DEBTOR NATION: Majority Of Canadians Plan To Cut Spending This Christmas

How long do the elites think they can pretend the economy isn’t terrible?

We see, yet again, another example of how Canada’s economy is in serious trouble.

If the economy was booming as the pathetic elites like to claim, then we would expect to see people planning to increase spending during Christmas.

But instead, the opposite is happening.

As noted by BNN Bloomberg, “According to new findings from Equifax Canada, 55 per cent of Canadians say they will spend less this year on holiday gifts. The report comes a week after an MNP LTD survey revealed 48 per cent of Canadians had less than $200 at the end of the month after living expenses and debt obligations, suggesting the anxiety is building around the amount of debt households already have. Taking on more debt at a time when there are so many economic uncertainties suggests it isn’t worth the unease and sleepless nights.”

That sure doesn’t sound like an economy that’s doing well.

In fact, it sounds like an economy that is an absolute disaster, with the whole tenuous house of cards only held up by a mounting burden of debt.

This is the inevitable result of high taxes, excessive regulations, the carbon tax, and government deficits that – instead of going towards massive infrastructure investment that could create jobs both now and in the future – has seemingly evaporated into thin air, doing nothing for the economy, providing no benefit, while adding massively to the debt.

Clearly, Canada’s economy is not doing well at all, and it’s only getting worse, regardless of what BS spin the elites try to fool us with.

Spencer Fernando

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Sue
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Sue

The bright spots in this situation Spencer are, that we still have Christmas in this country and the time we get to spend with our family and friends.

NancyW
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NancyW

We do not give gifts not anymore, but we are all adults no children, we get together decorate and have a very nice dinner, that is costly enough, same with birthdays.

Del
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Del

Our limit last year was $100 each. This year we are keeping the same limit but following
barbie’s wishes and staying away from “Made in Canada” or “Product of Canada”. Making stuff in Canada creates pollution.

Sarc? Not really.

Donald O'Kane
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Donald O'Kane

Turdeauism at it’s finest. He won’t be happy until he has taken everyones money and put us all on social assistance so we can starve. He has to starve us to death before the CO2 he’s trying to take out of the air causes a famine.

Bruno
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Bruno

What can we do when our leader acts as a spoiled brat.I would suggest to brush on Canadian History.There is a fine book written “The fight For Canada” by David Orchad published by Soddart Publishing in 1993.It is a fine book to learn what Canadians are realy made of.

old white guy
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old white guy

As someone who is retired on his own dime I have watched my purchasing power eroded year after year by government policies and their constant inflating of the currency.

Garlet Farlett
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Garlet Farlett

So I heard a piece on the radio a couple of weeks back where the CRA was going after contractors who were getting paid under the table, cash, for home reno’s. CRA was basically recruiting places like Home Depot to hand over their records to match against contractors tax returns. So, the question was, why is this happening? Well duh, people are tired of getting hosed by the taxes. Think about it, Home Depot pays tax when they purchase stuff, then the contractor pays tax when he buys said stuff, then the home owner pays tax on the contractors bill.… Read more »

Joe
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Joe

My protest is only buy the necessities as to avoid taxes and buy online and second hand stores. We have very little of our own manufacturing and import much to be taxed and resold.

Larry
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Larry

Hi Spencer. Your insight on the high taxes, gov’t debt , carbon tax etc are spot on and weigh heavily on the economy. One thing I would like to add is that a lot of the new people coming in to Canada don’t celebrate Christ’s Mass, or Christmas, so I think we are going to see less and less spending at Christmas just because the new people don’t celebrate that. I wonder if the gov’t thought this through, I’m sure a lot of the beneficiaries at corporations that see a large chunk of their profits come at Christmas time may… Read more »

Bruno
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Bruno

Very soon you will not celebrate Christmas.Our prime minister does not like Christmas.
It is racist to say Merry Christmas.You must say Happy Holidays.I do not even shake hand with anyone during the season I may offend someone.

shawn harris
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And to think Trudeau and Morneau, both strong believers in deficit financing, have promised to run up the deficits and debts to unheard of levels, while never saying when they will stop impoverishing Canadians. Yet somehow in all of their far left socialist thinking , we are to firmly believe that utopia is just around the corner, instead of at the bottom of the cliff that Trudeau and Morneau are urging us all to run over. There is a massive disconnect between Trudeau and the average consumer; that, we all can see the brick wall we are running to and… Read more »

Clive Edwards
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Clive Edwards

Our government, like our citizens, lives on borrowed money. Income only goes to finance that debt. The banks, and those who really do own the banks, grow richer. The way compound interest works, any growth in income is eaten up by the growth of the debt. That is why, in some cultures past, debt forgiveness was built into society. No more. To all intents and purposes it has indeed become a “zero sum” game.