"Justin Trudeau: Well first of all, inflation is a direct consequence of the global COVID crisis. "

[Michael Hardner]

18 minutes ago, Yzermandius19 said:

 1. he is doing it again

1. I will say it again: if he is repeating the opinions of most economists then he's neither lying nor does he "not have a grasp" on the situation.  The Yzer method is to just repeat a claim over and over without ever conceding a point or admitting that the other person has a valid perspective.

It's a shitty way to discuss things as it just puts us at odds, makes you look like a stubborn ass, and the discussion goes nowhere beyond: "It is" "Is Not"
 

[Yzermandius19]

6 minutes ago, Michael Hardner said:

The Yzer method is to just repeat a claim over and over without ever conceding a point or admitting that the other person has a valid perspective

projection is a helluva drug

that's the MH method

throwing stones from your glass house

and then playing the victim when I throw your stone back

Edited December 24, 2021 by Yzermandius19

[RedDog]

$4.00 for a head of lettuce at Sobey’s yesterday ($3.99). This was a California product and Sobey’s owns a produce buyer/shipper with a VAST warehouse and shipping point to Canada in Tracy, California as they have for decades.

I was used to paying .99 much of my adult life. Why suddenly the 400% increase?

[Michael Hardner]

27 minutes ago, RedDog said:

I was used to paying .99 much of my adult life. Why suddenly the 400% increase?

Of course it's that damn Trudeau...

Oh wait, no... farm labour logistics due to Covid...

https://gro-intelligence.com/insights/lettuce-prices-to-stay-elevated-into-late-fall-gro-expects

Farm labour in CA depends on migrants, I believe

[G Huxley]

"1. And yet many economists say it's the cause.  I already posted that."

I think you draw incorrect conclusions from what they are saying.

They are saying that the fallout from COVID is a factor, not a direct cause of inflation as Trudeau is saying.

There is nothing a virus does that directly causes inflation.  Can a virus control the interest rates?  Tell me an economist that believes that and I'll point to a charlatan or liberal party member, or both.

"2. You are just stating it's a lie and not why."

I stated why its a lie and that is that inflation including the current spike has multiple factors involved, from the Bank of Canada's policies, to interest rates, to carbon taxes, to the government mass printing money, the money supply, policies regarding international/global finance, high migration rates, to handouts driving consumer prices up etc., etc.,

To simply say that inflation is directly caused by Covid as Trudeau stated is a lie.

"It's obvious that Covid 19 has disrupted the supply chain and the fact that you haven't even mentioned that is more deceptive than Trudeau agreeing with a plurality of economists, sorry."

I haven't once denied that COVID has disrupted the supply chain.  There is nothing deceptive in that.  I am not making the claim that COVID is not an indirect cause of a good portion of the inflation spike, in fact I have openly stated that it is. 

What is a lie is what Trudeau stated that inflation is directly caused by COVID.  It isn't.  During the first phase of COVID inflation actually decreased steadily to at one point negative inflation (deflation).

https://www.rateinflation.com/inflation-rate/canada-historical-inflation-rate/

The inflation rate has only really taken off in the last 8 months, whereas COVID has been in existence for two years.

Edited December 25, 2021 by G Huxley

[Michael Hardner]

12 minutes ago, G Huxley said:

 

1. They are saying that the fallout from COVID is a factor, not a direct cause of inflation as Trudeau is saying.

There's nothing I can see that differentiates the core message.

If something is looking for a reason to blame him, they can find them.  But given that inflation is happening everywhere, it's pretty clear that to blame Trudeau is a political tactic.

12 minutes ago, G Huxley said:

 

lockquote widget

[G Huxley]

Case in point here are some economists pointing out that the supply chain disruption from COVID is not the only factor:

"This reduction in supply, coupled with increased consumer demand, are major catalysts for the recent spike in inflation. But there is another significant cause, namely government spending.

Government Spending: Stimulus, Pork, or Catalyst for Inflation?

When the federal government passed the CARES Act in March 2020, there was a strong justification for doing so. For without it, the U.S. would have faced a very dark economic period, some even say a depression. Regardless, federal spending has created the largest government deficit in U.S. history. The following chart tells the story. In the most recent fiscal year ending September 30, 2020, the U.S. had a $3.129 trillion budget shortfall, more than twice the $1.4 trillion deficit during the 2008 financial crisis.

A year after the CARES Act, Congress passed, and President Biden signed, the American Rescue Plan Act of 2021, with a hefty $1.9 trillion price tag. But that’s not the end of the spending if the Democratic majority has their way. On August 11, Senate Democrats approved a budget resolution, paving the way for an additional $3.5 trillion spending bill, just hours after passing a bipartisan $1.2 trillion infrastructure plan. Democrats in Washington are taking full advantage of their majority to transform America into a deeply socialistic country. What is yet to be seen is the impact this excessive spending will have on inflation. What is certain is that this mounting debt burden will be problematic in the future. But I digress.

Sure, the economy is doing well, but it is largely due to the excessive spending in Washington. If you put enough money into the hands of consumers, coupled with the stress of the pandemic, they will spend. This has caused an increase in demand, which has served to push inflation higher. If the government continues to spend at the same rate, and the supply chain problems persist, inflation will continue to rise. The Federal Reserve is another, albeit secondary player cause of the recent inflationary spike.

The Fed: The Only Adult in the Room?

It’s not very common to find Washington (fiscal policy) and the Fed (monetary policy) working in sync. During the 2008 financial crisis, for instance, the Fed was dramatically expanding the monetary base while Washington was mired in politics. Currently, the Federal Reserve continues to buy Treasury Bonds and mortgage-backed securities to the tune of $120 billion per month. In other words, the Fed has been adding $120 billion per month to the money supply. The Fed is also considering reducing this amid inflation concerns. One key difference between Washington and the Federal Reserve is that decisions from Washington have a political component whereas the Fed acts without such interference.

It’s hard to say how long inflation might persist or how far it will rise. Nonetheless, with a pandemic that is surging, a Democratic majority in Washington intent on spending excessively, continuing supply chain constraints due to the pandemic, and an over stressed consumer that has been spending, it’s likely inflation will rise much more in the coming months.

https://www.forbes.com/sites/mikepatton/2021/08/18/inflation-surge-to-continue-here-are-3-reasons-why/

Also this one: https://www.nytimes.com/2021/10/18/business/economy/fed-inflation-stimulus-biden.html

 

Again the elephant in the room.  Government over spending/printing money.

 

Edited December 25, 2021 by G Huxley

[G Huxley]

"There's nothing I can see that differentiates the core message."

See the Forbes article I just posted.

"If something is looking for a reason to blame him, they can find them.  But given that inflation is happening everywhere, it's pretty clear that to blame Trudeau is a political tactic. "

Trudeau being the PRIME MINISTER, not the office secretary, he does actually have a lot of power over how inflation takes place in CANADA.  He is not the only driver of inflation globally of course and no one is claiming that he is.

I am blaming him for being dishonest about the complexities involved with inflation and negating his own role in Canada's.

Don't tell me the 77% rise in Canadian house prices during his tenure as mentioned in the interview was the result of COVID.

Edited December 25, 2021 by G Huxley

[Michael Hardner]

11 minutes ago, G Huxley said:

Don't tell me the 77% rise in Canadian house prices during his tenure as mentioned in the interview was the result of COVID.

Don't worry, I won't.  All major parties are complicit in the disastrous toppling pyramid of real estate prices

[G Huxley]

Indeed.