Opinion: Taming inflation won’t bring prices back down; The Bank of Canada’s 2% target means prices rise 50% every couple of decades. Is that really good for us and our economy?
https://financialpost.com/opinion/taming-inflation-will-not-bring-prices-back-down
12 Comments
I don’t think we really have a choice …
Rose by that much in the last 5 years…
We can make up for it with wage growth, as soon as they stop oversaturating us with foreign workers who see the peanuts offered by our corps as gold that we’re pressured to take lower pay to be seen as competitive as them.
Inflation is a fact of life. The problem is price gouging from companies with record profits. What does 2% mean when a company makes an extra 30% in a year and pays it all out in buy backs and dividends.
Inflation has always been 2 to 4 percent a year. The issue that right wing that controls private media avoid is that business is suppressing wages
Deflation is not a good thing.
Yes, the 2-3% target is good.
Why does the BoC want inflation at 2%? Wouldn’t 1% be better? Serious question. I just have no idea where the rationale for 2% comes from.
its a terrible system, im worse off than my parents were, our family company does 3 times the revenue and me and my brother work side jobs as well. We are getting royally fucked wage suppression is going to be the enemy, but at the same time the cost of doing business gets soo high the risk reward becomes difficult to justify. My cashflow is more than what I make in 2 years, If I have a bad season or something doesnt pan out I am no longer out a bit of change, I’m out my salary and then some
Canadians need to come to the conclusion that the government is no longer taking care of its citizens in any capacity, and the only decision we have left is to intimidate them into doing their job. We have the 2nd highest paid politicians in the world and nothing to show for it.
No one ever said 2% was the magic number. They said 2% *maximum.* Right now, we should be aiming for 0% inflation, not 2%.
Large incentives for small business would promote competition and legislation stopping out of control monopolies , this would help bring prices down. Prices won’t come down when corporations work for and maximize profits for share holders.