How alarming is Canada’s household debt exceeding GDP?
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- เผยแพร่เมื่อ 25 พ.ค. 2023
- There was news this week that Canada’s household debt exceeded GDP and is the highest among the G7 countries - how alarmed should Canadians be?
During periods of instability, these numbers can be especially concerning. If unemployment goes up during an economic downturn, people may be unable to service their debts from the loss of income.
Impacting payments from housing mortgages to car payments, the cascading effect has people worried about the possibility of debt defaults.
Why is this happening and what can be done? Global’s Anne Gaviola speaks with Brett Chang from ‘The Peak Daily’ podcast to find out.
For more top business and tech news, visit The Peak Daily at readthepeak.com/shows/the-pea...
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Thank you Trudeau.
I'm not an economist, but rising interest rates, food prices sky rocketed, gas price gouging added to carbon taxes, is no wonder people can't handle the debt load. Stupid interview.
@1 AB Remember when the Liberals under Chretien and Martin were fiscally prudent and managed the nation's finances soundly?
What ever happened to those Liberals?
500,000 more immigrants please, daily
But this immigratants , new commers, working hard, and pay there fees and the rent, not like Europe, free monthly payment plus smal free apartments from the taxpayers.
@@edik.7235 Let's see some hard data on that. I am skeptical.
@@edik.7235 😂😂😂 majprity of illegals live on welfare, nice try jew
Does anyone not remember the 1970s? Back then anyone could finish school get a regular labour job and have their own apartment and a cheap car to boot, today you're an architect living in your parents basement, hopeless is not the word where it doesn't even matter who you vote for conservative or liberal we are truly doomed, this is the world we live in today.
Basically people are spending beyond their means.
Ah Canadian Real Estate ,where you can still launder money and not get caught .The whole world knows it..
Could be because a decent job should pay 4x minimum wage, but we've all effectively taken a 50% wage cut in last 2 decades and everything has increased in price 30% in last 3 years. We're fking dying here. Leaders used to go to the guillotine for less failure.
You can thank the government for that.
This isn’t about LGBTQ rights!!
Funny how Global sneaks Target AND Budlight in their 'conversation about Canadian Finances.
After months (years?) of talking about the housing crisis, I still don't grasp how the govt is solving it. Lots of speeches and announcements, but we are not seeing anything visible in the field. Meanwhile, we have more homeless people every month, in all the big cities.
Apparently a lot of people listened to our brilliant, brilliant Finance Minister when she told everybody what a good time it was to borrow because of low interest rates
Her and her boss( JT) should be in JAIL!!!!
Thing is .. there is good and bad debt. Borrow to invest not on living above ones means.
Who? T’s girlfriend??
@@harismuzaffar1151 maybe. doubtful though. Freeland is more of a mommy to him, replacing the one he never had, telling him what to do
@mikebowers7719 seen miss Freeland latest speech? Basically a communist manifesto
The only solution is to bring in more realtors and house flippers from other countries.
Thank Toronto and Quebec for this mess.According to Chrystia we’re number 1 in the G7.Just imagine how bad it is in the rest of the G6,I sure wouldn’t want to live anywhere else,knowing how good we are being taken care of here in Canada
Yes where is the WEF finance officer freekland?
You should visit a few places at random in the US. Tent cities under bridges, homeless people just lying on sidewalks, obviously mentally disturbed, the occasional burnt out car on the side of the road, bars on all the windows. Go to Paris, people just sitting in cafes drinking one tiny cup of coffee for three hours, sky high rents, apartments the size of closets. Yes, things are tough all over, and MUCH worse in many places.
@@punkinhoot I’m not an expert, just saying what I’ve seen with my own eyes. I didn’t see homeless people lying on the sidewalks in Paris. But I did see that the people are used to living in tiny apartments, so small that you eat and sleep and relax in the same room, beds fold up in walls, tables too. And everyone is not walking around looking rich and fashionable and wearing designer clothes like in the movies, not like that at all. In the US I’ve been to about ten different cities and the homeless problem was tragic in every one, far worse than I have seen in Toronto, Montreal, Quebec City, Ottawa, etc. On TH-cam everyone seems to think “the government” can wave a magic wand and solve everything, and that it’s their job to do that. It’s their job to try, but everything is not solvable, and we’re doing better than many.
Freeland is the WEF puppet; she is a LIAR, and she knows it….🤬🤬🤬
@@josephsmith594such a stupid comment. Yes, most of Africa has it worse so let’s keep voting liberal/ndp so we can turn our country into a African style dictatorship
A bit of a twist I keep hearing... Realtor companies tied with wealthy building owners/builders are in cahoots to force house sales to augment demand for apt/condo building(for home owners to move into) Nice trick eh!
Sounds like a conspiracy theory to me. Why would they have to be in cahoots? A realtor of course is going to want to make a sale, that is how they make their commission.
The home owners that are in trouble are the ones who bought when the interest rate was very low, decided to go with a variable mortgage because at the time it offered the best rate and never considered how much they would be paying when the rates went back up. Many didn't even get to benefit from those low rates and are not being too bothered by the slight increase now.
Calgary has turned into a beggars city. Looks so different vs 3 years ago with 3-5 people on the streets at each corner. It’s only going to get worse.
Oh you dont say theres been and uptick, hmmm i wonder why?
