Payment Delinquencies Spanning All Industries
Mish had a link to the titled report which I think is worth having a look at.
I keep coming up with my bearish attitude because I think about what I see in the economy around what I see as the back bone of all economies, the people.
This survey is show that 43% are saying that it became harder to meet financial obligations in the past year compared to only 15% saying it became easier.
I suppose I should really count my blessings that I would report myself to be in the 15% finding it easier to meet financial obligations, but look what I did to achieve that. I moved to the North West Territories where it has gotten as cold as -48 with the wind chill. I hear in the summer it get to about 30 (that's about 90 F) and you can hardly go out because of the mosquitoes. I am blessed that I get to leave for the summer...
However, if I'd stayed in Vancouver this year would have been yet another with a pay cut due to over hiring so I would have been in the 43% finding it harder.
I am so very tired of Vancouver's tough economy. It has shown me too much of what people do not plan for.
The people are the foundation of an economy and there are simply way too many that are struggling and are maxed out and that just further hurts the whole economy. When an economy is tough, it dumps on people and I think that will be coming big time.