Bankruptcies in Canada during Zero Interest Rate Policy: The number of seniors seeking help with debt in Canada is rising dramatically, as Justin Trudeau’s Carbon Tax inflation destroys lives – February 11, 2022,
Justin Trudeau continues to destroy lives in Canada, and I thought Trudeau made a huge mistake winning the 2021 election, I was on Trudeau’s side, I cheer-led for Erin O’Toole to win the election because I predicted 2022 would be a tough year for Trudeau because Donald Trump was no longer in the White House and Joe Biden is just as dumb if not dumber than Justin Trudeau is.
Who cares if you liked Donald Trump, Donald Trump was a businessman in his prior life and what makes business people different from Drama teachers and career politicians is that business people fully comprehend the purpose of why keeping the cost of doing business down creates a strong vibrant economy. Neither Justin Trudeau nor Joe Biden understands why raising costs equates to rampant and out-of-control inflation.
This is extremely problematic because Justin Trudeau as an example has a carbon tax, which makes the cost of energy artificially high, now Trudeau’s idiotic government will try to tell you that you’re getting a tax credit at the end of the year, but, that’s of little benefit to you if the cost of almost EVERYTHING you buy is going up. Is the tax benefit going to compensate you for all the inflation you’re experiencing as a consumer? it’s not like you send the government, the higher cost you’re paying for food and everything else at the end of the year.
Anyway, higher prices tend to equate to ECONOMIC DEFLATION, meaning that if it’s costing you more money to buy less, the numbers for the government look good, but the economic activity is going to slow down. Meaning that I suspect Justin Trudeau might be able to brag about certain economic indicators, but debt services costs for regular Canadians is going to become increasingly more difficult because it will cost Canadians more Canadian dollars to purchase fewer goods and services.
This has bankruptcy written all over it, and insolvencies during a Zero interest rate policy environment sounds like price controls, shortages, and the real potential for hyperinflation in my mind. Now, can things really get this bad in Canada? I don’t know, my mind won’t allow me to go there, I still believe that austerity measures are coming, but again I don’t know, I can’t say for sure, I’m not in charge, what I do know is that when I read about seniors seeking help I know this is a huge problem because seniors are on FIXED incomes!
Interesting times ahead!