Canada has embarked on a monumental economic experiment
In the face of a once in a century, worldwide catastrophe our government closed the economy down to protect citizens from a plague
Correctly, the government introduced an unprecedented
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8 Million people on CERB, absolutely massive support
To the point where the stock market has almost recovered and in some cities RE prices have actually GONE UP
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Could we argue there was poor execution of specifics? We could but it would be dumb because battlefield surgery doesn't work that way
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What do we do now?
Likely a half a Trillion Federal deficit this year
And some sectors of the economy likely not to recover for years
Very troubling, worrying
And yet....
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Clearly not for some; there are properties in Toronto with 36 bids, record prices
But its absolutely a disaster for some: hospitality workers, energy workers, I know event planners that have just closed forever
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How will schools and daycares resolve just to give people a chance to work normally?
Something is sure as hell going to happen but what?
I am certain it's not going look like Spring / Summer 2020
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What do citizens expect? What will they accept? How will they react? Will people insist the support continue? But how could it?
The next chapter begins to unfold after September