I guess we should be happy Justin Trudeau started talking about the economy, even if it's clear he still has no understanding of how it works..We need to take baby steps here. It wasn’t long ago when he unabashedly stated he doesn’t think about monetary policy at all..It's doubtless Trudeau would rather remain in blissful ignorance of the economy and stick to his usual shtick of virtue signaling on climate change, COVID-19 and social justice issues but the growing popularity of Pierre Poilievre won’t allow it..Unfortunately, while Trudeau is finally speaking about inflation and growing cost of living for Canadians, he still seems to be under the impression he can borrow and spend our way out of it. The Trudeau government plans to spend more than $4 billion to fight inflation. A government trying to spend its way out of inflation is about as effective as a person trying to extinguish a fire with gasoline. .If the government keeps printing money and increasing spending, inflation will continue to grow. The Bank of Canada will continue to raise interest rates to combat the inflation and we will inevitably be driven into a recession..While the Trudeau government has been celebrating the nation’s economic recovery from the pandemic for some time now, the recovery isn’t real. We've been living on the credit cards of future generations and now the bill is becoming due in the form of unchecked inflation..Our national debt is a staggering $1.2 trillion and it's growing at a rate of $145 million per day. As interest rates rise, the cost of servicing that massive debt will begin to eat deeply into government budgets. We have been here before..It gets worse though. While the government celebrated job growth and most of the legacy media outlets amplified that message for them, the job growth was fake..More than 86% of all new jobs created since 2020 have been in the public sector which grew by a 9.4% in the last couple years. The private sector only grew by .4% during that period..The government has simply opened the hiring floodgates to create the impression of job growth. In reality, this policy is little more than a work for welfare program. The government would be better served to just send cheques and drop the pretense of hiring people..How well has this hiring binge of civil servants worked out?.Passport renewals are backlogged by months, immigration approvals are backed up by years and the government can’t even get its own payroll right. Whatever all those tens of thousands of people the government hired were supposed to do, they clearly aren’t doing it well..The bloating of the civil service is contributing further to inflation on multiple fronts. First, it leads to increased government spending and borrowing. Second, it disrupts the labour market and forces competing private sector employers to raise wages to draw employees. That means they need to give raises to their existing employees which leads to raising prices for their goods and services thus adding to the cost of living. Its an ugly cycle and citizens on fixed incomes pay a harsh price for it. .It's tough for a private sector employer to compete with government jobs that offer high wages, huge pensions and next to no work required..Now you know how we can be in tough economic times yet be in a labour crisis at the same time..Canada’s economy is not in good shape and it's not recovering. It is balanced on a pinhead shored up with debt and government spending. It will crash soon..While Poilievre is valiantly trying to bring this issue to a head, the mainstream media is focused on attacking him. Global reporter David Akin even went on a bizarre, shouting, heckling rampage at a Poilievre press conference. The legacy media outlets will continue to carry Trudeau’s water for him to the bitter end..In the meantime, most Canadians aren’t aware of the economic freight train that’s about to hit them..Budgets don’t balance themselves despite what Trudeau claimed. Economies will correct themselves though and when they do, it can be ugly..Hold on to your hats folks. The ride is about to get rougher. .This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
I guess we should be happy Justin Trudeau started talking about the economy, even if it's clear he still has no understanding of how it works..We need to take baby steps here. It wasn’t long ago when he unabashedly stated he doesn’t think about monetary policy at all..It's doubtless Trudeau would rather remain in blissful ignorance of the economy and stick to his usual shtick of virtue signaling on climate change, COVID-19 and social justice issues but the growing popularity of Pierre Poilievre won’t allow it..Unfortunately, while Trudeau is finally speaking about inflation and growing cost of living for Canadians, he still seems to be under the impression he can borrow and spend our way out of it. The Trudeau government plans to spend more than $4 billion to fight inflation. A government trying to spend its way out of inflation is about as effective as a person trying to extinguish a fire with gasoline. .If the government keeps printing money and increasing spending, inflation will continue to grow. The Bank of Canada will continue to raise interest rates to combat the inflation and we will inevitably be driven into a recession..While the Trudeau government has been celebrating the nation’s economic recovery from the pandemic for some time now, the recovery isn’t real. We've been living on the credit cards of future generations and now the bill is becoming due in the form of unchecked inflation..Our national debt is a staggering $1.2 trillion and it's growing at a rate of $145 million per day. As interest rates rise, the cost of servicing that massive debt will begin to eat deeply into government budgets. We have been here before..It gets worse though. While the government celebrated job growth and most of the legacy media outlets amplified that message for them, the job growth was fake..More than 86% of all new jobs created since 2020 have been in the public sector which grew by a 9.4% in the last couple years. The private sector only grew by .4% during that period..The government has simply opened the hiring floodgates to create the impression of job growth. In reality, this policy is little more than a work for welfare program. The government would be better served to just send cheques and drop the pretense of hiring people..How well has this hiring binge of civil servants worked out?.Passport renewals are backlogged by months, immigration approvals are backed up by years and the government can’t even get its own payroll right. Whatever all those tens of thousands of people the government hired were supposed to do, they clearly aren’t doing it well..The bloating of the civil service is contributing further to inflation on multiple fronts. First, it leads to increased government spending and borrowing. Second, it disrupts the labour market and forces competing private sector employers to raise wages to draw employees. That means they need to give raises to their existing employees which leads to raising prices for their goods and services thus adding to the cost of living. Its an ugly cycle and citizens on fixed incomes pay a harsh price for it. .It's tough for a private sector employer to compete with government jobs that offer high wages, huge pensions and next to no work required..Now you know how we can be in tough economic times yet be in a labour crisis at the same time..Canada’s economy is not in good shape and it's not recovering. It is balanced on a pinhead shored up with debt and government spending. It will crash soon..While Poilievre is valiantly trying to bring this issue to a head, the mainstream media is focused on attacking him. Global reporter David Akin even went on a bizarre, shouting, heckling rampage at a Poilievre press conference. The legacy media outlets will continue to carry Trudeau’s water for him to the bitter end..In the meantime, most Canadians aren’t aware of the economic freight train that’s about to hit them..Budgets don’t balance themselves despite what Trudeau claimed. Economies will correct themselves though and when they do, it can be ugly..Hold on to your hats folks. The ride is about to get rougher. .This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
