Is The Liberal Party of Canada’s Reliance on Deficit Spending The Fault of The Bank of Canada or Democracy? Scotiabank accuses Canadian Federal Government of ‘doing nothing’ on inflation – June 21, 2022,
I definitely wasn’t included in the voting for Justin Trudeau a 3rd time, I’ve never voted for him, and I never will, what Canada is experiencing right now are virtue signaling Politicians who imagine they can SPEND their way out of Inflation. When CANDIDATE Jusitn Trudeau was running to be Prime Minister in 2015, he said clearly and I’m paraphrasing here that interest rates are low and that his government thought now was a great time for the government to start spending, basically causing Stephen Harper(The Prime Minister at the time) of being a cheapskate.
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a large chunk of Canadians bought into this narrative and in 2015 gave Trudeau a MAJORITY government. Soon after Justin Trudeau become Prime minister the scandals began, and the spending never stopped. A reminder that Justin Trudeau became Prime Minister of Canada during the GOOD times, and by good times, I mean ASSET price inflation was all the rage.
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If you give consumers the option of picking their poison between asset inflation or Consumer Price Inflation, most Canadians will opt for Asset Inflation, sure homeowners and other owners of assets were getting richer, which allowed them to borrow more, HOWEVER, they were NOT experiencing any NOTICABLE consumer price inflation.
Sure at times producers and manufacturers would engage in shrinkflation, but most people don’t notice shrinkflation, people notice when the prices of EVERYTHING go up and asset prices come down. To anyone who understands BASIC economics, they see lower assets equating to the government SHRINKING in size and influence on the economy because consumer price inflation is usually a sign the GOVERNMENT is doing something wrong.
A cut in planned government spending could help tame rampant inflation and reduce pressure on the Bank of Canada to hike interest rates, according to a report from Scotiabank.
The report from the bank’s chief economist Jean-Francois Perrault and modelling director René Lalonde claims that Canadian fiscal policymakers are “doing nothing of any significance to slow inflation at the moment.”
We’re Using a RULE BY FIAT Monetary system, Politicians can no longer Blame a Gold Standard for Anything
Recently Chrystia Freeland’s government FROOZE the bank accounts of Canadians they disagreed with politically, now, if the WORLD was on a Gold Standard, this would likely be the END of the Canadian economy. But because we’re on a Fiat monetary system, the damage was more physiological than it was economic. If the Canadian government as an example frooze bank accounts and the Canadian dollar was REDEEMABLE in Gold, obviously domestic and foreign holders of the Canadian dollar would cash in their gold and likely move their capital to another jurisdiction, but then again if Canada was on a gold standard this government would have been thrown out a long time ago.
Rule by Fiat money is government money and inflation is the DIRECT result of GOVERNMENT actions. But should Tiff Macklem take most of the blame for Liberal spending? or should the Democracy take the blame, for putting Tiff Macklem in this political position? If Tiff Macklem had raised interest rates say when Justin Trudeau started bailing out failing casinos, likely this would have gotten Justin Trudeau and Chrystia Freeland’s attention that they can’t spend money recklessly without penalty.
But the truth is that Chrystia Freeland has appeared smart because of Tiff Macklem’s Federal government’s debt purchases and favorably low-interest rates. You see when interest rates are low, the private sector will buy up what it imagines are CHEAP and valuable assets, and the truth is the Federal government will do the same. Justin Trudeau’s assets are VOTES, so he will spend money on anything that he imagines will get him more votes.
Bill C-11 is based on getting Justin Trudeau’s votes, Justin Trudeau’s Liberals using the CRTC have been able to control media talking points, to sweeten the deal for himself, Justin Trudeau also bailed out the mainstream media, actually, I should say not only has Justin Trudeau bailed out legacy media in Canada, he also bailed out some smaller news outlets, that tend to either give him positive news coverage or aren’t too critical of him.
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Similar to the National and Democratic Socialists as well as the Communist governments, controlling the narrative is very important to Left Wingers. It’s important that even as the Russian people starved in The United Socialist Soviet Republic(U.S.S.R) nationally they got great news coverage. a reminder that the USSR was Democratic Socialism, the average Socialist will claim the USSR did things incorrectly, but when you comprehend how fragile socialism is, you’ll comprehend why the USSR Government had to push their “wealth effect” agenda even though their economy was clearly failing.
