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Old 10-08-2009, 07:28 PM
Rickson9 Rickson9 is offline
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Join Date: Sep 2009
Location: Mississauga, Ontario
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Quote:
Originally Posted by trent View Post
Does the article mention how Canadians increased their debt levels with over 7% in the last year (source: CIBC Capital Markets report)?
"Overall household debt also rose 3.4% in the first half of the year."

"Also, the bad debt rate in credit cards has jumped ... to 1.2%. While consumer credit ... the number of consumer loans in major arrears has also risen to 1.7%."

"Debt interest payments as a share of disposable income is also at a low since 2006 of 7.7%. In the 1991 recession, this ratio was more than 10%."

- CIBC Capital Markets Report

OMG that's horrible! 3.4% increase in debt? Huge! Bad credit card debt catapaulting to 1.2% and consumer loans in major arrears hit 1.7% Massive!

Those numbers ARE crazy!
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