Its not price gouging, its excess money supply, because the Covid stimulus was entirely funded by the Bank of Canada, who ignored their inflation mandate during Covid. Heres a graph from the Boc outlining the inflation in 2021, which hits us with a lag as the money flows through the economy.
The phillips curve depicts the relationship between inflation and wage pressure, higher inflation means more wage power, and wage gains. But during the inflation Canada did mass immigration, to force down wage pressure. So everyone is now poorer on a per capita basis than they were prior to mass immigration, that is why families dont have any money. Canada has also had the second to last worst per capita GDP performance out of the 38 countries of the OECD, we beat only Luxembourg, so people are poorer.
"To demonstrate our skepticism towards the Europeans’ ability to achieve escape
velocity and forever leave behind their zombie banking system, unmarketable
debt and complete dependence on suppressing price discovery - consider the
following policy reactions orchestrated by the European Central Bank (ECB) since
the 2008-09 crisis:
• European Financial Stability Facility (EFSF)
• European Financial Stabilisation Mechanism (EFSM)
• European Stability Mechanism (ESM)
• Outright Monetary Transactions (OMT)
• Long Term Refinancing Operation (LTRO)
• Long Term Refinancing Operation II (LTRO)
• Long Term Refinancing Operation III (LTRO)
• Tripartite Committee consisting of ECB, IMF, EC agreement (TROIKA)
• Forced austerity and bailouts of Portugal, Ireland, Italy, Greece, Spain
• Activation of FED USD Swap Lines
• Asset Purchase Program (APP)
• Corporate sector purchase programme (CSPP)
• Public sector purchase programme (PSPP)
• Asset-backed securities purchase programme (ABSPP)
• Covered Bond Purchase Programme (CBPP)
• Covered Bond Purchase Programme II (CBPP)
• Covered Bond Purchase Programme III (CBPP)
• Pandemic Emergency Purchase Programme (PEPP)
• Quantitative Easing (QE)
• Zero Interest Rate Policy (ZIRP)
• Negative Interest Rate Policy (NIRP)
Recal"
Its not price gouging, its excess money supply, because the Covid stimulus was entirely funded by the Bank of Canada, who ignored their inflation mandate during Covid. Heres a graph from the Boc outlining the inflation in 2021, which hits us with a lag as the money flows through the economy.
https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/
The phillips curve depicts the relationship between inflation and wage pressure, higher inflation means more wage power, and wage gains. But during the inflation Canada did mass immigration, to force down wage pressure. So everyone is now poorer on a per capita basis than they were prior to mass immigration, that is why families dont have any money. Canada has also had the second to last worst per capita GDP performance out of the 38 countries of the OECD, we beat only Luxembourg, so people are poorer.