Canadian bankruptcies surge in June!

[Canadian]

Canadian bankruptcies surged over 50% in June year-over-year as many Canadians and Canadian businesses were unable to service their debts.

The number of consumer bankruptcies was up 54.3% in June, while business bankruptcies were up 10.8% according to the Office of the Superintendent of Bankruptcy Canada.

[bullish]

So what? By the end of the year this will start to go down, as the economy exits the recession. Stop scaring people and get a life!

[trent]

So what? By the end of the year this will start to go down, as the economy exits the recession. Stop scaring people and get a life!

Take off your rose-colored glasses and look at the reality of job losses, stagnant wages, higher taxes, deflation followed by high inflation, personal and business bankruptcies and mountain of unpayable debt.

[Canadian]

There is no quick way to deal with all the debt accumulated at personal, business and government level. The solutions include less personal spending, currency devaluation, higher taxes and less government services. The picture is bleak...