The problems are real, the diagnosis is wrong and the solutions they recommend won’t work. The good news? What was actually tried last time worked great.

I subscribe to a U.S. website that reports on economic data called Wolf Street. The writer gathers and shares economic data, and one of the reasons it’s particularly useful is that he gathers info and shares indicators that show another side to the economy that’s particularly overlooked – especially household private debt and real estate bubbles. This runs counter to a lot of orthodox macroeconomic models, whose indicators focus on a basket of goods relating to inflation, on government debt and deficits, and on aggregate numbers of GDP and employment that don’t consider who is getting paid what.

Recently, WolfStreet shared these “stunning” charts from a report by the National Bank of Canada – and they are stunning – they show that:

https://dougaldlamont.substack.com/p/stunning-charts-tell-a-whole-other