Description: With interest rates so low for so long, consumers in Canada have been loading up on debt. Debt to disposable income rates in Canada hit close to 165% this year, indicating consumers are adding to their debt loads faster than incomes are rising. At least part of the problem can be attributed to a failure of the economy to add well-paying jobs for the younger generation of workers.
Date: September 16, 2015; updated September 17, 2015
1) As a student, how do you relate to the observations on rising personal debt made in the article?
2) What do you see as some challenges for the Canadian economy based on these high debt levels?
3) What type of business opportunities might there be for accountants assisting Canadians in dealing with their personal debt levels?