Rising Number Of Canadians On Brink Of Insolvency Shows Canada Is Already In An Economic Crisis

DM

Government spending and money printing can only paper over the underlying reality for so long: A country with thousands of shuttered businesses, weakening productivity, and immense debt burdens at all levels is a country in serious danger. We tend to think the future will look exactly like the past. But that’s often not the case. And when we think of an economic crisis, we tend to think of the Great Depression, assuming that things will look the same when a ‘crisis’ hits again. Yet, governments now have many more tools to try and paper over the obviousness of a crisis. For example, governments are far quicker to print money (or type it into existence on central bank computers), and give out cheques. This can prevent the immediate crisis of people being unable to pay for things in the short term, yet the deeper problems in the economy can continue to worsen. And that’s what we are seeing right now in Canada.

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