Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Thursday, June 07, 2012

Average Canadian Household Debt Hits $112,329: BMO

TORONTO - A new bank study suggests the average Canadian household is more than $100,000 in debt and that Canadians have ramped up borrowing in the past five years.

The first annual BMO survey on household debt found that average household debt among Canadians surveyed stands at $112,329, including mortgage, credit card, line of credit and loan debt.

But the bank says so-called good debt like mortgages outweighs less favourable forms of borrowing.

While 25 per cent of those surveyed say they are debt free, 41 per cent say that they have taken on more debt in the past five years as a result of increased spending.

And 54 per cent of respondents said they expect to be debt free in the next five years.

The survey also found that 70 per cent of Canadians believe they can afford to pay down debt by paying more than the minimum, but one-third appear to be stretched with paying only the minimum amounts.

The report, conducted by Leger Marketing to measure the amount of debt Canadian households are carrying and how it's managed, surveyed 1,507 Canadians in an online poll at the beginning of April.

Original Article
Source: huffington post
Author: CP

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