I've put a bunch of them on ignore and decided they aren't worth my time at all. The guy has no idea what he's talking about most of the time, if we take much of what he posts at face value ( on a variety of topics, not just Canada ). Where the trolling starts and stops in unclear, he seems to believe a lot of half truths that he hears over lunch with his work colleagues.
O Canada
- Thread starter Banjo
- Start date
I've put a bunch of them on ignore and decided they aren't worth my time at all. The guy has no idea what he's talking about most of the time, if we take much of what he posts at face value ( on a variety of topics, not just Canada ). Where the trolling starts and stops in unclear, he seems to believe a lot of half truths that he hears over lunch with his work colleagues.
Canada's consumers working on going broke... just a matter of time until the crisis.
Canada’s household debt is now bigger than its GDP, for the first time
http://business.financialpost.com/n...is-now-bigger-than-its-gdp-for-the-first-time
The insatiable appetite of Canadians for cheap credit has been well-documented since the Great Recession, as consumers piled on debt by ever-increasing numbers.
Now, household borrowing has reached a new milestone, of sorts.
For the first time, the level of debt held by Canadians has exceeded the country’s gross domestic product as the red ink spilled over in the second quarter to 100.5 per cent of GDP, up from 98.7 per cent during the previous three-month period.
(More at above url)
Canada’s household debt is now bigger than its GDP, for the first time
http://business.financialpost.com/n...is-now-bigger-than-its-gdp-for-the-first-time
The insatiable appetite of Canadians for cheap credit has been well-documented since the Great Recession, as consumers piled on debt by ever-increasing numbers.
Now, household borrowing has reached a new milestone, of sorts.
For the first time, the level of debt held by Canadians has exceeded the country’s gross domestic product as the red ink spilled over in the second quarter to 100.5 per cent of GDP, up from 98.7 per cent during the previous three-month period.
(More at above url)
Rear_Ender assures us there is no bubble in sight !!!!
The article states per capita net worth for Canada at 271K CD (Which is likely the 2015 number). I calculated that the 2014 per capita net worth in the U.S. was about 330K in CD using the current exchange rate and a U.S. population of 319 Million (2014). These are somewhat comparable numbers but the household wealth distribution is startlingly different in the two countries. In Canada the top quintile of households (top 20%) holds 47% of the wealth whereas in the U.S. it is 85%. In the U.S. the top 2% of households holds roughly as much wealth as Canada's top 20%.
The debt/GDP ration for the U.S. in 2008 was three times what the Canadian debt/GDP ratio is now. They've got a long way to go to catch up to the U.S. Let's hope, for their sake, they don't. In the U.S. rising household debt was a result of falling real wages with the difference between cost of living and real wages made up with credit. I hope the Canadians, a wonderful country filled with wonderful people, will learn from U.S. mistakes and not repeat them.
Spent a late July-Early August in Quebec. Ready to go back anytime. Lovely!
Oh, Canada,
We stand on guard for thee.
