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The Bank of Canada Is Keeping Interest Rates at a Quarter of %
In the eighties, we took on mortgages even as interest rates were soaring. We've used credit to spend our way out of recessions like after the two nate financial crisiss. And all the while, wages have pretty much stagnated. So we've used debt for basic needs. I'm just one pay check shy of a losing everything, as a lot of people are. The bank of canada has kept interest rates super low to boost investment and keep the economy moving. But now there's the pendemic. For many the only way out will be bankruptcy.