Time to get some financial consulting from those who are not paid to sell us debt and risk. Listening to the banks/broker/dealers/auto sellers have dug undisciplined households a very deep hole. Debt weight will continue to hold back our economy, savings, and investment until it is paid down and written off over the coming years and months. In a heavily indebted world, Canada is leading the pack in terms of household debt to GDP. Nothing to be proud of here. This data is at the end of Q4 last year, debt has climbed further in 2017.
This post was published at FinancialSense on 11/29/2017.