Thank you very much.
Welcome. It's good to see you again.
You say in the report that one of the biggest challenges we're facing in Canada is the level of household debt or personal debt, and these debt levels are unsustainably high, especially with the likelihood of interest rates eventually rising. With these record levels of household debt, and persistent borrowing in spite of the economic conditions, what are the real risks that Canadian households face, and what are the risks to the Canadian economy?