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Old May 23rd 2012 | 1:46 pm
  #76  
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Default Re: Canadian debt levels

Originally Posted by jericho
Not sure what you're getting at or why you felt compelled to comment, sorry. I wasn't disagreeing with Leith.
I was just clarifying that his/her comments weren't Alberta specific. It seems you agree. No harm no foul.
 
Old May 23rd 2012 | 11:27 pm
  #77  
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Default Re: Canadian debt levels

Leith's post is totally accurate, and of course it's not just Alberta, it's most of the West. There are idiots everywhere.

Many people have no concept of the real cost of big consumer purchases, being primarily concerned with whether the "$ every two weeks" can be brought down to a level within their reach. They're not concerned that it'll take them 18 years to pay off the big TV, just that they can make the payment.

Sadly, for those of us who are not idiots, governments have based economic policy on such behaviour continuing.
 
Old May 24th 2012 | 4:01 am
  #78  
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Default Re: Canadian debt levels

Originally Posted by Jingsamichty
Leith's post is totally accurate, and of course it's not just Alberta, it's most of the West. There are idiots everywhere.

Many people have no concept of the real cost of big consumer purchases, being primarily concerned with whether the "$ every two weeks" can be brought down to a level within their reach. They're not concerned that it'll take them 18 years to pay off the big TV, just that they can make the payment.

Sadly, for those of us who are not idiots, governments have based economic policy on such behaviour continuing.
If by "the West" you mean the Western World (e.g. Europe, North America, etc) then I totally agree. Commenting on the fact that it happens in Alberta is stating the blindingly obvious - sort of like commenting on the fact that English is the major language in Alberta. Spending money you don't have is a common trait in many capitalist countries (US, Canada, UK, Greece, Ireland, Portugal, Spain, etc).
 
Old May 24th 2012 | 4:15 am
  #79  
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Default Re: Canadian debt levels

Even though the economy hit the skids here in the uk I still no people that can't afford it but eat our every night and go to various events. It seems some people are still living the never never stratergy
 
Old May 24th 2012 | 4:38 am
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Default Re: Canadian debt levels

Originally Posted by Mikeypm
Even though the economy hit the skids here in the uk I still no people that can't afford it but eat our every night and go to various events. It seems some people are still living the never never stratergy
Yep - I personally know many people in the UK, Canada, US, and Ireland who continue to finance their lifestyle on credit. Many have multiple credit cards that are maxed out and they get by just paying the minimum monthly payment. Eventually you have to pay the piper or face the consequences.
 
Old May 24th 2012 | 4:48 am
  #81  
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Default Re: Canadian debt levels

Originally Posted by Jingsamichty
Sadly, for those of us who are not idiots, governments have based economic policy on such behaviour continuing.
I guess Western governments have to: we no longer have a manufacturing-based economy, so the jobs are having to come from the service sector, which includes retail. Imagine the unemployment carnage if we all stopped buying stuff!
 

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