So what’s next to all this? I’m 30 and it seems like nothing will go right ever again for the Canadian economy and no one seems to have a solution other than pointing out what’s going wrong.
(Can’t open article because of G&M pay wall)
Neutral-President on
Canadians have accumulated a ridiculous amount of household debt thanks to near-zero interest rates for nearly a decade, and poor financial literacy. “Yay, free money!”
The crazy bastard is actually going to do it eh? May as well buy USD now, the loonie is going to $0.50
seridos on
Yeah that’s factually true. Anyone who thinks Canada and the US should have the same interest rates is smoking something, and it ain’t just Mary Jane. Interest rates should reflect the conditions of the economy and the conditions between the Canadian and US economies are very different. Canada has way more exposure to the new higher rates, much weaker growth, and much larger debt. Anyone of these on their own to a rate differential, We have all three.
Spare_Leopard8783 on
Tons of Americans have 30 year fixed mortgages at 1 2 or 3 points so for so many the impact isn’t there
KermitsBusiness on
Yeah cause we are poorer and have declining gdp per capita, and its the Federal Governments allowed abuse of temp workers and visas that is to blame.
7 Comments
So what’s next to all this? I’m 30 and it seems like nothing will go right ever again for the Canadian economy and no one seems to have a solution other than pointing out what’s going wrong.
(Can’t open article because of G&M pay wall)
Canadians have accumulated a ridiculous amount of household debt thanks to near-zero interest rates for nearly a decade, and poor financial literacy. “Yay, free money!”
for the paywall:
https://webcache.googleusercontent.com/search?q=cache:https://www.theglobeandmail.com/business/article-tiff-macklem-says-higher-interest-rates-having-more-traction-in-canada/
The crazy bastard is actually going to do it eh? May as well buy USD now, the loonie is going to $0.50
Yeah that’s factually true. Anyone who thinks Canada and the US should have the same interest rates is smoking something, and it ain’t just Mary Jane. Interest rates should reflect the conditions of the economy and the conditions between the Canadian and US economies are very different. Canada has way more exposure to the new higher rates, much weaker growth, and much larger debt. Anyone of these on their own to a rate differential, We have all three.
Tons of Americans have 30 year fixed mortgages at 1 2 or 3 points so for so many the impact isn’t there
Yeah cause we are poorer and have declining gdp per capita, and its the Federal Governments allowed abuse of temp workers and visas that is to blame.