PERFECT STORM OF DEBT
Consumers are experiencing a perfect storm with silly repayment terms, untenable interest rates and rife consumer exploitation all compounded with diminishing job opporunities and incomes.
Incomes have been in decline for four decades symbiotically taxes for the poor and middle classes have increased by almost 100%.
During this same time period corporate taxes have decrease to about 20% of what they formerly were.
Jobs have been leaving the country for cheaper labour markets at a wholesale rate.
Measures of poverty and unemployment are routinely manipulated by exclusion.
More people have been buying houses than ever before with smaller downpayments than ever before – this activity has been driving up the price of real property driven by the lowest interest rates in history.
Canadians owe more debt per capita than anyone else.