- Despite trillions in U.S. government transfers to moderate and lower-income households in 2021, the household savings rate as a percentage of disposal income, below since 2011, round-tripped back near the lows of the last decade in September.
- Record fiscal and monetary injections have achieved a record concentration of household exposure to equities at the highest valuations ever.
- Canada’s stock market has a much smaller tech sector, but we still crashed pretty much in lockstep with the S&P 500 in 2000-02, 2007-09, and 2020.
For further details see:
After The Shock And Awe, Round-Tripping To Financial Disappointment