Canadian inflation jumps in July, raising prospect of another interest rate hike

[CdnFox]

10 hours ago, Moonbox said:

Just saw this post, hahaha.  What a bunch of total out-of-your-ass made-up nonsense. 

 

Tanslation - spent ages trying to do research prove me wrong and couldn't and now are coming here claiming you haven't thought about it at all    ROFLMAO!  People that "just see things" a few days later don't feel the need to mention it, they just reply

Quote

a.      Around 50% of the increase in inflation observed since the end of 2019 can be ascribed to global or foreign factors. These include US inflation, commodity prices and movements in the exchange rate.

 

That means the OTHER 50 percent CANNOT be ascribed to external forces and therefore are INTERNAL -  and within Justin's control and again - 2021- early/mid 2022.

Today justin's percent is even higher.

 

AND -

In our macro model, a fall of Canadian government expenditures in goods and services decreases the output gap and, therefore, inflation. Consequently, the Bank of Canada would need to tighten its policy rates by less to achieve the same path of inflation if governments persistently reduce their consumption expenditures
(chart 1)

https://www.scotiabank.com/content/dam/scotiabank/sub-brands/scotiabank-economics/english/documents/inflation-reports/inflation-report_2022-06-19.pdf

 

Sorry sparky - Justin is responsible for most of our inflation/interest issues today .

 

Hey - maybe try lying about what i actually said again, maybe that will make a difference  

[Moonbox]

26 minutes ago, CdnFox said:

That means the OTHER 50 percent CANNOT be ascribed to external forces and therefore are INTERNAL -  and within Justin's control and again - 2021- early/mid 2022.

a.       Around 50% of the increase in inflation observed since the end of 2019 can be ascribed to global or foreign factors. These include US inflation, commodity prices and movements in the exchange rate.

b.     Supply challenges that largely reflect developments at the global level account for another 35% of the rise in inflation.

d.     While the impact of these programs on the output gap is large, the empirical impact of the output gap on inflation is modest, leading us to estimate that government transfers account for around 0.45 percentage points of the rise in inflation we have observed since the end of 2019.

 

Dumb dumb dumb.

[CdnFox]

49 minutes ago, Moonbox said:

a.       Around 50% of the increase in inflation observed since the end of 2019 can be ascribed to global or foreign factors. These include US inflation, commodity prices and movements in the exchange rate.

And 50 percent is not 

Quote

b.     Supply challenges that largely reflect developments at the global level account for another 35% of the rise in inflation.

But are internal to Canada - and how they were handled is in the gov'ts hand.

 

Quote

d.     While the impact of these programs on the output gap is large, the empirical impact of the output gap on inflation is modest, leading us to estimate that government transfers account for around 0.45 percentage points of the rise in inflation we have observed since the end of 2019

Sure - now add the effect of the Carbon tax - then the effect of program spending, then the effect of immigtation and housing price increases

AND - "While the resulting increase in the output gap only accounts for less than half a percentage point of the rise in inflation since the end of 2019, it accounts for up to 125 basis points of the total tightening expected by the Bank of Canada."

 

SO - not only is trudeau responsible for about half of the inflation we have today but ALSO most of the increase in interest rates.

You libderals - always feel the need to lie and ignore the science when it doesn't suit you.

 

Your OWN REPORT cite shows that Trudeau had control over 50 percent of the inflation and 100 percent of the interest rate hike.  We could have had no inflation or no interest rate hikes with some policy changes.

 

Why do you feel the need to lie by omission like that? Are you ashamed of the liberal performace?

 

But go ahead - repeat the lie again and maybe the facts will change

[Moonbox]

53 minutes ago, CdnFox said:

But are internal to Canada - and how they were handled is in the gov'ts hand.

b.     Supply challenges that largely reflect developments at the global level account for another 35% of the rise in inflation.

So supply challenges at the global level are "internal", which is Trudeau's fault...🤣

Dumb dumb dumb.  

Edited August 24 by Moonbox

[Nationalist]

Just for a basic understanding of what this government is up to...

