Cost of living, rising inflation

[Lokmar]

Some provinces in Canada have laws requiring payment first.

The reason it was done here in B.C. was some gas station attendant went to stop a gas and dash ant got dragged under the car for over 15 kilometers alive and screaming then died of his injuries.

Too bad this wasnt in Florida. The station attendant would have blasted him to death. Problem solved.

[Anonymous]

The reason it was done here in B.C. was some gas station attendant went to stop a gas and dash ant got dragged under the car for over 15 kilometers alive and screaming then died of his injuries.

Too bad this wasnt in Florida. The station attendant would have blasted him to death. Problem solved.

That would not happen in Florida.

[Anonymous]

Canadian inflation currently stands at 6.8 per cent. This means that the loonie is losing nearly seven cents of purchasing power every 12 months. For a Canadian earning a median income of $55,700 per year, that translates to an annual inflationary loss of $3,787.60.

[Anonymous]

Canadian inflation currently stands at 6.8 per cent. This means that the loonie is losing nearly seven cents of purchasing power every 12 months. For a Canadian earning a median income of $55,700 per year, that translates to an annual inflationary loss of $3,787.60.

Some things have increased a lot more than that. Gasoline and meat for example.

[Thiel]

Canadian inflation currently stands at 6.8 per cent. This means that the loonie is losing nearly seven cents of purchasing power every 12 months. For a Canadian earning a median income of $55,700 per year, that translates to an annual inflationary loss of $3,787.60.

Some things have increased a lot more than that. Gasoline and meat for example.

Importers of industrial parts from Asia, have seen prices soar.

[Anonymous]

https://scontent-sea1-1.xx.fbcdn.net/v/t39.30808-6/289074235_10166405189350607_2407001151021263547_n.jpg?stp=dst-jpg_p843x403&_nc_cat=105&ccb=1-7&_nc_sid=8bfeb9&_nc_ohc=bksmHDbD5LgAX_Oa5lx&tn=B4U_O7zo_8JCzqtw&_nc_ht=scontent-sea1-1.xx&oh=00_AT_rdFMx5JH7dVesTHL7js9MCHnlp953qgtsCR_S3uQw2g&oe=62B1F014">

[Anonymous]

Americans hammered by rising inflation should brace for the economy to become even more precarious, an economist has warned. Inflation comes in several stages, and based on historical precedent, the next one the United States is facing won't be pretty, he said.



Inflation has been ramping up for more than a year after gigantic government spending during the COVID-19 pandemic led the Federal Reserve to print trillions more dollars. Consumer prices rose 8.6 percent year-over-year in May, with prices of some necessities, such as gasoline, housing, and food, rising particularly sharply.



Americans are now quickly realizing the economic consequences. This is stage two, with stages three and four still expected to come, according to Ross McKitrick, a professor of economics at the University of Guelph in Ontario.



'Money Illusion'

The first stage of inflation happens when newly printed money enters the economy.



"It's at that first stage where you have the money illusion. Which means people think they have more money than they do," he said, noting that this leads people to spend more, creating a brief economic boom.





"But they don't actually have more money than when they started. What they have is a dilution of the money supply," McKitrick told The Epoch Times.



Such a dilution, however, doesn't hit everybody the same.



"There's an advantage in being early in there because if you've got that stimulus check early, you went out and you could do purchases when other prices are still low," he said. "A month later, those prices may be up. At this point, of course, the same check has a lot less purchasing power, but so does all your other money."



According to McKitrick, if people could correctly anticipate how much less their money would be worth because of the inflation of the money supply, they would think twice about how much they could actually afford. Unfortunately, people typically only come to that conclusion in retrospect, after prices have already increased.



"At that point, you might look at it and realize, 'OK, I wouldn't have bought that car if I knew what was coming,'" he said.



Reality Sets In

When people realize how much less they can afford at the new prices, that's where expectations come into play. Is this going to be a one-off thing? Will prices go back down again?



"People can cope with a lot of things temporarily. If you think, 'OK, the price of gas jumped and it will be high for a month or two, and then it will go back to normal,' nobody's going to change their behavior in response to that," McKitrick said.



"But we're now at a point where people are realizing, 'OK, the price of gasoline and diesel has doubled ... and I don't see a relief on the horizon,' and then 'I actually have to start making business decisions here.'"



At this point, people start to cut back on their expenses.



"So that's the stage that we're at," he said.



'Hard Bargaining'

"The next stage in this inflationary process happens when labor markets begin to adjust," McKitrick said.



