Debt Trap (3 of 5)
Some facts established in this documentary: – Canadians collectively owe 00000000000+ of debt, almost 10 times that of 30 years ago. – in the last 20 years bank profits up 900%. Half is of debt interests. – avg household consumer debt: 000 – 000. – personal bankruptcies up 400% in 25 years. – savings rate now an all time low of 0%. – avg house price in 1978: 000+ (amortization: 15 years). – avg house price in 2008: 0000+ (amortization: 25 or 30 years). – avg wage increase 0 …
