Comments on: Canadians Push Past $2 Trillion In Debt To Set A New Record…Again

By: This Week’s Top Stories: Canadian Debt Gets Worse, Retirement Funds Are $400 Trillion Short, and Vancouver’s Domestic Investors | WewUnik World

Mon, 05 Jun 2017 12:18:01 +0000

[…] Canadians Push Past $2 Trillion In Debt To Set A New Record…Again […]

By: Canadians continue to pile up debt - ARIA post - Aria Pensions

Canadians continue to pile up debt - ARIA post - Aria Pensions — Thu, 01 Jun 2017 18:44:42 +0000

[…] Canadians, it appears, are comfortable with debt, and are growing more comfortable with it as the days roll by. At least that’s one conclusion to the news that consumer debt has hit another record high of more than $2 trillion. As reported by Better Dwelling, Canadians seem to be tuning out all those warnings about debt load and the problems it contains: people with significant debt, including mortgage debt, could be in trouble when interest rates rise, and maintenance of debt usually means Canadians don’t have enough left over for other needs, including saving for retirement. The Bank of Canada’s latest report on the combined consumer debt load “shows Canadians didn’t slow down the rate they accumulated debt, they actually started acquiring it faster” with “residential mortgage and consumer debt” at all time highs, reports Better Dwelling. More: Debt loads climb to record highs. […]

By: Global Debt Tsunami Crests Further in April – HoweStreet

Global Debt Tsunami Crests Further in April – HoweStreet — Wed, 31 May 2017 13:15:44 +0000

[…] Another month, another dubious debt distinction for Canada. See Canadians push past $2 trillion in debt to set a new record, again: […]

By: Mike

Mike — Tue, 30 May 2017 22:52:38 +0000

In reply to Darren.

Well that’s a part of the issue, it’s actually much higher. I read a post on here the other day where the Bank of Canada said they were estimating another $1 trillion in debt instruments in the shadow banking industry, and that’s just what they can find. There’s more instruments, and informal lending going around.

Re: Interest rates, Japan has had low rates for decades now. Takes the economy out, devalues all current money. Cost of housing is junk now however, and whole neighborhoods in Tokyo are now abandoned. They’re still blaming the Chinese for their collapse, 30 years later. This is the future of Canada.

By: Jim

Jim — Tue, 30 May 2017 19:04:22 +0000

In reply to Darren.

“Interst rates cant and probably will never go up just becasue this.”

Sorry Darren, but that is wishful thinking at best!

The US is already raising rates, and is almost definitely going to jack them up one more notch (0.25%) in two weeks time:

http://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html

And if you aren’t sure how/why what the US does affects us in Canada, here’s a quick primer:

http://www.moneysense.ca/spend/real-estate/mortgages/us-federal-reserve-interest-rate-hike-impacts-canadians/

Long story short, the US doesn’t care about Canadians’ household debt, and they’ll drag us kicking and screaming into higher rates, sooner or later.

By: Darren

Darren — Tue, 30 May 2017 13:52:36 +0000

What is the maximum amount of debt canadians could go in? I mean will this get to 3 trillion? What number will it be at when everyone is stuck and cant really ever get out of debt and cant borrow anymore? Is that the point when housing could collapse? Interst rates cant and probably will never go up just becasue this.