/want it. We the consumers need to keep doing our part to stimulate the economy from the bottom up.

My plan/goal is to be able to buy an '09 335i next year. Any cutbacks in spending I do between now and then will only be in the form of saving for that car purchase.

markymarc1979 · 11-20-2008, 02:16 PM

LOL I just bought a Golden tee golf machine. Now thats careless spending!!!

bobbyz · 11-20-2008, 02:20 PM

Oops. Just got an M3.

MOAB · 11-20-2008, 02:20 PM

Quote:

Originally Posted by markymarc1979

Self employed and business is booming. I'm going to disney land!!!!!!

a) being self-employed doesn't make someone immune to a recession.

b) is it possible business could slow down? I see from your sig. that you sell restaurant software. You don't think some restaurants could go out of business?

markymarc1979 · 11-20-2008, 02:23 PM

Quote:

Originally Posted by MOAB

a) being self-employed doesn't make someone immune to a recession.

b) is it possible business could slow down? I see from your sig. that you sell restaurant software. You don't think some restaurants could go out of business?

You'd think so, but restaurants are very busy during the holiday season. Lot's of Christmas parties and gatherings. People also like to drink more during the holiday season. My company does POS systems in a lot of bars as well. Restaurant business is doing ok... for now.

The real drop off begins in January. Typically it gets really slow Jan, Feb and March. We're used to it though.

a.le · 11-20-2008, 02:48 PM

probably would see dome drop off in sales here and there but overall, the bmw market is a select one that caters to those who can afford it. like the ones who would be feeling the recession the most are those who go for lower end cars like mazda's and toyota's because that chunk of cash just means that much more for them. For those who can buy a bmw were probably somewhat already well off to begin with.

halB · 11-20-2008, 03:32 PM

Quote:

Originally Posted by phatr1s

Remember this numbers 12/21/2012.

So if you take a out 4 year lease on a car just before Christmas this year you won't have to worry about returning it?

ians · 11-20-2008, 03:45 PM

Quote:

Originally Posted by a.le

probably would see dome drop off in sales here and there but overall, the bmw market is a select one that caters to those who can afford it. like the ones who would be feeling the recession the most are those who go for lower end cars like mazda's and toyota's because that chunk of cash just means that much more for them. For those who can buy a bmw were probably somewhat already well off to begin with.

Usually, middle class suffer the most from recession.

MechUT · 11-20-2008, 03:47 PM

I'm extremely concerned this week as my small investment portfolio has now fallen below my pain threshold...

... but as far as the economy itself goes, I am not seeing any real effect in my industry yet.

ho_grayson · 11-20-2008, 04:22 PM

us car makers MIGHT be in history! i really dont know what i should do when massive amount of unemployment happen and government dont have money to help! i realy doubt canadian banks are as good as financial minister said. they never speak truth abut financial industry. time will prove anything!

