Sounds promising?
Read the first sentence:
The number of Canadian bankruptcies reported in January dropped by 6.7% from December in the biggest decline for the month in 20 years, government figures showed.
So, what the story really means is, bankruptcies post the biggest drop in January in 20 years.
Okay, that is a bit of positive news when you consider that, ‘traditionally, January is a month when bankruptcies rise.’
But, when we consider what 2009 was like over all (‘For the 12-month period total insolvencies increased by more than a quarter, almost entirely fuelled by personal bankruptcies. Canada’s household debt levels have reached record levels, raising concern about the potential impact of rising interest rates on consumer finances’) maybe we should still proceed with much caution.
No matter whether I was young or old, I’d be spending less, paying down debt and saving money for the tough times ahead.
And I’d read headlines very carefully.
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