The Liberals are purposely seeking to make life less and less affordable.
The official inflation rate in Canada is now 7.7%.
That’s the highest since 1983.
‘Core inflation’ rose 4.73%, the highest since 1990.
Economists had predicted a 7.3% rate, already would have been a big increase from the previous 6.8% level.
Instead, inflation jumped nearly a full percentage point, largely due to surging gas prices.
Gas price surge
In a one-month period, gas prices were up a whopping 12%.
Year-over-year, gas prices are up 48%.
Food prices are up 8.8% year-over-year.
The cost of services rose 5.2%.
Wages aren’t keeping up
As we know, wages only have meaning relative to prices.
If your wage was cut 50% but prices went down 90%, your purchasing power would be vastly increased.
Similarly, if wages go up but prices go up even more, you become poorer.
And that’s exactly what’s happening.
Wages are rising at about half the rate of inflation, so Canadians are falling further and further behind.
This is why inflation is the ‘hidden tax.’ You don’t see your wages declining, but in real terms your wages are being cut every month.
This is the disastrous impact of what the Liberals and Bank of Canada have done.
Liberals refuse to take easy actions to reduce inflation
While the Liberals keep claiming inflation is a “global problem”, they refuse to take simple actions that could ease the pressure on Canadians.
For example, Pierre Poilievre has called on the Liberals to cancel the gas tax. The Biden Administration is calling for the same thing in the US. That would provide immediate relief to consumers.
Yet, Trudeau refuses to do so.
Trudeau also refuses to eliminate the carbon tax.
As we know, the carbon tax is a deliberately inflationary policy, designed to make life more and more expensive every year.
Scrapping it would make a big difference and would help bring down prices.
By refusing to take those actions, Trudeau only further confirms that the Liberal government is deliberately making your life less and less affordable.
They want high inflation and they want to take more and more of your money.
Canadians must realize this.
The government is not on our side.
The government is acting against your financial interests and wants to make you poorer so they have more power and control over you.
And, having been enabled by the Bank of Canada, a widening array of Canada’s institutions are complicit in the economic pain being inflicted on Canadians.
Spencer Fernando
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