Absolutely shocking!

The man who is most responsible for printing trillions of dollars is telling us that inflation just might last a bit longer:

Global supply-chain constraints and shortages that have led to elevated inflation “are likely to last longer than previously expected, likely well into next year,” Powell said, while adding that “it is still the most likely case” that as those constraints ease.

From early 2020 to late 2022, a full-time minimum wage worker in America and Canada will have his real income cut by 25% or more. Buying a house was a dream. Now, renting a one-bedroom apartment is going to be tough for low-wage workers. Inflation is a hidden tax but it's really insidious for the poor.


No mercy from the money printer

In the past year, food is up by 20%, real estate spiked by 25%, and oil price has increased by over 33%. Oh, and just this month, the minimum wage in Ontario increased by a generous 0.7%! Even with a 10% growth in wage, the real incomes of most people would have decreased.


Huge tax increase for the poor

The highest inflation in Canada in a generation:

The Consumer Price Index in Canada jumped 4.4 per cent year over year in September.

Statistics Canada says it’s the fastest pace of inflation since February 2003, and up from a 4.1 per cent rise in August.

Parents must be in shock when they fill up their car at the pump.

Drivers continue to feel pain at the pumps with a 32.8 per cent increase in gasoline prices, but those scorching gains were 0.1 per cent lower than in August.

Don't worry, the core only went up 1.8%!

“The core-common component indicator remained at 1.8 per cent,” said Mendes.

“That's the measure that's most correlated with slack in the economy and will likely leave the central bank viewing the recent rise in prices as transitory.”

Yeah, tell that to the minimum wage workers in Ontario who got a splendid 2.5% increase in three years.


Money printer has no sympathy

Reason: High Inflation Is Here To Stay But the people in power won’t even say as much, let alone do something about it.

That is such a bizarre title for the article considering this excerpt:

Let us not forget that inflation is not about rising prices. The rising price level is the result of an inflated money supply—all those trillions of stimulus dollars now out and chasing harder after goods and services.

That is correct. The people in power are responsible for the staggering increase in the money supply. Why would one expect them to own up to it or do something about it? It's like pleading with a cold career criminal to help his numerous victims.


Lower than minimum

As worker shortages persist and government subsidies approach their end, a growing number of industry groups — largely in food services — are asking the federal government to let them host more temporary foreign workers to fill jobs.

Why do companies want foreign workers when there are plenty of unemployed people in Canada?

A federal audit in 2017 found that the program was rife with oversight problems that let lower-paid international workers take jobs that unemployed Canadians could fill, effectively allowing companies to build a business model on lower-than-legal wages.

Yeah. The minimum wage in Ontario went up by a staggering $0.10 this month to $14.35 per hour. Businesses can get foreign workers for $10/hr or less. What, exactly, is the point of having a minimum wage law when firms can easily bypass it?


Basic reality

It's both. If your job can be performed by millions of other people in the country, then it's low-skilled work. Given the Iron Laws of Supply and Demand, it follows that you'll also get low pay. It is what it is.


Behold the science

European Journal of Epidemiology: Increases in COVID-19 are unrelated to levels of vaccination across 68 countries and 2947 counties in the United States.

When vaccine fiction meets reality:

[...] in a report released from the Ministry of Health in Israel, the effectiveness of 2 doses of the BNT162b2 (Pfizer-BioNTech) vaccine against preventing COVID-19 infection was reported to be 39% [6], substantially lower than the trial efficacy of 96% [7].

Pfizer got billions of $$$ for this pfake vaccine and now they want more for their extra useless jabs. One wonders just how much they paid the politicians.


"Experiment on humanity"

A scientist presents lots of concerning patterns from the "vaccines".

Evil corporation run on Covid money:

The US has 44 million people who got Covid and survived. Assuming that full vaccination counts as two shots and only 20 million of those people are retarded, then at $25 a jab, that's $1 billion. No wonder, these pharma companies are completely ignoring natural immunity.


Lies for $$$$!

Hundreds of millions of people across the globe trusted SCIENCE! and got jabbed. It doesn't even fucking work. I heard from an Asian source that ten people in the local area tested positive for covid. Exactly half of them were fully vaccinated.


A big tax on the poor

Food prices are playing catch up with real estate insanity:

According to Statistics Canada, food prices are up 2.7 per cent over the past 12 months. But, new research from Dalhousie University’s Agri-Food Analytics Lab published Wednesday shows the food inflation rate in Canada is closer to five per cent.

Meat products have seen the largest price spike, with Statistics Canada data noting those products have become 10 per cent more expensive over the past six months.

At my local grocery store, prime rib roast used to be on sale for $5 per pound three years ago. Last year, it was $7. Today? $9.

