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Canadian total (household, business, and all levels of government) debt numbers as of the end of June, 2017

The borrowing and spending binge by Canadian households, businesses and governments (all levels) continues unabated. Growing the debt in the economy significantly faster than the economy itself grows seems to have developed into a way of life in Canada.

At the end of June, 2017 the total debt outstanding in Canada (bottom line of the Statistics Canada credit market summary data table) was $7.51 trillion. At the end of June, 2016 the total debt outstanding was $7.13 trillion. In the 1 year period from the end of June, 2016 to the end of June, 2017 it increased by $375 billion. This is an increase of 5.2%.

The approximate beginning of the global financial crisis was June, 2007. At the end of June, 2007 the total debt outstanding in Canada was $3.99 trillion. In the last 10 years it has increased by $3.52 trillion. This is an increase of 88.3%.

Looking at the total debt outstanding of domestic non-financial sectors in Canada (17th line up from the bottom of the credit market summary data…