Inflation Clearly Is Not Going To Be TRANSITORY: Ontario Canada minimum wage will be increasing to $15 per hour in January 2022 up from $14.35 – November 2, 2021

If you’re reading this, contact your financial advisor, because it appears inflation WILL NOT BE TRANSITORY. PROGRESSIVE Conservative Premier of Ontario Doug Ford apparently will be making it illegal for private employers to pay wage earners in Ontario less than $15 per hour. Oddly enough this goes back to Liberal Kathleen Wynne. I suspect the NDP will have to step aside in the coming election, because the Liberal Party of Ontario, will easily be able to say “I told you so”.

So, I’m personally for ABOLISHING the minimum wage law, but the reality of the situation is that the Bank of Canada, is artificially suppressing interest rates, even though the Bank of Canada claims it will raise rates, these rate hikes will probably be a few basis points, I can’t imagine interest rates shooting up 12% where they should be to get rid of all this bloated government and mal-investment in the Canadian economy.

I’ve often stated that it wouldn’t surprise me if austerity measures happened while Liberals were in power. Conservative politicians in this country are SPINELESS! Anyway, I assume Doug Ford imagines this raising of the minimum wage will make him popular? Because this isn’t much of an increase from $14.35. I actually think this is going to fuel resentment, why he’d make an announcement for this is beyond my comprehension.

Left Wingers are greedy, they’re going to soon be demanding $20 per hour, after all, it’s not like it’s their money or their business, why should they care?The idiot Left-Wing politicians, as well as the public education system in this country, have brainwashed our kids with Socialism and Keynesian economics, why shouldn’t they imagine wealth is created from the government. I listen to Right-Wing media and they always ask the question, why don’t Businesses support Right-Wing Political Candidates? Hello… $15 minimum wage-Conservative Premier. Doug Ford is looking to save his political career and make sure the PCs win the next election.

From a political standpoint, I don’t blame Doug Ford, Canadians might be surprised to learn that Florida will have a $15 minimum wage by 2026, but America doesn’t have the same transfer payments system we have here in Canada. You see in Canada when the Federal Government and the Bank of Canada unite, the entire country gets stuck paying the bill, that’s not the case in America.

In America, the cost of living per state varies and if your State governor is a financial moron, the State suffers not the entire country. As an example when Governor of California Gavin Christopher Newsom destroyed the California economy, people moved to States like Texas or Florida with a lower cost of living. No matter where you move in Canada, the cost of living is relatively high and the tax structure from Province to province is relatively the same.

Anyway, for Doug Ford to make this grand announcement, I assume this is a clear indication that he does not see inflation as transitory, transitory meaning the cost of doing business can go down. You can’t lower the cost of living with all of these Federal government regulations on the Canadian economy. Most Canadians have a kindergarten education on finances, When Trudeau announces he will borrow, spend and regulate, most Canadians don’t understand that this means their fiat dollars will be worth-less in the future. When does Government ever shrink its debts? and if the government isn’t shrinking its debts, more taxes will be used to pay interest on its existing debts, meaning that it’s likely the Bank of Canada will have to intervene in the economy and prop up asset prices, to keep the economy from collapsing.

Doug Ford has access to information the rest of us don’t have and being that Doug Ford is a former business owner, he must see the writing on the wall that so-called transitory inflation is a lie, this inflation or at least most of it is not only here to stay, but we might be getting a whole lot more of it in the future. This should serve as a warning sign to invest for inflation, meaning if you think the price of something is going to rise in the future, consider purchasing an asset that will you imagine will add to your monthly cash flow. Consult your financial planner I AM NOT QUALIFIED TO GIVE FINANCIAL ADVICE!

Ontario government announces $15 hourly minimum wage by 2022| globalnews.ca

Interesting times ahead!