January 25, 2023
The Bank of Canada announced an interest rate hike – again.
When will the madness end? They claim that making things cost more will stop rising inflation. I may not be a genius but that seems backasswards. I guess they think that people will stop spending if they keep upping the cost of borrowing money.
Yet the ones with the money don’t care. And those who are struggling to make ends meet are the ones who hurt the most.
What the hell is going on?
I’m pretty sure the Bank of Canada doesn’t know. And the government of Canada isn’t far behind. Let’s get this straight, you increase the cost of borrowing money so that people slow down spending it, and as a result, inflation is slowed down as well. But if you increase the cost of borrowing money doesn’t that also increase the cost of everything else? And by raising rates they actually increase the cost of living.
Who cares if inflation is slowed if everyone is so broke they can barely pay their mortgage?
I know I don’t.
The good times are coming to an end and echoes of the word recession bounce in the wind. I hope we can survive another season on the boats. I hope not too many people lose their homes.
But hope only goes so far. Reality strikes and people are losing their homes. Our government in its wisdom borrowed the country into the deepest debt ever seen. And our illustrious leader claimed it was fine because interest rates were so low.
Now, what does he have to say when interest rates are the highest they’ve been in twenty years?
Nothing, that’s what Mr. Trudeau has to say. Not a single thing. He just lets the country sink deeper into debt and goes off on tangents about inclusion and reconciliation. Who cares about any of that if things cost so much we can’t pay our bills?
And on the other side, we have Pierre Poliviere – Trump Lite. The best thing he has said was he would fire the president of The Bank of Canada. I feel like our country is stuck in the twilight zone. It’s like a bad disaster movie with no plot and no end in sight. I can’t believe I actually miss Jean Chretien and Brian Mulroney, they at least seemed like they knew what they were doing. Even Chretien, who couldn’t speak either of our two official languages.
And the rich keep getting richer.
One day the madness has to end. The good times will return and sanity will prevail. It has too.
In the meantime, we must live every day one at a time, and enjoy what we do have. Life is short, live it to the fullest. Get outside, and enjoy every moment. Go skiing!
Jim · January 26, 2023 at 8:14 am
…”couldn’t speak either of our two official languages” …really enjoyed that!! 🙂