Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Canadians 'drowning in debt': 47% will borrow to cover costs, survey says

AltaGuy · 10-28-2019, 08:40 PM

We live in an era of cheap money. It trickles down into everybody's lives. Whoever pointed out their HELOC as the source of their money actually hit the nail on the head here.

Nearly every bit of debt in our economy eventually filters out into an amortized mortgage over as long a period of time as possible. Homeowners just roll their debts into their mortgage, and then fight to keep a minimum amount of equity in their property.

Interest rates are gonna eff us all one day is my prediction. With or without significant debt, one day we'll either need to go lower for economic stimulus or higher for inflation, and won't be able to. When that day happens, the world economy is going to have a time.

10-28-2019, 08:40 PM	#85
AltaGuy AltaGuy has a magnetic personality and exudes positive energy, which is infectious to those around him. He has an unparalleled ability to communicate with people, whether he is speaking to a room of three or an arena of 30,000. Join Date: Jun 2007 Location: At le pub... Exp:	We live in an era of cheap money. It trickles down into everybody's lives. Whoever pointed out their HELOC as the source of their money actually hit the nail on the head here. Nearly every bit of debt in our economy eventually filters out into an amortized mortgage over as long a period of time as possible. Homeowners just roll their debts into their mortgage, and then fight to keep a minimum amount of equity in their property. Interest rates are gonna eff us all one day is my prediction. With or without significant debt, one day we'll either need to go lower for economic stimulus or higher for inflation, and won't be able to. When that day happens, the world economy is going to have a time.