60% of Lower Mainland drivers have crossed the border to only buy gas.
Yup, truckers fill up the $400 in fuel before we cross into Canada..
Why pay the Government more than we must.
**** Trudeau
60% of Lower Mainland drivers have crossed the border to only buy gas.
Canadian consumers filed the largest number of insolvencies in almost a decade at the end of last year, stoking concern about the impact of record indebtedness on households and the economy.
Insolvencies totaled 35,155 in the final three months of 2019, the most in any one quarter since 2010, according to data released Monday by the Office of the Superintendent of Bankruptcy Canada. That’s up 10.2% compared with 31,900 in the same period a year earlier and is about 5,000 shy of the record 40,589 reached in the third quarter of 2009.
After declining steadily after the financial crisis, insolvencies began accelerating again last year, prompting questions about whether the country’s record household debt -- C$2.3 trillion ($1.7 trillion) at the end of December -- is sustainable. Adding to concern is the fact insolvencies are rising at a time when Canada’s economy is doing relatively well, with an unemployment rate that averaged 5.7% in the fourth quarter. When insolvencies peaked a decade earlier, the jobless rate was almost three percentage points higher at 8.6%.
“I think we’re still going to see a slight increase in 2020,” André Bolduc, an executive board member at the Canadian Association of Insolvency and Restructuring Professionals, said in a phone interview from Ottawa. “We’re hoping the economy stays strong so that the increases stay healthy and it doesn’t become a crisis.”
On the less alarming side, adjusting the number of insolvencies to account for population growth shows the increase isn’t as dramatic. As a share of total debt, the rate of filings also appears to be more stable.
In addition, the lion’s share of the increase in the past decade has been so-called consumer proposals, where the debtor agrees with creditors to pay back a proportion of what’s owed. Proposals are considered less severe than bankruptcies, the other form of insolvency reported by the Ottawa-based OSB.
Key Numbers
Consumer proposals climbed 22% in December from a year earlier, while bankruptcies were up 1.7%Total consumer filings for all of 2019 were 137,178, the highest year-end total since 2009Consumer insolvencies fell 14% in December from a month earlier, in accordance with typical seasonalityOntario recorded the biggest increase last year among provinces, with filings jumping 15.4% from 2018 levels. Alberta saw a 14.6% increase, while in British Columbia they advanced 10.3%Business insolvencies rose 2.4% in December from a year earlier, and for all of 2019 up 2.8% compared with 2018
Consumer Insolvencies Approach Record in Debt-Weary Canada
Good thing our economy is booming according to Hoid otherwise it would be looking pretty bleak
Why Canada’s consumers and businesses are going broke during ‘good’ times
Don’t they get a refund ?At least we have a carbon tax to make these folks about to lose their homes feel that much better
Sunny Ways
Don’t they get a refund ?
And the BC government has caused the loss of how many thousand jobs since that date?
Consumer Insolvencies Approach Record in Debt-Weary Canada
Good thing our economy is booming according to Hoid otherwise it would be looking pretty bleak
Pretty much sum up why Americans elected Trump . Fed up with the status quo . Unfortunately we up here in Canada were also fed up with the status quo . We got sunshine lollipops and rainbows .Sometimes I am of the opinion that Canada and it's dear wonderful politically correct political leaders are trying to de-industrialize Canada and turn it back to the 17th century. There has been so many attacks on so many oil and gas projects in Alberta and BC that could create tens of thousands of new and run off jobs makes one have to wonder as to why there is so many groups of people that are against pipelines and jobs?
With the lieberals running the country and the socialist environmentalist NDP running BC, it's a wonder that they have not pretty much already shut down most if not all the pipelines in BC and Alberta just to please a tiny minority of whiners and crybaby native Indians and environmentalists terrorists who seem to be always in command of what will and what will not get built. This bs that new pipelines will always be doing damage to the environment thru the many leaks that might happen to those pipelines is so way out to lunch nonsense. sure there may be a leak or two but I doubt that the leak will cause a major disaster to their precious environment.
It is always a tiny small minority of troublemakers that always try to make life miserable for we the rest of the majority Canadian people. This minority rule needs to come to an end. The majority must rule. That is real democracy at work plain and simple.
Are you prepared for the next leap in inflation come April 1? Will you drive the minivan less or turn down the thermostat?today we have record employment and stock markets and a meh oil and gas sector
because ridiculously high oil and gas prices hurt our overall economy
Puddle...tru d'eau...a fu-cking shallow puddle.Maybe tater tot can force the Minister of Justice or Attorney General to find Airbus guilty of some heinous crime and confiscate the company?
Total nonsense. Canada is looking very bleak despite what the so called economy experts and the media is telling us. They are all okay. Their Canada is working out great for them. They say: where is the problem? Our economy is going down the tubes. As an example, thousands of good paying jobs have and are still being lost in Alberta. Pipelines and other big projects cannot get built that will create thousands of new jobs and money for the economy and for the thieves in Ottawa.
Sure they will tell us that their is plenty of investments going on in Canada, but they will not tell us as to how much of those investments have pretty much gone belly up. Just report good news, please. Our Canadian dollar(peso)should tell us all that the economy is not all going all that great. A country like Canada should be one of the filthy rich countries in the world. But thanks to our dear pro-globalist leaders in Ottawa, they want to make sure that Canada stays poor and near bankruptcy and Canada stays in debt to the international banksters. And all of these blockades going on in Canada, how can that help to make and keep Canada somewhat great? Of course our politicians are all okay. They are guaranteed to get their paychecks every month while many are now unemployed. Canada is truly looking very bleak.
$600 Million loss for minimum 6 years before any chance to recoup for Quebec in the Bombardier deal
Quebec Premier said their $1.7 Billion surplus is only $1.1 Billion now, the question I have is how do they have any surplus with close to a $12 Billion transfer payment? Shouldn't that money be turned back in to benefit some other province or reduce the deficit? Or even be given back to Alberta?
Quebec Premier said their $1.7 Billion surplus is only $1.1 Billion now, the question I have is how do they have any surplus with close to a $12 Billion transfer payment? Shouldn't that money be turned back in to benefit some other province or reduce the deficit? Or even be given back to Alberta?
Of course not, Quebec believes they are entitled to the resource revenue of Alberta. Truth is, they are total idiots that fail to realize the system is broken and unsustainable. With Trudeau flat-out refusing to renegotiate the equalization formula for another 5 years, the Liberals and QC is expecting AB and SK to put their economy in debt to fund Quebec's surplus....while at the same time, kneecapping the ability of AB to develop resources and generate revenue and systematically destroying their resource economy.
Not only is it unsustainable, but Albertans have reached the end of their rope. I suspect that dramatic change is imminent in this country, the East better buckle up for a bumpy ride.
Are you prepared for the next leap in inflation come April 1? Will you drive the minivan less or turn down the thermostat?