You're richer than you think

SpeedFreak
Administrator

Posts: 3,722

You're richer than you think Dec 17, 2014 10:24:18 GMT -5

Quote

Post by SpeedFreak on Dec 17, 2014 10:24:18 GMT -5

Or not

www.theglobeandmail.com/globe-investor/personal-finance/household-finances/canadian-household-debt-rises-to-record-level/article22082881/

"Statistics Canada said household total credit-market debt (mortgages, consumer credit and non-mortgage loans) rose to 162.6 per cent of disposable income in the quarter, as consumers’ continued borrowing for home purchases outweighed the tepid growth in their disposable incomes."

nfq
I Live Here

Posts: 1,773

You're richer than you think Dec 17, 2014 17:00:27 GMT -5

Quote

Post by nfq on Dec 17, 2014 17:00:27 GMT -5

Yes and no.

Yes everyone is boned with debt up to their eyeballs.
But the stickler in their argument is 'disposable' income.

People don't use their disposable income to pay for their mortgage, they already (or should be!) accounting for it in their monthly budget.

This is nothing more than selling papers.

You are richer than you think, when compared to the entire world.
You're NOT richer when you try to live like a Kardashian.

"There's never enough time to do it right, but there's always enough time to do it twice."

RockerGuy I Live Here Buttercup Paul scared all the pansies away... Posts: 2,643	You're richer than you think Dec 17, 2014 18:37:12 GMT -5 Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by RockerGuy on Dec 17, 2014 18:37:12 GMT -5 The government is in debt, its hard for the regular population not to be. It's like Father & Son, the apple doesn't fall far from the tree
	If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing. -Malcolm X If Fascism ever comes to America, it will come in the name of Liberalism. -Ronald Reagan

SpeedFreak
Administrator

Posts: 3,722

You're richer than you think Dec 17, 2014 20:51:29 GMT -5

Quote

Post by SpeedFreak on Dec 17, 2014 20:51:29 GMT -5

Dec 17, 2014 18:37:12 GMT -5 RockerGuy said:

The government is in debt, its hard for the regular population not to be.
It's like Father & Son, the apple doesn't fall far from the tree

But to the point that canadians are in debt?

People live like they're millionaires but majority of it isn't even paid for. Go to a dealership and try to tell them you want to buy a car with cash, they'll look at you like you're an alien.

Everything is how much you can afford per month...

Last Edit: Dec 17, 2014 20:51:56 GMT -5 by SpeedFreak

RockerGuy
I Live Here

Buttercup

Paul scared all the pansies away...

Posts: 2,643

You're richer than you think Dec 17, 2014 21:03:16 GMT -5

Quote

Post by RockerGuy on Dec 17, 2014 21:03:16 GMT -5

Dec 17, 2014 20:51:29 GMT -5 SpeedFreak said:

Dec 17, 2014 18:37:12 GMT -5 RockerGuy said:

The government is in debt, its hard for the regular population not to be.
It's like Father & Son, the apple doesn't fall far from the tree

But to the point that canadians are in debt?

People live like they're millionaires but majority of it isn't even paid for. Go to a dealership and try to tell them you want to buy a car with cash, they'll look at you like you're an alien.

Everything is how much you can afford per month...

I think we're arguing the same point

If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing.
-Malcolm X

If Fascism ever comes to America, it will come in the name of Liberalism.
-Ronald Reagan

nfq I Live Here Posts: 1,773	You're richer than you think Dec 18, 2014 0:16:19 GMT -5 Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by nfq on Dec 18, 2014 0:16:19 GMT -5 All this means is be ready to pounce like a vulture when the whole thing goes boom.
	"There's never enough time to do it right, but there's always enough time to do it twice."

Post by SpeedFreak on Dec 17, 2014 10:24:18 GMT -5

Post by nfq on Dec 17, 2014 17:00:27 GMT -5

Post by RockerGuy on Dec 17, 2014 18:37:12 GMT -5

Post by SpeedFreak on Dec 17, 2014 20:51:29 GMT -5

Post by RockerGuy on Dec 17, 2014 21:03:16 GMT -5

Post by nfq on Dec 18, 2014 0:16:19 GMT -5