"So right now, you have a lot of workers who've effectively taken a 10 percent pay cut. And they're not just going to capitulate to that," he said. "They're going to now go to their employers and demand some relief in the form of higher wages, and the response of the employers is going to be to resist that because all their input costs have gone up and they don't feel like they've got a 10 percent increase in their budget to hand over.



"And both sides in effect have a genuine case to make that this is not new money, these are not larger profit margins—workers have lost purchasing power."



He would expect some "strike action and very tough bargaining" on the horizon.



"If that kind of wage settlement process gets calibrated to the inflation rate, then that becomes a new driver of price increases" called "wage-price spiral," he said.



Similar to the inflation in the 1970s, as long as people expect inflation and manage to get a pay raise to keep up with it, the inflation won't go away, as the payroll cost needs to get baked into the price of the final product.



"You never get rid of inflation as long as people expect inflation to be there," McKitrick said.



Pay Cut

The fourth stage ensues when the business and labor finally bury the hatchet.



"What you're looking for in that whole process is who's going to capitulate?" McKitrick said.



"Ultimately ... if you have a permanent increase in price level by 10 or 20 percent, by the time it's over, somebody's got to capitulate and just accept that as a pay cut. The phase that we're going into now will be that hard bargaining over who's going to capitulate."

https://www.theepochtimes.com/next-stage-of-inflation-incoming-economist-says_4551124.html?utm_source=morningbriefnoe-nonai&utm_campaign=mb-2022-06-23-nonai&utm_medium=email&est=BXMGryPNcDd46X1BdspXC1LGOwtkuO1L3guJTIjxXOL8F8GIymrgz%2Bu9bToV87gqeA%3D%3D">https://www.theepochtimes.com/next-stag ... gqeA%3D%3D">https://www.theepochtimes.com/next-stage-of-inflation-incoming-economist-says_4551124.html?utm_source=morningbriefnoe-nonai&utm_campaign=mb-2022-06-23-nonai&utm_medium=email&est=BXMGryPNcDd46X1BdspXC1LGOwtkuO1L3guJTIjxXOL8F8GIymrgz%2Bu9bToV87gqeA%3D%3D



The four stages of inflation. We are really going to pay for lockdowns and printing money as a response to COVID.

[Anonymous]

Americans hammered by rising inflation should brace for the economy to become even more precarious, an economist has warned. Inflation comes in several stages, and based on historical precedent, the next one the United States is facing won't be pretty, he said.



Inflation has been ramping up for more than a year after gigantic government spending during the COVID-19 pandemic led the Federal Reserve to print trillions more dollars. Consumer prices rose 8.6 percent year-over-year in May, with prices of some necessities, such as gasoline, housing, and food, rising particularly sharply.



Americans are now quickly realizing the economic consequences. This is stage two, with stages three and four still expected to come, according to Ross McKitrick, a professor of economics at the University of Guelph in Ontario.



'Money Illusion'

The first stage of inflation happens when newly printed money enters the economy.



"It's at that first stage where you have the money illusion. Which means people think they have more money than they do," he said, noting that this leads people to spend more, creating a brief economic boom.





"But they don't actually have more money than when they started. What they have is a dilution of the money supply," McKitrick told The Epoch Times.



Such a dilution, however, doesn't hit everybody the same.



"There's an advantage in being early in there because if you've got that stimulus check early, you went out and you could do purchases when other prices are still low," he said. "A month later, those prices may be up. At this point, of course, the same check has a lot less purchasing power, but so does all your other money."



According to McKitrick, if people could correctly anticipate how much less their money would be worth because of the inflation of the money supply, they would think twice about how much they could actually afford. Unfortunately, people typically only come to that conclusion in retrospect, after prices have already increased.



"At that point, you might look at it and realize, 'OK, I wouldn't have bought that car if I knew what was coming,'" he said.



Reality Sets In

When people realize how much less they can afford at the new prices, that's where expectations come into play. Is this going to be a one-off thing? Will prices go back down again?



"People can cope with a lot of things temporarily. If you think, 'OK, the price of gas jumped and it will be high for a month or two, and then it will go back to normal,' nobody's going to change their behavior in response to that," McKitrick said.



"But we're now at a point where people are realizing, 'OK, the price of gasoline and diesel has doubled ... and I don't see a relief on the horizon,' and then 'I actually have to start making business decisions here.'"



At this point, people start to cut back on their expenses.



"So that's the stage that we're at," he said.



'Hard Bargaining'

"The next stage in this inflationary process happens when labor markets begin to adjust," McKitrick said.



"So right now, you have a lot of workers who've effectively taken a 10 percent pay cut. And they're not just going to capitulate to that," he said. "They're going to now go to their employers and demand some relief in the form of higher wages, and the response of the employers is going to be to resist that because all their input costs have gone up and they don't feel like they've got a 10 percent increase in their budget to hand over.



