RBC: Canadian Debt Bubble Imploding. Horrific Consequences Coming...

RBC: Canadian Debt Bubble Imploding. Horrific Consequences Coming... We take a look at the dwindling savings rate and credit card debt is exploding all whilst household debt to GDP is higher than in the US during the height of the financial crisis. This a really bad situation. We talk about how savings are running out as we are in a recession and credit card debt is exploding. We also discuss how people don't have the money to pay back all their purchases from the past decade of low-interest rates. We compare a house in Niagara Falls NY to a house in Niagara Falls Ontario to put things into perspective.
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