It’s for the greater good, Left-wingers will argue, if a strong government doesn’t take away rights, the Capitalists will win. This is the low IQ, the short-sighted vision of socialists and Left Wingers, and don’t for a moment imagine that people won’t be on board with these stupid ideas. The larger the government gets, the more people in a democracy enjoy the UNEARNED benefits afforded them by Big Government.
Justin Trudeau is Canada’s Hitler – Nobody Imagined The German People would be dumb enough to VOTE for Hitler until it happened
There are a lot of people dependent on the government in Canada, I like to remind people that PEOPLE ON WELFARE do not care about INFLATION. Sure people on welfare might complain about inflation, but being on welfare means you’re living for FREE, meaning you’re not having to work, so even if things get a little expensive and your standard of living declines a little bit, it’s a price you’re willing to accept as long as you’re not forced to go back to work.
Prior to the period of Hitler, Germans were having to pay back reparations and then experienced hyperinflation, because the then SOCIALIST German governments(socialism was popular even back then), didn’t want to be honest with the German people and tell them, the country was bankrupt, the German government kept paying their debts with FIAT money.
Back then, a Gold Standard was an example still being enforced by the United States, so printing money with nothing to back it, had serious consequences, so the German currency experienced hyperinflation, becoming worthless overnight. Now, the important part to this German story, is that the people DID NOT give up on Socialism.
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Nazism is a brand of Socialism, Hitler after being kicked out of a Socialist Party in Germany for being too radical, created the National Socialist German Workers’ Party(Nazi Party). Now, because Left Wingers control the media, to this very day, National Socialism is still labeled as a Right Wing ideal, that some people conflate with Capitalism.
There is nothing Capitalist about National Socialism, Labor Unions HATE capitalists, and Hitler’s TARGET market was ORGANIZED labor unions. Why? Did Hitler focus on labor unions? Well, history shows that labor unions we’re scared to use VIOLENCE and intimidation. a government using FORCE and manipulation to avoid paying its bills is nothing new.
Sure Trudeau offers a different brand of socialism, but let’s not forget democracy’s complicity in all of this. Hitler was DEMOCRATICALLY elected, and Trudeau was Democratically elected, I might not like Trudeau, but accept that a lot of Canadians want something for NOTHING, which allows people like Trudeau to do the damage he does.
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Now, sure Tiff Macklem should have done the right thing and raised interest rates or NOT purchased Trudeau’s spending sprees a long time ago, but it would not have been POPULAR. I personally don’t understand what “Populism” means because Democracy revolves around being popular, I guess because Justin Trudeau lost the POPLAR vote in the last 2 elections, that being Popular is all of a sudden a bad word? But I don’t dispute that all of Trudeau’s bad ideas has been popular enough for Canadians to vote for him three times.
If Trudeau is elected 3 times and your Tiff Macklem, do you want to be known as the person who ruined Trudeau’s economy? When Tiff Macklem was buying Trudeau’s debts, I didn’t hear too many complaints, in fact, the complaints to date are so minimal that to hear Pierre Poilievre blame the Bank of Canada for consumer price inflation, TRIGGERS even some Conservative MPs who imagine we should support all branches of government no matter what they do.
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Supporting all branches of government no matter what they do is how Hitler and Stalin MAINTAINED power. If Hitler didn’t commit suicide, we don’t what the future would have been. The USSR economy had to COLLAPSE in order for the DEMOCRATIC Socialists to lose their grip. a lot of people in a Democracy like getting something NOTHING and I’m certain Tiff Macklem comprehends this.
I bring this up to illustrate that I personally blame our current democratic system more than I blame Tiff Macklem. The Federal Government is way too big in my opinion. Most tasks being done by the Federal Government should be done locally, I also think elections should be held every year for the Federal leader of the country. Canadians are now stuck with Trudeau until possibly 2025, a depressing thought.
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I personally don’t like to pin all the blame on central bankers, because DEMOCRACY is responsible for giving central bankers this much power.
Interesting times ahead!