Canadian debt levels
#77
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.
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.
#78
BE Forum Addict









Joined: Sep 2010
Posts: 4,834
From: Maryland (via Belfast, Manchester, Toronto and London)











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.
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.
#79
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
#80
BE Forum Addict









Joined: Sep 2010
Posts: 4,834
From: Maryland (via Belfast, Manchester, Toronto and London)











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.
#81
BE Enthusiast




Joined: Sep 2010
Posts: 404
From: Calgary, Alberta











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!




