What’s that say?
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Credit card debt is an all-time high in Canada. A new report from Equifax found Canada’s total consumer debt climbed to $2.36 trillion in the third quarter of this year , an increase of about 7.3 per cent from last year.
Much can be attributed to Russia/Ukraine, US past administration, and COVID-19.
It can all be attributed to the current US administration. President Trump has no control over the economy today, it is in the hands of Biden and his cronies.
Here’s his department secretary of nuclear waste. Seems like a legitimate qualified……
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Trump Budget Continues Multi-Year Assault on IRS Funding Despite Mnuchin’s Call for More Resources
As explained, believe what you want but!!! the past administration assailed against the IRS to whom he thought were his enemy.
So what in the hell does this have to do with this…
What does a 18% reduction in the United States IRS budget have to do with credit card debt in Canada? That reduction was within a 12 year period by the way. I know you Canadian lefties always want to blame President Trump for your shortcomings but even this is a stretch.
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I don’t think this is the place for politics or shaming your neighbor (even the international ones). PLEASE take your “agro” to Twitter. I think Elon likes it, right? Humor there fellas. BTW, pretty obvious that the past POTUS is an enemy of the IRS, right?
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I concur. Enough.
Also, not the place to post “groomer pix” whatever they may be.
“291,000 more Americans since March are working two or more jobs.”
More than what number I wonder…
I remember the days when my father was the only one that needed to work in my family. That would have been hard for my wife and I and that definitely won’t work for our children (I guess we’re not in the “executive salary” range).
I am very grateful though that I do have a relatively successful business to support our needs and some of our desires. Hopefully that will continue.
I am experiencing a slow down in business since the hikes in interest rates. That used to be normal for this time of year in my region but hasn’t been this slow for quite some time. I haven’t had CC debt for several years now and I hope I don’t need to rack it up again. I’m not liking the mortgage payments for a new home purchase right now. More people, more money, more housing, more debt - all not likely to stop, right?
Thanks Nick, you have created so much support for so many people!
Happy Holidays!
Alan
Haven’t owned a credit card going on 15 years. If I can’t pay for it in cash, I don’t buy it. Funny thing, I checked my credit rating a few months ago…780… 
I have no choice. Several of my business insurance premiums are oddly tied directly to my credit score. In other words, my premiums go up and I could even get dropped if my score drops. Also, to get 0% interest from John Deere, they hire a private investigator to research me which includes a credit check. I have to be able to prove that I don’t owe any unsecured debt and that is only possible with a credit score. It’s a big scam but I have to play inside it.
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That’s your own problem Nick. You have a big business and you are wealthy, I have neither, but live smart. If I can’t afford, I sure as hell won’t finance it. I do have a mortgage though. The only debt I owe…
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2+ jobs is standard in Maui… myself included. Albeit, between the two it’s about one full-time. At the restaurant I bartend at nearly all of the employees have multiple restaurant/service jobs and live in pretty rough situations - rent a single room, etc. I am often kind of confused why everyone even wants to stay on the island if you have to just work all the time and live like hell but to each their own. I feel very fortunate to do some inspecting and make good money.
As for cash/credit, etc. I can’t imagine not using credit cards and reaping the benefits of points and all that. I’m happy to report that I’m no part of the debt graph though… gotta pay that balance each month!!
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I don’t have any debt right now… unfortunately. But I sure wish I had taken out 20 mortgages when interest rates were 3%. I do the private investigation thing from J.D. just to see what they come up with.
The life of the wealthy and not the Middle Class. We don’t feel your pain… 
Credit card debt is a social problem. People have to stop wanting to be the Kardashians and buying things that they can’t afford with credit cards. I’m old enough to remember when there we no credit cards and you actually saved up for things or bought them on layaway and paid them off. I’ve got several friends who ruined their finances by buying stuff that they didn’t need and going on vacations that they couldn’t afford.
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And likely you didn’t… wealth generally doesn’t come pain free. Anyway, a lack of debt held me down financially, especially during all this recent inflation. Debt is a miraculous wealth-building tool. I think of debt the same way I think of hydraulics (I guess because I’m in the heavy equipment business). Pressurized oil can cut your limbs off, but harnessed and used properly it can do wonders.
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That’s the key right there. I live completely debt-free. I saved up $60k over a few years to buy new vehicle. I could’ve taken out a loan and paid it off over a couple of years, but I’m not interested in giving my money to banks. No mortgage, the kids are long gone out of the house. Life is beautiful!
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And never will Nick. You missed the point. Wealthy bitch no?