Canada World Debt Leader

[jazz]

From Nat Post today;

https://business.financialpost.com/executive/posthaste-canadas-world-leading-debt-could-be-its-downfall-in-global-downturn-report-warns Canada’s world-leading debt could be its downfall in global downturn, report warns

How bad is our debt? Total credit for the non-financial sector in Canada as a proportion of GDP was 305.7% in the second quarter of 2019, according to the Bank for International Settlements. That’s higher than the average of Canada’s economic peers at 272.3%. Since 2008, that debt to GDP ratio has risen 32.5%, compared with an average rise of 13.8% in other advanced economies.

[furrowtickler]

From Nat Post today;

https://business.financialpost.com/executive/posthaste-canadas-world-leading-debt-could-be-its-downfall-in-global-downturn-report-warns Canada’s world-leading debt could be its downfall in global downturn, report warns

How bad is our debt? Total credit for the non-financial sector in Canada as a proportion of GDP was 305.7% in the second quarter of 2019, according to the Bank for International Settlements. That’s higher than the average of Canada’s economic peers at 272.3%. Since 2008, that debt to GDP ratio has risen 32.5%, compared with an average rise of 13.8% in other advanced economies.

Don’t worry , sunny days ahead and the budget will balance itself .
Enter carbon tax to be ramped up 2-3x

[seldomseen]

i am not surprised at all with the way this government throws money away. There is nothing getting built and no mega projects going on. Stealing from our kids,grand kids and great grand kids so you can live the easy life is sicking and should be illegal!

[Zephyr]

You guys can't read...


They aren't talking government debt.


They are talking all debt - consumer debt. Business debt.

Households led that “borrowing binge” with debt rising to 100.3% of Canada’s GDP, the highest of any nation except Denmark (115%) and nearly twice the G20 average of 59.5%. (In the United States it’s 75%).

[flea beetle]

You guys can't read...


They aren't talking government debt.


They are talking all debt - consumer debt. Business debt.

Would it not be government policies that pushed people to borrow in the first place?

[Horse]

Would it not be government policies that pushed people to borrow in the first place?

Always looking for a scape goat,greed,and want it now is more likely the driving force behind debt.

[flea beetle]

Always looking for a scape goat,greed,and want it now is more likely the driving force behind debt.

You are right, has nothing to do with interest rates being held at artificially low rates.

[sawfly1]

You can see real estate debt.
Fueled by low interest rates.

But to carry debt on credit
Cards for luxury items , vacations
Or car repairs, at 20-30%
You Can not blame Gov. For that.

Nothing low interest there..

[chuckChuck]

Canadian farmers have over $100 billion in farm debt! More debt than many countries that are considered basket cases. Farmers are also going to be in trouble if interest rates rise and inflation kicks in.

[flea beetle]

Canadian farmers have over $100 billion in farm debt! More debt than many countries that are considered basket cases. Farmers are also going to be in trouble if interest rates rise and inflation kicks in.

And had interest rates been raised 8-10 years ago, a lot of that debt wouldn't have been racked up. Machinery and land prices would also be a lot lower, thus helping even more. Raising the interest rates earlier was the smarter and less painful way to go. Just wasn't the popular decision.