#1
Post rating: ~
...on debt

Personal debt ratio hits record high of 163.7%
CBC News Posted: Dec 13, 2013 11:53 AM ET Last Updated: Dec 13, 2013 2:45 PM ET

The amount that Canadians owe compared to their disposable income rose to an all-time record last quarter, although their net worth also increased.

Statistics Canada reported Friday that the level of household credit market debt to disposable income increased to 163.7 per cent in the third quarter from 163.1 per cent in the second quarter.

That means Canadians owe nearly $1.64 for every $1 in disposable income they earn in a year.
…

Policymakers are fixated on the debt ratio in part because it was at above 160 per cent that households in the United States and Britain ran into trouble about five years ago, contributing to defaults and the financial crisis that triggered the 2008-09 recession.
…




the "rising net worth" is based on the housing bubble



the impending disaster is sort of a good thing in the sense that it will disprove the liberal-progressive delusion that traditional, regulated banking makes any difference at all.

in every other sense it will be really terrible. there are a lot of vulnerable people who aren't doing great under the current "good" economic conditions, and the government has been slashing away at welfare ($600/month), disability ($1,025/month) and employment insurance for a while now. we haven't really seen a serious recession in the time since these (and a lot of other social programs) got slashed. also our traditional 'devalue the dollar & export our way out of the recession' strategy (basically what the central bank already attempted to do post-2008 but instead created a massive asset/debt bubble) can't work under the current international monetary conditions. i fear for my countrymen

#2
Post rating: ~
they're just like us.

When it comes crashing down and it hurts inside
You gotta take a stand it don't help to hide
If you hurt my friends, then you hurt my pride
I gotta be a man, I can't let it slide
I am a real (North) American.
#3
Mike Nelson here.
Post rating: +
Don't blame me, I vote NDP
#4
Post rating: +
Excuse me OP, it appears you've never heard of Condos. Allow me to explain why It's Different This Time,
#5
Post rating: +
Man I can't wait for all the idiots who invested in real estate to lose all their money so I can get in on that sweet real estate action.

-D&D Housing Bubble Thread.
#6
Toronto
Post rating: ~
I live in Canada and the the only experience I have of the impending economic collapse is the tuition fee is raising in my uni by 5 %. they also made me write my exam today even rthough it was a fucking snowstorm and i had to shovel my driveway to get there
#7
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I eagerly await our impending economic collapse so that I can whisper "I told you so" to my fellow Albertans while we're being herded from the slave warrens to the oil pits
#8
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my parents' life savings are tied up in this lol
#9
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my parents life savings are tied up in an elaborate rube goldberg machine that eventually prints the message "we are going to be working until we die"
#10
Post rating: ~

fleights posted:

I live in Canada and the the only experience I have of the impending economic collapse is the tuition fee is raising in my uni by 5 %. they also made me write my exam today even rthough it was a fucking snowstorm and i had to shovel my driveway to get there



Haha yeah being in school owns until you graduate with thousands of dollars of debt and realize it's literally impossible to get a job that pays over $12/h if you're lucky. Congrats.

#11
Kurdt
Post rating: +

RBC posted:

a job that pays over $12/h


http://www.globalrichlist.com

#12
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Thirsty? It’ll only take you a minute to earn enough for a refreshing can of cola. If the average labourer in Ghana fancies one, they’ll have to work for around 7 hours for it.

maybe they shouldn't fancy sugar water in the first place
#13
Mike Nelson here.
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the leader of the bloc is resigning today because of illness. so they will probably have a leadership election soon i guess. as a patriot i will join and vote.
#14
Mike Nelson here.
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whoa the leader of the bloc has Brain Problems. goodbye friend.
#15
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it will be nice to be able to actually afford rent when the bubble pops
#16
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So apparently Unifor is trying to set up community groups, with funding and everything supported with helpful union funds. Of course the front page of the Post has them declaring this is illegal, so I'm starting to think it's a good idea? Anyone want to help me start a community group with the goal of destroying capitalism?
#17
Post rating: ~

Red_Canadian posted:

So apparently Unifor is trying to set up community groups, with funding and everything supported with helpful union funds. Of course the front page of the Post has them declaring this is illegal, so I'm starting to think it's a good idea? Anyone want to help me start a community group with the goal of destroying capitalism?


i'll make the website

#18
mt.real
Post rating: ~

Red_Canadian posted:

So apparently Unifor is trying to set up community groups, with funding and everything supported with helpful union funds. Of course the front page of the Post has them declaring this is illegal, so I'm starting to think it's a good idea? Anyone want to help me start a community group with the goal of destroying capitalism?


nah