Understanding Financial Crises by Mark Hill & Tristan Adams by Mark Hill https://padlet.com/m_hill4/bna02c5bjx8m You will learn causes, consequences, responsibilities and explanations on financial crises. en-us 2018-11-23 01:23:17 UTC 2025-11-07 16:00:16 UTC hello@padlet.com Picture #1 - Taken from Google Images m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/307147450 According to the Bank of Canada, Canada is at a high risk of suffering from a financial crisis because of ultra-low interest rates on credit cards, homes, purchases and other debt. ]]> 2018-11-23 01:51:54 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/307147450 Picture #2 - Taken from Google Images m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/307151967 Three reasons can be mentioned in regards to the sales of homes in the specific month of May. These reasons are a trade war with the United States, foreign buyers being controlled by their own countries by forcing them to buy local and general rising house costs.]]> 2018-11-23 02:36:00 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/307151967 Picture #3 - Taken from Google Images m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/307152844 The meaning behind this picture shows that Canadian's are spending more than they are making. Each year, Canadian's are going further and further into debt. Canadians are wanting more and more, and newer and newer, resulting in a steady rise of total Canadian debt.  ]]> 2018-11-23 02:44:10 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/307152844 Website #1 - The Canadian Encyclopedia m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/307154672 https://www.thecanadianencyclopedia.ca/en/article/recession 

This website explains different reasons, aspects and forms of a financial crisis. The first part is how different Canadian industries can be affected differently by variables that occur within their specific industry. A financial crisis can be caused by declines in production, trade agreements with other countries worldwide, the personal income of working Canadians, a rise or fall of the stock market, Canadians not spending enough at Canadian retailers and finally unemployment rates. 

We found this website was overall helpful because it explains many aspects of a financial crisis. From determining factors, history of recessions, responses from businesses and the difference between a recession and a depression. ]]> 2018-11-23 02:59:00 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/307154672 Website #2 - Business Insider m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/308423577 https://www.businessinsider.com/canada-is-flashing-several-warning-signs-of-a-pending-financial-crisis-2018-3

This website shows a graph on warning indicators for countries that are at a risk of a financial crisis. At the time of this graph, Canada was the only country with warning signs in all 4 categories that determine the likelihood of a financial crisis. The 4 categories are: Credit-to-GDP gap, Debt Service Ratio (DSR), Household DSR and Cross-border claims to GDP. 

One thing that is useful with this website is that it can show Canadians the unfortunate realization that a financial crisis could be coming in the near future. Comparing Canada to other countries is also helpful to find root causes and solutions. ]]> 2018-11-27 17:50:28 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/308423577 Website #3 - Huffington Post m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/308425141 https://www.huffingtonpost.ca/2017/12/04/canada-has-worlds-4th-highest-risk-of-debt-crisis-report_a_23296454/

The first part of this website explains that all Canadian debt that is outside of financial institutions is 9.4% higher than the usual annual average. Canadians are in to much debt within the Canadian economy. A percentage that is higher than 10% is a red flag for a crisis. The Bank of Canada is working on policies to help vulnerable Canadians ease and help reduce their debt. 

This website is useful because some people may not understand the terminology that is used when it comes to money and debt, so therefore having pictures, charts and graphs is essential in helping Canadians physically see the problems that we are facing.  


]]> 2018-11-27 17:52:39 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/308425141 Video #1 - Is Canada at risk of a banking crisis? - https://www.youtube.com/watch?v=ncTflQOaf0w m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/310121775 This video speaks on financial crises in a national sense, focusing on Canada's national debt and the factor that we are at risk of becoming involved in a financial crisis within the next decade. Professor James Barth of Auburn University, goes into depth about why Canada is becoming a concern to the BIS (Bank for International Settlements). Canada is becoming a concern to the BIS due to it's debt related to GDP which is affecting the economy. He mentions that debt isn't bad and people having debt to pay off helps the economy but when that debt to GDP ratio surpasses 80%-100% countries can encounter a banking or general financial crisis. 

This video was useful in a sense that it explains to any citizen watching how they can help the economy and contribute to the prevention of a national financial crisis.
]]> 2018-12-02 03:43:11 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/310121775 Video #2 - Party's over for Canada's economic growth - https://www.youtube.com/watch?v=WQw8aYn5qjs m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/310122090 This video elaborates on how Canada for many years had substantial economic growth but is vastly slowing down. In fact it has stayed at 4% for a long time and is on its way to dropping to 2% and is expected to stay at 1.7%. This means that incomes won't rise as fast and therefore tax revenues will diminish. This will continue to cause a domino like effect destroying government spending budgets which will deteriorate the room to put money towards national debt removal. These issues will eventually contribute to the already high risk of Canada's financial crisis.

This video is useful because anyone who could one day start questioning why there tax return is low, or why they can't seem to get raises anymore; would now be able to think back and remember that the economic growth is the cause of it and therefore they would be able to look into it more.
]]> 2018-12-02 03:49:48 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/310122090 Video #3 - Canada Will Face the BIGGEST Crisis Since 1929 as Debt WORST IN HISTORY! - https://www.youtube.com/watch?v=23TGazy9btk m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/310122257 In this video we look over all reasons for Canada's economic/financial crisis. The video starts with the citizens credit and household debt being at a record high, 170.4% to be exact. He mainly speaks on credit card use and how Canadians seem to be using there cards so much that more money is being borrowed than there is around. He uses examples like daily spending on a credit card, student loans, mortgages etc. The fact that Canadians are spending more than they make is pushing the household debt levels to new limits, even surpassing the U.S peaks. 

This videos main use is it can advise people not to overspend with credit cards both for their own sake and our country's sake.
]]> 2018-12-02 03:53:02 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/310122257 Word Document m_hill4 https://padlet.com/m_hill4/bna02c5bjx8m/wish/310624284 2018-12-03 19:55:30 UTC https://padlet.com/m_hill4/bna02c5bjx8m/wish/310624284