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Inflation set to hit 30-year high

The last time inflation hit 5% was in 1991 when it hit 5.63%.

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Wallet-busting inflation in Canada isn’t going away anytime soon, says Blacklock’s Reporter.

In fact, inflation will run “close to 5%” this winter and remain higher than originally forecast through 2023, said Bank of Canada Governor Tiff Macklem.

The last time inflation hit 5% was in 1991 when it hit 5.63%.

Macklem stopped short of advocating a rise in interest rates to control prices.

“We recognize inflation is actually likely to move a little higher in the remaining months of this year,” said Macklem.

“It’s currently running around 4.5%. We think it’s going to move up close to 5%. Then over the course of next year, we think it will come back down.”

The Bank forecast inflation next year of about 3.4% “before returning gradually toward target in 2024,” about 2%.

“Inflation was about 4.5% in September and is expected to rise and average around 4.75% over the remainder of 2021,” wrote analysts.

Macklem said the Bank is “facing a very unusual situation” but would keep prices under control.

He did not explain how, or whether Canadians should soon expect higher interest rates.

“Can you tell them what exactly the plan is?” asked a reporter.

“I want to assure Canadians that we can and we will keep inflation under control,” replied Macklem.

“We understand what our job is.”

“What is the real danger here if they don’t believe that message?” asked a reporter.

“Inflation will ease back down,” replied Macklem.

Rising costs contradict repeated forecasts by the Bank and Macklem, including testimony at the Commons finance committee where he assured MPs:

  • “If there is an unexpected rise in inflation, and I don’t anticipate that’s going to happen, we have all the tools” (June 16, 2020);
  • “Inflation is projected to remain less than two percent into 2023” (November 26, 2020);
  • “We anticipate inflation will rise further to around the top of our 1 to 3% inflation control target” (April 27, 2021).

“We know higher prices are challenging Canadians and making it harder for them to cover their bills,” Macklem said Wednesday.

“I want to assure you inflation is not going to stay as high as it is today, even if it is going to take somewhat longer to come down.”

Statistics Canada in an October 18 account of selected average food prices said annual price increases nationwide ranged up to 17% for oranges, 21% for apples, 22% for bacon, 28% for chicken, 29% for pork ribs and 42% for butter.

“Think about it, you’ve got a finance minister who has given us hundreds of billions of dollars of inflationary deficits with more to come,” Conservative MP Pierre Poilievre (Carleton, Ont.) told reporters.

Inflation spells “higher costs for fuel, food and housing,” he said.

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2 Comments

2 Comments

  1. John Lankers

    October 28, 2021 at 11:18 am

    Hang on to your hats. If you have any spare money left then spend it on non perishable food and put it away, it’s going to get ugly.

  2. Dennis

    October 28, 2021 at 10:54 am

    Naw, just print some more money, interest rats are so low we cant go wrong. This will work itself out. Just wait and see. The budget with balance itself. Tax the rich. Fire all those unvaxed workers. Pay everyone to sit on their ass and get paid by the government.
    Geeez, are people that friggin stupid that they couldn’t see this shit coming? And we ain’t seen the worst of it yet.

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Calgary lawyer applauds Shell’s reversal of vax mandate

“The woke thing to do right now is bring in these mandates. It has nothing to do with science or safety,” said lawyer James Kitchen.

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In the wake of Shell Canada temporarily removing its mandatory vaccine policy at its Scotford site in Alberta, Calgary lawyer James Kitchen called it a “good and lawful” move.

Kitchen — a civil litigation lawyer focused on constitutional rights, human rights, and health freedom — represents a number of clients in the oil and gas sector, including CNRL staffer Naomi Smart who was the first employee dismissed without cause for refusing to adhere to the mandatory vaccine policy.

“There are two potential things happening here,” Kitchen told the Western Standard in reference to Shell’s decision to change its vaccine policy at the Scotford site.

“Either Shell is concerned with defending themselves legally — as the vaccines have little to no effect on transmission — or, there are decent human beings (who) run Shell who are looking at the science and they realize this is the sensible thing to do.”

Kitchen said Shell could be “showing some good business sense” and now, after “spending all this money and realizing nothing we do will stop it (the spread of COVID-19),” they are looking to get back to work.

“The woke thing to do right now is bring in these mandates. It has nothing to do with science or safety,” said Kitchen.

