Keynesian economics revolves around rewarding reckless government spending. The moment Keynesian economics was embraced, you had to know the Gold Standard was going to be eliminated, because now everything could be considered an emergency.
The climate is changing, it’s an “emergency” now, people are racist, it’s an “emergency” now gotta lower interest rates, the government is to big to shrink, it’s an “emergency” got to lower interest rates. The housing market is stagnant, it’s an “emergency” now, got to lower interest rates.
The problem with Keynesian economics and central banking is that they destroy the economy, Canada’s manufacturing sector is miniscule and reliant on a hostile China, sure the world excepts our currency, but as you can observe with domestic housing prices, the true DOMESTIC value of the loonie, is a clear sign of the accelerating debasement of the Canadian dollar.