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


CdnFox

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1 hour ago, Nationalist said:

And with this, I think it's time to thank you.

You have a very broad and detailed understanding of Canadian politics. Much more than I and way more than those you make look stupid on a daily basis.

So thank you sir...for being honest and true to yourself.

Whoa.... a level of sarcasm rarely seen on these forums 😄

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Just now, Aristides said:

May be so but how can more than doubling the price of something with taxes not be inflationary?

Again, that is your problem in BC with your BC government (and particularly the lower mainland) problem.

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30 minutes ago, Aristides said:

May be so but how can more than doubling the price of something with taxes not be inflationary?

Considering that carbon tax is such a minuscule part of all the taxes we pay, your point is lost in the noise LOL

Look at your fruits and vegetables from out of country. Look at food from within Canada. Look at wages in Canada compared to other countries (from which we get most of our products). Kinda makes the pittance of the carbon tax disappear.

Edited by ExFlyer
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4 minutes ago, ExFlyer said:

Considering that carbon tax is such a minuscule part of all the taxes we pay, your point is lost in the noise LOL

Doubling the price of something is inflationary, it doesn’t matter what the cause. By 2030, federal taxes on gasoline will be 51 cents a litre plus provincial, municipal taxes and GST on everything. It isn’t minuscule at all and if it was, there would be no point in having them other than to generate revenue.

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38 minutes ago, ExFlyer said:

Whoa.... a level of sarcasm rarely seen on these forums 😄

Dude...I watch you and the Fox go 10 rounds regularly. You and I have had our debates as well. Although we agree on some things, I find you rely too heavily on obfuscation.

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7 minutes ago, Nationalist said:

Dude...I watch you and the Fox go 10 rounds regularly. You and I have had our debates as well. Although we agree on some things, I find you rely too heavily on obfuscation.

Yup but they were out and out fights... No sarcasm at all :)

Obfuscation.? As you are now?? LOL

Mellow out , it is too early to get wound up.

 

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16 minutes ago, Aristides said:

Doubling the price of something is inflationary, it doesn’t matter what the cause. By 2030, federal taxes on gasoline will be 51 cents a litre plus provincial, municipal taxes and GST on everything. It isn’t minuscule at all and if it was, there would be no point in having them other than to generate revenue.

As I said and will continue to say, "Considering that carbon tax is such a minuscule part of all the taxes we pay, your point is lost in the noise"

If the carbon tax is so stifling for you, buy an electric car :)

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7 minutes ago, ExFlyer said:

Yup but they were out and out fights... No sarcasm at all :)

Obfuscation.? As you are now?? LOL

Mellow out , it is too early to get wound up.

 

What would you say I'm obfuscating?

I'm not wound up...yet... ;)

 

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2 hours ago, Nationalist said:

And with this, I think it's time to thank you.

You have a very broad and detailed understanding of Canadian politics. Much more than I and way more than those you make look stupid on a daily basis.

So thank you sir...for being honest and true to yourself.

Thanks! That was very kind.

1 hour ago, ExFlyer said:

Whoa.... a level of sarcasm rarely seen on these forums 😄

Now now :)  Don't hate me because I'm beautiful.  :P

 

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1 hour ago, ExFlyer said:

As I said and will continue to say, "Considering that carbon tax is such a minuscule part of all the taxes we pay, your point is lost in the noise"

If the carbon tax is so stifling for you, buy an electric car :)

No it isn't because it affects the cost of everything you buy, not just the fuel you consume. If the intent of the tax is to reduce consumption, there would be no point if the effect was miniscule. 

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2 hours ago, Aristides said:

No it isn't because it affects the cost of everything you buy, not just the fuel you consume. If the intent of the tax is to reduce consumption, there would be no point if the effect was miniscule. 

Minuscule  = "14 cents per litre to the price of gasoline and 12 cents per cubic metre of natural gas"

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18 minutes ago, ExFlyer said:

Minuscule  = "14 cents per litre to the price of gasoline and 12 cents per cubic metre of natural gas"

By 2030 federal fuel taxes will amount to 51 cents a gallon plus provincial, municipal taxes and GST on the whole shebang.

What is it you don't understand about natural gas being taxed at more than 100%

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Just now, Aristides said:

By 2030 federal fuel taxes will amount to 51 cents a gallon plus provincial, municipal taxes and GST on the whole shebang.

What is it you don't understand about natural gas being taxed at more than 100%

Fuel taxes have always been there.The only extra is the carbon tax.

Give it up, as much as you want to believe carbon taxes are the problem ,and you can if you want to, it is actually minuscule and not the issue. Imports do not pay carbon tax.

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18 minutes ago, ExFlyer said:

Fuel taxes have always been there.The only extra is the carbon tax.

Give it up, as much as you want to believe carbon taxes are the problem ,and you can if you want to, it is actually minuscule and not the issue. Imports do not pay carbon tax.

Including GST the federal carbon tax will be 39.5 cents a litre by 2030.

