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“Canada Is In Serious Trouble” Again, And This Time It’s For Real
“Canada Is In Serious Trouble” Again, And This Time It’s For Real Some time ago, Deutsche Bank’s chief international economist, Torsten Slok, presented several charts which showed that “Canada is in serious trouble” mostly as a result of its overreliance on its frothy, bubbly housing sector, but also due to the fact that unlike the […]
The Inconvenient Truth of Consumer Debt
The Inconvenient Truth of Consumer Debt It’s acceptable to build infinitely high levels of household debt — as long as rates never rise. Ready for a rainy day?Photographer: Anoek De Groot/AFP/Getty Images Oh, but for the days the hawks had a hero in Sydney. Against the backdrop of a de facto currency war, the Reserve […]
These are the Countries with the Biggest Debt Slaves, and Americans Are Only in 10th place
These are the Countries with the Biggest Debt Slaves, and Americans Are Only in 10th place So who the heck are the Really Great Ones? Americans have been on a borrowing binge. To buy their favorite cars and trucks, they’ve loaded up on $1.14 trillion in auto loans. Young and not so young Americans are mortgaging […]
Household Debt Hits $12.4 Trillion As Subprime Loan Delinquencies Hit Highest In 6 Years: NY Fed
Household Debt Hits $12.4 Trillion As Subprime Loan Delinquencies Hit Highest In 6 Years: NY Fed The latest just released Quarterly Report on Household Debt and Credit from the New York Fed showed a small increase in overall debt in the third quarter of 2016, prompted by gains in non-housing debt, and new all time highs in […]
Canada’s debt-to-income ratio sets new record high at 165%
Canada’s debt-to-income ratio sets new record high at 165% Canadians now owe $1.65 for every dollar of income they have at their disposal. (Joe Raedle/Getty Images) The ratio of household debt to disposable income hit a new record in the fourth quarter of last year. Statistics Canada says the ratio rose to 165.4 per cent […]
Canada’s “Other” Problem: Record High Household Debt
Canada’s “Other” Problem: Record High Household Debt Earlier today, the Bank of Canada surprised some market participants by failing to cut rates. True, the loonie was plunging and another rate cut might very well have accelerated the decline, further eroding the purchasing power of Canadians who are already struggling to keep up with the inexorable rise […]
Household debt still rising, but most Canadians in decent shape: experts
Household debt still rising, but most Canadians in decent shape: experts Bank of Canada worries some Canadian households may be over their heads Most Canadians handle debt well, but a small minority have so much, they might everntually be in trouble. (CBC) Canadian households will close out 2015 carrying thicker layers of debt after worrisome […]
“Don’t Owe. Won’t Pay.” Everything You’ve Been Told About Debt Is Wrong
“Don’t Owe. Won’t Pay.” Everything You’ve Been Told About Debt Is Wrong With the nation’s household debt burden at $11.85 trillion, even the most modest challenges to its legitimacy have revolutionary implications. The legitimacy of a given social order rests on the legitimacy of its debts. Even in ancient times this was so. In traditional […]
Household Debt Soars in Canada, “Stability” at Risk
Household Debt Soars in Canada, “Stability” at Risk Debt by Canadian households is a special phenomenon. Statistics Canada reported today that in the fourth quarter, household debt set another breath-taking record. Earlier this month, even Equifax Canada, which is in the business of facilitating and increasing this indebtedness, had warned about it. The total indebtedness […]
‘Welcome Signs Of Cooling’ In Canada’s Overvalued Housing Markets: IMF
‘Welcome Signs Of Cooling’ In Canada’s Overvalued Housing Markets: IMF Canada’s housing markets will cool this year, leading to a more “balanced” economy — one that is not as dependent on growing consumer debt, the International Monetary Fund says. In a report released Friday, the IMF estimated house prices are overvalued by 7 to 20 per […]
Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk
Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk Ratings agency Fitch had already warned about Canada’s magnificent housing bubble that is even more magnificent than the housing bubble in the US that blew up so spectacularly. “High household debt relative to disposable income” – at the time hovering near a […]
Household Debt In Canada Hits Record 162.6% Of Income After StatsCan Revisions
Household Debt In Canada Hits Record 162.6% Of Income After StatsCan Revisions Canadian household debt reached an all-time high in the third quarter of 2014,Reuters reports. Average household debt reached 162.6 per cent of average household disposable income in the quarter. Statistics Canada revised its estimates for the previous three years downward, so the […]
