Published on Jul 5, 2012
Canadians used to be great savers. What happened? And where are we going? Bank of Canda Governor Mark Carney discusses the threat of decreasing personal savings and increasing debt, and closes the door on his political career... for now.


Deja vu, eh?

Debt crisis coming to Canada


Another lovely bubble
Deja vu, eh?

"We're being vigilant"

"We don't expect any problems."

"The problems in Europe will be contained and won't effect us."

"Home equity borrowing is a financial innovation."

"We're in a transition process (from earning a living to borrowing to have a living.)

"Blah, blah, blah, blah..."

Facts: Canadians aren't saving. Individuals, companies and governments are living on debt.

From YouTube:

Canadians used to be great savers. What happened? And where are we going? Bank of Canda Governor Mark Carney discusses the threat of decreasing personal savings and increasing debt, and closes the door on his political career... for now.

Canada's got a great economy, right?

It's one of the "shining lights" in an
otherwise dismal world financial
landscape.

OK, but what happens if (when) commodity
prices crash?

When interest rates go up?

When its home equity loan 'prosperity'
machine goes into reverse?

Uh-oh Canada.

Video:

Central banks Deja vu, eh?

Ken McCarthy
Real Econ TV