Neither Deleveraging nor Further Leveraging of Household Debt Works
Canadian household debt hits record high Okay, so Stats Can tells us today that Canadian household debt has reached a record high 152.98%, a level relative to income that surpasses…
household debt
A Simple Solution for the Deficit that Might Please Both Progressives and Neo-classical Economists
Given the record profits of and incentives paid out in Cdn banks recently, there is no credible argument that says they can’t afford a financial service transaction tax, and, as…
Jobs Waning, Debt Mounting, Wages Slipping: A Bleak Outlook
Here are some followup comments that supplement my last post. The emerging picture of the Canadian economy is bleak. Inscribed as every government in the Western world is in neoclassical…
Combined with Harper Regime’s Austerity Program, Continuous Deleveraging of Household Debt Could be a Serious Issue
House prices have been speculatively bid up to 29% over real value with all the low interest, easy credit banks have been only too willing to give us. They’re just…
William Watson on PSE
On Wednesday, William Watson wrote a comment piece in the Financial Post in which he was critical of Armine Yalnizyan’s recent essay on inequality that appeared the National Post. In…
Ontario Student Debt
Last week, the CCPA released a paper by David Macdonald and Erika Shaker entitled Under Pressure: The Impact of Rising Tuition Fees on Ontario Families. The paper does a good…
Is There a Student Debt Bubble?
A recent article in The Atlantic looks at student debt in the United States and suggests there may be a student debt bubble. Written by the authors of the recent…
Recession Ahead?
TD Economics yesterday released a rather gloomy report, putting the odds of a US recession at 40%, and arguing that that Canadian economy is more vulnerable to recession than it…
Is Capitalism Terminally Ill?
Today (June 15th) the Toronto Star broke news that the NDP was planning to drop the term “socialism” from its party’s platform. This was a mere formality of what had…
Reduce Student Debt to Reduce Household Debt
At this year’s Annual Conference of the Canadian Economics Association, Armine Yalnizyan gave a presentation entitled “Surviving the Recovery: The Distribution of Canadian Household Debt.” The panel was co-sponsored by…