Justin Trudeau Dumb and Dumber

Justin Trudeau Dumb and Dumber

Bank of Canada Needs To Keep Raising Interest Rates: Pensions, welfare, and tax policy encourage the elderly to retire early or many young or middle-aged workers not to work at all – August 11, 2022,

 

 
The Financial articles in Canada tend to be ignored because the average Canadian doesn’t have any financial education and would rather ignore data they don’t understand. What this means is that in the minds of many, they’re doing a rain dance in hopes Canada is not plagued with financial problems that plague other countries.

It’s no secret that Canada’s welfare State is UNSUSTAINABLE! But how do you sell a voter on an economic catastrophe that hasn’t officially happened yet? Well, first, you have to soften them up to the idea that maybe the politicians in charge of running your country are indeed as dumb as they look. If you’re a person paying attention, you’d know quite easily that Justin Trudeau has no idea what he’s doing to the economy.

If you’re like me, you’d know that Democracy has a history of destroying great nations; Canada’s Democracy was actually in pretty good shape until the New Democratic Party(NDP) made Jagmeet Singh their leader. Jagmeet, with his balance of power, is supporting the most corrupt government in Canadian history, and I point this out because Canadians had the option to vote for Justin Trudeau but instead cast their ballots for Jagmeet, who wound up trashing their vote to form an alliance with the Liberals.

Canada, as I’ve been pointing out for years now, has been a Left-Leaning country for a long time, so much so that when you listen to a lot of people in the Conservative Party o Canada, they’re very contradictory. The current frontrunner to be the leader of the Conservative Party, Pierre Poilievre, fully supports our communist supply management system, and Pierre’s entire schtick revolves around fiscal responsibility and making Canada the FREEST nation on earth?

Now, obviously, Pierre Poilievre knows better, but he takes this position on supply management because otherwise he’ll LOSE the Quebec vote, and although Pierre Poilievre could cruise to victory if becoming Prime Minister in Canada revolved around the POPULAR Vote, it doesn’t. Justin Trudeau won his last two elections by winning in the Greater Toronto Area as well as key seats in Quebec.

Being that the Province of Quebec is reliant on Canada’s transfer payments to keep their PUBLIC sector solvent, yes, you could see a Red Wave of Liberal support in Quebec if residents fear a Conservative Federal government will strip them of their unearned benefits. The immorality in Canada is cloaked with Politeness, but Canada has been an immoral country since Pierre Trudeau convinced Canadians that Big Government was the only answer.

So below, you have Canadian writers trying to use Canadian job statistics to warn Canadians about an inevitable and potentially PERPETUAL recession. I don’t care what any Austrian Economist says, the wealth effect does work until doesn’t, and this is why it’s going to be a shocker to many Canadians how quickly they begin losing public services they imagined were permanent fixtures in Canadian life.

The article below points to a lot of data, but what stood out to me was Canada’s WELFARE State, which does include PENSIONS. I remember discussing with a Canada Post employee who was angry when I said Canada Post needs to end his ridiculous pension, which has nothing to do with the stock market and everything to do with a government guarantee that when it goes bankrupt, Canada Post is going to come begging to the Federal Government to give them a bailout.

I told the Canada Post individual that he’d better hope once this happens, inflation isn’t running rampant because, in most underdeveloped nations, that’s how most people find out their pension is WORTHLESS. If let’s say your fixed pension pays you $3000 per month, but because of Justin Trudeau’s, but war on fossil fuels, the cost of living starts to rise, while Canada Post revenue starts to dwindle because one thing about consumer price inflation is that it makes consumers change their behavior.

I’ve been arguing for years now that Canada Post would be wise to focus on their PARCEL delivery services because Parcel Delivery in Canada is far more competitive since Amazon arrived. UPS gave up on Postal delivery a long time ago, and a lot of things I get delivered to me come from UPS or Amazon. Why I say this is because I told the Canada Post employee who told me that he paid 40 years into his pension that $500 x 12 x 40 = $240,000. Now I was being generous when I used $500 per month being contributed to his Canada Post pension, I don’t remember the number he used, but I assume he wasn’t paying more than $500 per month towards his pension.

