| (5000 Emergency Loans) Debt Trap (5 of 5) |
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More info... Some facts established in this documentary: - Canadians collectively owe $1,000,000,000,000+ 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: $70,000 - $80,000. - personal bankruptcies up 400% in 25 years. - savings rate now an all time low of 0%. - avg house price in 1978: $50,000+ (amortization: 15 years). - avg house price in 2008: $300,000+ (amortization: 25 or 30 years). - avg wage increase 0% while cost of living up 200% to 300% in the last 30 years. - "free trade" did not translate to a higher standard of living for all Canadians. Instead the rich got richer, the poor got poorer, and the middle class is struggling to stay afloat. - only 1 in 3 of the unemployed get E.I. (was 4 in 5 20 years ago). - avg student loan debt $25,000+. - politicans are pushing a U.S. style education system in which only the rich is able to afford higher education. - payday loan shops charge up to 3041% interests. - over 60% interests is considered usury according to law - federal government has not enforce the usury law against loan shops.
Author: nibelungensohn
More info...
www.guba.com |
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- (5000 Emergency Loans) Debt Trap (5 of 5)

