The Inflation rate remains relatively high at 5.2% but it has declined reasonably since the interest rates began to rock and roll upwards.
Will the decision be made to raise rates further or drop them? I believe the rates will stay where they are or go up a further point. America will be increasing its rates in an effort to quell its own inflation, and our government will follow suit as usual. A Federal election may well be announced once the inflation rate in Canada has halved itself. Interest rates will be allowed to decline and the public will show their support for the Liberals in kind.
More importantly, why are prices still extremely high while inflation continues to drop? Greed and Shrinkflation of course. Any manufacturer knows the marketplace in Canada and the US has rebounded since mid-summer 2022. Supply chain problems aside, the decline of needed products that once were earmarked for North American Markets have been redirected to China and Indian needs. This is deliberate of course, allowing those manufacturers in Asian Markets to demand higher prices. Products within the retail sector have gone up in price or the price remains the same while the product has been reduced in size. After 2020-2021, most retailers did increase their prices and realized that our markets still were prepared to purchase what was needed, so they will retain their higher prices until forced to change their pricing structure in the near future.
Has this increase in slowing the economy work? North America’s Economy has been booming since mid-summer 2022. Growth rates in the US show promise, and Canada’s Economy has benefited from the boom to the south. America’s President Biden continues to sell its America First purchasing policy putting Canada’s Liberal Government into a fear fest spin. Trump’s “make America great again has been followed by Biden’s purchase American 1st”. Federal Agencies must purchase American manufactured products and services 1st, before giving foreign firms a chance to bid. Canada’s begun to apply taxes on various products in an effort to pay down their massive public debt. Beer and most forms of booze and other items that fall into the luxury tax sector are being targeted.
Have you noticed that most media outlets have refused to offer an attitude of clarity with regard to higher prices and inflation? Why are prices so high? Most so-called specialists claim various reasons why, while others insist grocers are not making loads of money, surviving on a 2-4% profit margin.
Would it not be nice to see a media broadcaster or journalist come out with something like this…
“The Public is being taken for a ride by basically everyone within the retail-manufacturing sectors”
“It’s greed baby, with a side of massive profiteering”.
Canadian and US Corporations are taking our funds to the bank, and we are letting them do so. The public continues to buy what they want on credit while complaining all the more. And did our government demand that essential items needed by the public be made locally, and not imported from some distant land? Words with no follow-up, propaganda with no real power behind them. Instead of going after the wayward profiteering firms, our governments are canceling funding programs for the businesses most damaged by the pandemic(restaurants and Mom & Pop Stores) and also pursuing some individuals that asked for CERB. Governments are and will continue to create new taxes and tax us, while they let the wealthy hide their fortunes in banking centers throughout the world. The government is so comfortable that it will pursue a policy of taxation that strikes at the most vulnerable, our elderly, who also have within their bank accounts @ 3.2 trillion Canadian and much more in America. The average Canadian Boomer is worth @$206,000 and the government and many corporations want some of that.
Like Premier Ford said last year…Ontario is back in business. So to the taxation hikes to come.
Why do our governments allow corporations to blind us with advertising propaganda while their hands are in our pockets, robbing us blind? The very basics of foodstuff, energy demands, and housing needs are pushing many towards a credit crisis never seen before. If the public fails, so do their public governments.
Steven Kaszab
Bradford, Ontario
skaszab@yahoo.ca
