The reason for this is the concern that, like in the United States before the last recession, excessive household debt levels pose a greater risk to the economy than do higher interest rates. Canadian’s are knee deep in debt , with Statistics Canada reporting that the most recent household debt-to-income ratio reached 163.4% in the second.
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Yet, the same pundits point to record consumer debt levels and claim conditions are the same as just prior to the Great.
Meanwhile, a smattering of upbeat economic data is set against a dour backdrop, which now includes a toxic political cocktail.
The subprime mortgage crisis combined with credit card debt restrictions curtailed debt as a source of funds. High unemployment cut back on wages. Many people have never caught up. As a result, consumer spending may not recover to pre-recession levels.
. and businesses are still well below great recession levels, analysts. “We are seeing people using consumer debt as a way to make ends.
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That said, up until now, the cost of the staggering increases in notional consumer debt outstanding has been offset by lower interest rates. As a result, historically low rates have have kept the ratio of household debt service to disposable income levels near multi-decade lows. But rising rates could change all this in the very near future.
Economic and market uncertainty is at very high levels, with economic. isn’t the same for one with very stable and.
A new report shows student loans outpacing other household debt among. That trend though is not entirely shocking, said Colleen Campbell, director. a loan — those markets have tightened since the Great Recession.. there is no industry- wide framework at the federal level to regulate student loans.
Consumer debt was approaching $14-trillion in the third quarter of 2018, lowered interest rates in 2008 to fight the recession – giving consumers more incentive to. education – although the rise of student-loan debt has been staggering.
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But not everyone is in recession-fear mode. They cite the low unemployment rate in Florida and nationwide, continued GDP.
France’s staggering debt levels are far more worrying than ours Francois Hollande’s French administration has struggled to cope with a sluggish economy and uncertainty in the eurozone