Canadian private businesses, that would roughly account for 50% of the economy, might have expanded on grossly negligent government fueled “boom” hyperbole. It’s a clear-eyed explanation for the phenomenon of astronomical household debt in Canada, that at once touches a select few directly (owners) and has a broader deepening mood on perceived prosperity (workers).
Just as real journalism is reporting, “@SBarlow_ROB DBRS: “Between 1990 and 2017 year-end, household liabilities (including mortgages, consumer credit, bank loans and trade receivables accounts) increased by 506%, while personal disposable income (PDI) grew by 208%.” Meaning, a household is in debt 5x it’s value whilst has only doubled in value over the same time.
Real real-estate is more like this headline, helpful site Nearly Half Of Toronto Condo Investors Have Negative Cash Flow, And Canadian Prices Are Making Recession Like Moves
For want of this information, I thought Canadians had all gone to the dark-side. Employer goes public irate at employees from the “leisure-class”. Not dissimilar, AGO apologizes for racist costumes at performance during fundraiser (the apology is racist).
Meanwhile, among big corporations, Enbridge Inc (a natural gas supplier to homes) reveals “the company is saddled with about $61-billion in debt, a burden that has stoked concern as interest rates edge up.“ It’s the ‘Ma Bell’ of consumer energy.
Something is wrong and seldom do normal lives set off alarm bells like these individuals of the Canadian macro economic system: Among Canada’s worse blue-chip con-artists that fooled bank CEOs and VPs languish in New Jersey for 20 years hoping deportation will lead to parole. And, A year and a half ago, the U.S. government officials accused Marie Boivin and 11 others, along with 24 organizations, of participating in a global fraud. Last August, all were removed from the U.S. Treasury Department’s sanctions list. I should also affix the Cambridge Analytica-Facebook-Yahoo scraping-hacking incidents.