Personal bankruptcies soar again!

trent · #1 07-07-2009, 08:27 PM

Consumer bankruptcies in Canada spiked upwards more than 34% in May 2009 compared to May 2008 accroding to Stats Canada. Meanwhile Canadian consumers are buying houses keeping the real estate values close to the pick? What is wrong with this picture?

Canadian · #2 07-09-2009, 02:03 PM

Quote:

Originally Posted by trent

Consumer bankruptcies in Canada spiked upwards more than 34% in May 2009 compared to May 2008 accroding to Stats Canada. Meanwhile Canadian consumers are buying houses keeping the real estate values close to the pick? What is wrong with this picture?

This is just the beginning, I can promise you that! Wait until the debt slaves have to deal with slightly interest rates, and you most likely see spikes of over 100% year-over-year in Canadian bankruptcies.

trent · #3 07-13-2009, 03:14 PM

Quote:

Originally Posted by Canadian

This is just the beginning, I can promise you that! Wait until the debt slaves have to deal with slightly interest rates, and you most likely see spikes of over 100% year-over-year in Canadian bankruptcies.

Until the Canadian government bail them out with our tax money

Steven · #4 07-13-2009, 05:51 PM

I'm no longer convinced that things will get worse from where we are now. I think thta the economy will start improving as soon as this fall...

Jason · #5 07-16-2009, 03:04 PM

Quote:

Originally Posted by Steven

I'm no longer convinced that things will get worse from where we are now. I think thta the economy will start improving as soon as this fall...

I only hope you are right. With so many jobs already lost, we need a recovery very soon or things will get ugly.