https://padlet.com/misspaigedearborn/x0j8wk070fr8 Credit is an arrangement to receive cash, goods or services now, and pay for them in the future. en-us 2016-11-28 23:42:55 UTC 2026-02-01 06:55:23 UTC hello@padlet.com misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140368614 This website talks about our monetary policy - which is a set of rules made by the government regarding the amount of money that is in circulation within our Canadian economy. In Canada our monetary policy is conducted by the Bank of Canada - it works to adjust short term interest rates to be consistent with maintaining a low and stable inflation rate. ]]> 2016-11-29 00:05:57 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140368614 misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140370655 Consumer spending is a crucial part of how our Canadian economy grows. If we don't spend, we run into issues like unemployment and recession. By encouraging the monetary policy, our government makes it possible for consumers to continue to spend by lowering interest and tax rates. As long as debt is controlled and paid when bills are due, our economy and it's consumers will be safe from financial ruins. ]]> 2016-11-29 00:29:48 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140370655 misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140371664 This article is about Canada’s current household debt being bigger than its GDP. Apparently this is occurring for the first time ever. This website states that the reasoning is not because of spending but because of income. The Bank of Canada and Finance Minister Bill Morneau have said that they believe these record consumer debt burdens and housing booms will present a major risk to the country’s economy. 

]]> 2016-11-29 00:41:05 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140371664 misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140372035 The following growth chart shows that residential mortgage growth has stabilized in recent months. Personal loans seem to be up in the month of April, however credit card debt does decrease in the respectful months. ]]> 2016-11-29 00:45:42 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140372035 misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140373411 2016-11-29 00:59:56 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140373411 misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140378524 This video explains how the economy works. It ties in consumer credit and its effect on the economy. It suggests that there are three main forces that drive the economy. Productivity growth, short term debt cycle and the long term debt cycle. It also covers how most of what people call money is actually credit and states “in an economy without credit the only way to increase spending is to produce more but in an economy with credit you can also increase your spending by borrowing”, therefore has more spending allowing incomes to rise in the short term. 

]]> 2016-11-29 01:46:39 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140378524 misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140378838 ·      This video is a short clip explaining what exactly consumer credit and debit is. Before understanding how consumer credit influences the economy we must first understand what consumer credit is. It talks about the different types of credit and how a credit works and the dangers of interest. 

]]> 2016-11-29 01:49:11 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140378838 misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140389531 The drop in the price of oil had a massive effect on Alberta and other energy based provinces, so consumers in those areas were in no condition to shop or make any big purchases such as cars, homes, etc. Improving commodities prices in 2016 will help restore confidence and Canada will get back on track to sustainable growth over the long term. ]]> 2016-11-29 02:12:03 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140389531 misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140392895 It's important to remember that every time you use a credit card, you’re actually borrowing money from the bank and that loans are not free money.  The financial institution pays the debt to the store for what you bought. You then pay the money back to the financial institution. ]]> 2016-11-29 02:52:24 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140392895 misspaigedearborn https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140394594 2016-11-29 03:11:27 UTC https://padlet.com/misspaigedearborn/x0j8wk070fr8/wish/140394594