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Find the best credit cards without impacting your score May 24th
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The best 5-year variable mortgage rates in Canada + MORE May 1st
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The best high-interest savings accounts in Canada for 2025 + MORE Aug 25th
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Planswell Review: Free Financial Planning for Canadians Jul 22nd
These are exciting times to be a Canadian investor. In just a few years, advances in FinTech and AI have given Canadians at all income levels access to an array of financial products and services that are both convenient and affordable. It’s no wonder that traffic walking into the big banks is slo.... More »
Flooded-out rivers continue to threaten New Brunswick - CP24 Toronto's Breaking News + MORE Apr 29th
CP24 Toronto's Breaking NewsFlooded-out rivers continue to threaten New BrunswickCP24 Toronto's Breaking NewsFREDERICTON - As flood waters in Fredericton began to show some signs of relief Sunday, the owner of a popular craft brewery on the banks of the Saint John River was anxious to assess damage .... More »
(iStock)Scribes of my generation were programmed to keep numbers out of the first sentence of works of journalism. Now that we are in the second sentence, I can relay the Institute of International Finance’s latest tally of global debt: $291 trillion at current exchange rates. That’s the most ever, according to the IIF, the Washington-based lobby for big global banks and insurers.
What does one do with a number like that? Another contrivance of journalism is to convert big numbers into something concrete. So let’s see if that helps: the world’s governments, companies and households are on the hook for 18 million tonnes of loonies, which would be roughly equivalent to the weight of the 9.4 million cars and light trucks sold in Canada between 2013 and 2017. In other words, $291 trillion is a load.
But it doesn’t feel all that heavy, does it? Interest rates are low and global economic growth suddenly is pretty good. Last year was the best one for the global economy since before the Great Recession, and 2018 could be even better…