Canadians have also noticed increasing use of a strategy known as “shrinkflation,” the study found, whereby food producers sell products with less quantities or volume without reducing the price. Almost three quarters of respondents (73.5 per cent) said they were aware of certain food products that have shrunk, despite prices either remaining the same or increasing.

Oh, that has been happening for many years. It's quite common with snack bars, chips, cookies, ice cream, etc. The most recent that I've noticed is bags of chips from 300 grams to 200 or 200 to 150 grams.


Squeezing the not-rich

Yup. Here, in Canada, the average person pays a total tax rate above 40% without realizing it. Imagine, if there was only one big tax that people paid for their lovely government services. So, a guy making $50,000 would get his $20,000 tax bill at the end of the year. Liberals would get crushed in elections. That's why we have hundreds of tiny taxes to keep the anger from boiling over.

We've got grocery bills going up, oil has doubled in price, the real estate market is insane, and now, the government is adding more taxes. More interesting times.


Easy to fool the sheep

Your health is irrelevant. What matter is that Big Pharma got billions in profits and the governments increased their power through intrusive surveillance.


Tax those who're richer than me

The survey of 1,512 Canadians found that 82 per cent support a tax on luxury goods, including items such as pricey cars, boats, yachts and private planes. They are also in strong support of a so-called wealth tax on those with higher incomes, with 81 per cent of respondents in support of such a policy. Increasing taxes on corporations – something each of the three major parties has proposed – also received 78 per cent support.

But Canadians balk when it comes to the idea of a capital gains tax on principal residences, something 67 per cent of those surveyed say they are against. However, half of young Canadians – those between the ages of 18 and 34 – are in support of a capital gains tax on principal residence, likely a reflection of the affordability challenges in the Canadian housing market.

Summary:

  • Canadians to wealthy people: Fuck you!
  • Canadians want 0% tax on their real estate profits.
  • Young Canadians to older Canadians: Fuck you!

Anyway, a wealth tax is a horrible idea on many levels. Here's a simple scenario. The government imposes an annual tax of 1% on the super wealthy. A guy who has exactly one billion dollars will have to pay an extra $10 million in just the first year. Would it really be a surprise if he moved his entire wealth to a different part of the world? There's no shortage of countries that'll be delighted to give this guy citizenship for the volume of capital he'll bring. So, that 1% tax will bring $0 from this one billionaire. Worse, Canada will lose all other future taxes (income, sales, capital gains, etc.) from him.

Taxing wealth is a terrible plan because capital can be easily and quickly moved away. Of course, it plays well with the public because they're envious and stupid.


Pfizer profits boosted

What. The. Fuck!

Pharmaceutical megacorporation pfizer is now developing a COVID pill that is meant to be taken alongside the COVID vaccines that have already made the company a staggering amount of money. The new pill is expected to be released by the end of the year and will be required to be taken twice per day.

Vox Day:

Seriously, who keeps falling for this nonsense? Precisely how brain-dead must you be to keep buying what they’re selling?

Next Year: Time for your seventh booster shot. Oh, the twice-a-day pills have been slightly modified. Now, they're suppositories! Bend over bitches!


Perfidy

A homeless person who owns three properties:

Brandie LaCasse has been waiting on rent for nearly a year. She owns three properties in upstate New York, but the single mother and Air Force veteran is functionally homeless after falling on hard times herself.

After notifying tenants they had to move out so she could move in, the tenants stopped paying rent and stayed put, she said. She and her daughter have been living out of her car and staying with friends.

Brandie just learned about the compassionate nature of government:

"I don't understand how they can give my private property to somebody to live for free. I bought that property. I fixed it up with my blood, sweat and tears," she said.

Worse, if she has mortgages, then soon she'll lose the properties to the banks. She put her eggs in one basket: real estate. This shows how no investment is truly safe.


That doesn't boost pharma profits

There have been 1.5 million confirmed cases of COVID-19 in Canada. 27,000 have died. The rest have natural immunity that beats vaccines. Yet, almost all of Canada will soon have some sort of a vaccine passport system. Why are governments and businesses discriminating against 1.5 million people who don't even need a vaccine? Where are the brave lovers of SCIENCE!?


Not getting incentives

Benevolent socialists have often fixed the price of food because the evil farmers are gouging the average person. Then, everyone is shocked when the farmers simply stop growing crops because they can't get money for their labor. The same logic applies to renting:

There was an application process for renting an apartment in my area. One had to submit personal information for a credit check while also having an in-province job history of a minimum of five years. That was in 2004. It isn't just six months rent upfront. Landlords can use strict criteria to weed out potential troublemakers. For example:

  • age
  • race
  • job history
  • credit score
  • marital status

So, if you're a single guy in his early 20s working at a fast food joint who has saved a few thousand dollars for renting a new apartment, then you'll still be rejected because you're not safe enough for the landlords who've been drained by parasites.


Money printer goes brrrr

I looked at the local sale price increases of a few items compared to two years ago.

