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April 15, 2019 | Canadian Households at Point of Hard Return

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

At 1.1%, the Canadian savings rate is today near all-time lows, while Canadian debt is at all-time highs, and unemployment is set to move higher. Years of reckless financial policies have driven Canada to the point of hard return.  This one is gonna hurt.

As observed by Canadian consumer credit expert Scott Terrio this morning:

No savings. Nothing to absorb any kind of financial shock – job loss, reduced hours, separation/divorce, illness, selloviction/renoviction, etc. It’s been my theory for while now from what I see every day at work – there is a whole segment of people living on the financial edge.

 

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April 15th, 2019

Posted In: Juggling Dynamite

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