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The State of the American Debt Slaves, Q1 2020

The State of the American Debt Slaves, Q1 2020 How are consumers positioned going into the crisis? Most of the first quarter was still the Good Times, but in later February and early March it hit the fan, as markets were crashing. In mid-March lockdowns started to roll across the country, and the layoffs by […]

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HELOCs in the US & Canada: As “Scarred” Americans Learned Bitter Lesson, Canadians Went Nuts

HELOCs in the US & Canada: As “Scarred” Americans Learned Bitter Lesson, Canadians Went Nuts Home-equity-loan balances in Canada per capita are now 3.3 times what they were in the US during HELOC peak before it all collapsed. Home Equity Lines of Credit – the infamous HELOCs Americans used as endless ATMs to draw equity […]

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Congrats! Canadians Just Set A New Record For Borrowing Against Their Homes

Congrats! Canadians Just Set A New Record For Borrowing Against Their Homes Canadian real estate related debt tapering? That would be ridiculous! Filings obtained from the Office of the Superintendent of Financial Institutions (OSFI) show, after a brief decline in January, the balance of loans secured by residential real estate hit a new high in […]

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Household Debt Rises By $572 Billion, Ends 2017 At All Time High

Household Debt Rises By $572 Billion, Ends 2017 At All Time High After we first reported last week  that US credit card, student and auto debt all hit record highs in December of 2017… … it should not come as a surprise that according to the just released latest quarterly household debt and credit report  […]

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Canadian Homeowners Take Out HELOCs to Fund Subprime Buyers Unable to get a Mortgage

Canadian Homeowners Take Out HELOCs to Fund Subprime Buyers Unable to get a Mortgage The Housing & Debt Bubble ascends to the next level of risk. By Steve Saretsky, Vancouver, Canada, Vancity Condo Guide: The HELOC (Home Equity Line of Credit) has been a blessing and a curse for Canadian households. While it has helped spur […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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