Quote of the Day: “Often it is those who are most critical of a Eurocentric view of the world who are most Eurocentric when it comes to the evils and shortcomings of the human race.” Thomas Sowell
Great Editorial on the Chinese spy balloon today!!! Everyone should read this and wonder just what Canada’s leaders are doing… And also wonder why Trudeau is so hesitant not to provoke and say anything against the Chinese.
David Macdonald’s bio on the Opinion Page today claims that he is a Senior Economist with the Canadian Centre for Policy Alternatives (CCPA). And exactly what formal training does Macdonald have in the field of Economics? Oh, he has a MA in Philosophy. Well, that makes me far more of an Economist than he will ever be since I actually have paper on my wall from WLU that proves my Economics credentials. But whatever… The CCPA can call him whatever it wants, I guess. Today, his pathetic little op-ed is on the rate increases over the last few months from the Bank of Canada in their feeble attempt at curbing inflation. But he actually says something semi-intelligent when he states: “The Bank of Canada’s target is to bring inflation down to two per cent, but its strategy to achieve this with higher interest rates is failing on two major counts: it does nothing to lower the cost of everyday necessities like groceries or gas, and it’s leading to higher inflation in housing-related prices.” Correct. When Trudeau devalued the Canadian Dollar by “printing” money, he grossly increased the supply of money. If the supply of goods and services does not increase as much as the supply of money, then the prices of goods will naturally go up. Each dollar becomes less valuable because there are far more dollars chasing goods. This isn’t some sort of magic – it’s just clear economic thinking. But Macdonald wouldn’t dare blame the government for this mess. Instead he asks: “Interest rate increases are putting chronic stress on many Canadian households and it’s not even working to decrease inflation. So why is the Bank of Canada persisting with a failing policy rather than reversing course?” Because they have no other choice. Moron.