Statistics Canada reported Tuesday that Canada's annual inflation rate went up again in July to 3.3%.
While it's good news annual inflation is now at 3.3% compared to a 39-year high of 8.1% in June 2022, keep in mind that a decrease in the annual rate of inflation is not the same as a decrease in the overall cost of goods and services, as determined by the Consumer Price Index.
It means that the rate of inflation has slowed down while overall costs to consumers continue to rise.
Exactly - they say "Inflation is going down, it was only three percent this quarter compared to eight percent last quarter"... no, that means inflation is still going up because that's three percent more on top of the eight percent you already had. It may not be going up as fast but it's still going up up up.
Quote from: Oliver the Second on August 16, 2023, 06:17:20 PMExactly - they say "Inflation is going down, it was only three percent this quarter compared to eight percent last quarter"... no, that means inflation is still going up because that's three percent more on top of the eight percent you already had. It may not be going up as fast but it's still going up up up.
If certain core items like rent are factored in, the rate of inflation is higher than the official government number.
Additionally I had heard that the method for calculating inflation has changed within the last four decades. If you were to calculate today's rate using the same methods in 1983, you would find today's rate is more like an 80 year high.
Allegedly.
Forty eight percent of Canadians are shopping at dollar stores because of high food costs. Also, Canadians are prioritizing price over climate when they shop. Trudeau's cabinet does not understand that. They do not care either.
Keep an eye on gold.
Quote from: Lokmar on October 04, 2023, 10:28:00 AMKeep an eye on gold.
What determines the price of gold? For much of the past decade the answer was easy: the price of money. The lower rates fell, the higher gold climbed, and vice versa.
Gold is the quintessential "anti-dollar" — a place to turn for those who distrust fiat currency — so it seemed natural that prices would rise in a world of low real interest rates and cheap dollars. Or when rates went up, gold, which pays no yield, naturally became less attractive, sending prices tumbling.
Quote from: DKG on October 04, 2023, 10:13:30 AMForty eight percent of Canadians are shopping at dollar stores because of high food costs. Also, Canadians are prioritizing price over climate when they shop. Trudeau's cabinet does not understand that. They do not care either.
Dollarama must be good buy and a future growth stock, eh DKG?
Quote from: JOE on October 04, 2023, 11:14:15 AMDollarama must be good buy and a future growth stock, eh DKG?
Must be eh?
Quote from: DKG on October 04, 2023, 11:15:49 AMMust be eh?
Dollarama currently trading at $93 per share:
https://www.google.com/search?client=firefox-b-e&q=dollarama+stock+price
And it's goin' up!
Wish I'd bought it back in the day when it was only $3 a share.
Quote from: Oerdin on October 04, 2023, 11:42:34 AMGold seems high to me.
Considering that we are in a period of high interest rates, yes.
Quote from: Oerdin on October 04, 2023, 11:42:34 AMGold seems high to me.
It's falling quite fast lately.
Hovering just above $1800 USD
could fall further.
$1700 an ounce? $1600?
Platinum and Palladium are takin' a hit as well
Maybe Silver'll be at $18 or $19 an ounce soon.
https://www.kitco.com/market/
Quote from: DKG on October 04, 2023, 12:05:21 PMConsidering that we are in a period of high interest rates, yes.
In 2019 it was 1200 and now it is around 2000.
Quote from: JOE on October 04, 2023, 12:18:43 PMIt's falling quite fast lately.
Hovering just above $1800 USD
could fall further.
$1700 an ounce? $1600?
Platinum and Palladium are takin' a hit as well
Maybe Silver'll be at $18 or $19 an ounce soon.
https://www.kitco.com/market/
Communist China is going into economic depression and they were the big buyer of most metals including gold.
Quote from: Oerdin on October 04, 2023, 12:27:45 PMCommunist China is going into economic depression and they were the big buyer of most metals including gold.
Many countries which once invested heavily in China are starting to abandon the place.
The USA is either bringing its manufacturing back home or relocating it into friendlier nations.
Unemployment in China is going up, particularly among the youth who now can't find jobs.
Youth unemployment in China (people under 25) was at 25% and then the CCP just stopped reporting data. Everyone is pulling out of Communist China because prices shot up, tariffs hot hard, and the CCP has become extremely anti-business while trying to extort and steal from companies.
Xi fucked himself and his country with his stupidity.
Quote from: Oerdin on October 04, 2023, 11:42:34 AMGold seems high to me.
I suspect todays price will look cheap in a few years.
Quote from: Oerdin on October 04, 2023, 05:54:35 PMYouth unemployment in China (people under 25) was at 25% and then the CCP just stopped reporting data. Everyone is pulling out of Communist China because prices shot up, tariffs hot hard, and the CCP has become extremely anti-business while trying to extort and steal from companies.
Xi fucked himself and his country with his stupidity.
Cow Excrement
Quote from: Oerdin on October 04, 2023, 05:54:35 PMYouth unemployment in China (people under 25) was at 25% and then the CCP just stopped reporting data. Everyone is pulling out of Communist China because prices shot up, tariffs hot hard, and the CCP has become extremely anti-business while trying to extort and steal from companies.
Xi fucked himself and his country with his stupidity.
In spite of what people say of the USA being this crumbling empire, it still sets the pace in this world.
If their biggest corporations decide to pull out of China, all the other national corporations of other countries do the same.
The US still has a lotta clout & when, where they decide to invest their money still counts.
Biden's decision to cut off Chinese companies from the action has had ramifications for China's economy and its workers.
The Trudeau government recently asked the main grocery outlets in Canada to find a solution to high grocery costs. First, from manufacturing through production, delivery and service — labour costs, and transportation costs are high with escalating carbon taxes. Second, dairy supply management increases the costs of poultry, eggs, butter and milk, both directly and as ingredients for all baked products. And finally, there is the daily cost of cash flows in high interest rates for all businesses. The government wanted recommendations for reducing grocery costs when they have either complete direct control or at least massive influence over the major parts of those high costs.
Grocers in Canada say their input costs are high. The government could get rid of supply management on commodities like eggs and dairy. The carbon tax is a tax on everything that's delivered by trucks. Dropping it, if only temporarily to get us through these inflationary times, would be a good idea. Other countries are doing so.
Canadians are feeling the pinch. More people than ever are finding themselves using food banks to get them through. People are suffering.
Keep them in mind this weekend. Drop off a bag of groceries at your local food bank if you're able.
It would be helpful if governments considered the inflationary impact of their spending decisions when they're making their spending plans. It's going to be easier to get inflation down if monetary and fiscal policy(central banks and govenment spending) are rowing in the same direction. Neither Biden nor Trudeau seem to get that nor care.
Quote from: Oerdin on October 04, 2023, 12:27:45 PMCommunist China is going into economic depression and they were the big buyer of most metals including gold.
They're sitting on a fuck-ton of lithium. Then again so is Australia... and they're fucked.