Impact of Consumer Credit On Economy by GURCHARAN https://padlet.com/gurcharan/1rk6b0atg95q by Gurcharan (100727429) en-us 2019-11-22 15:31:18 UTC 2019-11-24 13:06:04 UTC hello@padlet.com https://padlet.net/icons/png/1f60a.png WELCOME TO MY WALL gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415326756 Here you will come to know about impact of consumer credit on the economy with the help of websites, videos and images.
Consumers nowadays are availing credits for many purposes like household, businesses, personal loans etc. Even in our country, it act as a big issue as well. Through all my work here, you will be able to understand that how economic growth is related to the credit.]]> 2019-11-22 15:45:39 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415326756 Website #1 Bank Of Canada: Credit and its impact on economy gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415328308 This website expresses the data about the credit conditions being provided by the Bank Of Canada. In this, there are different types of credit like: household, businesses and monetary aggregates.
Bank Of Canada provides data regarding these credits in the form of  monthly financial statements. Bank monitors the regulation in the country such as :
  •  Changes in credit conditions
  •  The money supply in the country.
  • Financial system liquidity 
  •  Other money market instruments traded in the market.
  • The credit conditions reflected by the monetary policy as well as financial conditions express changes in the economy itself.
]]> 2019-11-22 15:47:41 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415328308 Website #2 Banks contributing the economy gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415338226 This website expresses how the banks are leading towards the Canadian Economy.
If we talk about the credit facilities, these banks benefiting the Canadians in many ways like:
  •  Loan for purchasing houses.
  • Providing employment to millions of Canadians.
  • Saving for the retirement.
  • Providing dividend incomes.
  • By the taxes paid by the banks indirectly people are benefited.
  •  Providing loans for establishing small businesses. etc.
These banks majorly provide loans to small and medium enterprises. 
This would lead to economic growth of the country today as well in years to come. Sound banks facilitate major role in this.
]]> 2019-11-22 16:00:57 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415338226 Website #3 Impact Of Credit Rule Demographically gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415352165 This website expresses the impact of the credit rules as per demographics of the Canadian consumer on their credit requirements.
It provides recent data of the year 2019 of increase in credit balance as per the previous years'.
Due to sound Canadian credit market, there is significant as well as balanced growth across various regions. In this, population has been divided into 5 different groups on the basis of their year of birth. Data regarding their share in total credit as well as its impact on the economy is being provided. this depicts rise in debt of all the groups.
 Due to increase in overall debt, in future there would be an expected downturn in the Canadian economy.]]> 2019-11-22 16:20:53 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415352165 Image #1 Relation between credit and economy gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415377939 In this image, comparison of credit to GDP ratio is being done in five countries.
 If we talk about our economy, its average credits are not leading towards financial crises, but measures should be taken to curb the situation for bright future of the economy. While on other hand, China is also in danger of financial crises.]]> 2019-11-22 16:56:13 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415377939 Video #1 Correlation between bond market and economy gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415381233 This video expresses that how the bond market is related directly or indirectly with the growth of economy.
 This video makes attention towards the rising interest rates in the bond markets, that led to fixation of the mortgage rates. But, unfortunately, due to rise in interest rates, on one hand, the bond market is shrinking. 
Due to declining bond market, there is a strong adverse impact on the economy. The Canadian economy suffers a lot.
 On other hand, Yield is also slowing down continuously, which is again a bad indicator for the economy.
The bond market is thus, influencing the economic parameters of the country and hinders its economic growth.]]> 2019-11-22 17:01:06 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415381233 Video #2 Canada at risk of banking crisis.. gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415385734 The video is about the financial crises that Canadian economy is going to suffer.
It emphasizes that no doubt debt is good to some extent in the country. But, too much debt in the economy is an alarming signal for the country. It also talks about economy of Hongkong and China.
It is said that no doubt, if money is borrowed by the people for the purpose of channelizing it to some productive purposes, it is a good indicator. but, this way, Debt to GDP ratio is very high, this is a challenging issue which should be taken care of as soon as possible by the Canadian Government. no doubt, measures are being taken already for this, hopefully it would be eradicated.]]> 2019-11-22 17:07:52 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415385734 Video #3 Global Slowdown: Economic Growth gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415391616 This video expresses that due to global financial crises, even U.S. is being effected. In the same way, the Canadian economy growth has been slowed down. 
The impact of global slowdown also affects negatively the country.
But Bank of Canada taking actions to cope up this. No doubt GDP is still 2%, consumer's higher interest rates lead affordability crises. The economy depends upon a lot of activities despite of this, global weakness recession , oil prices etc.
If all the global central banks join hands it would be curbed.
Banks are also doing well byclosely monitoring the economy by reviewing the monetary policies. ]]> 2019-11-22 17:17:09 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415391616 Website#4 New Credit Card Rules In Quebec: Its Impact.. gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415658596 The website is about new credit card rules in Quebec of Canada, so as to tackle the rising threat level of household debts.
The minimum payment to be maintained is raised from 2% to 5%. In Canada, people are free to act on their own. There are no federal laws as such. But, this is a warning for the economy because the household debt to income ratio is expected to be doubled in the years to come, which would be a danger for the country.
The new rules framed for the credit cards would be able to curb the economy from this danger.]]> 2019-11-23 15:01:34 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415658596 Image #2 Canada leading in household debt gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415671966 The image expresses a clear cut view regarding Canada acting as a leading economy in household debt all over the world.
In the year 2016,the household credit to GDP ratio is 107% , that depicts a warning signal for the economy. 
Efforts are being made by the Banks as well as the Government to curb this situation for overall economic development of the country.]]> 2019-11-23 16:15:02 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415671966 Video #4 Canadians Going To Broke Due To High Interest Rates.. gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415674419 This video expresses the impact of high interest rates on the Canadians.
It is found that the bankrupt activities and insolvencies were rising in the past year.
 The Bank Of Canada states that measures are being taken to help the economy from rise in oil prices as well.
Later on, Central bank states that interest rates would be raised till the economy got neutral. That's why this year, in most populated provinces like Ontario etc. it is expected to get hiked interest rates. 
As a result of this, there would be more insolvencies in the populated provinces of the country this year.]]> 2019-11-23 16:29:53 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415674419 #1 Learning while this research work gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415791412 While going for research of this topic, I watched a lot of videos, search various websites to gather data on Impact of credit on Canada. What is found most surprising is that the Canadian economy is in threat of debt risk. As being an international student, I was not very much aware of this fact. But, now i would like to contribute by managing my debts at least. ]]> 2019-11-24 09:15:05 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415791412 #2 Facts to share.. gurcharan https://padlet.com/gurcharan/1rk6b0atg95q/wish/415791893 As i being a student, after going through the condition of the economy, I would act as a civilised person by managing my credits well by maintaining the minimum balance as per the governing rules.
To suggest about this to my friends and peers, I would make my peers also aware of this. I would tell them about the global crises as well as tell about the impact of increasing debt to GDP so as to join hands to curb the situation. We can't contribute much, but at least one can make efforts for the same.]]> 2019-11-24 09:20:06 UTC https://padlet.com/gurcharan/1rk6b0atg95q/wish/415791893