The Silence of Economists
Mikko Packalen, an Associate Professor of Economics at the University of Waterloo and Jay Bhattacharya, a professor of medicine at Stanford University and a research associate at the National Bureau of Economic Research…
Consider Freedom on Sept 20, 2021
If our culture of trust and freedom is to flourish, we individuals must live out a few certain simple principles. Freedom is not the permission to do what we like, but the power to do what we ought. Exercise…
Are Higher Mortgage Rates on the Horizon?
Canadian households, wooed by historically low interest rates, have accumulated mortgage debt at a rate never seen in a recessionary period. Are they ready for higher mortgage interest rates? In a recently released joint whitepaper, Equifax Canada and CIBC take…
Is it acceptable or wise to not pay your bills?
Below is a powerful excerpt from Jordan B. Peterson as it appears in his book Beyond Order – 12 More Rules for Life (page 348). Word for word. We’ve simply taken the paragraph and parsed it into 5 distinct pieces…
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…
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….
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…
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…
The Roller-Coaster of Consumer Insolvencies (@ 20 Year Lows)
Canadian consumer insolvencies dropped last year to the lowest level in two decades, as government support measures and creditor deferral programs allowed borrowers to keep making monthly payments. We took a look at our own internal insolvency numbers by year…
What is the Bible’s advice on debt?
Not only has Canada become a debtor nation (click here), but most Canadians are drowning in debt. Our day–to–day dependence on debt begs the question: Can the bible teach us anything about debt? First, the Bible…