Danielle was a guest today with Phil Mackesy on Talk Digial Network discussing recent trends in the world economy and markets. You can listen to an audio clip here.
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Danielle was a guest today with Phil Mackesy on Talk Digial Network discussing recent trends in the world economy and markets. You can listen to an audio clip here.
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I haven’t heard any discussion by the economists or politicians about the tidal wave of debt that is engulfing Canada.
The following information is from a Statistics Canada credit market summary data table as of the end of June 2012: (The debt statistics for Canada up to the end of September 2012 will be released next week by Statistics Canada).
Total debt in Canada as of the end of June 2012 (bottom line of the data table) was 5.1 Trillion $
From the end of June 2011 to the end of June 2012 the total debt in Canada increased by 209 Billion $.
For that 12 month period the total debt in Canada increased at a rate of 572 Million $ per day.
I would have to agree with Karl Denninger when he said (a few years ago) “You cannot expand credit at a rate faster than GDP forever without suffering a financial panic and collapse”.
http://www5.statcan.gc.ca/cansim/pick-choisir?lang=eng&p2=33&id=3780122
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