Inflation is killing the economy. In Canada it’s getting out of control. Gas prices are rising, but wages are not. Gas prices in Nova Scotia are around $2 per litre. I remember during COVID it was 70 cents per litre. In this blog post, I really want to talk about how inflation is putting pressure on the economy.
We still haven’t found any solution to the Iran war. Iran has said many times that it wants to make a deal. Iran has also said many times that it’s even ready to open the Strait of Hormuz. President Trump, on the other hand, is in no mood to make any deal. He has said many times that the Iran war will be done soon. It will be done very soon, and when the war is over, gas prices will plummet. He has been saying this for many months, and now I don’t take his words seriously. I’m pretty sure that by now no one takes him seriously. He is basically saying all of this to manipulate the market.
Because of his illegal war against Iran, Americans have paid $74.4 billion more on gasoline and $47.5 billion more on diesel since March 1 compared to a year ago. That’s $122 billion of disposable income gone up in smoke because elected Republicans refuse to say “no” to Trump. Analyst Patrick De Haan from GasBuddy reports Americans have paid $47.5 billion more for diesel and $74.4 billion more for gasoline since March 1, totaling about $122 billion as of September 29. National diesel averages recently topped $6.40 per gallon, up 74% over the past year, with sharp weekly gains of 24 cents in one week and 56 cents in two. These rises, varying by state especially in the Midwest and South, threaten higher costs for trucking, farming, food, and goods, while political reactions blame policies, international conflicts, or past decisions.
Here in Canada, things are not any better. You can blame Trump only so much. The Liberals have all the money in the world to give to Ukraine and other countries, but when it comes to Canadians, they don’t have any. The trade war between Canada and the USA is getting worse day by day. Trump already said that Canada is one of the worst countries to deal with when it comes to trade because Canadian negotiators are arrogant. No doubt most Canadians are supporting Carney because of the trade war, but any tariffs on American goods are ultimately hurting the Canadian economy. The supply cartel also has a tight grip on the Liberal Party. Instead of being arrogant and turning the whole situation into a theme of hating Americans, Carney needs to work. He needs to put the politics aside and work for Canadians.
It is our stupid politicians who have made inflation worse. They go on spending money on non-productive projects. They are giving money away to other countries. No wonder our roads, hospitals, and schools are not world class. High taxes and uncontrolled spending are destroying the Canadian economy for good.
