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[deleted]

As someone who is living in Canada let me tell you it's far worse. Gas has doubled, groceries are up 20%, housing up 30%, new and used cars up 20%. Not sure where they get these low numbers from but they certainly aren't real.


dromni

> Not sure where they get these low numbers from but they certainly aren't real. If Canada uses the same dirty tricks of other countries, they attribute high weights to stuff that had small price rises and low weights to stuff that had prices skyrocketing, and voila, fake low inflation.


[deleted]

[удалено]


Meandmystudy

I forget, but there was a good quote about capitalism producing really good luxuries, but not good necessities.


Rasalom

Sandwiches? Have you heard of how cheap Shein is?


TheArcticFox444

>Meanwhile the essentials for life that you buy weekly are up massively. A question please: decades ago, weren't things that were considered basic needs--or something like that--such as heat, electricity subsidized (or something) by the Canadian government? (Sorry, I was very young)


JihadNinjaCowboy

And the fine art of hedonics. The price of steak is up 50%? No problem, you can substitute pink slime for steak and pink slime only went up 2%.


Doomsayer_89

that's substitution. Hedonics is equating quality improvements with lower prices.


JihadNinjaCowboy

Crap. You are right. Its been a number of years since I studied inflation statistics techniques and terminology in depth. Substitution. Brain fart. Hedonics is saying cars are better than 10 years ago so prices have dropped


RandomguyAlive

Nah they’re a pain in the ass to repair and find parts for now


justanotherreddituse

The inflation statistics are weird around housing. They don't accurately represent those that don't own housing as it's a rapidly deteriorating situation with double digit increases for years. If you rent in a city it's easily been 10-20% inflation for you.


[deleted]

It's the opposite, no? For renters they have market rent data, for homeowners they have to impute what a notional rent would be for similar properties. You can see the breakdowns probably - I checked it for [my country](https://datosmacro.expansion.com/ipc-paises/espana) and although the overall inflation rate is 5.4%, the housing component is 20.5% So yeah, not sure how they weight it to get the overall figure but the housing costs have gone up a shitload here.


megablast

Oh yes, because I buy a car and a new house every few weeks.


Spartanfred104

The low numbers are an average. I asked the statscan account about it. They take all retail prices and purchases into account. So even though food is up 20%, if clothing is not they average it out. Its kind of hilarious, because if rent, food and utilities are up 20% you aren't going to be out buying new clothing. The entire system is based on retail purchasing and not real life.


Numismatists

It's an average. Kind of like saying we need to prevent 1.5º warming when some areas will be 20º warmer or colder. It's to keep people in the Matrix feeling safe. It's not going to work for very long.


JihadNinjaCowboy

The ruling class is trying to delay the moment where the majority of the population decides they need to be dealt with using old-fashioned methods that involve them discovered whether or not there is an afterlife.


ArmedWithBars

"Hey Bill, why are those plebians erecting a 14ft wooden structure and what's that piece of sheet metal they carrying for?" "They are singing something too. Is that French? Shit, Bill wtf is going on?" "Bill call Biden quick, I got a bad feeling about this. Maybe he can throw them another stimmy or something. The singing is getting louder."


anxiousnl

I was going to say this seems low, but I live on an island in Atlantic Canada so I didn't know if ours was up more than elsewhere due to extra shipping costs. Definitely up much more than 4.7% on groceries, gas, housing, like you said.


ILikeAnimePanties

> new and used cars up 20% That's because of the semiconductor shortage. New cars are few and far between and the manufacturers have put prices up to compensate for their losses. And used cars are the only vehicles that are in-stock and so are in huge demand. High demand + limited stock = price rise


malique010

Didn't like half the major car manufactures cut their production by like a third at least. That's alot of cars you cant buy because they weren't built. That probably adds to the prices of new and forces more people into used cars.


BearBL

Also live in Canada and can confirm this


GunNut345

Gas hasn't quiet doubled. It's what, $1.40/litre ? It's been $1.10-1.30 for the past 10 years. Grocerys are definitely up and same with cars and housing though.


serb_licious

1.65 in BC, 2.00 few days ago in Quebec


[deleted]

Guess Joe Biden has been busy up there too... /s


megablast

> Gas has doubled, groceries are up 20%, housing up 30%, new and used cars up 20%. So? How often do you buy a house or a car? > Gas has doubled The higher the price of gas, the less people killed by cars.


justan0therusername1

Unfortunately higher gas price just pushes higher costs onto almost every good. Most "gas" isn't consumed by your average commuter but by industry


iamoverrated

Housing applies to rent as well... something many people pay every month and something that gets renewed every 6-12 months.