11-20-2008, 11:07 AM	#1
MOAB Major 18 Rep 1,077 Posts Drives: Porsche & BMW Join Date: Dec 2006 Location: Toronto iTrader: (0)	Canadian Recession Given that we will most likely be in a recession in '09 (if we aren't in one already), I'm just wondering if people on this forum are starting to cut discretionary spending. I see a lot of threads about people still spending significant $$ to mod their cars and I find it interesting. Maybe its because you don't think you will be affected by what's happening out there or possibly that you just don't give a shi*t, or maybe you have more $ than God. Just curious because many people I know are putting the brakes on big purchases (cars, houses), trips, eating out 2-3 a week, etc. Would be interested to hear what people have to say, because from where I am (Bay Street), people are VERY VERY VERY scared about the state of the economy. __________________ March-November - '09 C4S (PDK, Akrapovic) December-February - '00 323 (only mod - snow tires)
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11-20-2008, 11:25 AM	#2
who's ur daddy? Colonel 133 Rep 2,904 Posts Drives: Canada's first and only 323xi Join Date: Aug 2007 Location: Mind Your Own Fkin Business iTrader: (3)	It's going to be nasty in '09.
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11-20-2008, 11:26 AM	#3
ians Major 40 Rep 1,283 Posts Drives: 08 E92 335i 6MT, 04 TSX 6MT Join Date: Aug 2007 Location: Toronto iTrader: (0)	Everyone are waiting for their package and then we can have more funding to mod... BTW, I am from bay street too and everyone from work already knew the market is going to crash a yr ago so it has been well prepared. And I am just like any other Canadian... won't fell the pain until I really lost the job Hey! actually I already got a 10% pay cut since Nov! So I think I should hold on buying new brief or buying food for my kids..etc! But mod funding is always the highest pirority __________________ 08 Montego Blue E92 335i 6MT sp Navi with beige interior aero front, Mtech side, M rear lip spoiler, hid fog, 19" Work Varianza T1S, KW V2, Mtech steering wheel, shift knob, e-brake handle & alumnium pedal
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11-20-2008, 11:36 AM	#4
DinoMite First Lieutenant 10 Rep 379 Posts Drives: 2013 - 335is Coupe Join Date: Aug 2008 Location: Mississauga iTrader: (0)	No fears, our Central Bank will bail us out.... /Sarcasm... I think for the next 5 to 10 years it will be nothing but downhill, until revolution, or 3rd world nation status will hit the US of A.
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11-20-2008, 11:39 AM	#5
darklord Ruler of the Universe 10 Rep 399 Posts Drives: 11 Silver Merc E63 (W212) Join Date: Sep 2007 Location: GTA-ish iTrader: (0)	life's too short...enjoy it!
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11-20-2008, 11:39 AM	#6
Bimmerista Major General 82 Rep 5,732 Posts Drives: superstock Join Date: Aug 2005 Location: Montreal, Quebec, Canada iTrader: (0)	Yes indeed - let us all trade our Bimmers for Ford Falcons, slap the supercharger on and don't forget the 12 gage shotgun (dogs are optional). And no I am not changing spending patterns-then again I had no major purchases planned anyways. __________________ __________________________ 2016 435 xdrive GC white on black leather interior, Msport1, Msport2, premium package 2015 Lincoln MKX, silver on brown leather, premium package - that's right! Techno-Groovy baby
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11-20-2008, 12:24 PM	#9
perfectg I pwn u 15 Rep 840 Posts Drives: 2012 Audi Q5 Join Date: Oct 2008 Location: Vancouver, BC iTrader: (0) Garage List 2008 335i [0.00]	self employed. I cant and wont loose my job
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11-20-2008, 01:08 PM	#10
who's ur daddy? Colonel 133 Rep 2,904 Posts Drives: Canada's first and only 323xi Join Date: Aug 2007 Location: Mind Your Own Fkin Business iTrader: (3)	When the layoffs come... and they will come... that is when the modding market will tank. I am positive of that. Lotsa parts that I personally want - mufflers, suspension, etc. - will all have to take a back seat until I know I can survive this recession... ugh...
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11-20-2008, 02:06 PM	#12
markymarc1979 Banned 268 Rep 2,534 Posts Drives: 16 G12 + 15 F06 + 17 F15 Join Date: Feb 2008 Location: Oakville, Ontario iTrader: (4) Garage List 2009 BMW E93 [0.00] 2012 BMW 750xi [0.00]	Self employed and business is booming. I'm going to disney land!!!!!!
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11-20-2008, 02:12 PM	#13
Inzane Lieutenant 25 Rep 443 Posts Drives: E90 LCI 335i Join Date: Mar 2008 Location: Edmonton, Alberta iTrader: (0)	I'm trying to keep an open mind and an optimistic attitude. I make a point of still going out to a store to buy something when I need/want it. We the consumers need to keep doing our part to stimulate the economy from the bottom up. My plan/goal is to be able to buy an '09 335i next year. Any cutbacks in spending I do between now and then will only be in the form of saving for that car purchase.
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11-20-2008, 02:16 PM	#14
markymarc1979 Banned 268 Rep 2,534 Posts Drives: 16 G12 + 15 F06 + 17 F15 Join Date: Feb 2008 Location: Oakville, Ontario iTrader: (4) Garage List 2009 BMW E93 [0.00] 2012 BMW 750xi [0.00]	LOL I just bought a Golden tee golf machine. Now thats careless spending!!!
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11-20-2008, 02:20 PM	#15
bobbyz First Lieutenant 13 Rep 311 Posts Drives: E90 M3 Join Date: Aug 2006 Location: Canada iTrader: (0)	Oops. Just got an M3.
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11-20-2008, 02:48 PM	#18
a.le New Member 0 Rep 8 Posts Drives: '06 325i AW Join Date: Nov 2008 Location: Vancouver, BC iTrader: (0)	probably would see dome drop off in sales here and there but overall, the bmw market is a select one that caters to those who can afford it. like the ones who would be feeling the recession the most are those who go for lower end cars like mazda's and toyota's because that chunk of cash just means that much more for them. For those who can buy a bmw were probably somewhat already well off to begin with.
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11-20-2008, 03:47 PM	#21
MechUT Captain 16 Rep 854 Posts Drives: 06 SG 330i Join Date: Apr 2007 Location: Mississauga iTrader: (0) Garage List 2012 BMW 335i [0.00]	I'm extremely concerned this week as my small investment portfolio has now fallen below my pain threshold... ... but as far as the economy itself goes, I am not seeing any real effect in my industry yet.
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11-20-2008, 04:22 PM	#22
ho_grayson Private First Class 20 Rep 176 Posts Drives: 2008 335i sedan Join Date: May 2008 Location: south surry, B.C. iTrader: (0)	us car makers MIGHT be in history! i really dont know what i should do when massive amount of unemployment happen and government dont have money to help! i realy doubt canadian banks are as good as financial minister said. they never speak truth abut financial industry. time will prove anything!
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