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By -Hammer- (registered) | Posted October 29, 2012 at 19:31:29 in reply to Comment 82400
I wouldn't be too concerned with the rate going up at this point as far as it's effects on the economy. I think it's pretty safe to say, with how long this rate has been so low, that any economic benefit that the low cost of lending could make, has pretty much been realized at this point.
However the effects of the rate effecting existing debt levels I would be concerned about, although I would resolve them through tax increases and freezing existing spending (no cutting though and still adjusting wages for inflation/cost of living). Sadly tax increases are typically the cyanide pill of a government, which I wish wasn't the case. As far personal debt, well I'd like to think we have strong enough regulations to prevent a lot of this from causing an issue. However apparently bad debt is going down amongst Canadians now.
Comment edited by -Hammer- on 2012-10-29 19:43:33
Still waiting for the Randle Reef mess to get cleaned up, but hopefully not much longer!
http://www.cbc.ca/hamilton/news/story/2012/12/18/hamilton-randle-reef-announcement.html
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