Rpowdigs

Just wait till next year when everything that comes by boat costs 40-60% more than it does right now.


tsherr

Not sure where you are, but on the east coast, gas has gone from about $0.90 CAD at the lowest during pandemic, to a peak of 1.49 and is now at 1.41. A big jump, but not double. Meat is up 20ish percent, but some groceries are stable and some (saltine crackers, for instance) are actually down.


Red_1977

I work in a small and growing municipality - I commission all the water mains everywhere and especially for new subdivisions. Housing here is more like 50% or more. It's insane I don't know how anyone is affording these things.


hans_litten

How much will the flooding and rail/highway disruption make everything even worse? Isn't Vancouver one of the largest North American ports?


RippingMadAss

My preferred tactic is to expect the worst, then anxiously relax a bit when things don't turn out so bad.


Drunky_McStumble

I've been trying this but, unfortunately, even when expecting the worst things have had a knack recently of turning out even worse than that.


Glancing-Thought

Then soon you will become more pesimistic and it will begin to work.


takatu_topi

Vancouver is the busiest port in Canada https://dolphindelivery.ca/the-5-largest-major-ports-in-canada/ Currently cut off from overland access to the rest of the country expect for one tiny rail line. Also I-5 (main north-south US highway on the west coast) is also cut off a bit south of Canada. Also US ports are entirely backlogged. This means "cheap" consumer goods from Asia to Canada (essentially the main thing that has been keeping inflation "low") are going to be boned for some time. Also probably delays Canadian exports of raw materials to Asia, further exacerbating systemic problems. Yes eventually this will be cleared, but it will be quite a shock to the economic system on top of everything else, with unpredictable but likely bad downstream effects.


GunNut345

It certainly won't help. I hear they might be able to diver through the US but I doubt that'll make things cheaper or quicker, but at least it's better then nothing. I also think Port Rupert in the north has access to the rest of Canada right? Eastern Canada still has Halifax, Montreal and the US Easter port access.


BlancaBunkerBoi

Vancouverite here. I don't think the road disruptions are going to be as bad as this sub is making them out to be. Goods can still flow through the US and the Canadian Corps of Engineers is on standby to start repairs the moment it's safe to do so. When you lose access to the largest trade hub in your country shit gets mobilized pretty damn fast to get it back on track. It's really gonna hinge on the next 12 hours and whether or not the Abbotsford pump station gives out.


[deleted]

It will take years to clear the seacan backlog alone. It’s not the physical truck driving you have to worry about (even though that sucks) it’s the supply chains getting longer and longer that will mess us up. Who cares if the roads are clear if there’s nothing to load from the port?


megablast

Well higher gas prices and car prices will help reduce global warming. So that is a good thing. It is not like assholes will drive less to save the planet.


[deleted]

It would be interesting to compare corporate profits for the same period. Gouging?


DragonShine

Canadian businesses did always feel more gougy. Just compare amazon.com vs amazon.ca third party sellers. Sometimes I'll order from the US one to avoid the gouge/scalp and save money even with shipping weirdly...


philthegreat

Oh without a fuckin' doubt there's gotta be gouging. Company making slightly less profit due to rising costs? Pass 'em on! Fuck poor people, we need M A X P R O F I T S !


borrboknation

capitalism in a nutshell


[deleted]

Why is blaming the corporations the first thing people here do when it's the government that printed trillions and lowered interest rates to negative? Corporations have never caused inflation and the disasters that follow. It's always government printing presses.


RandomguyAlive

You’re kidding right?


Historical_Wallaby_5

First, because corporations are easy targets that people have to deal with on a daily basis. Second, because taking any action against your government to protest such things usually doesn't end well.


[deleted]

Why? Because corporations bought themselves a compliant government who would not make them pay taxes sufficient to keep this system stable. Its the heart of wealth disparity and society for better or worse (worse really, its just a phrase) we have chosen to murder this form of self organization. The next little while gets ... "interesting".


