A Map of the New Normal

During the pandemic, the borrowing patterns of the Canadian government inflated a national deficit by a factor of ten in just two years - and the time has come to pay for it. The ramifications of international COVID-19 spending could potentially last for decades, and inevitably one of the first manifestations of these consequences will be that central banks will lose control of interest rates, and therefore of growth and inflation targets. The genie will be out of the bottle. That is just the first symptom of a series of cascading upheavals. Supply-chain disruptions have already shown the vulnerability of the globalist model that has fuelled growth for the past decades. War has not only shown the fragility of the status quo, but has revealed diplomatic and economic rifts that promise to shift trading patterns, which means access to markets and to resources. At the same time, the precarity of the US dollar underlines the life-or-death importance of those resources, energy in particular