An astounding level of incompetence.
When we consider who is best suited to hold power in a nation, and to better inform our choices during an election, it makes sense to look at who was correct about impending events, and who was completely wrong.
For Canadians, the biggest issue we face on a daily basis is the surging cost-of-living.
Month after month, inflation has risen faster than wages, which means Canadians are getting poorer.
This has put Canada in a very difficult situation, because our economy has become so debt-dependent in the face of higher taxes and policies that weaken productivity.
To get inflation in check, a country can either increase production of desired items – thus increasing the ratio of products compared to each monetary unit – or it can raise interest rates to weaken demand and incentivize saving.
Since the first option is negated by heavy-handed government policy, Canada must opt for the second.
For the many Canadians struggling with a huge debt burden however, that is a serious problem.
And so, the Conservatives had long been discussing the concern Canadians had regarding interest rate hikes before rates were raised.
What did the Liberals do at the time?
They completely dismissed those warnings.
Top government officials said rising interest rates were not a concern, and said Canada could keep on borrowing because rates were low and would remain so.
Understandably, many Canadians heard those words from the government felt that it was safe to accrue more debt.
But it turns out that the Conservative warnings were right, and the Liberals were wrong, as you can see in the video below:
interesting string on clips. pic.twitter.com/OjSoQETnfC
— daniel de melis (@d_demelis) January 26, 2023
Interest rates have now been raised eight consecutive times, and many Canadians are struggling amid higher prices and higher debt-servicing costs.
Canadians should keep this in mind in the upcoming election – whenever it takes place.
Shouldn’t we want to elect those who got things right as opposed to keeping an incompetent government in power?
Spencer Fernando
Photo – Twitter
