Canadian bankruptcies soar in December 2008

[Canadian]

The number of Canadian consumers and businesses that went bankrupt in December 2008 increased by almost 50% year over year according to the Office of the Superintendent of Bankruptcy, which is an Industry Canada agency. It looks like things will get a lot worse, before they get better as well.

[trent]

I've said this many times, but I'll say it again - We are lagging US with a year or so in almost everything. This simply means that things here will get a lot worse.

[bullish]

Originally Posted by trent

I've said this many times, but I'll say it again - We are lagging US with a year or so in almost everything. This simply means that things here will get a lot worse.

The fact that you said it many times doesn't make it true. I don't see us lagging Americans in anything.

[Canadian]

Originally Posted by bullish

The fact that you said it many times doesn't make it true. I don't see us lagging Americans in anything.

Sure, you can stay in denial as long as you want, or until you run out of money . I'm guessing it will be the latter.

[trent]

Does anybody have the Canadian bankruptcies numbers for January 2009?

[bullish]

Originally Posted by trent

Does anybody have the Canadian bankruptcies numbers for January 2009?

I expect the numbers to be lower.

[Canadian]

Originally Posted by bullish

I expect the numbers to be lower.

And why is that? Because of all job losses we had lately (much higher than US % wise)? Or because of the free fall our economy is in? Or am I missing something?

[trent]

Does anybody know where can I get the Canadian bankruptcy numbers for 2009 from?

[heyjude]

Originally Posted by trent

Does anybody know where can I get the Canadian bankruptcy numbers for 2009 from?

I don't know, try to google it...
It is so depressing watching all those signs FOR RENT on the shop fronts...

[trent]

Originally Posted by heyjude

I don't know, try to google it...
It is so depressing watching all those signs FOR RENT on the shop fronts...

No, it's not depressing. This will bring the prices of rents down, which will allow shop owners to make some profit. I remember my local Toronto pub, had to close because the landlord increased their rent to $15,000 per month, and this was rather small pub. Now in the same space there is a t-shirt store selling t-shirts for $50 a pop. I give them 3 months from now at most. Once they are out the stupid landlord won't be able to find a renter even for $10K.