As months of lockdowns drag on, there’s this less than encouraging, but not at all unexpected, news from the Financial Post.
New data show that consumer insolvencies filed in Canada jumped 22.8% in March, the biggest monthly increase in more than 10 years. That’s also the largest single month of new filing activity since the onset of the pandemic more than a year ago.
If businesses knew back a year and a half ago that this temporary lockdowns would be continously, they’d jump ship long ago and not be totally devastated by our governments lies of ‘we’re all in this together’, bullshit.
Next month…next week…a few more weeks…another month…
The fallout from the disastrous response of our politicians and health bureaucrats is just beginning. Way too many people who should know better are whistling past the graveyard….
By the way, right now a lot of the banks have an informal policy of not demanding bad loans except in cases of fraud, etc. But they have all staffed up their special loans groups in anticipation of that ending. Once that happens, there is going to be a meltdown.
A key goal of the release of Wuhan flu into the environment was the expropriation of a large chunk of the capital that still remained in the hands of the productive classes of the western world, and its transfer to the unholy alliance of global finance, global corporate capitalism and the Chinese Communist Party.
Distribution of shots of distilled water is the excuse to force once prosperous entrepreneurs back into wage-slavery, with little chance of ever recovering their previous standard of living—much less owning a home again.
Two weeks to flatten the curve lads! Come on now, chin up, we’re all in this together!
Big bang capitalism means prosperity appeared out of nothing, just from an alternate universe, like statist false narratives.
Kind of like emotional belief, prejudice, ignorance, outright stupidity, mean spiritedness and other forms of childish malevolence.
Don’t worry, Blackie is going to have everyone plant trees this summer.
Ok I’m confused. (I’ll admit that’s easy to do)
The article had this passage:
“B usinesses saw the lowest number of insolvencies in 35 years in the first quarter of 2021, down 9.7% from the previous quarter and 31.7% from the same time last year.”
Sooo…. isn’t that a good thing?
There are always insolvencies but this implies we are having fewer than normal doesn’t it?
Yah all the economists and Gubmint Toads are surprised because of the sudden inflation. MMT the new cure UBI yah yah gimmeeedat too.
Inflation is theft of purchasing power and a hidden tax.
As the cost of everything rises eventually they have to admit that it is getting out of hand.
Central Banks have been the cause of the destruction of currency always through history, Central Banks and Tyrants.
Officially they only measure a couple items for the CPI. Mostly nothing in the real world of J6P.
They are boxed in with no where to turn now.
If they print more they accelerate the inflation, if they stop they create deflation, and they can squeeze a few more tax’s but hard to do when every facet of life in Canada is taxed or has fees, licenses, or permits of some kind. The mortgage Defaults in Alberta are going to be epic.
Collapse is coming I am thinking by mid to late summer.
https://wolfstreet.com/2021/05/12/its-getting-serious-dollars-purchasing-power-plunges-most-since-2007-but-its-a-lot-worse-than-it-appears/
Wow, it only took Biden 100 days to kill the economy.
Amazing financial analysis ..So Shutting down productive activity and expanding destructive activity..might cause bankruptcies?
And printing double the amount of money previously in circulation might cause prices to double?
Wow who knew?
CBC will soon be promoting the concept,that Canadians are all so much richer ,due to Emperor Justine’s Genius.
For ,look your house has doubled in “value”.
That new car just cost 20 000 more.
GDP is “Up”.
We are all billionaires..
Shame a loaf of bread now costs 2 billion.
I sometimes wonder how much of our taxes find their way into his “foundation”. After all, he and Soapy, not to mention the wee Dummkopflets, need to maintain the way of life to which they have become addicted–er–accustomed.
The level of stupid is unfucking believable.
Wait till the 15% mortgages kick in.
Hell Toad I have had 8%, 11%, 15% and 19% mortgages. We are just going to get back to the Canadian norm, unfortunately with money having been so cheap, most houses will no longer be owned by the current owners.
I think the correct phrase is: “Capital accumulates itself”.