I can even say he contributed $1000 per month towards his pension; it is still only $480,000. How long could a person live on $480,000 especially has the cost of living rises? Now even on Canada Post’s own website, they reported a loss of $129 million in the last quarter.

Canada Post segment reports $129-million loss before tax for first quarter | Canada post (May 27, 2022)
Revenue decline in Parcels business was significant compared to high revenues in the first quarter last year, when stores were closed

At the very least, Canada Post retirees contributed some sort of labor to this country; I haven’t even touched on WELFARE. Canada has millions of people who can’t pay their bills without a handout from the government, and in order to get re-elected, it’s hard to believe the data coming from the Canadian government. I no longer trust Statistics Canada; this doesn’t mean you shouldn’t; I’m just saying I don’t trust Stats Canada.

A new term is being used “jobful recession” why? Because the data doesn’t make any sense. Now, I’ve offered my reasoning as to why numbers can be manipulated, and I’ve stated the same thing several times; whether you like it or not, the CONFIDENCE in the Canadian dollar is still quite high. The Foreign exchange markets and for good reason, give Canada the benefit of the doubt, and this is why as Canada becomes INCREASINGLY dependent on IMPORTS, Canada hasn’t seen a steep decline in our standard of living.

But if you pay close attention, you’ll notice that DOMESTIC prices in Canada are rising and employment losses are happening in key areas while job gains are happening in areas of the economy that don’t make our lives as Canadians any better.

Jack Mintz: Labour shortages won’t stop, even after the ‘jobful recession’ | financialpost.com
The largest employment losses since April have been concentrated in key sectors: manufacturing (10,000), natural resources (9,000), trade (50,000), education (8000), health care and social assistance (34,000). Don’t worry folks — public administration has expanded by another 23,000 jobs.

So the article written by Jack Mintz: at the Financial Post is giving you all the evidence you need to prepare for the coming economic collapse, but if you don’t understand how to interpret the data, or if you think the data provided isn’t important, well that’s why it will be hard for you to understand why I claim that austerity measures are the only way out of this mess.

Will the Bank of Canada do its part and keep raising rates as a warning sign to Justin Trudeau to get his act together, or is the Bond Market indeed correct in its assumption that rates are going to come right back down again once it becomes evident that the problem is getting worse? I have no answer to that question.

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In my opinion, it’s a shame Central Banks have this much power because if let’s say, oil prices retreat TEMPORARILY, Justin Trudeau can claim victory over inflation and continue to overly regulate the Canadian economy, incentivizing more Canadians to pick government welfare over finding a job. As I’ve pointed out in prior posts, Western nations have handed OPEC+ countries a lot of power with green agendas.

Because there’s still an oil market, OPEC+ producing nations, when they notice an economic downturn, will have to adjust their SUPPLY MANAGEMENT levels, which means that consumers might experience a lower oil price, because OPEC+ nations pumped more oil than the market wanted, and this is why when politicians claim a premature victory over consumer price inflation, which could lead to Justin Trudeau becoming even more aggressive on his climate change agenda, Do you see how this works?

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Because if you don’t understand how important a role the Bank of Canada will play moving forward, you’re going to be confused when what I’m writing about in this post starts to happen. There shouldn’t be a central bank because the market would have exposed Justin Trudeau’s malinvestments years ago, meaning that instead of the Bank of Canada buying up all of Trudeau’s bad debts, Trudeau would have had to go to the markets to finance his “investments” for the Canadian economy.

Now, if Trudeau had to find buyers for his silly spending ideas, he would have had to pay a much higher rate of interest than the Bank of Canada offers. So here we are now, stuck in a position in which the Bank of Canada has all of this power? Let’s be clear the Bank of Canada is indeed in a position to EXPOSE the stupidity of Justin Trudeau’s ideas, but it can opt to hide the Prime mInister’s stupidity by lower interest rates.

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The main reason Canada is in this mess is that interest rates are still TOO LOW! Artificially low-interest rates FUEL wasteful spending, personally and publically! You’d be wise to consider reading the article below because it’s giving you a warning of things to come!

Jack Mintz: Labour shortages won’t stop, even after the ‘jobful recession’ | financialpost.com

Interesting times ahead!