This is one of the best overviews of where there economy is, and will be headed in the coming years, I have heard anywhere. David isn't alarmist, and he uses rational arguments (with facts and historical comparisons) to explain how we are in the midst of a long term cyclical bear market that will experience a lot of volatility in the coming years. This is no prophet of the apocalypse. Life will go on, we will eventually get through this, but things will be rough for many years.
It's very sobering to hear how there have been lengthy periods where bear markets prevailed, despite large rallies along the way. I laughed when I heard the warning to bond bears, pointing out that US treasury yields fell in the '30s DESPITE massive government stimulus and spending.
Of course, it only stands to reason that such a level-headed perspective on the economy would come from the mouth of a Canadian.