“It’s much easier to keep an eye on 5-6 things [banks] than it is 4000 things [banks].” Keep an eye 👁 . Big brother
Mortgage rate compared other develop nations is not that bad. We don't have rules regarding the salary and debt obligation calculation before purchasing a home. There are some real estate agents from the CBC news reports regarding falsify salary documents to purchase a home.
When you’re paying extra 1000 a month without increased in your wage, where will hard working Canadians get that extra every month? Working two jobs to make ends meet can take a lot on the family and yourself.
I did my taxes this year and I got a Bill for $7000 add that to my credit card and line of credit my mortgage my kids gas food it’s only adding up there is no break for Canadians it adds up faster then I can pay I’m literally working and the money I make is disappearing and my debt is climbing
I hear you first time in my life I jacked up credit cards just so I had enough money in my bank to my my mortgage
You need to earn more money I guess.
Well, Saul, you can take heart from the fact that our glorious leader Jagmeet Trudeau is living well, getting to fly around the world for free, staying at $6,000 a night hotel rooms, and eating from a $4,500 a month grocery budget.
@@primmakinsofis614 You sound like a real peasant. 😂
@@bobwoods1302 thanks tips
3:27 she say Bad'a Bing Bang ? (Bank) = Bada Bing Bang Boom Baby !!! Haha
It's not going to solve...as currently Canada biggest is buying and selling homes because lots of people coming and nothing is building... because of high cost of new things building
NAWWW it doesnt deserve 2 min, it doesnt deserve putting it on here. Global Woke.
Global suggests people get their news from other places than social media regarding Target and Budlight, yet doesnt discuss the issues. 😂😂
a measure of mineral mining context° attached to digital technologies ° allows stage one, of 3 ● big period
Cactus is 🌵 short travel °
Selling natural resources and investing in real estate are the only things running the economy. Check out Germany's economy, smaller country, way less resources and a more productive economy, its on par with Japan. Canada is a banana republic compared.
Immigration is the biggest Ponzi scheme they run
Borrowing money to buy a dwelling is a very good investment, since any appreciation in the value of any personally occupied property accumulates tax free.
Edit: in Canada.
Losing ur job u lose the income n debt becomes hard to control cause u cant pay. Why r the news not talking more about this so our young can learn more of these time of problem. How they going bring the cost of housing if real estate are making gigh paid
No default
I don't think so well I doubt it 😅
boc is to blame for housing debt and housing affordability
If your mean GDP to national debt not surprised , U.S. is there and other countries too . But can't personal debt makes no sense
I really enjoy how you deconstruct these headlines. It's a breath of fresh air so please keep doing this.
@south korea monster channel채널 bro why
what is the GDP
Globalists Depopulation Plan
@@888ssss 😂😂😂
Gross domestic product , basically the value of everything the country produces
@@cornflowertoile3026
I know what GDP is, I just want to know the current GDP of Canada 😒🤦
2.1 Trillions
I look forward to the collapse👌🏻
Far too happy go lucky to not feel suspicious...
Remove Justin Trudea otherwise this country will b destroyed Homeless Zombieland
It`s all ok ,Trudeau will consult with his consultants that have been running Canada for the last 8 years....maybe he can consult with them again on how he can retire !!
can't wait for that soft landing...
According to freeland everything is fine.
People will just have to ditch their car for a bike and eat out less and wear hand me downs and get their furniture from the street and all will be well.
They are addicted to debt. Let em enjoy it all
🎃 ° Finance Minister trick
Odd title.
It asks a question.
Too few are taking home too much.
Canada has "x" assets, represented by "x" dollars.
Stop being greedy and give it back, greedy persons numbered in the tens of thousands on the sunshine list.
Canadians can't afford to live in their own country. Alberta needs to separate.
Wow this turned into trans gender debate.
What a joke.
Regressive on social issues ha what biased coverage.
I hate Trudeau
NATSOC DEATH SQUADS ON THE WAY
Soon there will be stores and products for MAGA customers and stores and products for normal customers.
The left is far from normal. Very far
@@on2thenextthing yeah those fascists magas sure are “normal” 😂
Uh oh, sounds like Mark Green is suffering from TDS.
The autumn 🍂 🏰
🎃 it came cool calm silver'ish
Amen Jesus exhaust mining systems Co.
its not my debt, so not alarming.
Canada the best country in the world ❤❤❤
It's a woke dumpster fire
@@on2thenextthing only to raging conservatives
@Peter
It's more like ignorance from Liberal Party.
@@fkb247 How so? Conservatives raging every waking moment. Oops my electric toothbrush broke, blame the liberals. A little exaggerated? Perhaps, but not taking accountability for your own personal decisions like huge debt, very conservative, and regular Canadians are tired of hearing conservatives fear mongering and whining 24x7
Did you ever set foot outside of Canada? Canada performs pretty damn bad among Western nations on most metrics.
Lol Canadians said no subprime up here. Woke joke by trudeau. Derserve what you get😅
Poverty allieviation completed 10 yrs ago in China, now Modernization. GDP above 35%? PP increasing daily. Corporations are worker owned/shareholders, wages to productivity. Resources Nationilized, currency onto gold. Innovation in farming-healthcare
Infastructure amazing... CGTN The Point-Hub-Heat, Cyrus Janssen, iearlgrey in Moscow. RT International
CGTN and RT, stay propaganda. Go away.