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 https://readthepeak.com/shows/the-peak-daily
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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.
Lol Canadians said no subprime up here. Woke joke by trudeau. Derserve what you get😅
No default
NAWWW it doesnt deserve 2 min, it doesnt deserve putting it on here. Global Woke.
You will own nothing and be happy. Thanks Liberals.
500,000 more immigrants please, daily
You halfwits don't get it. The alphabet people targeting children with merchandise in order to influence prebescent children to transition among other things is disgusting and Target should be ashamed of themselves.
All the Sasquatches living in the forests and mountains of BC don't have to worry about GDP because they get everything for free by foraging, also they are protected by the government that refuses to admit they even exist = a good life for them !
I look forward to the collapse👌🏻
Regressive on social issues ha what biased coverage.
But not a peep about the size of the federal government's debt.
Global "News", devoted to protecting the Liberal-NDP government.
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!
It’s a morally bankrupt system and it will collapse and it should collapse. I am not going to shed any tears over it.
I don’t care about banks’ earnings. Banks should be nationalized. Right now they are unnecessarily middle man.
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
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
Basically people are spending beyond their means.
Where is our and The WEFs finance minister ???
She says everything is going good in Canada
I hope no one is LYING !
Can we really trust someone who's grandfather worked on a NAZI newspaper ?….and changed her name to sound more Ukrainian ?
Sunny Ways! Gagmeet & I "Got your back"
Canadians can't afford to live in their own country. Alberta needs to separate.
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
Far too happy go lucky to not feel suspicious…
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.
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.
This isn’t about LGBTQ rights!!
there is a certain irony to being debt free as i don't earn enough money to get the kind of credit that would get me in trouble making payments. i don't have medical either. my prescrip costs doubled this month, and somehow every time i forget to breath i must pay another $200. i can only expect interior health will try to claim i am non resident again.
>I Will advice traders especially newbies to have orientation of trading before they get involved in it because the Crypto market has been unstable, forget predictions and start making a good profit now because future valuations are all speculations and guesses. when news gets bearish start buying. "Keep it simple" That correction was the best thing that happened me. but all thanks to Mr K <for his amazing skills for help me to earn 11 BTC through trading chart..
Zero alarms because canadians don't understand this either.
Keep voting for a clown canada, it's going so well.
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.
Global suggests people get their news from other places than social media regarding Target and Budlight, yet doesnt discuss the issues. 😂😂
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
“It’s much easier to keep an eye on 5-6 things [banks] than it is 4000 things [banks].” Keep an eye 👁 . Big brother
<Amazing❤️🙌Being able to provide all my needs without the help of the Government is really a dream come through and I’m getting $50,000 returns from my 10k investment, Glory to the everlasting God almighty.
3:27 she say Bad'a Bing Bang ? (Bank) = Bada Bing Bang Boom Baby !!! Haha
Ah Canadian Real Estate ,where you can still launder money and not get caught .The whole world knows it..
The WEALTHY BUILDERS & REAL ESTATE COMPANIES
want the Governments to tax The Old Ladies out of their homes
so they can make huge profits flipping their homes on the market .
CANADAS GOVERNMENTS WORK FOR THE BANKS NOT THE PEOPLE
Warren buffet is holding nothing but cash in a nut shell.
NATSOC DEATH SQUADS ON THE WAY
According to freeland everything is fine.
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.
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.