This 4-chart mashup looks at Canadians (households and business) continuing to vigorously pile on debt at an even steeper angle of acquisition than before the crash into the 2009 pit of gloom.
The 5 years of Canadian negative output is a surplus boon to other countries and their productivity programs.
If we are willing to increase productivity to maintain our living standard, but reject reducing our labour cost by the expedience of withering real wages, then we have to build better machines and algorithms for production. That means changing skills from low cost physical labour to comprehensive high value intellectual labour and management combined.
If we are not willing to compete on productivity, debt will take a long time to transform into equity and will be limited in its ability to leverage.
Meanwhile Canadians blithely pile on debt. Are you over leveraged? Figure it out.