Who Did You Vote For, Canada?

No, budgets do not balance themselves:

The underlying pressures driving inflation in Canada are likely to peak in the fourth quarter of this year, economists told Reuters, though most see signs fast rising prices are becoming entrenched and warn a recession may be needed to avoid a spiral.

Canada’s inflation data for August will be released on Tuesday, with analysts forecasting the headline rate will edge down to 7.3 per cent, from 7.6 per cent in July and a four-decade high of 8.1 per cent in June.

But all eyes will be on the three core measures of inflation – CPI Common, CPI Median and CPI Trim – which taken together are seen as a better indicator of underlying price pressures.

The average of the three hit a record high of 5.3 per cent in July.

 

This is the soft landing, apparently.

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Canada’s job recovery last year seemed strong according to standard measures. However, it was recently revealed that the majority of jobs were created in the public sector. Nearly 9 in 10 jobs created between 2020 and 2021 were in the public sector. Government, not business, is expanding. Between February 2020 and July 2022, private sector growth remained relatively stagnant after posting just a 0.4% increase. The public sector, on the other hand, rose 9.4% in that same period.

So out of the 366,800 jobs added to the economy during the pandemic, only 56,100 were jobs in the private sector. This is not good for Canada’s long-term growth. The private sector has declined from 49.3% to 48.2%, meaning the government is providing jobs for most of the population.

Three million Canadians lost their livelihoods during the pandemic, a 16% contraction, pushing the unemployment rate to 13% from 5.7%. Then the government decided to reopen slowly, very slowly, and brought the majority of the population under their control. You must adhere to all of Trudeau’s mandates as a government employee. The taxpayers help to partially fund these positions and governments cannot manage a bubble gum machine, let alone the livelihoods of the masses.

Statistics Canada recorded a 5.4% unemployment rate for August, an increase from July’s 4.9% posting. Yet, business is not growing. The government now composes a disproportionate number of jobs, and this completely alters the trajectory of the Canadian economy.

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Federally-subsidized companies were given years to repay as little as ten cents on the taxpayers’ dollar borrowed from the Department of Industry, Access To Information records show. Confidential details of easy-term loans were disclosed by order of Information Commissioner Caroline Maynard: “Public funds are involved.”

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Cabinet on Saturday gave notice it will raise the interest rate on student loans. Prime Minister Justin Trudeau in the last election campaign had promised to abolish students’ interest charges altogether: “The government wants to make sure young people know they matter.”