Right. I remember a journalist from the CBC telling me that there would not be a recession, that all the experts knew it. This was in December 2019. Sure enough, three months later, we were nearly in a depression. Unpredictable events happen.
On the issue of wealth inequality, our friends in the NDP are talking about a $6-billion wealth tax, but they're ignoring simultaneously the massive subsidized ballooning of the wealthiest people's assets through the quantitative easing program. The Bank of Canada is printing money and buying the assets of the very rich, ballooning asset prices and causing billionaires to make vast fortunes, regardless of what industry they're in, not because of their sales but because of the inflation of their asset values. That's $400 billion being pumped into the assets of very wealthy people.
The NDP is concerned about $6 billion. Fine, but I think all of us are asleep at the switch as the wealthiest people in the country gain the biggest increase in unearned wealth perhaps in my lifetime. I'd like to ask Mr. Booth if he can shine some light on this monstrous wealth transfer from wage-earners, whose wages are being devalued by this money-printing exercise, to wealthy asset owners whose stocks, bonds and real estate are ballooning in value.