Updated to add the source link! My apologies.
For months and even years, the mainstream news has sought to spin terrible inflation news. It’s not so bad, it’s just transitional, it’s getting better, it’s not really a problem, and all your gloom about the value of the dollar is in your head. Truly, in the past fortnight, we have been inundated with articles suggesting that the public is dumb as rocks for thinking that inflation is still a problem.
Yesterday morning: boom! The upward trend for the entire first quarter was solidly confirmed. We could be entering a second wave. It was so bad that not even the two most influential venues could deny it. The New York Times reported, “Inflation Stronger Than Expected.” The Wall Street Journal reported, “Hot Inflation Report Weakens Case for Fed’s June Rate Cut.” The accompanying editorial is even better: “The Inflation Thief Rises Again.”
Truly, I’m stunned by the highly unusual and rather brazen truthfulness of these headlines. I don’t think we’ve seen that in three years. Which makes me wonder: Maybe the problem is even worse! […]
In the 1970s, the devastation occurred in three distinct waves. Each time the trend improved, elites declared victory and the Federal Reserve moved in with rate cuts, thereby causing yet another round. Absolutely no one in charge anticipated the next wave. It came anyway.
Whaaat, Trudeau wouldn’t lie to us, would he? Seriously?
Again, to paraphrase the late John Pinette “Stop your damn spending”.
Oh I agree! One of my favorite lines is from the British Sitcom “Little Britain”. It is “The Computer Says NO!” That is what I think of when I hear about Trudeau and the federal Liberal Party spending money like there is no tomorrow. Just say “NO!” to spending and cut wasteful programs.
stop using that term. it does not apply most of the year, in Canaduh, when referring to govt purchases and payments.
at a later and later date we are ‘tax free’.
likewise an earlier and earlier date ‘spending’ morphs into DEBT DEBT DEBT DEBT DEBT
and the TURDeau is so good at ‘keeping up’ with the spendthrift ‘mercuns on that.
What do you mean. Our governments do not spend, they invest
The term “inflation” directs our thoughts in a direction that isn’t helpful. Actually very deciteful.
I think it much more helpful to describe what is robbing us is a “devaluation” of the currency.
Devalued intentionally. Expanding the money supply…then contracting it via high interest leaving the country and you personally with un-payable debt.
A devaluing of a dollar makes us shy away from incurring debt at a personal level. If only governments feared it as much as the rest of us that don’t have gold plated indexed pensions.
@conned – “then contracting it via high interest leaving the country and you personally with un-payable debt.”
Interest rates should never have been as low as they were for as long as they were in the first place. It encouraged reckless borrowing (over-spending) and penalized “savers”.
So why is everyone enthralled with Mark Carne, a dangerous man, who started lies to Canadians by the Bank of Canada?
Inflation is at least 10% now, according to my budget, and has been high for many years.
+++many
When the total public debt is so large and accelerating at a record pace, no level of taxation can touch it, and no politically acceptable level of spending cuts can either, that only leaves default or inflation and lots of it. Default could occur simultaneously with the replacement of the dollar with a CBDC but would be viewed in the international markets as untouchable and therefore worthless. Inflation wins again until fiat currencies are replaced by (revert to) real money in Gold, Silver, and copper and I don’t mean a Gold standard but simply the metal. Redeemable certificates can get around the physical burden of large transfers in the short term. It’s why almost every non woke nation’s central banks are buying Gold. Interesting times ahead for countries like Canada who hold none.
but, but, but,,, our natural resources are our collateral, they’re supposed to support our dollar,,, except we have a government in power, that is putting laws in place to prevent the exploitation of said resources!!!
To keep them as pristine as possible when we default on our debt and China repossesses them.
Watched some of the coverage on the inflation numbers,,, funny nobody was talking about how oil had risen above $80 at the start of April, and last it was in the $86-87 range. Where do they think Apr and May numbers will be when this price increase works through the shipping and transportation areas.
I don’t believe interest rates will go down before the election, (unless the fed receives death threats from the see eye aye, in support of biden)
odd, the CAD is going down, as crude oil is going up!
@Carl
If this stupid war goes off in the ME which is likely, oil will shoot through the roof. Coupled with further shipping bottlenecks on goods you can expect Biden to open what is left of already depleted US Strategic Oil Reserves to try and dampen inflation before November.
Sorry, there is, and never will be, a business case for Canadian energy. Unless we change governments, and I don’t just mean the Washington Generals in place of the Harlem Globetrotters.
If this country had a government encouraging oil&gas production and exports, the dollar would rise. Instead, we have the puppets in charge, who badmouth our resources every chance they get.
They’re just following ZEE ORDAHS!
methinks you refer to the gill boat. mr felon-in-cabinet.
what despicable pc of grey matter. honest injun l see that smarmy face
my peaceful nature runs away in the presence of a desire to bash it in.
Climate freaks need to feel the effects in their wallets. Manufacturing has been driven out of Canada by taxation. The gov’t want no ranching, no resource development, except maybe lithium for phones, heating poverty.
Is their any federal program that works?
A serious recession is coming.
Up or down, right or left, it is always about acquiring more control and more power for the government. More taxes always leads to a faster rise in inflation, and a poorer citizenry. We are not in a free country.
I think you have inadvertently hit upon the cause. People are flocking here thinking it is a “Free Country”[TM] when, of course it’s us dumb schmucks already living here that pay the bills.
When layoffs finally hit EVERY sector of the economy (read: Tech). I truly believe we could be facing Depression and mass crime. Crime so terrible that the US military will be needed to protect the Palo Alto homeowners
Buy Security company stocks, service & goods – well fenced insular amenity Gated Communities will be the future. Think apartheid South Africa in the 80’s.
