Canadian Politics Today

In 2007 a 5 year GIC rate was about 3.5% A ten year govt bond paid over 4%. In 1990 a 5 year GIC paid 11% and a 10 year bond 10.8%.
In 1981, 5 yr GIC's and 10 yr bonds paid over 15% and the average for the next ten years was over 10%.

It wasn't great unless you had a lot of money in the bank but we survived.
Can you imagine what would happen if we hit those rates now. It would be catastrophic.

And people wonder why Mulroney's deficits were so high.