You just have to take one drive through nisku to know things are not normal and probably will never return to normal....I'm on the front lines of oilfield and things are not normal! People still spending though it's crazy.
Canadian Household Debt at all-time high.
- Thread starter Catman10
- Start date
- Thread starter
- #22
Catman10
Drinking the Doolaid
Lets take it a step further, I am fascinated by the small stuff, if people are truly broke even the everyday spending should change. Walk in any Costco anytime, are they slow, not often. You cannot get into any restaurant in Red deer on a weekend without a wait because they are packed, every Mall I go to is filled to the brim and people lined up at the new mall in Leduc people were there at midnight the night before, nuts. With fuel being so high even the driving patterns should change but any day down hwy 2 is a race, there is a huge difference on fuel economy at 140 vs 100. How bout coffee shops, 5-6 bucks for 300 mls of something liquid that adds up every day, the list is endless and I think that most people really don't sacrifice a thing anymore and maybe a part of all of this is that it feels good to spend if you are down in the dumps, but such a short term fix for the emotions and so the spending spirals, I dunno what do you think?
X-it
Active VIP Member
If your budget is not balance it self, start spending money it can make money. and if that fails rob peter to pay Paul. It is so easy!! people just don't get it. We need to vote in a financial planner like this.
Teth-Air
Active VIP Member
If you read Catman10's post you will see he is talking about the same people that voted our current governments in. If they cannot control their own budgets how can you expect them to understand government spending, Sounds good to them when they hear about $15 minimum wages and spending on all types of social programs for the minorities. We try to compete in world markets so with that comes with worldly standards of living, which is much lower than what we are used to.
X-it
Active VIP Member
Right now in Canada every person who has tried to wrestle down the debt has been voted out. Although in BC we should have had a fiscally responsible government running our province but somehow the drunken sailor spender is in power. Get something for nothing …. what can go wrong??
skegpro
Active VIP Member
Yeah, goverment doesn't balance it's books why should the civilians?
Caper11
Active VIP Member
The banks and financial institutions are the biggest problem and their own worst enemy.
Why finance and build new condo buildings in a area that has alot of houses on the market, and base your annual income to include overtime.
Why finance and build new condo buildings in a area that has alot of houses on the market, and base your annual income to include overtime.
sledneck__11
Active VIP Member
But i want it!!!
brutematt750
Active VIP Member
How many years can I finance this toy ??
- Thread starter
- #31
Catman10
Drinking the Doolaid
I agree Banks play a huge part in the problem, constantly raising credit limits especially when minimum payments are only made, offering additional lines of credit at a low interest rate to help pay off your high interest rate bad debt and increasing the fees constantly to double dip as well. I pay for my toys cash always but when I bought my new sled last year I was cash poor because I had my money tied up in other toys so I financed for the first time ever. I sold some stuff and was going to pay off my loan the other day and looked at my interest rate at 2.49% on the loan which was so little that I said screw it and left the cash in my account so that I can have some rainy day money or whatever you wanna call it and I put enough money down so that I will always have equity in the machine so if I have to ever bail its not an issue. I think that some of you hit it on the head with people financing the full amount over a long period of time, when do they ever get equity, especially in RV's, geez a 25 year loan, really? There is good debt and there is bad debt and if more people realized this the economy would be much different right now. Good feedback on this subject so far, I appreciate reading so many opinions that are similar to my thoughts, makes me think I am not crazy after all ha ha.
X-it
Active VIP Member
We enjoyed years of low taxes and low interest rates....then the snowflakes voted their pot head in. Now we get high taxes, some still believe it is lower taxes though...fawk. And raising interest rates as well. One would wonder why the higher interest rates go with it? Any way this clown is extracting every dollar you have... and then some.... And a fawk you to those that voted for him, it was a very expensive vote. And for those who do not understand it the bank of Canada is a crown corporation belonging to the federal government.
Last edited:
pfi572
Active VIP Member
I luv high interest rates . 
At this time in my life .
At this time in my life .
X-it
Active VIP Member
So does all the rich people that Trudeau was going to tax....haha ya right. Here is how a budget balances itself, copied and pasted off of the government website. Now for those who want to do some balancing of their budget add up your extra taxes and interest together...if your smart enough to do that and see what your vote costed you.
Since the Bank of Canada is a Crown corporation wholly owned by the federal government, the Bank's purchase of newly issued securities from the federal government can be considered an internal transaction. By recording new and equal amounts on the asset and liability sides of its balance sheet, the Bank of Canada creates money through a few keystrokes. The federal government can spend the newly created bank deposits in the Canadian economy if it wishes.
Caper11
Active VIP Member
I luv high interest rates .
At this time in my life .
Lmao!!! This is a perfect post! Not to many can say that! Boom!!!
It’s the baby boomer inheritance funds kicking in. There’s gonna be a mad grab for all the easy money coming to these people. Generation scrimp and save is handing it too easy come easy go. We are definitely in the” live for the now “times. I must be doing something wrong though. All my toys are paid for, but I never have time to use them because I’m too busy working.
sho
Active VIP Member
People get use to a certain lifestyle. It is always easier going from poor to rich than from rich to poor. There were so many times we would here friends talking about being broke, but still go on vacation, go out for dinner or lunch etc. The husband and wife both have decent paying jobs and were always behind. Me and my SO make half what they do and if one of us loses our job or gets injured, sick or you know just life we will be fine and not have to worry about finances. The sad thing that will happen is what I believe is happening is there will be more suicides as the lifestyle people have created will come crumbling down and they may not able to climb out of it.
the_real_wild1
Active VIP Member
I am one of the people that live for now. We do pretty good with our wages and own a lot. Some stuff is financed. We don't a ton of cash in the bank. Some investments. I do not believe in the save for the future and only pay for things with cash. I have known a people that worked and worked for the future only to pass away before that time comes. Sorry but I want to enjoy life as it goes along and don't want to wait to "live". I don't want to end up in a car crash tomorrow, wind up paralyzed and wish I had done more with my life (but hey I have a big bank account).
crashidy
Active VIP Member
This... Child abuse is up, spousal abuse is up and sadly more families not feeding their kids.
Similar threads
