Tuesday, January 17, 2012

Bank of Canada keeps punishing savers...

Stays pat at 1%.


Do you get the idea that the B of C doesn't really know what to expect. Uncharted waters. Not sure what's coming. So call it both ways and then stick it to savers again.

Then we have a TD Bank spokeswoman saying that lower mortgage rates are NOT an invitation to borrow more. Huh? Well it's in your hands lady. Tighten requirements as you lower rates and the net result will be a less money borrowed by less extended borrowers.

BUT you want consumers to exercise restraint even while the banks have become debt-pushers, with subliminal ads that equity must be withdrawn and spent with stupid statements saying that we 'are richer than we think' (that will come back to haunt them) even while stats show the highest debt burden on consumers ever, completely unrelated to their measly income growth.

4 comments:

  1. The bank expects household debt growth to remain positive. Will the government step in and ensure it doesn't?

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  2. Whistler has really dried up. At the rate of sales this year, we are looking at well over one and a half years of inventory.

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  3. Last year we went to an open house in Vancouver and the realtor was from Whistler. He told me sales had totally dried up so he had to move to the Lower Mainland for work. I asked him why were things going south in Whistler and what about the Olympic bump. He excitedly explained to me that the Olympic bump was coming, that it naturally took about 5 years for it to hit every other Olympic city and that was normal because it takes a while for the whole world to get over to Whistler to see how much they want to buy a place there. What a numbskull. Makes you wonder if they get taught this crap at the office or just dream it up themselves with their deficient intellect.

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