When asked if the move from Shell to reverse its vaccination policy might affect the outcome of current legal cases — including some of his own — Kitchen said he’s doubtful.

“Generally speaking, the court doesn’t care. The industry does what it wants so in a strictly legal sense, no. But in a broader sense, it does matter,” said Kitchen.  

“It’s like a band-wagon effect,” he said adding if other companies follow suit, “it could give pause and change course for policymakers.”

“I don’t expect others to follow, but I’m hopeful,” said Kitchen.

Kitchen applauded Shell for what he called, “the most reasonable, lawful positions I’ve seen in a long time.

“They have chosen not to be willfully ignorant of what is good, right and lawful and have chosen against coercion and tyranny,” said Kitchen.

“I hope it’s a harbinger of things to come.”

Melanie Risdon is a reporter with the Western Standard
mrisdon@westernstandardonline.com

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Madu called Edmonton police chief after getting $300 distracted driving ticket

Mount Royal University political science professor Duane Bratt says Kaycee should resign.

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After being pulled over by Edmonton police for talking on his cellphone while driving through a playground zone, Justice Minister Kaycee Madu then dialled up Edmonton’s police chief, CBC is reporting Monday afternoon.

CBC says they have a copy of Madu’s March 10, 2021 ticket that shows he was fined $300.

He soon phoned Dale McFee, the city’s chief of police, and discussed the ticket with him. 

“Minister Madu did contact me via the telephone concerned about a ticket. But just to be very, very clear, he never asked to get out of the ticket,” McFee told CBC News in December, adding he didn’t know exactly what was on the ticket.

“Everybody has to wear their decisions.”

McFee did say during their discussion, Madu brought up the issue of racial profiling by police to stop drivers. Madu is black.

The chief also said the pair talked about the ongoing problem of political tensions within the Lethbridge Police Service.

According to court documents, Madu paid the fee by the end of that week, CBC reports.

The Western Standard has reached out to Madu for a statement but hasn’t heard back.

The NDP quickly called for Madu to resign.

“It is wholly unacceptable for the Attorney General to engage with senior law enforcement regarding a penalty levelled against him, said NDP MLA Irfan Sabir.

Mount Royal University political science professor Duane Bratt says Kaycee should resign.

“Even if Madu didn’t call the police chief, it is a major story for the Justice Minister to receive a distracted driving ticket in a school zone. Even if it was somebody else who got the ticket (family, friend, neighbour, acquaintance, stranger), Madu still can’t call the police chief about an active case,” tweeted Bratt.

“Either Madu didn’t know that it was inappropriate to call the police chief about a ticket (which is really bad), or knew and didn’t care (which is even worse). Regardless, Madu needs to step down.

“Jean Charest resigned in 1990 as Minister of Sport for calling a judge about a case. Calling a police chief about a case is very similar. Madu needs to resign, or Kenney has to fire him.”

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New Virginia Gov cancels vaccine and mask mandates first day in office

Youngkin’s second order was the elimination of mask rules for students in the state’s schools and his last directive was to abolish the vaccine mandate for state employees.

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New Virginia Governor Glenn Youngkin ain’t fooling around.

On his first day in office, the new Republican governor brought in a plethora of conservative orders and canceled many liberal ones after being sworn in on Saturday.

The 55-year-old for a former private equity CEO campaigned on a pledge to get rid of the teaching of critical race theory (CRT) from state classrooms. CRT is an academic practice that examines the ways in which racism operates in US laws and society.

After taking the oath of office, Youngkin moved on nine executive orders and two executive directives, with the first on the list described as a directive to “restore excellence in education by ending the use of divisive concepts, including Critical Race Theory, in public education,” as reported by the Guardian.

A total of 22 states have now taken steps to limit the teaching of CRT.

“There’s no place for critical race theory in our school system, and that’s why, on day one, I’m going to ban it,” Youngkin said in an interview with Fox News in the closing days of the campaign last fall.

Youngkin’s second order was the elimination of mask rules for students in the state’s schools and his last directive was to abolish the vaccine mandate for state employees.

Currently, COVID-19 cases in Virginia are up 288% in comparison to last winter.”

A total of 15,803 have died in the state from the virus since the pandemic began.

State Democrats, who hold a majority in Virginia’s Senate, have vowed to oppose Youngkin’s orders, meaning they are unlikely to become law.

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