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Trend toward easy credit across North America sparks alarm
The piece warns that easy credit, led by U S banks and AmEx style cards, fuels a debt surge. It notes U S mortgage lending exceeding 100 million weekly, high real estate prices up a third, and rising total debt to 8.2 trillion while inflation stays low. Kaufman warns of a debt induced recession and Canada faces a widening deficit and weaker currency.
MENTIONED IN THIS ARTICLE
American Express
AmEx
Canada
Killer Bees
Prince
U.S.A
Bank of Commerce
Henry Kaufman
New York
New York Stock Exchange
Kaufman
U.S
Feds