HOME BOOK COVER BIOGRAPHY COPYRIGHT CONTENTS PLATES TABLES CHARTS BIBLIOGRAPHY AUTHORS INDEX BIBLICAL INDEX SUBJECT INDEX SEARCH LEGAL

CHAPTER 15

Duels Between Lenders and Borrowers

 

The last business cycle in Canada spanned about 10 years. Overinvestment have plagued Canada, the United States, Japan, and numerous other countries. In Canada, massive overinvestments in commercial real estate by speculators, supported by banks and trust companies, were followed by enormous increases in non-accrual loans, record surges in bankruptcies, substantial increases in the unemployment rate, enormous government deficits, soaring crime rates, and destabilizing and possibly dangerous increases in personal debt. (Powerful corroborating empirical evidence is presented in Book II.)

Bankruptcy statistics measure economic destruction. In one form or another, each bankruptcy is a lost economic duel between a citizen or a business, and their lenders and creditors. If bankruptcies qualify as casualties, then Canada must have been in a state of savage economic war.

Consumer and Business Bankruptcies. Statistics from Consumer and Corporate Affairs Canada, for the 10-year period ended in 1995, indicate that the total number of personal and business bankruptcies in Canada was an incredible 551,645!

Of course, bankruptcies do not only affect the bankrupt; they can be devastating to his or her family -- the spouse of the bankrupt, their children, and other dependents. And the devastation can go on for years. Ironically, while over half a million economic duels were raging between Canadian citizens or businesses and their creditors, Canada was projecting the image of a peace-loving country -- in Kuwait, in Somalia, in Bosnia, in Haiti, in Zaire, etc. Considering that Canada is blessed with incredible natural resources and untold wealth, and that its population is a mere 30 million, in a geographical area greater than China and Japan combined, the implied economic kill ratio for Canada borders on economic terror.

 


 

CREATIVE DESTRUCTION OR PREDATION?
EVIDENCE FROM PER-CAPITA MORTALITY OF BUSINESSES IN THE U.S. AND CANADA

 

Plate 15-1
  
Plate 15-1   Empirical Evidence of Substantial Increase in the Perniciousness of the North American Marketplace: Per-Capita Mortality of Businesses in the U.S. (1966-1996), Canada (1966-1996), and Japan (1980-1992) -- Compared

Sources:

  1. Consumer and Corporate Affairs Canada, Bankruptcy Branch (Canadian business failures); and Statistics Canada (Canada's population).
  2. Economic Report of the President, February 1997, at 337 (Table B-32: Population by Age Group, 1929-96; total U.S. population, July 1; cited source: Department of Commerce, Bureau of the Census), and 407 (Table B-94: Business Formation and Business Failures, 1955-96; business failures data ending 1983 and beginning 1984 are not strictly comparable; cited sources: Department of Commerce (Bureau of Economic Analysis) and The Dun & Bradstreet Corporation).
  3. International Monetary Fund, International Financial Statistics Yearbook, XLIV-XLIVII (1991 through 1994) and International Financial Statistics, XLVI (5)-XLIX (6) (May 1993 through June 1996), Washington, DC: International Monetary Fund (population data for Japan 1977-1993); and R.C. Hsu, The MIT Encyclopedia of the Japanese Economy, Cambridge, MA: Massachusetts Institute of Technology, 1994. (Japanese business failures for 1980-1992, at 31; cited sources: Teikoku Databank Ltd. and Nikkei Electronic Databank System.)

[Copyright 1998 by MACROKNOW INC. All rights reserved.]

  

 


Google Search
 
Macroknow Much Mind Mind Hat Brand New Law Web

 


Macroknow Inc. Indexes Educational Media
Macroknow Mind Indexes New
Brand Indexes (Coming Soon)
Macroknow Library
Brand New Law
WorldGeist
(Coming Soon)
Analytical Services Business Media Books
Services Much Mind
Mind Chronicle

History
Ed's Favorite Quotations
World War III Against the Money Trust?
Bank-Induced Risks
Software Regional Media Legal
Time Platform (Coming Soon) Mind Hat Terms and Conditions


Please read carefully the Terms and Conditions [ Legal ] before accessing or using this Macroknow Website.

Copyright 1998-2008 by Edward E. Ayoub. All Rights Reserved.
Copyright 1998-2008 by Macroknow Inc. All Rights Reserved.

Digital Art Copyright 1998-2008 by Edward Thomas Matthew Ayoub. All Rights Reserved.

Macroknow™, Macroknow BookView™, Macroknow i-Books™, Macroknow i-Services™, Macroknow WorldHood™, and the Macroknow logos are trademarks of Macroknow Inc.

Other product, service, or company names mentioned in this Web may be the trademarks of their respective owners.

MK-19980805-WW3. Last modified: 2012-01-04