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The New Normal? Economic Prespective from one of Canada’s Top Economists

By Alberta Foreclosure Info

The New Normal? Economic Prespective from one of Canada’s Top Economists

I was fortunate enough to catch Benjamin Tal’s presentation in Calgary recently, presented by our friends at FirstLine Mortgage, as he discussed what he calls ‘The New Normal’.  For those of you unfamiliar with Benjamin Tal, he is the Deputy Chief Economist for CIBC  World Markets.  As usual, Ben delivered an engaging and entertaining discussion about world events and their direct impact on the national and local economies. It really is quite remarkable how Ben can make economics seem like so much fun!

As a mortgage associate with Verico MyMortgage.ca, I am particularly interested in Ben’s forecasts of upcoming bond markets and Bank of Canada decisions, as well as his prognosis of the real estate market. He always delivers a terrific amount of information and value every time he speaks.

Although he discussed several issues ranging from oil price shocks, the deleveraging US consumer, pending Fed and Bank of Canada decisions and the booming (?) US manufacturing sector, the most important message he left us with was the impact of a rogue fundamental economic indicator, the ‘Velocity of Money’.

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Filed Under: Uncategorized

Credit Counselling Caution

By Alberta Foreclosure Info

Credit Counselling Caution

 

Credit Counselling

Even a passive observer knows that consumer debt levels in Canada have reached record highs. StatsCan recently reported the ratio of household debt to disposable income to be 1.48, exceeding US household debt levels for the first time in over 12 years. If this disturbs you, it should.

Personal bankruptcies and property foreclosures are a common artifact of recessions. Reported bankruptcies and foreclosures have been on the rise since the recession took hold in Canada, and more people are turning to debt solution companies to help them solve their debt woes. In Canada, someone wishing debt relief can declare ‘bankruptcy’ or obtain a ‘consumer proposal’. In either case, you need a trustee to accomplish this.
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Filed Under: Alberta Foreclosure, Foreclosure Advice, Mortgage Problems, Uncategorized Tagged With: Alberta foreclosure process, bankruptcy, credit counseling, credit counselling, debt, debt consolidation, debt management, mortgage problems

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