ZCAN - Wealth Effects From Asset Bubbles And Stimulus Are Transitory

• The Canadian economy shrank 5.4% in 2020 (the sharpest annual decline since World War II) despite government transfers that totalled an incredible $20 for every dollar of other income that Canadians lost.
• The wealth effect of asset bubbles has always been transitory. Despite what many like to hope, there's no 'permanently high plateau' in market cycles.
• The 'free' money of the last year is not free. Economies, taxpayers, workers and investors will be paying it back for years to come.

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