The average cost of a litre of gas in Ontario will set a new record on Friday, and at least one industry analyst is warning that “it is going to get a lot more painful for drivers” over the coming weeks.
Economy
Inflation Erodes Our Freedom
Devaluing our money benefits the government at our expense, narrowing our opportunities and limiting our choices.
Ontario Liberals promise to cut all transit fares to $1 until 2024
The Ontario Liberals say that if they form government after the June 2 election they would make all public transit fares $1 until 2024.
The party says the fare reduction would apply to “every transit system in Ontario,” including all municipal services, as well as GO Transit and Ontario Northland.
The Liberals are dubbing their plan “buck-a-ride,” a reference to a popular part of Progressive Conservative Leader Doug Ford’s 2018 platform to offer “buck-a-beer.”
Ford Reports Devastating Losses Thanks To Electric Vehicle Gamble
Ford reported revenue of $34.5 billion between January and March, a 5% decline relative to the same period in 2021, and a net loss of $3.1 billion, according to the company’s earnings report released Wednesday. The Detroit automaker said its large investment in Rivian accounted for $5.4 billion in losses during the first quarter.
63% of Canadian non-owners have ‘given up’ on ever buying a home
“As housing prices rise, inflation continues and interest rates go up… we can see that there’s a bunch of Canadians who have kind of given up on the idea of home ownership,” says Gregory Jack, vice-president of public affairs at Ipsos.
Those sentiments are highest in British Columbia (74 per cent), Quebec (72 per cent) and Ontario (62 per cent), but lowest in the Prairies and Atlantic Canada, the polling shows.
Economic and Trade Impacts of China’s Lockdowns, Experts Weigh in on China’s Food Security, Belt and Road and Five-Year Plan Monitor
“China re-emphasized the need for food security at the recently concluded Two Sessions. Rural revitalization to ensure agricultural supply, winter wheat support and development of a food security law were announced as priorities. How do you see this push playing out over the next few years? What opportunities and challenges should Canadian exporters watch for?”
Municipal politicians continue their war to keep housing prices high
Canada’s municipal politicians have spent a generation blocking the construction of new homes, contributing to a catastrophic housing shortage that has rendered homeownership unaffordable for many Canadians. There has been growing political momentum to disempower municipal politicians so they can stop sabotaging younger Canadians’ futures — but these politicians are now fighting back, eager to protect the powers that they have so irresponsibly abused.
Biden’s America: Gas Prices Predicted to Spike Back Up Yet Again
President Biden has refused to take responsibility for the bad policies, such as essentially stifling U.S. energy production, that have contributed to the skyrocketing gas prices over the course of his presidency. Instead, he has remained defiant, contending that loosening restrictions on domestic energy will not lower energy prices for American families. Rather, he has pitched electric vehicles as a way out of the dire situation, which has forced some Americans to resort to cutting back on groceries to fill up their gas tanks.
31% of Canadians don’t earn enough to pay their bills: Survey
Thirty-one per cent of respondents to an Ipsos survey conducted for MNP said they don’t earn enough to cover bills and debt payments, and almost half of all respondents (49 per cent) said they are within $200 of insolvency.
Majority of Canadians seeing inflation outpace wage growth
New analysis shows that a majority of Canadians are seeing diminishing incomes due to inflation levels that are higher than their wage gains.
According to the Canadian Centre for Policy Alternatives (CCPA), wages rose by only 2.7% over the past two years, while inflation grew by 3.4% annually.
Trudeau’s crackdown on real-estate investors won’t work. Here’s why.
Justin Trudeau’s government snagged the headlines it wanted last week when it was widely reported the budget would impose a temporary ban on foreign investors snapping up more of Canada’s over-priced real-estate.
The headlines made the federal Liberals look aggressive, and even a bit patriotic, in their apparent determination to combat offshore speculation in Canadian housing.
But the government’s legislative moves were as vacuous as Finance Minister Chrystia Freeland’s trendy-sounding rhetoric this week, when she said the inability of young Canadians to afford a home today is an “intergenerational injustice.” That’s before she reverted to industry platitudes about building more supply.
Why inflation will worsen
The same people who told you that a multitrillion-dollar cash infusion into the economy wouldn’t cause inflation and then said that inflation would prove transitory have now made another bold prediction. The worst inflation in more than 40 years, say the people paid to be routinely and offensively wrong about everything in the economy, is at its peak.
‘Consumers Lose’: Biden’s Ethanol Gambit Will Send Food Prices Soaring, Critics Say
- Corn prices, and therefore meat prices, are expected to surge amid the global food shortage following President Joe Biden’s latest attempt to ease gasoline prices, according to industry groups and experts.
- “It certainly would be expected to drive up food prices and it will likely hurt meat producers because they rely on the feed,” Heritage Foundation senior research fellow Daren Bakst told the Daily Caller News Foundation in an interview.
- “Further and artificial demand for corn created by this administration will likely increase the cost of corn and all food products dependent on corn and corn oil inputs,” National Chicken Council President Mike Brown told the DCNF.
Idiot Who Thinks We’re Idiots
BIDEN: “What people don’t know is that 70% of the increase in inflation was the consequence of Putin’s Price Hike.” pic.twitter.com/oUsryQ3wk8
— Breaking911 (@Breaking911) April 14, 2022