Canadian personal bankruptcies soar in September!

[Canadian]

Canadian personal bankruptcies increase almost 50% year-over-year in September 2009. I guess EI money are running out for many Canadians....

http://globeinvestor.com/servlet/sto...71181/GIStory/

[trent]

The bankruptcy numbers are bound to go much higher, with all the reckless borrowing we had in the last 8-10 years. Thos with large debt better pray interest rates don't go up sharply, because if Canadians are going bankrupt now with all-time low interest rates, imagine what happens when they have to service debt at 7-8%.

[Rickson9]

This unfortunate data is definately not reflected in either the real estate or stock markets. As such, it is a non-event for me.

[Elli Davis]

Yeah, I want some info about the real estate sector too. Without it, this article is not that interesting, really.

[trent]

Originally Posted by Rickson9

This unfortunate data is definately not reflected in either the real estate or stock markets. As such, it is a non-event for me.

All in due time...

[Canadian]

Originally Posted by Rickson9

This unfortunate data is definately not reflected in either the real estate or stock markets. As such, it is a non-event for me.

It might not affect you just yet, but keep in mind that you do not live/work/invest in isolation. You are just a miniscule part of the system and you better pay attention to such events if you want to stay ahead financially...

[Rickson9]

Originally Posted by Canadian

It might not affect you just yet, but keep in mind that you do not live/work/invest in isolation. You are just a miniscule part of the system and you better pay attention to such events if you want to stay ahead financially...

I'm so tiny that it won't make a difference to me.

[francisford]

Sigh. Personal bankruptcies reflect a sad fact of life.