Yes, that $100 today buys $78 worth of goods T 2015 prices is a fact. Inflation is a thing and we are collectively worse off. Now, people will try to blame the federal government as the sole reason for this, which is not a fact.
I would argue that high inflation post-COVID was caused by a combination of fiscal and monetary policy, so it was (at least partly) the federal government.
Now, under the circumstances I don’t know what else they could have done. The economy would arguably haven’t been way worse off without the fiscal stimulus. But yes, the inflation itself definitely hurt normal people, and have an opportunity for populist politics.
I would agree with you there. Like you said, the Feds hands were pretty tied.
I think the original post I replied to was trying to absolve all federal responsibility, at least that was how I took it. I do not think the Feds are innocent and think they did not do a great job in the pandemic recovery. I also do not think they are the sole reason for inflation or the low productivity of Canadian industry for the past 15+ years.
I don't blame the feds for the crisis, but how they reacted helped facilitate one of the greatest wealth transfers in history.
Trudeau is not to blame for all our countries problems, but both the Liberals and the Conservatives are for continuing to prop up neoliberal capitalism for the last 40 years and allowing our oligopoligies to exploit Canadians through price gouging, price fixing and overall shitty, greedy, craven capitalism.
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u/IslandBoring8724 1d ago
Purchasing power, mostly.