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Brain -> Debt danger (12/15/2010 1:05:26 AM)
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I am not sure if this is good or bad. On the bright side, maybe with a bad economy/recession we can finally be free of this Regressive Conservative government. They are not Progressive Conservatives they are Regressive Conservatives. Progressive Conservative is a misnomer. There is no such thing, it is like a compassionate conservative or compassionate conservatism - just look at Jan Brewer the governor of Arizona who spends $50 million on prisons but can't spend $5 million for people who need life-saving transplants. Lucky that the Regressive Conservatives do not have a majority government or they will be destroying the universal healthcare in Canada right now.
Debt danger
Canada has now crossed a rather risky threshold. Our ratio of household debt versus disposable income has now reached record levels -- 148.1 per cent.
That's frightening enough now, but this next statistic should provide a shudder. Canada's figure is higher than the level in the United States right now -- 147.2 per cent.
We all remember how unmanageable debt worked in the U.S. Shakey mortgages, resold as derivatives, collapsed as homeowners were unable to pay their bills. That coincided with an astronomical rise in the price of gas that pushed maxed-out homeowners over the line. They weren't able to pay their mortgages. They lost their homes, derivatives fell apart and the world got its Debt Crisis of 2007-'08 and the subsequent Great Recession.
http://www.ottawacitizen.com/business/Debt+danger/3978888/story.html
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