Despite what the mainstream media told you, we are in CRISIS MODE. There hasn’t been in a time in history when this much debt has been utilized. But here we are. Most people will point and say “Look! nothing happened. See?” But what happens when interest rates ride just a little. Suddenly the entire market tumbles. Oops. Now we do have a problem.
What do you think?
Canadians have been consuming like their American counterparts. Only one issue is that Canada didn’t see the deleveraging that occurred during the Financial Crisis. It has been full steam ahead the entire time. That’s great news many will say. Well, no coincidence, I happen to disagree. The amount of debt that Canadians are carrying is the worst ever in history. No worries though since this time is different, right?
Canada Household Debt-to-Income Ratio Holds Near Record High
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Cracks ‘Starting to Show’ in Canadian Credit Quality, RBC Says – Bloomberg
Construction Boom Drives Canadian Jobs Gain Beyond Expectations – Bloomberg
Subprime mortgages morph into ‘non-prime’ loans—and demand soars
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