Total Outstanding Debt Climbs to $1.991 Trillion

Despite the economic impact of COVID-19, a strong recovery in the Canadian housing market and a slower paydown of existing mortgages helped push total consumer debt to 1.991 trillion dollars in the second quarter, according to Equifax Canada’s most recent…

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The Ticking Corporate Debt Bomb

The Basics Corporations are simply an organized group of people. Like with people the higher your debt levels, the harder it is to service your debt. Corporate Canada’s debt (both loans and bonds) currently totals $2.7 trillion — or the…

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Good news that ain’t really good.

Good News There was a sharp decline in the use of credit cards in the last half of March!  This led to the first drop in consumer debt balances in more than a decade!   Average debt excluding mortgages dropped…

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Covid-19: The Hangover Part 2

Debt holders have enjoyed highly favourable interest rates for well over a decade, after the 2008 economic recession sent borrowing costs to record lows. But economic lockdowns aimed at curbing the spread of the coronavirus have sent unemployment rates soaring,…

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COVID-19: The Hangover Part 1

With the bevy of Covid-19 stimulus and support programs having been launched over the last 60 days the federal debt is headed to crush the $1 Trillion mark for the first time in history this year! However, some (MMT’s modern…

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