FTLComm - Melfort - October 31, 1998

The gloomy economic prospects many were predicting seems to have either been avoided or delayed. Economists and pundits alike based on the world global economy and remarkably similar circumstances as were seen in 1929 that a repeat of the stock market crash was more then likely for the end of October 1998. Well, today is the last day of the month and the sky has not fallen on the financial world. Though things are far from rosy with commodity prices extremely low and the US dollar abusing most of the world's economies including that of the US where yesterday it was noticed that European farmers are exporting significant quantities of oats into the United States. The US dollar's high speculative value makes off shore and Canadian commodities bargain basement prices in the US and the American farmers are in dire situations. Just as Canadian hog producers are now reported to be losing $45 a head. The streets of Melfort do not look like an economic recession has hit, this image was taken at 4:30PM Friday afternoon and you can see that things are busy. Saskatchewan grain prices are at all time low values but the optomist of Saskatchewan farmers on three consecutive excellent crops seems to be buffering the low income expected this year. Farm machinery dealers are not seeing the big ticket items rolling off their yards and retails are noticing a guarded caution among their customers but retail spending is remaining steady. Car dealers point out that they are noticing a minor slow down and that their customers are shifting their purchases somewhat but October sales in some dealerships exceeded September. The forebody late October sky is a threat but the last day of October has come and will go without snow on the ground and this is Saskatchewan, Riders miss the play-offs this year after going to the Grey Cup last year, so what, there is always hope for next year.