Prime Minister Justin Trudeau and Deputy Prime Minister and Minister of Finance Chrystia Freeland enter the House of Commons to deliver the budget on Parliament Hill in Ottawa, Tuesday, March 28, 2023. Justin Tang/The Canadian Press.

Cheap money is fun until the inflation hangover hits

A key issue is that Canadians accustomed to a long period of stable inflation and low interest rates have taken this for granted and built it into their economic expectations. The recent spike in inflation and especially interest rates has been an inconvenient lifestyle surprise.

A reveller laughs as she waits for the countdown during the New Year's Eve celebrations in Times Square, late Saturday, Dec. 31, 2022, in New York. Andres Kudacki/AP Photo.

The road ahead for the West and the world

The decadent, irresolute, and unfocused West appears to have dealt with COVID after all, managed to develop the better package of vaccines, is solving its energy security issues, and is now rapidly coming together in cooperative behaviour to push back against both Russian and Chinese government assertiveness.