Canadian banknotes are seen here in this stock image. Canadian households now have $1.58 in credit market debt for every dollar of disposable income, according to StatCan.
In other words, Statistics Canada says there was $1.58 in credit market debt, which includes consumer credit, and mortgage and non-mortgage loans, for every dollar of household disposable income. “One of the major risks heading into this pandemic-induced recession was the high level of household indebtedness in Canada, which could greatly amplify the hit to the economy and slow the subsequent recovery,” Bushmeneva wrote in a report.
Not my debt.
Its totally crazy to think debt is better position. Total GDP is way down and the population is way up. HuffPost spin is hurting us.
Yeah that’s bullshit, talk about FAKENEWS these guys must be Trudeaulovers blackfacelovers peoplewhosleepwithoneeyeopen crooks ASSHOLES spinlesslittlepricks rippingoffCanadians stealingCanadiantaxpayermoney
Isn't that what happens when folks go bankrupt?
Headlines are misleading. So are stats. Read the article carefully. Rough waters ahead.
Lol, they couldn't go out and spend their CERB. Businesses were all closed. Now, the mortgage is coming due. Deferred becomes immediate.
The corporate world is making billions of this hoax.
Yeah, sure. 🤣 JustinTrudeau, the fool, and his band of idiots rain money from the heavens. People use the money. The money is taxable. How many of these people who are “in a better debt position” saved some of the money so they could pay their taxes? This will be reversed.