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Death and Taxes – and Debt

The old joke about the sure things in life used to refer to death and taxes. I think we need to add consumer debt to this list. Certainly if one considers the irrefutable fact that Canadians have borrowed more and more money each and every year – from $20 billion in the 1970s to the current outstanding consumer debt of $516 billion today. Debt is just as predictable as death and taxes.

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