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Canada faces a myriad of serious economic challenges.  On May 18th, the Canadian consumer price inflation hit a three-decade high, adding pressure on the Bank of Canada to continue with major interest rate increases.  This at a time  of record level government deficits and historically high debt levels.  At the same time, Canada's dismal track records on productivity, regulations and energy policy appear to be setting the stage for economic recession and decline.  Witness a recent OECD document shows Canada…