Tomorrow we finally get a federal budget in Canada. By all accounts, our beloved Liberal government will be going 'all in' and creating a massive, unprecedented spending deficit.
In my humble and cranky opinion, this (of course) is exactly the wrong approach - trying to boost demand in an economy where supply growth has been lagging for the last decade.
What we really need is to relax government control & regulation and get out of the way. Let our competitive strengths flourish. Fat chance of this happening under a government that loves central-planning and Keynesian tax & spend.
We're heading back into failed 1970's-style Pierre Trudeaunomics. Buckle up folks, cause it's going to be a long, unpleasant, and bumpy ride.
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