A great perk of early morning work is seeing the sunrise from our window. You would almost think all was well in Canada this morning.
Unfortunately, Canada’s susceptibility to economic pain and debt crisis are surely higher today than at any point in the past couple of decades. We have credit abuse and short-sighted, destructive financial planning, along with aging demographics to thank for our woes.
On the upside, the population is coming to a generational epiphany on what not to do with money and how to diversify an economy away from dependence on fossil fuels and real estate bubbles. Several countries will be going through this learning process of necessity with us, but there will not be much comfort in the company. For individuals and small businesses, moving ahead of the pack to lower financial leverage (debt and risky-assets) and raise liquidity, sooner than later, will be key to outcomes through this period.
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