Bank of Canada; Eating Crow?

Is the Bank of Canada now in the process of beginning to eat crow? The Bank of Canada admitted on May 13, 2021 that “some of the monetary policy tools it is using to address the COVID-19 pandemic, such as…

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Is this the start of the free fall?

Canadians’ personal finances are starting to show their financial fragility. According to the Office of the Superintendent of Bankruptcy Canada the total number of insolvencies (bankruptcies and proposals) in Canada increased by 22.7% in March 2021 compared to the previous month….

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Fiscal Prudence Be Damned!

As pandemic-related government aid and loan deferral programs begin to wind down, the latest MNP Consumer Debt Index finds the number of Canadians hovering close to financial insolvency has reached a five-year high. More than half (53%) say they are…

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Equifax: Consumer Debt Continues to Climb

Increased mortgage activity and rising house prices in the fourth quarter of 2020 pushed the overall consumer debt level to $2.07 trillion, up 1.5 per cent from last quarter and up 4.1 per cent from Q4 2019. Despite the increase…

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Canadian Consumer Debt Tops $2 Trillion

Continued growth in the housing market and new auto loans led the way in driving total consumer debt up by 3.8 per cent to $2.041 trillion in the third quarter of 2020, according to Equifax Canada’s most recent report on…

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We are the Champions!

Canada is officially the global leader in debt.  The most heavily encumbered house in the neighborhood! A recent report by the Institute of International Finance (IIF) indicates Canada saw the biggest jump in non-financial sector debt this year.  Bigger than…

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