The economics profession has become a self-satisfied apologia for the plunder of society's wealth by the greedy and ruthless 1% -- the "masters of mankind."
When the National Balance Sheet came out this month, the focus was on the need for households to pay down that debt... somehow. But we need to look at the broader debt picture across all sectors.
Seniors' growing level of debt is a real concern in Canada. Is it a sign of things to come as today's working-age Canadians put themselves more deeply into debt?
The proportion of Canadian households in debt and the amount owed has grown in just over a decade according to a new Statistics Canada report.