Canadians Have the MOST DEBT In the World! Middle Class Will Face MASS BANKRUPTCY!

I see this every day. In Toronto there is a major euphoria about real estate. It will never go down! Just a little bump in the road. Have no fear!
Do you believe that interest rates will rise, even a bit more? If so, will that have an impact on the economy?

 
In all of Canadian history, there has never been this much debt. Canada is drowning in massive levels of debt. Most individuals have financed their lifestyle with incredible levels of debt as they consume more and more. Big mistake. With rising interest rates becoming more apparent in Canada and the U.S, there will be no stopping the destructive effect that we will witness.
 
Canadians owe $1.67 for every dollar of disposable income: Statistics Canada – National | Globalnews.ca
globalnews.ca/news/3126229/canadians-debt-to-income-ratio-creeps-higher-statistics-canada/
Congrats, Canadians: You’re world leaders in debt – Macleans.ca
www.macleans.ca/economy/congrats-canadians-youre-world-leaders-in-debt/
OECD Warns on Rising Debt Risk as Canadians Most in the Red – Bloomberg
www.bloomberg.com/news/articles/2017-11-23/oecd-warns-on-rising-debt-risk-as-canadians-most-in-the-red
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Household accounts – Household debt – OECD Data
data.oecd.org/hha/household-debt.htm
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Canadian households ‘nowhere near prepared’ for higher rates, survey finds – Article – BNN
www.bnn.ca/canadian-households-nowhere-near-prepared-for-higher-rates-survey-finds-1.892780#_gus&_gucid=&_gup=twitter&_gsc=eFVtpMm
Canada lost 88,000 jobs in January. Here’s why you shouldn’t read too much into it | Financial Post
business.financialpost.com/news/economy/canada-lost-88000-jobs-in-january-heres-why-you-shouldnt-read-too-much-into-it
Canada’s mortgage debt has reached the levels in the US before the financial crisis — Quartz
qz.com/938570/canadas-mortgage-debt-has-reached-the-levels-in-the-us-before-the-financial-crisis/
Consolidated Canadian Government Finance Statistics, 2016
www.statcan.gc.ca/daily-quotidien/171122/dq171122a-eng.pdf
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