The Buzz - March 21, 2016

 
This week we hear from Todd Hirsch, ATB Financial economist, speaking about the economic outlook for 2016.
 
Rotary Meeting Minutes – 3/21/16
 
Meeting called to order at 11:45am
 
Guest: Bree Urkow
 
Health of the Club: is all good.
 
Executive meeting is at 5:15pm tomorrow (March 22nd).
 
Next Rotary Gala meeting is on March 30th at noon.
 
Ray Hook – Australian clubs are here on Thurs., May 26th and there will be an open Rotary special lunch at 11:30am.
 
Guest speaker: Todd Hirsch from ATB, Alberta Economic Forecast for 2016
 
  • 2nd year of a recession
  • Anxiety level is high
  • Odds 75-1 oil reaches US$80
  • Odds 20-1 oil reaches US$20
  • Odds 3-1 oil reaches US $50-55
  • Odds 6-1 China “collapses”
  • Odds 15-1 Bank of Canada interest rate hike
  • Odds 3-1 unemployment reaches 8%
  • More layoffs coming in the petroleum industry
  • Odds 1-1 that Alberta sees a net out-migration
  • Housing market downturn: odds 3-1 prices down 5-10%, odds 7-1 prices down 20%
  • Odds 1-1 of a modest recovery in 2016
  • Odds 0-1 of more diversity (almost certain)
  • Subscribe to the OWL newsletter at atb.com/economics
  • for regular updates and insights, please visit Todd's webiste at Toddhirsch.com
 
Tony Hladun was the 50/50 winner and drew the 2 of clubs.
 
Next Meeting is Monday, April  4th at 1145am at the Best Western Plus Camrose Resort Casino. There is no meeting on Monday, March 28th (Easter Monday).