Eggs: $2 --> $2.8
Butter: $3 --> $3.5
Milk (4L): $4 --> $4.7
Coke (6 pack): $2 --> $2.8
Potatoes (10 lbs): $2 --> $4
TV dinner (300g): $2 --> $3
Peanut butter (1kg): $3 --> $4.5
Chicken legs (1 lb): $1.5 --> $2.5
Lean ground beef (1 lb): $3 --> $5

For a second, I was surprised by the tiny increase for milk. Of course, the milk price is set artificially high by the Canadian government. So, it didn't go up as much because it's not the market price. Add in the price increases for rent, electricity, internet, electronics (especially graphics cards and laptops) and your average person is getting squeezed hard.


Perverse incentives

End result:

  1. Higher rents because of this additional risk.
  2. Fewer landlords in the future. Big companies survive; smaller guys and gals die.
  3. Governments step in with rent controls which leads to lower quality spaces and a further reduction in supply.

Welcome to Canada!

160 square feet of glory:

A Craigslist listing for a “micro studio,” which featured a bed placed in a bathroom was flagged for removal after less than 48 hours of being posted.

Makes sense.

“Bathrooms must be physically separated from the remainder of the unit by partitions and a door to ensure privacy and to isolate noise and odours,” the guidelines state.

No shit!


The current year

My electricity used to be on a two-month billing cycle. The utility company changed it to a one-month schedule a few years ago. Now, my payments are approaching the same amount as they were before that change. In other words, electricity has doubled in price in a very short time. Add in the skyrocketing housing market, rent and the recent spike in food prices and real inflation is squeezing the average person. Of course, the government data shows a modest 1.314% inflation. So, it's cool.

The same holds true with crime statistics. If the police don't even bother recording the petty thefts, burglaries, and physical assaults, then did they really happen?


Communism to Capitalism

Raw emotion in a supermarket. The part about the eggs was pitiful.

Communism has been glorified for a century but it can't even provide the one basic need that people have: sufficient food! Cakes and toys are out of reach for the average Cuban:

The guy has been in construction for two decades but the roof on his home leaks because he simply doesn't have the materials to fix it.


A few sacrifices

Advice on housing for younger generations:

After Core Development Group announced plans to buy a billion dollars worth of Canadian homes and convert them into rental units, financial advisers are telling millennials in the housing market to stop wasting their money on life’s little pleasures and start forming their own ghoulish conglomerates.

We get a few precious options:

“I don’t want to imply that spearheading a sleazy corporate land grab is the only path to homeownership,” Knapp said. “Prospective buyers could also win the lottery, discover buried pirate treasure, or poison a homeowner in the family. And stop eating avocado toast, of course.”

At press time, housing prices were up another 21%.

Today, they're up another 18%.

Okay, seriously:

Canadians are piling on debt to purchase property at the fastest pace in more than a decade amid a pandemic-driven housing boom.

In early 2020, I would have bet that housing prices would have decreased in Canada. So, the following is definitely shocking:

The average sale price for a home in Canada has surged 38% to C$688,208 over the past year, according to data from the Canadian Real Estate Association.

Plus, oil is up 50%. It has been a horrendous eighteen months for the average person.


And you'll be happy!

Large parts of Canada are worse. The average detached house in the Greater Toronto Area costs over $1 million. Even an annual $56,000 income -- that's double minimum wage -- is utterly insufficient in such a rigged market.


No manna from minimum wage

On Thursday the Harvard Business Review published an article under the headline, “Research: When a Higher Minimum Wage Leads to Lower Compensation.”

It's new research from data in California and Texas:

“For every $1 increase in the minimum wage, we found that the total number of workers scheduled to work each week increased by 27.7%, while the average number of hours each worker worked per week decreased [sic] by 20.8%,” the researchers wrote. “For an average store in California, these changes translated into four extra workers per week and five fewer hours per worker per week — which meant that the total wage compensation of an average minimum wage worker in a California store actually fell by 13.6%.”

Since the businesses are forced to pay more for each hour of labor, they make up for it by cutting benefits:

“We found that for every $1 increase in minimum wage, the percentage of workers working more than 20 hours per week (making them eligible for retirement benefits) decreased by 23.0%,” the researchers said.

I've seen this a lot in Ontario as well where many stores would rather hire 2-3 part-time workers instead of one full-time employee. This often means that such workers now have to juggle multiple jobs to make ends meet.

This meme seems appropriate:


Modern commies

To close the racial gap in the U.S. there needs to be “wealth redistribution," not “income transfer,” said Ohio State economics professor Trevon Logan. [...]

“If we're having this discussion of wanting to close the racial wealth gap and we're not calling it reparations, there's a genuine opportunity that the Biden administration could enter into to begin a discussion of how closing the racial wealth gap would be reparations,” Logan said. “The current wealth gap is the net present value of the cumulative effects of dispossession, theft, discrimination, and economic racial oppression.”

