https://padlet.com/jexy12/f0p72fihip97 By: Colin Jex 100565592 en-us 2017-04-03 20:16:59 UTC 2023-04-22 02:15:38 UTC hello@padlet.com jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164473501 By: Colin Jex]]> 2017-04-03 20:26:22 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164473501 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164473951 In this pallet you can expect to learn about the importance of consumer credit on economy. This will mainly be focused on Canada. A general definition of consumer credit is the debt that occurs when you purchase something on a credit card such as a television. ]]> 2017-04-03 20:29:08 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164473951 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164476945 In this website it talks about the effect of mortgage on consumer credit and the economy. I find this really interesting because I thought that something like a mortgage would count as a part of consumer credit. I choose this article because it explains how mortgage borrowing has expanded and how it slows done consumer credit which in turn slows down the economy.  This article explains how with the rising house prices affect interest rates and consumer credit]]> 2017-04-03 20:44:50 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164476945 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164478900 This was a great article all about the consumer credit and how it is changing and how that change is affecting the economy. In this website they talk about how much the borrowing has grown from last year to this (4.1%). It explains how important it is for consumers and companies buy and borrow more. It was published in 2014 but still has a lot of useful facts and it talks about how from 2010 to 2013 the consumer credit remained about the same and how this year is great for the economy and has the biggest spikes since 2009. ]]> 2017-04-03 20:57:34 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164478900 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164479277 This video is a conference style video where they discuss things such as Canada's financal system, the housing market and some of Canada's vulnerabilities. I found this video very informative as it touched on a wide variety of topics. Not all touched on the consumer credit but it was very helpful in explaining more on the housing effects on economy and also some vulnerabilities it causes. The video talk about how the housing market continues to grow and grow and how this applies pressure on families but also on the economy as the first website talked about this slows down the economy.  ]]> 2017-04-03 21:00:44 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164479277 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164482700 This article is on household debt. In 2015 the numbers for household debt reached the highest they have been. This article is important because it is showing that the consumer credit is very high which in turn is good for the Canadian economy but also some different effects on household debt. This article talks about how interest rates have been very low in recent years and how that affects someones desire to take on more debt. With the interest rates being lower there is less of a fear to have more debt and with that the economy is growing as people are buying more.]]> 2017-04-03 21:27:33 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164482700 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164483885 The main reason for choosing this video is it was actually held at Durham College. I found that very interesting and I learned a lot through this video. One of the main topics was the housing market, there were plenty of questions asked about the housing market, about student financial and about consumer credit. I found it interesting because this couldn't be scripted. This was a live stream and questions were asked and it was a good way to hear about on going concerns from people very involved in financial fields but also from interested people who may not no as much about the topics. They touched on where the province of Ontario is right now in terms of the economy and how the increase of the housing market could affect the economy and some plans in place to slow that down.]]> 2017-04-03 21:35:32 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164483885 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164486437 This is a very good video for first learning about consumer credit. The person in the video talks about the different types of consumer credit. Type one, non installment credit, which is a charged account, monthly payments are made in this type based purely on how much you put on that card. Type two, Installment credit which is an account that you make payments of a set amount every two weeks or month however you have it structured. Type three, Revolving credit, which means the price you are paying goes up and down like a credit line. What I found interesting about this video is that each type is explained both their similarities and their differences. It ties in very well with how each type affects the economy. ]]> 2017-04-03 21:52:09 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164486437 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164488574 This image is showing that Canada owes the most in the G7. I choose this image to show how Canada compares to the other comparable countries. I think a large part of this is due to Canada's housing market right now. ]]> 2017-04-03 22:12:35 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164488574 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164488712 This is an image showing how the Consumer credit excluding mortgages has grown since 2012. In 2012 total outstanding balances was 503, 840 in millions. Whereas in 2016 it was 558,110 in millions. That is a very large increase but also shows that the economy has been picking up. ]]> 2017-04-03 22:14:23 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164488712 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164488919 Here is a photo that shows why consumer credit has been on the rise. This photo is showing that interest rates are lower and this allows the consumer to borrow more as explained earlier. ]]> 2017-04-03 22:17:25 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164488919 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164492263 2017-04-03 22:58:23 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164492263 jexy12 https://padlet.com/jexy12/f0p72fihip97/wish/164492265 2017-04-03 22:58:23 UTC https://padlet.com/jexy12/f0p72fihip97/wish/164492265