Canadian Consumer Debt Continues to Climb
It seems we just can’t get over debt here in Canada. Or rather, we can’t stop piling it on. Just when the numbers start to show that we’re making headway on it, and that we’ve stemmed the spending, another one comes out saying that we’ve once again gotten ourselves in far too deep. That’s just…
Read morePicture of Provincial Debt: Part 11, Newfoundland & Labrador
The picture of debt in Newfoundland and Labrador, like so many other provinces, is a conflicted one. Due to a steady decline in fishing and forestry industries in the early 2000s, Newfoundland & Labrador was often thought of as a “have-not” province. It never saw the huge influx of its populations as provinces out West,…
Read moreForget about Underwater Mortgages, What about Your Car?
We’ve talked a lot on this blog before about housing bubbles in Canada. What they are, whether there is one, isn’t one…it’s a subject that’s been just about beat to death. But there’s good reason for hammering away at this particular subject. With housing bubbles come falling home values shortly after, and that means underwater…
Read morePicture of Provincial Debt: Part 10, Prince Edward Island
At first glance, the picture of provincial debt in Prince Edward Island could indeed look grim. P.E.I. is the third most indebted province in all of Canada behind Ontario and Quebec, with a total net debt of $1.8 billion, that’s currently 34% of the province’s GDP. But aside from these alarming statistics, it might be…
Read moreHow Much are You Spending on Christmas this Year?
The American Thanksgiving bells have chimed, and even here north of the border we’ve had just about all of the Black Friday and Cyber Monday madness that we can stand. But we’ll take just a short rest (maybe some of us will even hold out until the weekend!) before we start splurging on the next…
Read moreThe Picture of Provincial Debt: Part 9, Nova Scotia
The picture of debt in Nova Scotia is a conflicting one for sure. Nova Scotia has one of the lowest debt loads in the country, both in total public debt, and debt per capita. And while the recession was certainly felt in this province, you can barely tell by looking at the total amount of…
Read moreMark Carney Leaves Us for Bank of England
Well, it’s finally happened. Back in May when it was first brought up that Mark Carney may be leaving us to go head the Bank of England, he refuted the idea saying he “wasn’t contemplating it.” Now he has, and he’s leaving. It was announced yesterday, by the Bank of England Chancellor, George Osborne, that…
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