A Map of the New Normal

During the pandemic, the borrowing patterns of the Canadian government inflated a national deficit by a factor of ten in just two years - and the time has come to pay for it. The ramifications of ...

During the pandemic, the borrowing patterns of the Canadian government inflated a national deficit by a factor of ten in just two years - and the time has come to pay for it. The ramifications of international COVID-19 spending could potentially last for decades, and inevitably one of the first manifestations of these consequences will be that central banks will lose control of interest rates, and therefore of growth and inflation targets. The genie will be out of the bottle. That is just the first symptom of a series of cascading upheavals. Supply-chain disruptions have already shown the vuln