These are strange times... in many ways. Some of it is very personal and specific to me, while other issues are global. Of course the big news recently is the Corona Virus scare. Recently the World Health Organization has declared it a pandemic. I hope they are overreacting on the side of caution, so that this can be safely controlled. The fallout has been enormous. Stock markets have dropped over 30 percent and there is no end in sight. Very challenging and stressful times for people like me. I just sold my business and hope to retire, and was planning to live off my investments. Now they are only worth 2/3 of what I expected.
My work situation is very strange too.... I'm attempting to get used to the idea of being an employee and no longer owning my business. The company was sold at the beginning of 2020 and I've agreed to stay on for 12 months and transition into new ownership.
The virus scare has forced all sorts of closures and cancellations and this is reducing economic activity. The recent harsh winter conditions of the past two months have brought construction activity to a halt, and things have not really opened up yet. The environmentalist movement has crippled the resource industry and our province. To make matters worse now there is a conflict between the Saudi Arabians and the Russians over oil production which has driven down the world oil price. The retail price of gasoline here in Edmonton has dropped under 80 cents per liter. As much as the consumer appreciates a price reduction it is crippling the local economy. It has all combined for a perfect storm and this will be a very challenging year. I'm sure glad that I'm on my way out the back door. Of course we need to see that market recover somewhat if my retirement is going to become a reality.
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