Canadians Saving More Money

[Rickson9]

"Risk-averse Canadian households are sitting on up to $1-trillion of cash and “near-cash” holdings..."

http://www.globeinvestor.com/servlet...a0928/GIStory/

[trent]

Originally Posted by Rickson9

"Risk-averse Canadian households are sitting on up to $1-trillion of cash and “near-cash” holdings..."

http://www.globeinvestor.com/servlet...a0928/GIStory/

Does the article mention how Canadians increased their debt levels with over 7% in the last year (source: CIBC Capital Markets report)?

[Rickson9]

Originally Posted by trent

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!

[trent]

Originally Posted by Rickson9

"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!

So you think that "Overall household debt also rose 3.4% in the first half of the year.", which is about 7% increase of debt levels per year is sustainable?

[Rickson9]

Originally Posted by trent

So you think that "Overall household debt also rose 3.4% in the first half of the year.", which is about 7% increase of debt levels per year is sustainable?

Apparently it is.