"No wonder we have the worst inflation in four decades.”
My initial answer to this headline is "stupidity". As in Justin Trudeau must be a complete idiot. That may indeed be true but in this case I think it is more that he thinks his voters are the idiots. I guess that depends on whether they believe this load of crap.
Whatever Trudeau may think (or wants you to think), Grocery stores did not all get together in a scheme to make stuff more expensive for their customers. Grocery stores are raising their prices because the prices they pay are higher as well. While rising prices can have multiple contributing factors, it is pretty clear that inflation is one of the biggest in this case. When I speak of "inflation" here, I am referring to the more traditional definition of an increase in the money supply.
This inflation of the money supply comes primarily form increased government borrowing and spending. The government cannot borrow and spend in unlimited quantities without out it having adverse effects on the economy. In this case, the money supply in Canada grew 32% in three years. This is nothing more than a form of currency devaluation. It's not so much that food costs more, it's that the Canadian dollar is worth less. The same is true of the U.S. Dollar for much the same reasons. In fact, the U.S. money supply grew by almost exactly the same percentage during the same time period. At least Biden isn't threatening to levy extra taxes on grocery stores. Best not to give him any ideas.
Trudeau is trying to deflect the blame from where it belongs, on his own policies, to someone...anyone else. But what do you think the effect of an additional tax on grocery stores would have on prices? Common sense would say that increased costs get passed on to the consumer.
Instead of trying to drive Canada's economy into the ground, Trudeau should try to revive his hit music career:
