Late Stage Socialism: CERB dissolves into the Canada Recovery Benefit (CRB) until September 2021, Universal Basic Income for 1 year? – August 27, 2020,
If there was ever a time you wondered about the future of the Canadian dollar, the story below should tell you everything you need to know about how Canada’s public sector bills will be paid. The news story you can read below should be saved and or printed for future reference. It was written by Jesse Snyder of the National Post and I genuinely think that you should give it a read, you’ll want to save it, because if I might forget why inflation is running rampant in the coming months.
What Finance Minister Chrystia Freeland did with this new Canada Recovery Benefit (CRB) is that she guaranteed rampant inflation, which by the way is going to hurt the poor, because if you’re not aware of how inflation works, it takes away your purchasing power, meaning savers will be losers.
I’m really not in the mood to explain this stuff to people, but assets prices in Canada will go up while the ability for people to service debt payments will go down. The bad thing about inflation while people are in debt is that servicing debt becomes more difficult because the price for most things becomes more expensive.
A remind of rent and mortgage deferrals and that’s why it would be wise for the Federal government to get people back to work as soon as possible. Paying people to be unproductive is late-stage socialism, because Canadian socialism has market elements to it, it’s not like everyone in Canada is going to go broke, but in the latter stages of socialism, a persons financial IQ plays a major role in their survival.
Along with CRB and EI there are a lot of people in Canada who weren’t working prior to COVID-19 who are reliant on Welfare. These unproductive people wh don’t qualify for CRB or EI will be hit hard with inflation, which may also mean they get a pay raise which only compounds the problem.
I would say that there are only 2 good things to come of this, the first is I hope Justin Trudeau is prime minister when the economy crashes and I think this could lead to austerity measures, which is another thing I’m hopeful for in Canada.
Sometimes change happens because of incompetence, well, one thing is for sure, Finance Minister Chrystia Freeland just screwed savers of the Canadian dollar, so if you have an above-normal financial IQ, now would be a good time to start using it!
I highly recommend you save the story below! Because when you start hearing about higher prices, why are gas and food prices so high, why is this or that getting more expensive, the information provided in the article below will be the main reason why, however by that time rampant inflation hits Canada, the mainstream media will be trying to shift the blame on to something else.
If the Liberal Party of Canada is in power chances are the mainstream media will blame Trump or the Conservatives or the private sector or the lower loonie, but the root cause of the problem will be this CRB/UBI program which will kill Canada’s productivity. You can’t hide a lack of productivity!
Interesting times ahead!