Quote:
Originally Posted by 2Stonedbirds
Agreed, but what does anyone have at the end of the day to show for it?
Household debt is off the charts. I remember a study conducted before covid, showing nearly half of Canadians are $200 away from insolvency. That blows my mind. For many, things look great. New car, new house, vacations, ect as you mentioned... but the hot water tank popping means they're ####ed.
https://www.google.com/amp/s/www.cbc.ca/amp/1.4986586
People are spending money, sure. It just isn't theirs. I'm not sure bubble begins to describe the situation. At some point does it not pop? |
100% that is an issue, and prior to covid there were a lot of negative trending indicators that showed we were heading to a recession. COVID interrupted that and the immense spending by all governments certainly postponed those issues to an extent (increased savings by many people during that time helped as well)
But again, this is how the system is designed. Saving money doesn't help the economy.