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Canadian Insolvencies Hit a 16-Year High — What the New Data Means for You

  More than 37,000 Canadians filed for insolvency in just three months — the highest quarterly total since the 2009 financial crisis. New data paints a sobering picture of where household finances stand heading into summer 2026. Fresh data from the Office of the Superintendent of Bankruptcy (OSB) and a new Equifax Canada report released this week confirm what many Canadians have been feeling: the financial pressure is real, it is growing, and it is reaching households that once seemed insulated from serious debt trouble. 📊 Q1 2026 — Key Numbers at a Glance 37,121 Consumer insolvencies filed in Q1 2026 +8.5% Year-over-year increase 17/hr Canadians filing every single hour $2.66T Total Canadian consumer debt The Highest Volume Since the 2009 Financial Crisis The Canadian Association of Insolvency and Restructuring Professionals (CAIRP) confirmed that Q1 2026's tally of 37,121 consumer insolvency filings is the largest quarterly figure since 2009 — the year North America was still re...
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Trump Defends Tariffs Amidst Economic Uncertainty



In a recent address to Congress, President Donald Trump defended his tariff strategy, despite acknowledging the potential economic discomfort it may cause. Trump emphasized that the tariffs, which represent the largest increases in a century, are designed to generate significant revenue and rebalance what he perceives as unfair trading relationships. He assured Americans that the economic pain, manifesting as higher prices, would be a "little disturbance" that the nation could overcome.

Trump's speech, which lasted a record-setting 100 minutes, focused on his political strengths, including immigration policies and social issues, while spending relatively little time addressing consumer prices and inflation. He blamed high prices on his predecessor, Joe Biden, and offered few new ideas to lower costs.

The president's approval rating has declined in recent polls, and data shows new strains on the economy, including stagnating factory activity, simmering inflation, and declining consumer confidence. Despite these challenges, Trump remains committed to his tariff strategy, believing it will ultimately benefit the American economy.


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