Canadians pile up debt faster than anyone in the world:
http://www.macleans.ca/economy/economic ... g-up-debt/
Canada's Housing Bubble Will Burst:
https://www.bloomberg.com/view/articles ... will-burst
Hmmmmm..... What say you Smiles ????
Tj
Canadians pile up debt faster than anyone in the world:
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fountainhall
Re: Canadians pile up debt faster than anyone in the world:
Love it when a staunch Republican talks about piling up debt. How about a few more facts?
Barrack Obama increased the US national debt by 68% from the legacy of Bush Jnr. However, during this time he had to put in place expensive measures to cope with the worst recession since 1929 caused during Bush Jnr's reign. Had he not done so, there would probably be no car industry and a vast number of Americans would no longer have jobs, own homes. etc. YET . . .
Bush Jnr. increased by 101%
Clinton increased by 32%
Bush Snr. increased by 54%
Reagan increased by 186%
Carter by 43%
Guess which party increased national debt by by far the largest amounts - both in percentage terms and actual dollars? So talking about other countries debt levels is more than laughable!
https://www.thebalance.com/us-debt-by-p ... nt-3306296
Barrack Obama increased the US national debt by 68% from the legacy of Bush Jnr. However, during this time he had to put in place expensive measures to cope with the worst recession since 1929 caused during Bush Jnr's reign. Had he not done so, there would probably be no car industry and a vast number of Americans would no longer have jobs, own homes. etc. YET . . .
Bush Jnr. increased by 101%
Clinton increased by 32%
Bush Snr. increased by 54%
Reagan increased by 186%
Carter by 43%
Guess which party increased national debt by by far the largest amounts - both in percentage terms and actual dollars? So talking about other countries debt levels is more than laughable!
https://www.thebalance.com/us-debt-by-p ... nt-3306296
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travelerjim
Re: Canadians pile up debt faster than anyone in the world:
Thank you Fh...
I too love it when the fact that President Obama piled up the National Debt from 8 Trillion dollars to nearly 20 Trillion dollars during his eight years as President.
The piling on the debt must be curtailed...
Who will have the political courage to stop kicking the debt can down the street?
That's the challenge of today in America.
President Trump was elected to change the course of our Washington DC debt fiasco... Bringing business management to our expenditures. That's a hard task to take on with all the political and special interests and lobbyists pushing for added spending.
Tj
I too love it when the fact that President Obama piled up the National Debt from 8 Trillion dollars to nearly 20 Trillion dollars during his eight years as President.
The piling on the debt must be curtailed...
Who will have the political courage to stop kicking the debt can down the street?
That's the challenge of today in America.
President Trump was elected to change the course of our Washington DC debt fiasco... Bringing business management to our expenditures. That's a hard task to take on with all the political and special interests and lobbyists pushing for added spending.
Tj
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travelerjim
Re: Canadians pile up debt faster than anyone in the world:
Fh...
I'm not laughing at Canada...
I merely shared with you guys what is apparently happening in Canada... And they are not alone in the massive amount of debt being incurred.
Just what will trigger the next massive downturn in the financial markets worldwide,?
America too is at fault.
But who has the will and foresight to take actions to lessen the pressures economically for the next significant downturn in the market place?
During my active life as a financial planner I witnessed two downturns of 50% ...when is the next major financial earthquake going to occur?
Tj
I'm not laughing at Canada...
I merely shared with you guys what is apparently happening in Canada... And they are not alone in the massive amount of debt being incurred.
Just what will trigger the next massive downturn in the financial markets worldwide,?
America too is at fault.
But who has the will and foresight to take actions to lessen the pressures economically for the next significant downturn in the market place?
During my active life as a financial planner I witnessed two downturns of 50% ...when is the next major financial earthquake going to occur?
Tj
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fountainhall
Re: Canadians pile up debt faster than anyone in the world:
Facts, dear TJ please. The national debt at the end of the George Bush tenure was $10.8 trillion - not 8 trillion. He added a total of 5.949 trillion, the second largest of all Presidents.travelerjim wrote:I too love it when the fact that President Obama piled up the National Debt from 8 Trillion dollars to nearly 20 Trillion dollars during his eight years as President.
But best not to confuse the issues. I was talking about percentages. You talk about amounts. Not the same. Do you seriously believe Obama's increase in the deficit would have occurred IF he had taken over the budget surplus inherited by George Bush Jnr.? Of course not. OR without the world's worst recession since 1929 - crested you'll recall on Bush's watch? Both are fanciful nonsense!
Instead of saving it for a rainy day, Bush gave away that surplus to his rich cronies. And then - oops - along came 9/11 and he suddenly needs billions and billions for his ill-thought through, badly planned and misguided wars that have totally destabilised the Middle East and whose effects will be felt worldwide for decades. Whilst we're at it, Bush pushed up the unemployment rate from 4.2% to 7.8%. Obama reduced it from 7.8% to 4.5% and the lag in effect means it actually dropped to 4.3%.
Yes, I agree. Deficits can only go so far. I don't for a minute believe Trump will reduce it - but I'll be happy to be proved wrong.
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travelerjim
Re: Canadians pile up debt faster than anyone in the world:
Fh...
I will be too
"Yes, I agree. Deficits can only go so far. I don't for a minute believe Trump will reduce it - but I'll be happy to be proved wrong."
Tj
I will be too
"Yes, I agree. Deficits can only go so far. I don't for a minute believe Trump will reduce it - but I'll be happy to be proved wrong."
Tj
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firecat69
Re: Canadians pile up debt faster than anyone in the world:
The only deficit Trump will reduce is the money he owes the Russians. Not that hard to reduce the deficit start making the crooks on Wall Street pay more %-wise than most secretaries .
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Rin
Re: Canadians pile up debt faster than anyone in the world:
Why Canada Avoided a Mortgage Meltdown of 2008
This relative creditor conservatism has meant that Canada and Canadian banks have so far come through the international financial crisis in much better shape than their U.S. counterparts. Canada didn’t avoid the recession, but mortgage delinquencies have so far remained much lower than in the U.S., with the percentage of loans delinquent 90 days or more at approximately one-tenth of the U.S. level.
Here’s the home ownership rate in Canada: 68%. In the U.S. it’s 67%. The U.S. rate peaked at the top of the housing bubble at 69%. In other words, two very different housing finance systems, one much riskier than the other, produced virtually the same home ownership rate.
https://www.aei.org/publication/why-can ... eltdown-2/
This relative creditor conservatism has meant that Canada and Canadian banks have so far come through the international financial crisis in much better shape than their U.S. counterparts. Canada didn’t avoid the recession, but mortgage delinquencies have so far remained much lower than in the U.S., with the percentage of loans delinquent 90 days or more at approximately one-tenth of the U.S. level.
Here’s the home ownership rate in Canada: 68%. In the U.S. it’s 67%. The U.S. rate peaked at the top of the housing bubble at 69%. In other words, two very different housing finance systems, one much riskier than the other, produced virtually the same home ownership rate.
https://www.aei.org/publication/why-can ... eltdown-2/