I really do want to talk about COVID-19 and get to the bottom of how the issue will progress in the coming months.  While each crisis is different, they are all sort-of-predictable because in the end, people don’t change all that much, even though circumstances do.  Certainly we want to get this all behind us, in the rear view, so to speak.

But what is this pattern I mentioned?  Here are, as near as I can determine, Eight Stages of a Crisis™, a level at which each crisis can be evaluated compared to the other – this is my modification of work originally done by Zunin and Myers.  This is like the Kübler-Ross five stages of grief, but with the apocalypse in mind…CLICK for complete article

Canada’s economy is bracing for its steepest decline on record in the coming months, with unemployment set to rise to its highest in nearly a quarter of a century. Almost 1 million Canadians applied for jobless claims last week, representing almost 5% of the labor force, this does not include the thousands of claims filed over the weekend.

The speed of the jobless claims is record-breaking, the previous record for an entire month was 499,200 which happened in 1957, according to Statistics Canada data. We anticipate the unemployment in Canada will eventually spike higher than where it was in the early 1990s which, was 11.3%.

One of our greatest concerns with regards to the Canadian economy is its banking system even though its balance sheets are much stronger than 2008.

With this being a major business and consumer recession, timing could never be worse. There is extreme corporate and consumer leverage presently persisting throughout Canada, with debt levels in all tiers nearing all time highs….CLICK for complete article