 

[Zeitgeist]

Not only are carbon taxes raising our cost of living significantly, they are adding inflation, causing higher interest rates, which makes the cost of living even higher:

https://torontosun.com/opinion/columnists/terrazzano-more-proof-carbon-taxes-make-life-more-expensive?utm_source=ground.news&utm_medium=referral

[CdnFox]

On 8/24/2023 at 10:00 AM, Moonbox said:

b.     Supply challenges that largely reflect developments at the global level account for another 35% of the rise in inflation.

So supply challenges at the global level are "internal", which is Trudeau's fault...🤣

 

 

Why do I have to spend so much time teaching you to read?

Lets look at it again.

Supply challenges that largely reflect developments at the global level account for another 35% of the rise in inflation.

Largely REFLECT.  Not  "are caused by". That means they ARE LIKE PROBLEMS OTHER COUNTRIES FACE.  Not that they're CAUSED by other countries.

Cerb spending for example.  Lots of countries had to do something similar.  But trudeau is still responsible for it. His decisions caused the inflation - you can argue whether it' good or bad but HE is the cause, not another country.

only 50 percent of the inflation was due to factors outside of canada.

 

Are you finished looking like a m0ron yet? Can we maybe get you some remedial english courses?

Dumber Dumber Dumber.   

[Moonbox]

1 hour ago, CdnFox said:

Why do I have to spend so much time teaching you to read?

Lets look at it again.

Supply challenges that largely reflect developments at the global level account for another 35% of the rise in inflation.

Largely REFLECT.  Not  "are caused by". That means they ARE LIKE PROBLEMS OTHER COUNTRIES FACE.  Not that they're CAUSED by other countries.

 Wasting your breath with an irrelevant distinction.  Global/external factors don't have to be "caused" by other countries to exist.  

Dumb dumb dumb again.  

[Zeitgeist]

Global factors were significant, but countries had a range of ways to respond.  We do know that carbon taxes have added percentage points to our inflation and raised interest rates higher than they would have been raised.  We also see a lot of inflationary overspending from the Liberals.

[eyeball]

1 hour ago, Zeitgeist said:

Global factors were significant, but countries had a range of ways to respond.

The biggest response apparently being to  blame Trudeau/Canada for their troubles right?

[Zeitgeist]

4 hours ago, eyeball said:

The biggest response apparently being to  blame Trudeau/Canada for their troubles right?

I’d say they were too late with the vaccines, too restrictive and harsh with mandates, and too reckless with over-spending.

[CdnFox]

6 hours ago, Moonbox said:

 Wasting your breath with an irrelevant distinction.  Global/external factors don't have to be "caused" by other countries to exist. 

Awwww muffin - you mad because you're wrong again? LOL

There's nothing irrelevant about it, and you're obviosuly aware of that   - These were not 'global/external'.  The report already addresses those.  50 percent of the inflation eperienced between jan 2020 and mid 2022 was caused by external forces.

THe number you quoted are INTERNALLY CREATED forces that just happen to be ones that other gov'ts are struggling with    But still - internal  LOL

Sorry sparkie - as we've noted justin is responsible for how he handled those internal issues   

LOL - you just can't help yourself can you    Every time you screw up you have to double or triple or quadruple down on the stupid

[CdnFox]

6 minutes ago, Zeitgeist said:

I’d say they were too late with the vaccines, too restrictive and harsh with mandates, and too reckless with over-spending.

That is all true. However - as the Bank of Canada noted, that was only the start of the troubles.

 THe initial inflation /interest rate hikes were caused at least 50 percent by external supply chain issues as noted by the Scotia bank. Some numbers differ sligthly.  And of course - even tho it's justins "fault' for the rest of it,  in fairness there was going to have to be a covid response, something like cerb no matter what.  So SOME extra inflation was just unavoidable.

But now - he's made a bad situation worse with overspending, too much immigration for our infrastructure to handle (housing) carbon tax, etc.

Moonbox is scared spitless to discuss it But the second scotiabank report i mentioend pointed out that if the liberals had just cut spending they could have either had NO INTEREST RATE HIKES and we'd be where we are, OR if they'd kept the interest rates up we'd have much lower inflation.

About half of the inflation/interest rate problems we have right now are Directly a result of Justin Trudeau's bad policy.

[eyeball]

41 minutes ago, Zeitgeist said:

I’d say they were too late with the vaccines, too restrictive and harsh with mandates, and too reckless with over-spending.

