Look how the tables (literally - the charts) have turned over the past year. And market sentiment is totally different when reviewing some posts I made last March. Q2 2020 was absolutely hideous for Alberta but Q2 2021 is a different story. The Canadian dollar plunged to 0.68 cents USD, now we have breached 0.80, a major 12 month turnaround for a country reliant on imports for many essential products.

The energy industry went through some surprising consolidations and the outlook is much brighter. Companies facing collapse are now market darlings. All the key commodities I look at, lumber, copper, etc are huge industrial moneymaker (while the builders are getting screwed for sure and it hurts, at least the economy can overall improve).

Perhaps the biggest change is the advent of vaccines. While the country is performing poorly as a whole in acquiring supply, the market is now forecasting abundant doses, likely enough to inoculate everyone by fall. And since government debt appears to not matter to anyone we’re debasing our currency into prosperity and driving up the price of housing and hard assets everywhere with cheap loans.

what does it all mean? Nobody knows but we can keep on building until we run out of lumber!