"And both sides in effect have a genuine case to make that this is not new money, these are not larger profit margins—workers have lost purchasing power."



He would expect some "strike action and very tough bargaining" on the horizon.



"If that kind of wage settlement process gets calibrated to the inflation rate, then that becomes a new driver of price increases" called "wage-price spiral," he said.



Similar to the inflation in the 1970s, as long as people expect inflation and manage to get a pay raise to keep up with it, the inflation won't go away, as the payroll cost needs to get baked into the price of the final product.



"You never get rid of inflation as long as people expect inflation to be there," McKitrick said.



Pay Cut

The fourth stage ensues when the business and labor finally bury the hatchet.



"What you're looking for in that whole process is who's going to capitulate?" McKitrick said.



"Ultimately ... if you have a permanent increase in price level by 10 or 20 percent, by the time it's over, somebody's got to capitulate and just accept that as a pay cut. The phase that we're going into now will be that hard bargaining over who's going to capitulate."

https://www.theepochtimes.com/next-stage-of-inflation-incoming-economist-says_4551124.html?utm_source=morningbriefnoe-nonai&utm_campaign=mb-2022-06-23-nonai&utm_medium=email&est=BXMGryPNcDd46X1BdspXC1LGOwtkuO1L3guJTIjxXOL8F8GIymrgz%2Bu9bToV87gqeA%3D%3D">https://www.theepochtimes.com/next-stag ... gqeA%3D%3D">https://www.theepochtimes.com/next-stage-of-inflation-incoming-economist-says_4551124.html?utm_source=morningbriefnoe-nonai&utm_campaign=mb-2022-06-23-nonai&utm_medium=email&est=BXMGryPNcDd46X1BdspXC1LGOwtkuO1L3guJTIjxXOL8F8GIymrgz%2Bu9bToV87gqeA%3D%3D



The four stages of inflation. We are really going to pay for lockdowns and printing money as a response to COVID.

That's a lot to skim Seoul..



The takeaway I'm getting is that it's not over and it will get worse before it gets better.

[Anonymous]

My boy Pierre.

[Anonymous]

Canadian food suppliers are once again issuing notices to grocery retailers informing them of upcoming price hikes.



In some cases, the higher prices are due to the Canadian Dairy Commission's approval of a second milk price increase this year. Farm gate milk prices are set to go up about two cents per litre, or 2.5 per cent, on Sept. 1.



Lactalis Canada, for example, said in a letter to customers it must implement an average national market increase of five per cent this September, a rate it said that takes into account the CDC pricing increase as well as "significant inflationary costs" the company is facing.



Arla Foods Canada issued a similar notice, saying price increases on its products coming this September reflect higher milk ingredient costs and the "inflationary impacts across freight and packaging."



Saputo Dairy Products Canada also said it would implement price increases in the five per cent range, depending on the category.



"Producers have faced increased production costs as well as rising feed, energy and fertilizer costs, which have had a significant impact on this year's farm gate milk price adjustment," Saputo said in a letter to its retail customers.

[Anonymous]

Wheat prices rose on July 25, days after Russian forces struck the southern Ukrainian port of Odesa.



Chicago wheat futures surged by as much as 4.6 percent before paring the gain to trade 3.1 percent higher at $7.82 1/4 per bushel by 3:21 p.m. in Singapore.



Corn futures rose by as much as 2.8 percent on July 25 before the gain eased to 1.4 percent, while soybeans were up by just 0.3 percent.

[Lokmar]

Hopefully, my father in law who farms rakes in the cash!!!!

[Anonymous]

A bunch of states in the US are sending out cheques to cope with inflation.



These state-level stimulus checks and tax refunds come after the federal government pumped in billions of dollars in the form of COVID-19 relief assistance in the past years. According to Christina Herrin from the nonprofit Citizens Against Government Waste (CAGW), stimulus checks by states are a "fruitless attempt to combat inflation."

[Oliver Clotheshoffe]

And they print up even more money to pay for the stimulus checks which will make inflation even worse. But the inflation won't hit until after the election so hey give them more free money so they vote for us in the meantime. Let them deal with five dollars a loaf afterwards.

[Anonymous]

And they print up even more money to pay for the stimulus checks which will make inflation even worse. But the inflation won't hit until after the election so hey give them more free money so they vote for us in the meantime. Let them deal with five dollars a loaf afterwards.

Printing money across developed countries created inflation. Justine wants to fight inflation with the same shit that caused it. Progs are nuts.