I disagree DB....they misread our market and our spending habits. I hear people whining all of the time and finger pointing about others and their debt load.Not yet but I do see empty Walmart and Canadian Tire parking lots in my own community everyday Angstrom. What we clearly have is a shrinking consumer base which usually means cash is tight. The Boomers aint going anywhere unless their mortages and cards are paid off.
Reality is 70% of Canadians pay their credit card balance in full each month, so for them the interest rate is zero on the borrow, that is an amazing stat.
absolutely agree with this partLook, Zellers were the smart ones. Yah get it yet?