Quote:
Originally Posted by Dean2
I am glad I am heading out hunting for two weeks on Friday. Watching the gaggle of lying government MOFOs, from bank of Canada, to Freeland has got to the point where it is as bad as watching coverage of Covid. The fact that everyone knows they are lying through their teeth, and none of the mainstream media is calling them on it, is even worse. Inflation is ramping up, it is not transitory and the supply chain issues are not improving.
We already have 40% of Canadians saying they are having trouble covering their grocery bills. Over the winter this is going to get worse, and they are going to have rising costs of heat, electricity, gasoline, higher interest on their loans/mortgages and added inflation on everything else piled on top. Trudeau and his village of idiots is working very hard to makes Canada into another Venezuela.
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I think a lot of folks a feeling the same frustrations. I’m outta here too after Friday for a week or so. Go live in the wall tent and try and kill something with a buddy I haven’t seen for a long time, sheep hunting brother who helped me kill my first ram. Unplug and try and figure out how to keep ahead of these markets, or at least not get run over to badly lol. After that, back to the salt mine for a bit.
TC
Thinking about the BOC Timbit today. Main takeaway is the market is dictating their actions. The forward guidance for a rate hike was bumped up by half a year. Hmm. They are getting scared of inflation. It’s no longer transitory but they expect it to subside after all the bottle necks get worked out. But hey, they have all the tools to stamp it out… via higher interest rates.
Yay, higher rates. Higher rent, higher car payments, higher mortgage payments. Higher costs for inputs into food, manufactured goods, services, yay. Higher wages yeah, not for most folks. So if you don’t get at least a 5% raise this year you are getting a pay cut. Or I should say if you are not bringing home an extra 5% after tax you are getting a pay cut. And, big AND, that is if you believe the Governments measure of CPI. If you are one of the governing elite running this country into the ground, the change in the CPI doesn’t matter though. Inflation doesn’t really affect you...at least not in the way it effects the average citizen.
Watching the statement/question and answer after the announcement a few things stood out. The first was the surprise that they were puzzled by the labour issues. Really? He must be lying or kidding.
The second was an answer to a question posed and his take on the drastic increase in the money supply and what he said about QE. I think he believes that CB’s and the government’s printing and spending has no bearing on the rate of inflation in a country like Canada. A country that holds zero gold as foreign reserves, that is eagerly trying to destroy one of its greatest industries and millions of jobs and businesses in the name of the climate cult. A country led by a government that loves spending to stay in power. He is a full on MMT guy. Only good thing I guess is that the United States is our best bud and are on the same path.