I know you say this, ad nauseum. But you also keep implying that Trudeau and Canada were/are/is somehow more personally responsible for everything wrong in the world in ways that exceed whatever other leaders maybe contributing to,  mandates, inflation, high interest rates, housing, climate change, yadda yadda.

Why do you do that? Is there a Blame Canada movement amongst politicians around the world looking to point fingers to deflect criticism from their own naysaying right-minded populations that we haven't heard about?

[CdnFox]

2 minutes ago, eyeball said:

I know you say this, ad nauseum. But you also keep implying that Trudeau and Canada were/are/is somehow more personally responsible for everything wrong in the world in ways that exceed whatever other leaders maybe contributing to,  mandates, inflation, high interest rates, housing, climate change, yadda yadda.

Why do you do that? Is there a Blame Canada movement amongst politicians around the world looking to point fingers to deflect criticism from their own naysaying right-minded populations that we haven't heard about?

Why do you ignore simple verifiable facts to defend trudeau whom you CLAIM you don't support?

He was late on the vaccine. This was due to his backing a chinese solution (via a montreal businessman) that wound up screwing us.  This isn't conspiracy - that happened and is documented. So - we were further down the list when we did go panic buying late in the game. we got the vaccine a few months late - people died in the meantime.

Trudaeu IS in fact responsible for the interest and inflation hikes that are a result of his policies.  That's just fact.

Overspending has been identified by MANY groups as being a major problem and source of both interest rate/ inflation AND the excess debt is going to be an anchor on the canadian economy for years.

 

Those are truths.  Pretending they're not and screaming "Why do you insist on telling these truths" won't make them go away. 

Justin is in a place to exert direct control over those things. At the end of the day he has to wear the results.  And the results aren't great.

[eyeball]

1 minute ago, CdnFox said:

Why do you ignore simple verifiable facts to defend trudeau whom you CLAIM you don't support?

I'm simply wondering why you guys ignore the fact countries and politicians all over the planet made the same mistakes that have left everyone in the same boat.

I'm not defending Trudeau, I'm attacking the wierd sloppy criticisms you people, including PP, use.

I wonder if this stems from the way so many conservatives attributed enormous powers of force to Trudeau during COVID. It's rubbed off on you so hard that now you seem to believe Trudeau/Canada is more singlehandedly responsible for global inflation and higher interest rates than any other leaders on the planet.

As always, you're trying so hard to make him look as bad as you can and you're looking just as ridiculous and unbelievable in the process.

[CdnFox]

19 minutes ago, eyeball said:

I'm simply wondering why you guys ignore the fact countries and politicians all over the planet made the same mistakes that have left everyone in the same boat.

Well that's not quite true.  We are unfortunately in a 'worse' boat so to speak.  WE have slipped from having the 9th best quality of life to 27th.  That's not covid.   WE are experiencing severe inflation in food and housing which is NOT showing up in most other countries when you factor in the fact we grow the food ourselves.  Other countries did not double every single dollar previously borrowed.  I could go on for quite some time.

Not all of the inflation and interest raises are trudeau's fault, and a portion of what IS his fault was unavoidable without abandoning our people during covid - BUT - reports like that from scotia bank make it crystal clear that WE WOULD NOT have the inflation/interest that we do now EXCEPT for trudeau's polices of continued overspending.

Covid is over. We're still racking up massive masssive deficits with no end in site.  He'd borrowed well over 100 billion before covid even happened.  He is bringing in vastly more immigrants at a time when we already have a housing and healthcare shortage, which drives rents through the roof.  he's still raising the carbon tax which is a tax on everything and accounts for at least a half percent of inflation/interest

Those are specific things he absolutely has within his power.

It would be a lie for you to claim those are in any way shape or form 'global'  issues. He easily could have addressed them. In fact he promised to address many of them during elections.

 

You are TOTALLY defending trudeau.  For no good reason. The state we find ourselves in now is a result of his policies.

[eyeball]

22 minutes ago, CdnFox said:

It would be a lie for you to claim those are in any way shape or form 'global' issues.

Okay, but that's not what I'm doing. I'm mocking the notion of Justinflation and the implication Trudeau has somehow singlehandedly not just ruined Canada but the whole world. You people really need to get a grip. Like I said you're trying way to hard.

