Capitalist Swindling Terms.

Stats-Canada recently released the gloomy news that household debt rose in the first quarter as the COVID-19 pandemic began to impact the economy. There was $1.77 in credit market debt for every dollar of household disposable income.

 Stats-Canada added that annual trends show that lower income households tend to have higher debts, which in capitalist swindling terms is pure genius! Wonder how they figured that out? Overall it said credit market debt totalled $2.33 trillion at the end of the first quarter including $1.53 trillion in mortgage debt and $802.1 billion in consumer credit and non-mortgage loans. And that, folks is the first quarter. 

At the time of writing we don't know what the figures for the second quarter will be, but you can bet they'll stack up, as usual, not in favour of workers’ interests.

S.P.C. Members.