Justin Trudeau’s Policies – Enabled By The Bank Of Canada – Are Crushing The Canadian Dream

A look at the numbers demonstrates how severe the damage has been.

One of the things we have long taken for granted is that life will be better for each successive generation.

Technological advancement and relative peace in our part of the world has made that possible, and it’s natural to assume that will keep on going.

Yet, there are some core principles that provide the foundation for that kind of material progress.

In order for prosperity to continue and broaden, a nation must be fiscally responsible, its people must be free, and its money must be sound.

When that ceases to be the case, a country can appear to be fine for a while, as it lives off the accumulated wealth of the past.

But that can only go on for so long.

Sooner or later, no matter how much money a government spends, and no matter how much a central bank distorts the market and devalues the currency, it becomes impossible to maintain the illusion that “everything is fine.”

The true cost of Trudeau’s policies

Take a look at the graphic below, from Kris Sims of the Canadian Taxpayers Federation:

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That is the true cost of Justin Trudeau’s policies.

Remember, he was handed a balanced budget and a stable economy when he took power.

He promised to run three ‘small’ deficits, and campaigned on lowering the cost-of-living.

One of Trudeau’s most effective ads in the 2015 campaign was when he walked up a ‘down’ escalator, visually demonstrating the idea of Canadians feeling like they were working harder and harder but not getting ahead.

Well now, many Canadians feel like they’re on a free-falling elevator, as the cost-of-living surges so rapidly that being stuck in place would be highly preferable.

Bank of Canada enabling

One of the reasons that Pierre Poilievre’s criticism of the Bank of Canada resonates with so many Canadians is that the Bank of Canada has enabled Justin Trudeau’s policies.

By financing his deficits, the Bank of Canada has made it easier for Trudeau to spend more and more money, while passing the cost and the pain onto Canadians by debasing our currency.

“I mean the Bank of Canada has absorbed nearly 85% of all new Government debt issuance since 2019. Let’s not pretend they are not a political entity.”

The federal government loves this, since it masks the true damage being done to the economy as people are likely to incorrectly blame inflation on the private sector than direct blame where it actually belongs – the government and Bank of Canada.

This is also why the establishment is so enraged by Poilievre’s criticism of the Bank of Canada, because he is educating more and more people about what is really going on in this country, and not allowing the elites to hide what they’ve done.

Crushing the Canadian Dream

The Canadian Dream, the idea that we would continue moving towards a more prosperous future for ourselves and future generations, is being crushed by the inflationary big government policies of the Trudeau government and Bank of Canada.

Only by reversing those policies, returning to fiscal responsibility, emphasizing individual freedom, and embracing sound money will Canada be able to turn things around.

Spencer Fernando

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