519-646-2222Blog Articles
Money ran out a long time ago
Yes, that is true, there is no longer enough money in circulation, in the entire world, to account for the money that banks have loaned. If you added up the value of the actual currency in every single country in the world it would come up thousands of trillions of dollars short of the money […]
Read moreBankruptcy trumps proposals
There are many situations where a bankruptcy can trump a proposal as an option for solving debt problems. This is especially true for first time bankruptcy filers. Rebuilding credit following a bankruptcy used to be challenging, in some cases taking several years, but that is no longer the case. Banks, notably TD and Scotia have […]
Read moreCongratulations on your record debt
That’s right congratulations Canadians for running up record debts for yet another year. There has not been a single year since 1977 when Canadians charged less than the preceding year on credit cards, according to the Canadian Bankers Association In 1977 there were some 8,200,000 bank issued credit cards in circulation in Canada. Of course, […]
Read moreChristmas shopping tips
Christmas is a time of the year when most people start to really focus in on giving, mostly to other family members. For some, the act of giving is a “make-up” whether that be in the sense of making amends to a spouse, kind of like buying flowers after a fight, or a time to […]
Read moreDebt makes banks vulnerable
According to the IMF and the World Bank debt makes banks vulnerable to collapse. That kind of diatribe is extremely hypocritical since those organizations lend money to central banks thereby increasing their vulnerability. Similarly, chartered banks lend money to consumers and make similar warnings about over borrowing, as if magically the consumer is some salivating […]
Read moreA brief history of credit cards
We have spoken about the phenomenon of credit cards several times in other blogs but this article from the BBC speaks very succinctly to the history of credit cards and how we have become so indebted. Credit cards are the most popular and convenient form of credit on the market. In many circles they are […]
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