JDMCQ's Garage

Poor droo, replaced already

 

you hussy

 

Lulz

 

Is this what you were hoping for?

 

operation shiny taco complete.

 

Shiny taco.....

 

Burg has CWB.

 

That plane crash looks bad... Watching CNN coverage now.

 

Hey Brandan...in that link there was also a story about Canadians piling on debt due to low interest rates. Had to do with 151% average debt ratio which is approaching the 160% debt ratio in the US prior to the crash in 2008. Seemed to be focused on people buying more home than they can afford if rates go up. Hard to believe people keep building debt after the disaesterous effect it had in the US. It just caught my eye....

 

They are keeping the national interest rate low so that people will keep the economy rolling but it also means people are borrowing more at that low rate for anything they want. It's a catch 22 for us. Either raise the interest and reduce spending across the map or try and get the public to use it for what the low rate is meant for (paying down their debt).

The housing market is retarded in the urban centres, house prices are way too high for what they are worth but there is the demand for it so people just keep borrowing more to get it.

I do know that banks are limiting/making it difficult for people to get money for mortgages and such to curb the over spending. But obviously people are using more credit cards and lines of credit for spending. It's affecting the construction industry around here since people can't get the money they want.

Either way, it gets a lil confusing and seems like there is no good answer right now

 

Yeah, I agree it gets confusing... At least your explanation matches what I had in my head from reading the article. I guess we're still a ways from coming out of this mess. Seems to be "damned if you do damned if you don't". Worrisome stuff... Thanks man.

 

That's pretty much what it is. Either you keep the rate low and people spend more or you jack it up and people start to lose their houses. Too much to think aboot lol