Tuesday, January 17, 2012

Bank of Canada keeps punishing savers...

Stays pat at 1%.

Do you get the idea that the B of C doesn't really know what to expect. Uncharted waters. Not sure what's coming. So call it both ways and then stick it to savers again.

Then we have a TD Bank spokeswoman saying that lower mortgage rates are NOT an invitation to borrow more. Huh? Well it's in your hands lady. Tighten requirements as you lower rates and the net result will be a less money borrowed by less extended borrowers.

BUT you want consumers to exercise restraint even while the banks have become debt-pushers, with subliminal ads that equity must be withdrawn and spent with stupid statements saying that we 'are richer than we think' (that will come back to haunt them) even while stats show the highest debt burden on consumers ever, completely unrelated to their measly income growth.