The fake economy is collapsing in Canada. Everything that benefited from 0% interest rates and aid during the clownflue is being wiped out of the market. Let's see how quickly Commie-Trudeau intervenes here and tries to 'stabilize' his pseudo-economy with massive monetary and fiscal policy measures. The Keynesian brain virus is anchored in every politician today. Stupid enough to continue to apply a strategy that has never worked because it seems opportune in the short term, it is now ubiquitous everywhere.
31 sats \ 1 reply \ @jeff 11 Mar
Where does this come from?
What did '08 look like?
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31 sats \ 0 replies \ @TomK OP 11 Mar
If I remember correctly, Canada had decoupled itself from the trend in the United States at the time, as not quite as many banks were involved in financing the junk securities. But of course the insolvency rate went up there too
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31 sats \ 3 replies \ @kr 11 Mar
is the y scale the absolute number of business insolvencies? as in 700 businesses across the entire country?
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10 sats \ 2 replies \ @TomK OP 11 Mar
Yes, by months
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10 sats \ 1 reply \ @kr 11 Mar
ah ok thanks
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10 sats \ 0 replies \ @TomK OP 11 Mar
Greets and have a nice day
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21 sats \ 3 replies \ @grayruby 11 Mar
I know two of my former customers have filed for bankruptcy in the past couple years and I am shocked to see how many storefronts along the main street in our fairly affluent town have closed up just in the past few months.
More to come I suspect. Between rates and input cost increases it is a nightmare scenario for any small to medium size biz that got a little to used to the low inflation, low rates regime.
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20 sats \ 2 replies \ @TomK OP 11 Mar
I recently visited my home town in Germany 5 years ago and 16 of the 30 retailers in the pedestrian zone were closed
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21 sats \ 1 reply \ @grayruby 11 Mar
Sad. It feels like a town's vibrance is sucked out of it when the local businesses close.
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30 sats \ 0 replies \ @TomK OP 11 Mar
i was there in January when it snowed and i had a dentist appointment which didn't make it any better and i was walking through a dead city center. it was one of the most depressing experiences of my life
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