Going out on a limb, but it is neither ideal nor sustainable for the public sector employment to outpace private sector employment over the long run. Over the past 25 years, Canadian government employment has grown faster and more steadily than private employment. From 1997 to 2024, public-sector jobs rose 67% (about 1.9% annually), versus 45% in the business sector (1.4% per year). {chart} The perils of stock picking are clear: backing the wrong horse in the GLP-1 race led to vastly different outcomes, with Novo Nordisk struggling while Eli Lilly thrives. {chart} I’m often asked whether it’s too late to buy gold at ... (full story)