Go to Vietnam and you see condos that cost MORE than in the US/Canada. For the early parts of Canada’s history, the per person debt levels stayed quite low, reaching only $1,950 (2019 dollars) in 1913. The people that are lucky enough to have a full time job are now being worked like mules because companies can’t afford the cost of full time employees. A similar pattern followed during WWII, with per person debt rising from $7,149 in 1938 to $26,340 by 1945. Ah healthcare- Canada's Federal Debt today. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada) Central government debt (29 items: A. As long as there’s no China, America trade deal Canadian’s wealth is in free-fall mode. Of course there is a middle class with actually disposable income, but they are not the majority of the populace. Barrick is a top pick for me. They are not as friendly as you think. At the end of March, 2018 the total debt outstanding was $7.785 trillion. Canadian “net worth” is a mirage. With all due respects please provide a link or something proof Tony. Interest rates will jump, and Canada will do well ! It’s no better south of your border. While the debt has skyrocketed since the 1980’s, a concerted effort by the Chretien, Martin and early Harper governments brought the debt down during the late 1990’s and early 2000’s. Zur Ergänzung ist zudem die Nettostaatsschuldenquote (Verschuldung abzüglich Forderungen) verschiedener Länder angegeben. I guess it’s all is the data you select. LOL It is supported by MILITARY/geopolitical DOMINANCE, stupid. …Worse – for the first time in six years we’re spending more on the interest on debts than we are on paying those debts down. In Oz, over 50% of Interest Only loans can’t transition to Principal + Interest so these people became proper debt slaves as they will be paying interest to the banks for ever. The. Medical costs per capita are half that in the US. stock are both popular options. Murray Rothbard long ago commented that with no gold standard, all central banks have to raise and lower rates in unison so that there is no place for savers to hide when they inflate the global supply of credit. According to data from Statistics Canada, net debt (gross debt minus assets) as of March 2019 was approximately CAD$768 billion. Well if you are (or will be) in Medicare, you only have to worry about Part B premiums, Part D premiums (if you have stay only with Gov’t A & B) and Medigap (hopefully Plan F) Premiums. We’re independent and can’t be cancelled. After years of debt reduction, per person debt fell to $25,267 in 2007, the lowest it had been since 1984. Even if you did everything right and are free of debt, that is an unknown unpredictable expense. © 2020 USA TODAY, a division of Gannett Satellite Information Network, LLC. At most you may have to pay for prescriptions but that cost will be close to zero ($4 – $25 CAD per medication) if you have good supplementary insurance or qualify for lower cost drugs through provincial and federal plans. Growing the debt in the economy significantly faster than the economy itself grows seems to have developed into a way of life in Canada. We will all be thinking that way by the time the next crisis is over. Or, that my daughter and son-in-law can’t really afford their home. This includes C$1.45 trillion in mortgage debts (+3.3%), C$662 billion in consumer credit (+4.4%), and C$114 billion in non-mortgage loans (+5.6%).
The confluence of these factors could dent the Canadian dollar’s value. :-) (I’m 63 and have never had a medical bill and don’t anticipate one).
Cenovus, Seven Gen, Canfor, you name the commodity, and they have all had their shares collapse 70-90%. Russia has an insignificant economy smaller than Italy and Chinese economy looks more on the verge of collapse than about to take over the world. Copyright ©2020 The Post Millennial All Rights Reserved. Care to explain how the US has lost the currency battle to the Chinese and Russia? There are not enough high-wealth individuals and/or foreign investors to save all of the local/domestic speculators from the investment properties that need mortgages over the next 4 years. Big Business, Big Government, Big Media, one giant mafia stripmining the public.
The glut is in neighborhoods with condo towers, particularly where the construction boom has been.
The taxes for Canadian healthcare are the same as any US deductible so it’s a wash. Half the population in the US is covered by government plans, then most of the rest are covered at work, about 5% go without coverage. Credit cards still in stimulus wonderland.