What would be the present value of the half million White people who were slaughtered during the Civil War in the 1860s?

Anyway, there is no non-violent solution to this. All the oppressed joggers in America can be gifted a million dollars of assets each and in a matter of a few months, they'll be back to being poor. Racial differences in intelligence, will power, and diligence don't matter. The commies of the racial stripe will find a new way to blame White people and demand more $$$$. It's all so tiresome.


The hidden tax

A very perverse incentive:

If you saved money over the last year, responsibly planning for the future or building up a rainy-day fund, it’s now eroded in real value because the same amount of money buys you less than before. But if you had simply binged your entire paycheck after receiving it, you wouldn’t have lost as much of your real resources. And if you finance your spending binge by running up credit card debt then receive an inflation-fueled pay bump, that debt is easier for you to finance.


Injustice

Housing has been getting quite expensive but what really takes the cake is university tuition. There was a time when diligent students could work in the summer to pay their tuition for the next year. Thus, they would have zero student loans to pay back when they graduated. Now, after university, there's a mountain of debt with stagnant wages and high rents. Add to that the mounting public debt and the ugly conclusion is: Millennials and Generation Zyklon have been robbed.


Nightmare in Canada

The average sale price of a house in Saint John, New Brunswick is $250,000. Right now, the most expensive house for sale in Saint John is priced at $1.2 million. Compare that to Toronto where the average sale price of a detached house is $1.75 million. This will rip apart families and friends:

Soaring home prices in Ontario, which are up between 30-50 per cent from last year depending on the area, are forcing a growing number of residents to give up on their dreams of home ownership.

A new survey by Right at Home Realty found 51 per cent of respondents say they believe they may never be able to afford a home in their current city or town. It gets worse for people looking in the Greater Toronto Area at 55 per cent and 59 per cent in the 416 area code region.

Hamilton, a largely middle class city one hour away from Toronto, has become unaffordable for most:

Vancouver, Toronto and Hamilton are, according to new research, the least affordable cities in North America.

Vancouver was the least affordable city, with Toronto in second place and Hamilton in third. All three are more expensive places to live than New York and L.A.

I have been looking at real estate in the Greater Toronto Area for a few years. It's crazy how a house that would sell for roughly $100,000 in parts of the US can often be priced at a million dollars in Canada. It's simply unattainable for most Millennials and Generation Zyklon in the Crazy North. 


Powered by debt

Millions have lost their jobs or had their pay slashed in the last year. Now, they'll face the full wrath of the money printer:

The invisible tax of rising inflation will do far more to harm working and middle-class Americans than Biden’s proposed tax hikes. The trillions of dollars in congressional spending and money printing from the Federal Reserve is already having a dramatic effect on the price of ordinary goods. [...]

Over the past year, food prices are up 3.5 percent, with eggs and meat up by over 5 percent; gas is up 22 percent and is expected to get even higher by this summer; lumber is up 250 percent; new home prices are up $36,000, with overall housing up 11 percent; and new cars are up 9 percent, the highest in 68 years. In April, 13 percent of new car buyers paid more than the sticker price. Other goods — from household items, baby care and general merchandise — are already up between 5.2 and 7.2 percent from this time last year. The cost of eating out shot up by 3.7 percent over the past year, and some takeout specials such as chicken wings have nearly doubled. Coffee futures are up 24 percent since October. Even growing your own food has surged in price, with the cost of seeds and potted plants jumping by 10.5 percent.

I was thinking about buying a new PC recently. The actual price of the whole build comes out to almost double the MSRP! And that's assuming all the parts are even available for purchase. As of right now, the top three 3000 series GPUs from Nvidia are sold out in Canada.

The primary driver of the current inflation comes through money printing by the Federal Reserve. The Fed nearly doubled its bond purchases since the beginning of the pandemic, pumping almost $4 trillion into the economy. This is about as much as the Fed purchased between 2008 and 2014, during the worst of the Great Recession. From February 2020 to March 2021, the total of circulating cash, mutual funds and banking deposit money supply increased from $15.473 trillion to $19,896 trillion. The Fed effectively monetizes the federal government’s debt, creating both a cover for higher deficits and increasing the money supply further. From 2019 to now, the national debt jumped from just under 80 percent of gross domestic product to over 100 percent.

We had a one-month stock market crash last year. We're due for a giant meltdown like we had in 2000 and in 2008.


Legalized theft

That's in just four months.

If you're in the middle class and you want to sell your assets in New York, then get ready to bend over and pay YOUR FAIR SHARE:

The combined state and federal capital gains tax rate in New York would rise from the current 34.7 percent to 54.3 percent under President Biden’s American Families Plan, according to a new study from the Tax Foundation.

That's a cool $100,000 extra in taxes on the sale of a half-million dollar property.