Monday, December 15, 2008

St. John's - Reading the entrails

With all the bad news beyond the overpass (Wabush, IOC, Abitibi, Duck Pond, Stephenville) over the last 12 months or so, what of St. John's? We have low unemployment, great housing prices and starts, a general construction boom and optimism is high. Are we really insulated from world events within a comfortable economic bubble?

According to a story in the Chronicle Herald by our very own Greg Locke, good times may be followed by harder times simply because the current good times are an accident of timing along the oil development cycle.

Can't disagree.

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