Comment on Is the inflation rate in Canada very high?

sj_zero@lotide.fbxl.net ⁨2⁩ ⁨years⁩ ago

Official rate I think hit 5.5% this month, and everyone who doesn't have their butler doing the shopping knows that's bullshit.

Gas is basically $2 a liter now, and gas is seasonal so I wouldn't be surprised to see it hit $3 this year during the summer. Groceries have been consistently getting higher and higher.

A single family home across canada costs over $800,000 dollars.

Don't blame businesses, they're just passing the additional costs on, they can't magically charge less than it costs to buy stuff. The lead times on business purchases are massive now, and everyone is having their margins squeezed.

Interest at the bank isn't even worth talking about. It's less than 1%, has been basically forever.

Investments in general haven't been doing well, and there's a good reason for that: Their valuations are completely disconnected from reality. In the depths of the recession, most stocks were shooting up, despite most companies being wildly unprofitable. You can't have badly encumbered companies stock go up forever.

People working union jobs are getting particularly trashed, because their contracts are negotiated ahead of time. Imagine your costs are going up 5% this year, and your wages will be going up 0.5% or 1% while your union demands you pat them on the back for all their hard work...

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