Never mind that experts from across the political spectrum, including prominent conservative pundits like John Ivison and just about every working economist in Canada, are saying the current bout of inflation Canadians are dealing with has almost nothing to do with the federal government’s policies. And let’s just forget that similar levels of inflation are happening in countries like Germany, the United Kingdom and the United States, where Justin Trudeau doesn’t have much influence or sway.

In Poilievre’s universe, Trudeau is Schrodinger’s prime minister: simultaneously too weak to achieve anything of substance and so powerful that he determines global markets and inflation trends. 

https://www.nationalobserver.com/2021/12/01/opinion/trudeau-isnt-causing-inflation-climate-change-might-be

[CdnFox]

5 minutes ago, eyeball said:

Okay, but that's not what I'm doing. I'm mocking the notion of Justinflation and the implication Trudeau has somehow singlehandedly not just ruined Canada but the whole world. 

Bull shit.  Nobody has even remotely suggested Justin trudeau is responsible for the whole world.  Show me that post - show me where ANYONE other than you has said that.

THat's just a lie you're pulling to justify your defense of Trudeau.

Justin Trudeau IS responsible for the majority of the interest/inflation we've suffered through.  That is a simple fact. You WANT to try to make it a 'global' thing but it isn't. It may have started that way where half or more was completely out of his control but now?  He could reduce spending tomrrow. That would reduce our inflation and/or interest.  It's that simple.

Quit your lying and quit trying to defend the indefensible. You'd have better luck trying to claim that his policies are justified so the inflation is just something we'll have to live with . but you can't deny that most of it is directly a result of his politics.

 

OH - and spare me the 'observer' op ed.  WE both know that was complete partisan bullshit,  but i can go through why it is line by line if you want to pretend otherwise

Edited August 28 by CdnFox

[Moonbox]

12 hours ago, CdnFox said:

Justin Trudeau IS responsible for the majority of the interest/inflation we've suffered through.  That is a simple fact.

We use our macroeconometric forecasting model to identify the causes of the rise in inflation since the end of 2019 and the required monetary response. A number of key observations flow from our work:

a.      Around 50% of the increase in inflation observed since the end of 2019 can be ascribed to global or foreign factors. These include US inflation, commodity prices and movements in the exchange rate.

b.     Supply challenges that largely reflect developments at the global level account for another 35% of the rise in inflation.

https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.inflation-reports.causes-of-inflation--december-5--2022.html

Unfortunately for you, the economists who actually know anything about inflation tell a very different story than your clueless bullshitting.  🤡

Edited August 28 by Moonbox

[eyeball]

12 hours ago, CdnFox said:

Nobody has even remotely suggested Justin trudeau is responsible for the whole world.

You dingbats have invested years and terabytes of bandwidth gaslighting yourselves with the idea that Trudeau is a major string-puller at WEF that's manipulating and controlling everything that's global especially its finances.  You've stood shoulder to shoulder with anyone who's trotted out this nonsense and PP caters to it as well.

[CdnFox]

4 hours ago, eyeball said:

You dingbats have invested years and terabytes of bandwidth gaslighting yourselves with the idea that Trudeau is a major string-puller at WEF that's manipulating and controlling everything that's global especially its finances. 

No, nobody has ever said that.  Some people feel that the WEF pulls JUSTIN'S strings ... but not the other way around   LOL

Did you have another lie you'd like to try out to excuse your precious leader's bad track record?

[eyeball]

1 hour ago, CdnFox said:

No, nobody has ever said that.  Some people feel that the WEF pulls JUSTIN'S strings ... but not the other way around   LOL

Some people believed Trudeau is so powerful he was able to send in tanks to crush truckers into submission.

[CdnFox]

27 minutes ago, eyeball said:

Some people believed Trudeau is so powerful he was able to send in tanks to crush truckers into submission.

Nobody anywhere believes tanks were sent,

Honestly man - you've got more lies and conspiracy crap in you than a flat earther and trump fanatic combined

[eyeball]

1 minute ago, CdnFox said:

Nobody anywhere believes tanks were sent,

That didn't prevent you people from comparing Ottawa to Tiananmen Square and Trudeau to the bloodiest dictators in history.

4 minutes ago, CdnFox said:

Honestly man - you've got more lies and conspiracy crap in you than a flat earther and trump fanatic combined

You do more backpeddling than a unicyclist.