Tuesday, March 10, 2009

Canada Credit


Ok, once again this has nothing to do with nothing, but the other day I was thrown in to talking to this crazy lady. She pulls in almost no income, but she has a big horribly expensive house she can't afford, and she is racking up the credit card. Her and her kid just got the very expensive iphone, and she barely knows how to use it.

I thought, this can't be happening in general! But here is an article on the situation. Is it a Canadian reaction to the recession? Or are we just behind the States a couple of years, as always?


Anonymous said...

I seriously do not understand the thinking of people like Krystal or the crazy lady from your post. It's the irresponsible thinking of people like them that caused so many problems in this recession. Spend, spend, spend and spend, that's all they can do. Not think ahead and maybe wonder, how am I ever going to pay this money back? Same thing happened in the US with the loans. Everybody bought a house because they could get a loan. But nobody ever thought about how to pay back. Huge money loss in banks is the result and the ordinary people suffer.

Take care, Elli

Harold Asmis said...

It's just the timing that I find amazing. I understand the US maxed out on credit, and then the crash. But here, it seems the crash is causing people to max out on credit. ?