In the  GVRD the total is about 80 cents a litre plus GST. That's today.

To say that doesn't play a part in inflation is ridiculous. Almost everything you consume arrives in something powered by diesel or gasoline.

If imports don't pay carbon tax, we are just making ourselves less competitive.

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17 minutes ago, ExFlyer said:

Fuel taxes have always been there.The only extra is the carbon tax.

Give it up, as much as you want to believe carbon taxes are the problem ,and you can if you want to, it is actually minuscule and not the issue. Imports do not pay carbon tax.

After the carbon tax is applied HST is applied, taxing a tax.

Rather sneaky don't ya think. Nothing miniscule there

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22 minutes ago, Aristides said:

Including GST the federal carbon tax will be 39.5 cents a litre by 2030.

In the  GVRD the total is about 80 cents a litre plus GST. That's today.

To say that doesn't play a part in inflation is ridiculous. Almost everything you consume arrives in something powered by diesel or gasoline.

If imports don't pay carbon tax, we are just making ourselves less competitive.

OK, you win, yours is more minuscule than mine LOL

13 minutes ago, Legato said:

After the carbon tax is applied HST is applied, taxing a tax.

Rather sneaky don't ya think. Nothing miniscule there

Yes, minuscule. Compared to provincial income tax, federal income tax, property tax, all the other sales and whatever taxes and on and on and on.

Folks, we are taxed...like it or not,... think it explains inflation...NOT!!!

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6 hours ago, ExFlyer said:

This is not a one party political issue but a Canadian problem endured and validated by every party in power and absorbed by the Canadian public.

It is a problem with market deregulation and the total abandonment of govt Consumer Protection departments. Begun in the days of Mulroney, Thatcher and Reagan, perpetuated by all govts since.

Sickening that Canadians must rely on CBC Marketplace as the only consumer entity left to them.

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On 8/30/2023 at 2:49 PM, Aristides said:

If taxes increase the cost of living, they are inflationary. That's what inflation is.

Inflation is because we buy everything. We have to pay what the world wants for their product and if they want more, we pay more and inflation goes up.

We buy more than we sell so, inflation happens.

Statistics Canada says country posted $987M merchandise trade deficit in July

https://ca.news.yahoo.com/statistics-canada-says-country-posted-130602059.html

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3 minutes ago, ExFlyer said:

Inflation is because we buy everything. We have to pay what the world wants for their product and if they want more, we pay more and inflation goes up.

Statistics Canada says country posted $987M merchandise trade deficit in July

https://ca.news.yahoo.com/statistics-canada-says-country-posted-130602059.html

Well -  where are we getting the money to buy everything?  That's the real 'secret' to inflation.

When the money comes from private enterprise then it generally doesn't cause inflation much.  Goods are being consumed - goods are being produced. And usually in equal values.  That's why the  market works.

When the gov't dumps tonnes of money that was NOT created by productivity (the creation of goods etc) into the economy - then there is more money than goods and we get inflation.

Obviously it's slightly more complicated than that but not a whole lot more complicated.

The other big factor is population.  The supply chain can produce x amount of goods and services right now - especially for things like healthcare and most importantly - housing.

If our population grows faster than our ability to produce those goods - then too many people and too many dollars are looking for too few products and prices shoot through the roof as we've seen.

 

The simple short term fix is significantly reduce immigration to slow population growth and significantly cut spending. Lowering a few taxes would also help.

 

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3 hours ago, CdnFox said:

Well -  where are we getting the money to buy everything?  That's the real 'secret' to inflation.

When the money comes from private enterprise then it generally doesn't cause inflation much.  Goods are being consumed - goods are being produced. And usually in equal values.  That's why the  market works.

When the gov't dumps tonnes of money that was NOT created by productivity (the creation of goods etc) into the economy - then there is more money than goods and we get inflation.

Obviously it's slightly more complicated than that but not a whole lot more complicated.

The other big factor is population.  The supply chain can produce x amount of goods and services right now - especially for things like healthcare and most importantly - housing.

If our population grows faster than our ability to produce those goods - then too many people and too many dollars are looking for too few products and prices shoot through the roof as we've seen.

 

The simple short term fix is significantly reduce immigration to slow population growth and significantly cut spending. Lowering a few taxes would also help.

 

Bottom line is folks have the money to buy.....including houses as the market is driving prices again. Too many buyers and not enough inventory.

We have no productivity. We chose, years ago, to have the stuff we need to be made elsewhere cheaper so we could buy more. This is solely our fault.

The supply chain is not under our control. We are dependant on out of country products.

Housing is also a self inflicted issue. We do not have labour to build houses, as the builders association has indicated. We do not have trade schools to produce tradesmen, again our fault. Every builder/contractor is in desperate need for workers.

Wages are high (in my area labourers can make $35 to 45 per hour and as much overtime as they want). can't build houses if you have no workers.

Yes, we can slow immigration but, it seems that those immigrants are willing to take those labourer jobs.

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