Due to government imposing high costs on dairy. While the company could have sold the debt to a third party, Martinez said, "Ultimately, we felt it was a better decision for all parties, particularly our customer, to forgive the debt.". The 10Y will sink < 2Y. I’m sure there are some college towns in the mid-west, where a guy could still buy fixers and populate them with students and pay-off the loans on a 15yr fixed. I would like to know, because I’d like to enjoy the wealth of Canada. Canada did not have a financial crisis. The strength of its balance sheet and the size of its global operations make it an enhanced proxy for the price of gold. Auto/Cycle may only take 1-2 month late payment cycle before they are repo’d, I have known guys who sell the same auto/cycle over&over during the year take the 10% down and maybe sell the same machine 4x+, that’s where the money is, its a known-known that young ppl will default. A 24-year-old university student, she said: "It's kind of like I'm being rewarded for my irresponsibility.
Not everyone is a debt slave.
The upshot is that we now check the GoodRX website first and rarely bother with the Part D. We have to keep it (Part D)… but it’s primarily reserved for “use by force” (hospitals) situations. To focus on changes in the debt-to-GDP ratio would therefore penalize prime ministers who served during recessions and would benefit, by happenstance, prime ministers who served during periods of economic expansions. Better to go bankrupt than die in socialist hospital or not have any treatment for a year. Canada is now in a similar situation as the US was before the Financial Crisis, only household leverage is a lot worse. Excluding Prime Ministers who served during a world war or a major economic downturn, Justin Trudeau is projected to go down as the biggest debt accumulating Prime Minister Canada has ever seen. Maintaining Canada's Low-Debt Advantage.
"I'm honestly still so ... flabbergasted about it," he said. They don’t float for people to get hosed down the road, even for Hosers. That was the first thing I did – be debt free. So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you.
The strength of its balance sheet and the size of its global operations make it an enhanced proxy for the price of gold. You are right, it’s not about taxes. 2) In the US, rates from 3M to 30Y form two fat bodies, two cluster zones. ", Follow USA TODAY's Ryan Miller on Twitter @RyanW_Miller.
Go out, Americans, stimulate that economy. Newsflash: It “costs too much to live” EVERYWHERE. PPP GDP is dominated by the cost of living. Amazon stock prices need to go above $2K a share.
It’s coming. Sir Mackenzie Bowell and Sir John Abbott are the only other Prime Ministers to have increased the federal debt without facing an economic downturn or global conflict. The cost of the government’s various unemployment and COVID-19-related support programs could exceed $250 billion. I’m in ASIA and I can tell you that almost everybody that can get ‘easy money’ up front from the bank for a purchase does, and thus everybody has their debt ‘maxxed out’, the result is they never pay off this debt, and in ASIA they can go after the entire family, not just the debtor. Originally, customers were told to continue paying their debt, Reuters reported, but the company confirmed Friday to USA TODAY that the debt was now cancelled. It is likely packed with gasoline!
The NHS now comprises of armies of ants at different levels of capability and responsibility, all being centrally managed through a computerised communication system with gaps that one can drive a flock of busses through. Only 30Y is still slightly higher @ 1.698%. Technik 2019 Mittlerweile sind 3D-Drucker auch für den Hobbybastler erschwinglich und die einzelnen Modelle meist aus China durch sinkende Preise massenmarkttauglich.
The rest was taxes on the C$12. The first time I heard about how Canadian mortgages worked, I was appalled. All I know is that I’m 66, and owe 3 more house payments. From 1966, per person debt grew 225% from $11,387 to its all time high in 1995 of $37,054. Wall St. Very few take out variable rate mortgages because they’re too stupid and don’t realize interest rates will take a large drop between now and around May 2020 when they start to increase again. Please read the Privacy Statement and Terms of Service for more information. The ratio shows how large debt is relative to disposable income. 2A–The Canadian economy is a resource based export economy grafted at the hip to the Elephant to the south. "Chase made the decision to exit the Canadian credit card market. Government Debt to GDP in Canada averaged 78.23 percent from 1980 until 2018, reaching an all time high of 100.20 percent in 1996 and a record low of 44.90 percent in 1980. The only thing propping up the Canadian housing market was the Chinaman. People that I know here are doing just fine. Mortgages in Canada are mostly variable-rate or adjustable-rate, and as such have far lower interest rates than other consumer loans, with credit-card debt counting among the most expensive debt. @Brant Lee. I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls.