Mr. Speaker, the Financial Post today has a headline: “Bank for International Settlements says Canada is showing early warning signs of financial crisis”. The article goes on to say that:
In its fall report, the BIS indicated that Canada had one of the highest credit-to-GDP ratios among developed nations. That report said the country’s “unusually” elevated level posed a threat to the country’s banking system.
Our country has the highest level of household debt to income in the OECD. When will the government realize that Canadians have too much debt of their own and they cannot afford the government?