I don’t think we’re allowed to have Gated Communities anywhere in Canada, but I can’t keep up. If we can, let me know where.
Kenji, we already have mass crime in the West. It’s called government and it’s called invasion.
+++++ Buy that man a beer! +++++
You will know we have reached the end when people are ki11 ing other people to eat what they have, government ceases to exist and anarchy is the order of the day.
Once you take out The Trudeau Freeland deficit spending spree, wr are already in a recession, and have been for a while.
Must print more money.
If you think that inflation is over,farm land price is doubling every two to three years. It will soon double every year then every six months,then every three months then every……….,,,,,,,,,day.
yep
gonna be like what the rapist says to the vic; its gonna happen why not enjoy it?
I also like how they lie about the actual amount.
Old Man Stupid’s Inflation Reduction Act is as ridiculous as a dude with a 12 inch wrench claiming he’s a little girl.
The moronic (average) voter has ZERO clue what government over-spending does.
The extract comes from here: https://www.theepochtimes.com/opinion/its-official-reflation-is-here-5626843
Thanks. It didn’t sound like Kate.
I subscribe to the Epoch Times and receive their daily briefing.
A SUPERB PUBLICATION.
Two weeks to flatten the curve.
And it’s only going to cost taxpayers $14 trillion more dollars!
I have very little faith in our currency. Ten years ago, to buy a 1 ounce silver coin, the price was the market price of silver plus $2-3 for the coinage. Now the price is market plus almost $20 for the coinage. I think our currency is devalued already and inflation is just playing catch up.
What are you talking about … it is around $4.80 on this site https://silvergoldbull.ca/canadian-silver-coins?c1=MSN_SE_NW&source=CAN_BRD&cr2=search__-__nw__-__can__-__general__-__brd&kw=2021_canadian_maple_leaf_silver_coin_brd&cr5=80745510642809&cr7=c&utm_source=bing&utm_medium=cpc&utm_campaign=search__-__nw__-__can__-__general__-__brd&utm_content=search__-__nw__-__can__-__general__-__brd&utm_term=2021_canadian_maple_leaf_silver_coin_brd&msclkid=5dfab364b8fe1586f298d578f5fad7e3
US dollars I believe
If you’re paying $20 extra per coin, you must be drunk buying off some late night TV infomercial.
Last time I looked at the silver price (December?) it was around $25/oz. silver maple leaves were selling over $40. I’m shocked that the silver price jumped and the coin price hasn’t. I think this actually proves my point that inflation has a long way to go to actually reflect the value of the dollar.
You imply that I’m not overly intelligent, when Trudeau was elected I bought a very large quantity of silver maple leaf coins as currency insurance. I advised everybody I know to do the same. The value of the silver has doubled. Did you do something similar? or do you just like to spout off?
“ but, but, but,,, our natural resources are our collateral”
Carl hits the nail on the head.
A nations resources, assets, wealth creation is what should back a currency.
“Gold” backing of a currency is no solution. You can’t eat gold! If you have the gold and I have the wheat and there is nothing else of value…guess who eats and can grow some wealth?
Lots of explanations why “gold backed” currency is a fallacy.
Here’s one explanation.
https://www.financialsense.com/charles-hugh-smith/problem-gold-backed-currencies
the problem with ‘gold backed’ is the finite supply. now, if it was finite but about 10 times as much to properly be able to ‘tamper’ things instead of now merely protects certain portfolios when needed and scaREW the rest of the ‘cake eaters’.
but not to worry, when l sell my place 5th time now, lm gonna carefully source and buy gold. how much and price at that time 2 b determined. havent held gold since mid 70s.
Wealth to poverty, I’d say that’s pretty transitional
The Yanks are even worse than the Canuks at government spending at present. The thing is, interest rates do not control government spending, the current cause of inflation, but they do screw everyone else.
Robert, you know we’re not allowed to talk about that. Dear Leader will have us flogged.
What are you talking about … it is around $4.80 on this site https://silvergoldbull.ca/canadian-silver-coins?c1=MSN_SE_NW&source=CAN_BRD&cr2=search__-__nw__-__can__-__general__-__brd&kw=2021_canadian_maple_leaf_silver_coin_brd&cr5=80745510642809&cr7=c&utm_source=bing&utm_medium=cpc&utm_campaign=search__-__nw__-__can__-__general__-__brd&utm_content=search__-__nw__-__can__-__general__-__brd&utm_term=2021_canadian_maple_leaf_silver_coin_brd&msclkid=5dfab364b8fe1586f298d578f5fad7e3
US dollars I believe
“Maybe the problem is even worse!”
Of course it is; the current method of calculating inflation is a farce.
The price of gasoline doubling is not a problem. Unless you buy gasoline.
The price of food increasing 20% is not a problem. Unless you buy food.
Funny how “Inflation” is never calculated ,by ‘government expert’ on just the things we must buy.
Food.
Shelter.
Heat.
Transport.
Just as soon as a real thing increases in cost,our pretty little helpers immediately remove it from their “basket”.
Remember the 70s?
20% inflation..
Theft by Kleptocrat.
Liars for decades
Yes, exactly. The CPI is a joke.
A new apartment bldg opened down the block. $1600/mo 1 bdrm.
That’s $10/hr after tax wage for shelter.
My Lib dip sister say it way cheaper to rent than buy?
She may be right, when a semi detached house is selling for 600 to 800 thousand. Tell me how many people you know that have the down payment, the income to carry a half a million dollar mortgage, taxes , utilities and maintenance. I don’t know any young people who have jobs that could do that.