Yep:
Food prices have soared to their highest rates in almost half a century, leaving many Canadians feeling more financial pressure at the checkout line and eating less healthy food to save money — something that could lead to serious impacts on our health.
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Food bank usage in Canada is up. Way up.
In March of this year, there were nearly 1.5 million visits to food banks across the country, according to a recent report by the non-profit organization Food Banks Canada. That's 15 per cent higher than what was seen in March 2021, and 35 per cent higher than the number of visits in March 2019.
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The price of spaghetti is up 26 percent nationwide on average, Statistics Canada reported yesterday. New grocery inflation figures came ahead of a Fall Economic Statement that will provide some inflation relief, said Prime Minister Justin Trudeau: “Yes there continue to be pressures.”
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Diesel in New Brunswick now at $3.07.
— Tom Quiggin (@TomTSEC) November 5, 2022
Up 68 cents in one shot.
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A diesel shortage south of the border could trickle to Canada causing price spikes along with an overall rise in prices, says Dan McTeague, president of Canadians for Affordable Energy, a senior petroleum analyst for GasBuddy.com, and an 18-year veteran of the House of Commons.
A diesel supply shortage has been gripping the United States of late, with the White House declaring on Oct. 23 that reserves are down to 25 days of supply.
In an interview with The Epoch Times, McTeague said that diesel demand is “extraordinarily strong and production is just not there.”
McTeague predicts that the further east you go on the continent, the worse the shortage will be, on top of an ongoing supply crunch. U.S. diesel supply shortages are critically low, he says, and Canadians are going to feel it.
“Diesel inventory is 45% below the median five-year average right now,” McTeague says, citing figures from the U.S. Energy Information Administration (EIA), which collects and analyzes energy information for the industry.
Even if oil prices trade above US$120 next year as industry analysts predict, factors all adding to the shrinking stockpiles are the anticipated cold, unpredictable winter plus a shortage of U.S. refineries, low inventory, and strikes at two refineries in France.
That is not to say the world will run out of diesel. The EIA only shows the supply if all American refineries stopped producing and importing oil from other countries.
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Canadian taxpayers could be on the hook for $2.4 billion because of a pandemic loan relief program, according to a Blacklock’s Reporter story.
The loss was projected though cabinet extended a payment holiday for business borrowers to Dec. 31, 2023.
This stems from the $49.2 billion Canada Emergency Business Account program.
This information came to light after a request by Conservative MP John Williamson (New Brunswick Southwest).
Williamson asked for figures on “the dollar amount of Canada Emergency Business Account loans projected to be written off as bad debt or other reasons such as fraud.”
Cabinet in an Inquiry Of Ministry tabled in the Commons placed the figure of $2.4 billion though loans are not repayable for over a year.
“The dollar value of loans written off to date is $1.3 million,” said the Inquiry. “Financial institutions administer the program and can only write off if the loan is to a borrowing customer and the financial institution is writing off some or all of its own loan.”
Budgets balance themselves and blame someone else for all of this.
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