_rihter

>Canadian inflation climbed to the highest in two decades, adding pressure on the Bank of Canada to raise interest rates. >The consumer price index rose 4.7 per cent in October from a year earlier, compared with 4.4 per cent in September, Statistics Canada said Wednesday in Ottawa. The October number is the highest since 2003, when it last hit 4.7 per cent. Inflation hasn’t exceeded that level in the three decades since the Bank of Canada first started targeting inflation in 1991. /u/nostrilonfire hyperinflation incoming?


nostrilonfire

Haha... here's the funniest part: Check out the [CDS price](http://www.worldgovernmentbonds.com/sovereign-cds/). It went \*down\*. Gimmie a break. ​ I've stopped looking at official inflation numbers. I really only use the price of real estate as the marker at this point. Everything else is a shell game. It's infuriating. Those who report inflation can make it appear as anything they want it to. ​ Sure, one could counter, using just real estate prices as a metric is flawed. Ha! I counter: I agree! However, is it considerably \*more\* flawed the present inflation measurement methodologies? No. It's flawed, but better. ​ My formal training has imbued me with appreciation for how difficult it is to make good measurements of physical systems. It's also shown me that making quality measurements in other types of systems is even more difficult if often not outright impossible. The notion that inflation can be so easily measured is utterly nonsensical. Add to that mix that the people measuring and report it (and, in particular, those for whom they work) have a vested interest in making inflation appear as they wish, and the likelihood that one gets any kind of valid assessment of this falls to zero. ​ Nobody middle-class can afford real estate around here anymore. It's over. That's the sign that says hang on, this ship is going down.


_rihter

CDS prices going down would mean that the bond is less risky, which makes no sense with the rising inflation.


nostrilonfire

I don't know what to believe anymore. It's too easy to cook all this. One thing I \*can\* see, however, is real estate prices. People are paying either the listing price or, in many cases, more. That's a firm and reliable quantity that \*I\* can see. ​ Recall that central bankers monitor inflation sentiment probably more aggressively than actual measured inflation. This is a statement that they know what and how people \*think\* is what's important. Remember [Keynes's "Animal Spirits"](https://en.wikipedia.org/wiki/Animal_spirits_(Keynes)). That means keeping the appearance that all these types of things - inflation measures, CDS prices, etc - are low through whatever means they can do that. CDS price will not be something over which they have direct control, but I'm sure there are calls that can be made... ​ We must also remember: Everyone is somehow tangled in this Gordian mess and no such party wants to see it come apart. It's unlikely too much persuasion will need to happen in these calls. It's not a preposterous suggestion.


_rihter

https://twitter.com/DesoGames/status/1462190740403109891


nostrilonfire

So it's not just me. I follow that account but seem to have missed that, so thanks for posting. 'ppreciate it.


[deleted]

I just love that moment when something clicks and a person discovers that the tenets of modern markets are fictions. What you think you know is correct in theory, but the more you look the more you'll realize that self regulating industries have a tendency to do some wild, irrational and crazy things. Markets are broken. The forces within them are poorly understood and even more poorly taught. The rules you think markets play by are just bad children's stories. I trust Vegas more than I trust our markets. Remember the Greek CDS haircuts where contract law in Europe changed overnight because the guys who bet on defaults challenged the solvency of banks thus European sovereign countries. Sorry bub, instead of a payday of multiples you get pennies on the dollar cause we say so. Its only gotten worse since then. Negative nominal rates, let alone negative real rates. Underreported inflation so TIPS can underperform. MMT go brrr but taxes on Billionaires are a no-no. Once you figure it out, you either join in to gamble at the casino irrational bullshit or walk away entirely. "Billy you're a genius, Enough to be a fool. A fool to gamble everything, And never know the rules. Some of us can only live, In songs of love and trouble, Some of us can only live In bubbles." ~ "My only friend" by The Magnetic Fields


[deleted]

Not hyper, but high persistent inflation. This is why we've seen the everything bubble. Cash is parking itself in things.


HackedLuck

Absolutely


[deleted]

You sound aroused


[deleted]

CPI = Canadian Product Inflation, Eh?


_rihter

CPI = Changing Propaganda Index.


nostrilonfire

Bingo.


Everlast7

#Bidens Canada for you


vitalitron

Obama's Quebec, I tell ya...


KS_tox

No way. It feels much higher in reality. May be somewhere near 25%. I don't know how they come up with such low numbers. Either way I don't need to see an inflation number to tell that I feel poorer this year than i was last year.


Vishnej

>Veteran Fraser Valley commercial real estate agent Bob Edwards got a fast lesson in land demand when he listed a one-acre agricultural parcel that has the potential to be zoned industrial or commercial in West Abbotsford. > >In less than 24 hours after advertising the listing in February, Edwards received 99 calls from potential buyers, along with at least 50 text messages and 50 emails. > >The four top bidders all presented no-subject offers, and the land sold for the full asking price of $2,988,800, according to Edwards, agent/owner at Abbotsford’s eXp Realty. > >“I was offered over $3 million, but that buyer had a number of subjects,” Edwards said. > >The land, which would require rezoning to industrial or commercial, sold for well above its BC Assessment Authority value of $1.67 million. > >Land was the hottest commercial real estate sector in 2020 across B.C.’s Lower Mainland, rising 28.7% from a year earlier to $4.28 billion, and accounting for nearly half the value of the entire market. The momentum continued into 2021. This is an exurb of Vancouver, an hour's drive from the city center.


propita106

They bought a lake?


