In the news University of Guelph and Dalhousie University researchers predicts food prices to rise between 1.5 to 3.5 per cent in 2019 for Canadians.
As if the stagnant wages is not enough, Mr PM of Canada wants a national carbon tax stuffed down on everybody. May be he should take a cue from what is Yellow Vests in France.
Stable prices is what the people want. Nobody want to lose purchasing power on their saving and no business want to lose when the new stock is cheaper than existing inventory.
So just why anybody put up with this inflation target nonsense is beyond me. Dr Milton Friedman once said, and I am paraphrasing :
There is only one source and one source only of inflation, when money supply is expanded.
So what does 2% inflation mean to your saving is :
in 10 years 18% purchasing power is lost
in 20 years 33% purchasing power is lost
Inflation is a tax.... Any other way to put it is dishonest.
So does that old saying if your don't hold it you don't own it make more sense now.
Gold Silver any hard asset that can't be printed will always do better in the long game.
Thanks for stopping by.
