Household Debt/Income
Marc Chandler | Apr 16, 2013 12:21AM ET
This noted , Canada's has the dubious honor of the not just being at the top of the chart, but also seemingly continuing to move in the wrong direction.
One of our interpretative points is that Bank of Canada Governor Carney is leaving Canada as the proverbial bloom is coming off the rose. The economy is under-performing. The positive terms of trade shock appears to be going in reverse. Excess are evident in the housing market and households. Finance Minister Flaherty had hoped to make a recommendation to the government of Carney's replacement by the end of the month, but this may be delayed until early May. Carney steps down in June and joins the Bank of England in July.
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