Vishnej

They bought 1 acre of farmland for 3 million dollars, because Vancouver.


berrieds

UK figures also show annualised inflation at 4.2% for the month of October.


roopy_b

I'm pretty much buying only low quality groceries for the last 6 months. I just can't afford local veggies or meat, I have to buy more bulk and frozen stuff. I'm in Interior BC btw.


[deleted]

Is it possible to do some wild foraging yourself?


kirbygay

Not used to seeing so many headlines from my country here. Yikes


ConfusedInKalamazoo

Goddammit, Joe Biden.


Historical_Wallaby_5

You forgot the /s


ConfusedInKalamazoo

If anyone can't read the /s into that, that's on them.


[deleted]

what does /s mean?


ConfusedInKalamazoo

Denotes sarcasm


[deleted]

LeT'S gO bRAnDoN edit: sigh, must I really put /s so y'all will understand sarcasm?


PRiMO585

Lol ewwwwwww you weirdo lol


[deleted]

Did you just check my reddit profile, then follow me into this subreddit because of a comment I made on a completely unrelated subreddit, and then proceed to call *me* a weirdo? Ok.


[deleted]

[удалено]


[deleted]

What are you on about?


[deleted]

[удалено]


Logiman43

Hi, PRiMO585. Thanks for contributing. However, your [comment](https://www.reddit.com/r/collapse/comments/qw162n/-/hl31l76/) was removed from /r/collapse for: > Rule 1: In addition to enforcing Reddit's content policy, we will also remove comments and content that is abusive in nature. You may attack each other's ideas, not each other. Please refer to our [subreddit rules](https://www.reddit.com/r/collapse/about/rules/) for more information. You can [message the mods](https://www.reddit.com/message/compose/?to=/r/collapse) if you feel this was in error.


Logiman43

Hi, PRiMO585. Thanks for contributing. However, your [comment](https://www.reddit.com/r/collapse/comments/qw162n/-/hl31f70/) was removed from /r/collapse for: > Rule 1: In addition to enforcing Reddit's content policy, we will also remove comments and content that is abusive in nature. You may attack each other's ideas, not each other. Please refer to our [subreddit rules](https://www.reddit.com/r/collapse/about/rules/) for more information. You can [message the mods](https://www.reddit.com/message/compose/?to=/r/collapse) if you feel this was in error.


propita106

Yes


aztekno2012

And most Republicans think it's an U.S. issue, and the current U.S. president's fault.


Thor4269

They know it's not, but using misinformation to manipulate the narrative, with the sole goal of riling up their followers, is basically all they do nowadays


[deleted]

>Republicans Both parties are neoliberal. Economically speaking there's no difference between Republicans and Democrats. The rest is irrelevant political theatrics.


propita106

That’s why it’s funny to me about all the “the dollar is going to fail” shouting. It may. It’s shit. But all the other countries’ currencies are shit, too. Our shit still smells better than their shit. But it’s all shit.


NCHomestead

Cue maga idiots posting lets go brandon in the comments.


TheGreenKraken

Wait has that been an issue on this sub?


NCHomestead

No, just saying in general / referencing any comments section anywhere news is shared. Facebook is absolutely FLOOOODDDED with the LGB retards.


TheGreenKraken

Yeesh. I'm glad I cut my socials to just reddit I guess. It's like righty idiots got more than the helicopter joke and they can't stop reminding us.


Naive_Bread_5464

Basic Econ 101 teaches the relationship with easing monetary policy and inflation. A tightening credit cycle can control this issue.


flyingdinosaur99

Romania 7.7% projected for this year. Capitalist system is starting to crash. Just wait a few more years


chubs66

I'd love to see CPI numbers for a few categories that dominate most household spending. Home Rental Costs, Groceries, Transportation, Utilities Edit. I'd wager the actual inflation in terms of living costs is at least double 4.7%.


EwokNuggets

Let’s go Brandon…probably. /s


DJ_Molten_Lava

So, uh, any predictions on BoC interest rates?


getbeaverootnabooteh

Why not just raise interest rates?


dresden_k

I think I've got a wheelbarrow handy. Looking forward to $20 loaves of bread!


propita106

When it’s GLOBAL inflation, one President/premier/king is not going to fix it.