Rudyard Griffiths

Because I had to renew my mortgage.

Well, at least in those days you could buy a home for something like two to three times your income as opposed to 10 times your income in Toronto or Vancouver.

So the effects of higher interest rates will be even more pernicious because the leverage, the debt burden is so much higher now.

So just to wrap up this section, it,

Well, I know when I saw the government of Greece, for instance, one of the worst indebted nations in the world, came out with a half a billion dollar euro subsidy for affordability issues because they're confronting soaring energy prices.

That's ticking through to the public purse at grocery stores and gas stations.

So you see governments are continuing to run the same playbook, which is,

Let's borrow more.

Let's assume more debt.

Let's, you know, basically subsidize the risk that, frankly, Donald Trump has created for everybody in the world.

And again, though, I just wonder, Janice, you just said it.

How can you lay a whole other round of COVID-style government debt borrowing on top of COVID, on top of the great financial crisis?

So just sort of final moments to pull back, because we like to think bigger picture in the show.

What the heck is happening, Janice?

Why have we seemingly in the space of 15 years gone through three major shocks where the distance between the shocks seems to be shrinking?

But the intensity seems to be maintained.

What is happening that explains this kind of weird detour that we seem to have made over the last decade and a half into this kind of...

I don't know what you'd call it.

Polycrisis is one of the words that people evoke to try to explain this strange moment.

So the three horsemen of the apocalypse are just missing one.