Remember those heady days at the start of the pandemic when Canadians were told they’d be foolish not to borrow? Well, the invoice has arrived and it’s not pretty.
Business insolvency filings in Canada hit their largest third-quarter volume in 15 years, with 1,312 companies teetering on the brink of going under.
On a yearly basis, such filings also rose in every province but New Brunswick and Newfoundland and Labrador from Oct. 31, 2023, to Oct. 31, 2024. Ontario led the pack with a two-thirds increase, or 588 more insolvencies than a year earlier, while Quebec bankruptcies rose 40.4 per cent, an increase of 847.
High interest rates?
That’s simply not true.
You’re an idiot if you didn’t see inflation coming and illiterate if you thought the lending rates were going to stay at Record Lows.
Lots of people shouldn’t be in business because they thought they could get basically interest-free money to gamble with.
Zero fcks given.
It’s the lack of warning and the lack of alternatives that make it what it is, my dewd. All government caused.
Thousands of companies got shuttered by the Masters, I know, but in 2024?
There are a few unfinished condo-apartment monoliths standing in Ottawa because the construction companies were run by idiots.
It is always the “government”.
Canada is not a nation. It is not a country. It is a collection of policies and procedures. Nothing more. Watch Ukrainians and Russians fighting for their nations and their countries. Exactly. No one would fight “for Canada” because that amounts to fighting and dying for some stupid-@$$ stack of 3-ring binders. Lol.
…most of our fellow citizens are mindless ingrates not worth the bloodshed.
No one would fight “for Canada”
You’re right, I wouldn’t.
But I’d fight for WEXIT and the Independent Republic of Buffalo.
Canada is a state and that’s all it should be. The issue is that it isn’t very good at being one.
If you want to be an American, move there.
Side benefit? You or your children get to fight in wars.
Oh I bounce all over the place! If things were to get bad somewhere I would just leave for another place. Not fighting anyone’s wars but my own!
Might I suggest your home world: Uranus.
Another issue is higher corporate taxes mainly through the closing of “loop-holes”. Rarely discussed but started in earnest by the Trudeau government back in 2018.
Closing loopholes is good. Lower rates, no loopholes.
They forgot to lower rates.
My tax lawyer is so good, he can take advantage of loopclosures. That’s what I call skill!
OTOH … I have NO IDEA why Canada only allows short term loans, that balloon to Uuuge increased adjustable rates? I continue to pay my 2.5% rate on my 5-bed, 3-ba single family home … and the payment is less than the cheapest 1-bed apartment in my locale.
I remember listening to a radio station during the beginnings of lockdowns, which I will not mention, or the host or the city. They were making it clear there can be no economy without health. Needless to say I no longer listen to any radio, read any papers or watch any news.
There can be no economy when we are all dead and the government tried real hard to achieve that.
Amazing what happens when the government makes sure that the only safe place to sandbag cash is real estate, then they drop the interest rates to zero for -years- and get the bubble really going. Then suddenly the interest rate goes from 2% to 6.5%. And you can’t get a job if you lose the one you have.
Who could foresee mass insolvency?
I’ve stopped believing they’re stupid. It’s deliberate.
I’ll throw this out for you. I agree it is deliberate. The leaders of Canada, UK, Ireland, NZ and Oz are Young Global Leaders. Kamala was a mind controlled tool, but the orange man is a Trojan horse. PP is more of the same, despite his protests to the contrary. Don’t look for a political savior, but look out for yourself and your family and close friends. Also, the leader if the western prairie province is not your friend either, having not reversed any of the medical tyranny of the past five years, such as apologizing to and restoring the medical people who were terminated and saying she can’t do anything about the AHS.
…the leader if the western prairie province is not your friend either…
I don’t trust DS as far as I can throw her.
Yup. Steppingstones on the pathway to you owning nothing and Klaus Schwab and his cronies being happy.
Some of you may not be happy, but that’s a risk they’re willing to take.