- 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.
For further details see:
Wealth Effects From Asset Bubbles And Stimulus Are Transitory