487 – Consumer Insolvencies and Bankruptcies Continue to Rise [Year-End Analysis and 2024 Predictions]

In this year-end podcast, Doug and Ted review their 2023 predictions and share insights on what to expect in 2024. They discuss the accuracy of last year's forecasts on inflation, interest rates, and insolvency rates. Doug predicts a decline in inflation due to an anticipated recession, and Ted adds insights on borrowing for essential living costs and the potential rise in insolvencies. They acknowledge wildcard factors like the real estate market and unemployment rates. Tune in for predictions on what is on the horizon for 2024 and how it could shape your financial future.

Related Links:

2023 Debt Statistics and What It Means for Consumer Insolvencies https://www.hoyes.com/blog/2023-debt-statistics-and-what-it-means-for-consumer-insolvencies/

Why Are Consumer Insolvencies Back Up? [Year-End Analysis + 2023 Predictions] https://youtu.be/3i22JpmcozY

Bank of Canada Interest Rates https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/

Federal Budget Deficit https://hillnotes.ca/2023/04/06/the-2023-federal-budget-at-a-glance/

Bank of Canada: Definition of M2 https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/

Statistics Canada. Table 36-10-0639-01, Credit liabilities of households (x 1,000,000)

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901

Statistics and Research from Statistics Canada

https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/statistics-and-research https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401 https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410032001

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901 https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110006501 https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610011201

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3810023801

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028701