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Communism is coming to Canada along with full fledged social credit. You will owe nothing and be happy
>Canada Beyond 150’s Capital and Debt research team explored the future of ownership. The team looked at how accessing services, rather than conventional ownership, could benefit all Canadians. Its proposed policy recommendations include measures that could drive the development of new types of assets, and potentially lead Canadians to participate in the access economy.
>Many Canadians are now deeply in debt. In 2017, the average Canadian household had a debt-to-income ratio of 167.8%, with 7.9% of them at 350% or greater1. This higher debt seems to be connected to the decline in labour’s share of national productivity. Wages have not gone up as quickly as the cost of housing, food, education and care. At the expense of their savings, Canadians service mortgage debt, car loans, credit cards, and lines of credits as sources of debt. Nearly 50% of Canadian households live paycheck to paycheck, and are more likely to fall into arrears from unexpected costs or sudden income disruption.
>Governments, agencies, and non-government organizations offer support and programs to help Canadians manage debt and plan for their financial well-being. These include information provided by the Financial Consumer Agency of Canada on financial literacy to the Canada Pension Plan, and Learning Bond to support retirement and post-secondary education.
>These supports offer help for Canadians to overcome challenges and achieve prosperity. Yet Canadians form fewer assets, and have higher debt levels since the post-2008 financial crisis. Future businesses and households, retraining and reproduction are all needed for economic growth, but respond negatively to high debt levels.
