More And More Canadians Cutting Back On Essentials Amid Surging Inflation

Canadians are paying the price for the disastrous policies of the Liberals.

Inflation continues to hit Canadians hard.

According to a new MNP Consumer Debt Index survey, Canadians are increasingly cutting back even on necessities.

“Twenty-seven per cent of respondents said they’ve cut back on essentials, while 37 per cent said they’ve chosen to buy cheaper versions of their everyday purchases, the data showed. Nearly half (46 per cent) have cut back on non-essential items, including travelling, dining out and entertainment.

Six in ten reported they were already feeling the impact of higher interest rates – a seven-point jump in the index compared to last quarter. The survey was conducted by Ipsos on behalf of MNP LTD.”

Given that “essentials” are by definition things that people need, the fact that over a quarter of Canadians are cutting back demonstrates the significant damage that has been done to the economy.

While few in the media report it this way – since the government likes to hide the true impact of inflation – inflation really must be understood as our purchasing power being stolen from us.

This happens in two ways, by our money losing value, and by government policy deliberately driving up prices.

The value of our money is going down because the Bank of Canada – enabling the Liberal agenda – diluted our money by ‘printing’ it in vast quantities.

And prices are going up because lockdowns/restrictions distorted and unbalanced the complex interactions that form our economic system, and because Liberal carbon tax hikes and other regulatory measures are pushing up costs.

In effect, Canada’s institutions are purposely robbing you of your purchasing power, all while pretending to be concerned about the inflation they caused.

This is causing significant, real-world damage to Canadians.

If people are now forced to cut back on essentials, it means that the system is breaking down.

An inability to afford essentials is the path to poverty, and that is the path the Liberal government has put us on.

After all, when the Liberals talk about Canada adhering to their ‘climate agenda,’ what they really mean is that Canadians will have fewer financial resources, and will be unable to afford our current lifestyles.

It’s the “you’ll own nothing and be happy” attitude, except people obviously won’t be happy with that state of affairs.

This heightens the importance of the next federal election – especially if Pierre Poilievre becomes CPC leader – because it means that Canadians will be facing a stark choice between Trudeau’s agenda of deliberately impoverishing Canadians, or the traditional idea that we should be free to better our lives and become richer.

It’s the starkest choice Canadians have faced in generations.

Spencer Fernando

Photo – YouTube

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