This Old Economist: “Correction - there’s more than one problem”

So, what else is new?

After all, many consumers are wired to spend much more money than they earn, as if their life depends on it. (It likely doesn’t).

Correction #1: “Some” Canadian consumers...

Correction #2: There is more than the problem of rising unemployment.

- a weakening or self-correcting economy

- an increase in interest rates

- continued damage to the environment

(For starters).

Recommendations

- reduce spending

- pay down debt

- save money for tough times

(For starters).

[Photos by G.Harrison]

***

Please click here for more This Old Economist