Charts That Matter- Sep 9th

“Debt owed by governments, businesses and households around the globe is up nearly 50% since before the financial crisis to $246.6 trillion at the beginning of March” .The only way out is default through Devaluation

Capex investments, a key driver of future growth expectations have taken a back seat to buybacks and dividends.

Canadian real GDP per capita growth is ZERO percent over the past year.

MILLIONAIRE METRIC  Vancouver, Calgary & Toronto Single Family Detached and a Millionaire all priced in $CAD Ounces of Gold  10 years ago one needed 977 oz of CAD gold to be a millionaire.   Now only 490 oz or 50% less are required.

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The unfortunate backstory is that US department stores are losing market share as fast as they are downsizing employees, so it still takes 8 employees for $1 mn in sales per year despite job losses. Meanwhile, e-commerce doubled its share of “core” retail sales in the last 10 years.” Robin Brooks Chief economist IIF

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