President Biden on Wednesday conceded that inflation is at a three-decade high because “people have more money now” as a result of his $1.9 trillion COVID-19 stimulus legislation, recognizing a central point made by people who are arguing against a nearly $2 trillion sequel.
The insolvency numbers are being reported at a time when Canadians are struggling to afford the growing price of groceries and gasoline due to inflation.
Excluding food and energy, two categories of goods that are central to the cost-of-living to households but are so volatile that economists look beyond them to see underlying inflationary trends, and prices rose 0.6 percent on a monthly basis and 4.6 percent annually. Both exceeded expectations.
North American beef prices are soaring as a labour crunch squeezes meatpackers and supply-chain snarls add to freight costs. In Canada, prices for a prime rib roast have risen 20 per cent in the past year and are the highest since at least 1995, Statistics Canada data show. Sirloin and round steaks have surged as much as 10 per cent in the last year and in the U.S. beef steaks are fetching record prices.
As you likely know by now, Joe Biden’s “emergency” vaccine mandate will be implemented by January 4th. That’s right, it’s such an “emergency” that it can wait until after the new year. I think that’s what the Democrats call “science.” Regardless of when it happens, one thing is for certain, the mandates will affect many people. We’ve already seen it happening with the airlines, where AA and Southwest had to cancel thousands of flights, reportedly because of employees rebelling against the mandates by calling in with the “freedom flu.” Of course, the media and the airlines tried to play it off like it was the “weather,” but the American people are not idiots.
Now, another group is stepping forward to send a warning to Americans. A group of anonymous people claiming to be “Procter and Gamble” employees have created a video to warn Americans how bad things will probably get after Biden’s mandates take effect.
This video lays out what will probably happen to the already weakened supply chain, and this info coincides with a recent report from Trucking companies that claim they won’t be able to move nearly as many goods and supplies once the mandates hit.
Last Friday morning, Statistics Canada greeted the country with a monthly employment report that, by any reasonable assessment, was good news.
Jobs increased by a modest but healthy 31,000 in October, adding to September’s surge of 157,000 jobs. The unemployment rate fell to 6.7 per cent, the lowest since the pandemic began. Full-time employment accounted for all the gains. Private-sector hiring rose by 70,000. Hours worked were up. Wages were up.
But to hear the Conservative opposition’s spin, this was all very bad news indeed. It was smoking-gun evidence of economic mismanagement at its worst.
Ontario is planning to establish a housing affordability task force, as both prices and the number of home sales have grown in the past year, though it’s a pledge the opposition parties dismiss as meaningless.
“So, according to AAA, the national average of gas prices is now $3.42 a gallon. Bank of America is predicting crude oil prices could soar another 50 percent by next June,” CNN host Dana Bash said. “Could the average gas price in America be $4 a gallon in the United States soon?”
“Well, we certainly hope not,” Granholm responded. “As I say, the Energy Information Agency is going to put out their forecast this week.”
“The president is all over this,” she claimed.
Damn right he is. Let’s Go Brandon!
Bank of Canada governor Tiff Macklem says inflation may be around longer than anticipated.
“I think transitory to economists, means sort of not permanent,” said Macklem in an interview with CTV’s Question Period with Evan Solomon, airing Sunday. “I think to a lot of people, transitory means it’s going to be over quickly and maybe I don’t know exactly what the right word is, but it’s probably something like you know, transitory but not short-lived.”
The lived experience of Canadians clashes significantly with what government institutions claim.
Inflation has increasingly become the top political and economic issue of our time.
In large part, this is because inflation is the weapon governments are wielding against their own citizens, in an effort to get people to slowly accept a lower standard of living.
Since the beginning of 2021, inflation has skyrocketed from 1.4% to 5.4%, pinching families attempting to pay for gasoline, food, and other essentials. Though wages are increasing, price levels are increasing faster — causing households to lose purchasing power.
The energy wealth of Alberta has made possible the construction of countless schools, hospitals, roads, and much more across our nation. Why is that being ignored?
U.S. crude oil surpassed $80 per barrel while the lead foreign index broke $81 per barrel, both rising more than 1.5% compared to one day earlier, on Friday morning, according to the latest data. The Middle Eastern cartel Organization of the Petroleum Exporting Countries and its Russian counterpart, collectively known as OPEC+, rebuked the Biden administration Thursday and chose not to alter previously announced plans.
Florida Governor Ron DeSantis: "A recession is when your neighbor loses his job, a depression is when you lose yours, a recovery is when Dr. Fauci loses his." pic.twitter.com/tNTeoyRFG9
— Breaking911 (@Breaking911) November 3, 2021
Opposition parties say the federal government should use the current snarl in global supply chains to rethink the country’s reliance on foreign suppliers.
Conservative critic Ed Fast says the Trudeau Liberals should prioritize investments in trade corridors and ports to improve the movement of goods through and out of the country.
