Almost one month removed from the most disturbingly authoritarian moment in Canadian history, the Trudeau-Singh Emergencies Act, and there was only one asset that the Canadian government could not get its hands on – Bitcoin.
Economy
Canadians cutting back spending as inflation keeps skyrocketing: poll
According to the poll, the majority of Canadians think the cost of living will continue to go up. It also showed that 86% of respondents say they believe inflation will increase, while 84% expect gas prices to rise.
Canadian Inflation Continues to Surprise Bank of Canada Forecasts, Merits Faster Tightening
Canadian inflation continues to surpass the Bank of Canada’s expectations and that likely amplifies the risk of a 50bps or larger hike at the April meeting. Momentum and breadth are both very high with further pressure ahead as Canadian monetary policy is far behind the curve.
As Inflation Surges, The Time To Scrap The Carbon Tax Is Now
On April 1, 2022, the carbon tax is set to rise from $40 a tonne to $50 a tonne.
The increase will take place amid surging inflation.
Looming strike by CP Rail workers could cripple supply chain
An imminent strike by unionized rail workers and CP Rail could sever parts of Canada’s already weakened supply chain as well as severely impact this year’s growing season for farmers across North America.
Nancy Pelosi claims more government spending is ‘reducing the national debt’
House Speaker Nancy Pelosi defied basic economics on Friday, claiming that increased government spending is “reducing national debt” — not contributing to the economic crisis.
You Do Realize She’s Quite Mad?
PELOSI: "When we're having this discussion, it's important to dispel some of those who say, well it's the government spending. No, it isn't. The government spending is doing the exact reverse, reducing the national debt. It is not inflationary." pic.twitter.com/petrpksVgO
— Breaking911 (@Breaking911) March 13, 2022
Tucker Carlson: Vladimir Putin Is ‘Not Why You Can’t Afford to Fill Your Tank’
Friday, FNC host Tucker Carlson criticized the Biden administration for economic policies that have led to rampant inflation.
Carlson said while “bad,” the Russian invasion of Ukraine was not why gas prices were as high as they were, despite what White House press secretary Jen Psaki had said.
Biden’s Gas Prices Are The ‘Unity’ President’s Latest Way To Force You To Do What He Says
The president and his administration are bizarrely blaming Russian President Vladimir Putin for the high prices, which have been rising ever since Biden took office. Even worse, they’re suggesting the best way for you not to have to worry about the high prices at the pump is to buy an electric car.
Elizabeth Warren Says the Solution to High Gas Prices Is Higher Taxes on Oil Companies
“Putin’s war is causing gas prices to rise, but this is no excuse for large oil companies to pad their bottom line with war-fueled profits,” tweeted Sen. Elizabeth Warren (D–Mass.) along with an MSNBC video of her explaining her stance. “Senate Democrats are watching closely—and already working on a windfall profits tax.” Warren also said that she gets “supply and demand—that prices go up” but that “profit margins should not go up, that’s just oil companies gouging.”
We Used to Be Energy Independent: What Happened?
While responding to reporters about Russia’s incursion into Ukraine two weeks ago, President Biden committed that his administration was using every tool at its disposal to protect American businesses and consumers from rising prices at the gas pump. “I will do everything in my power to limit the pain that the American people are feeling at the gas pump.”
The receipts on this are EXPANSIVE and media can either carry White House propaganda or consider the actions they’ve taken to drive these prices up well before this crisis took off. pic.twitter.com/qcc8XuFZkM
— Matt Whitlock (@mattdizwhitlock) March 9, 2022
Ukraine war adding massive costs for farmers – and consumers are about to feel it too
As Russia‘s invasion of Ukraine drives consumer prices higher globally, Canadian farmers are feeling the sticker shock, too, as they incur massive costs to continue running their operations and ensure grocery store shelves remain stocked.
Following social media pressure, McDonald’s joins companies suspending business in Russia
On Tuesday, McDonald’s announced in a statement that it will temporarily close its more than 800 restaurants and pause all operations in Russia. The U.S.-based chain said it will continue to pay salaries of the 62,000 Russian employees who will be affected by the closure.
Ford needs to take a lesson from Alberta and cut gas taxes now
Ontario premier Doug Ford is sitting on his hands while Alberta premier Jason Kenney is delivering relief for taxpayers.
Earlier this week, Kenney announced his government would cut provincial gas taxes by 13 cents per litre in the face of skyrocketing oil prices. For a family filling up their minivan, Kenney’s tax cut means nearly $10 of savings at the pumps on every fill-up.