Months of lockdown have destroyed somewhere between a quarter and half of all small businesses in Canada. The resultant unwinding of commercial real-estate deb

Months of lockdown have destroyed somewhere between a quarter and half of all small businesses in Canada. The resultant unwinding of commercial real-estate debt hasn’t even begun. The deflationary spike and follow-on “riding the dragon” of inflationary response by central banks hasn’t even begun. When we finish consuming our personal reserves, and begin in earnest to try to supply food and lodging to the, what, 50% of the population not “employed” by government, what do you guess is going to happen. It will be illuminating, at least, to those who think they understand how civilization works...