Warhippy Posted January 7, 2022 Share Posted January 7, 2022 7 hours ago, Ilunga said: The biggest con of all is how they have convinced a large percentage of our populace their greed is justified. I'd add how they convinced a person making $50k or under that them being taxed for making a million a month is a bad thing. Elon Musk makes #30+ billion in one day and the masses of $30k a year labourers think he's justified to it because they don't understand he pays. But pays a LOT less than them. Link to comment Share on other sites More sharing options...
Bure_of_94 Posted January 7, 2022 Share Posted January 7, 2022 22 hours ago, Warhippy said: 18 year high...so far I think this will shake out at the highest that's ever been seen. Link to comment Share on other sites More sharing options...
Warhippy Posted January 7, 2022 Share Posted January 7, 2022 56 minutes ago, Bure_of_94 said: I think this will shake out at the highest that's ever been seen. 20 cent overnight jump at the pumps. Roads closed everywhere due to snow and avalanche risk. More supply issues You know it's gonna jump hard 1 Link to comment Share on other sites More sharing options...
Gurn Posted January 7, 2022 Share Posted January 7, 2022 1 hour ago, Warhippy said: 20 cent overnight jump at the pumps. Roads closed everywhere due to snow and avalanche risk. More supply issues You know it's gonna jump hard Powell River gas up to 169.9- jumps 5 cents. Meanwhile Courtney gas is 157.9 at Costco. 166.9 at the other Courtney area pumps. Keep in mind Powell River does not pay transit tax on gas. Link to comment Share on other sites More sharing options...
Warhippy Posted January 7, 2022 Share Posted January 7, 2022 7 minutes ago, gurn said: Powell River gas up to 169.9- jumps 5 cents. Meanwhile Courtney gas is 157.9 at Costco. 166.9 at the other Courtney area pumps. Keep in mind Powell River does not pay transit tax on gas. Penticton BC 136.7-156.7 in one afternoon. Kelowna is the same. It's insane 1 Link to comment Share on other sites More sharing options...
Warhippy Posted January 12, 2022 Share Posted January 12, 2022 US in trouble at the moment. https://www.cbc.ca/news/business/us-inflation-40-year-high-1.6312003 Canada to follow. Link to comment Share on other sites More sharing options...
Warhippy Posted January 19, 2022 Share Posted January 19, 2022 Did someone say 18 year high? I think they meant 30. Remarkably, people still want to try to pin the finger on any one person instead of the economy across the globe as a whole. https://www.cbc.ca/news/business/inflation-canada-1.6320085 Link to comment Share on other sites More sharing options...
RUPERTKBD Posted March 10, 2022 Share Posted March 10, 2022 While there are still issues with inflation and particularly high gas prices, (which look to be unlikely to change anytime soon, thanks to the Russian invasion of Ukraine) it appears as though all the doom and gloom predictions from the effects of Covid-19 spending might be a tad overstated..... https://www.msn.com/en-ca/money/other/most-canadian-provinces-have-roared-back-amid-disappearing-covid-deficits-report/ar-AAURLPt?li=AAggNb9 Quote Most Canadian provinces are on track to have their deficits recovered much faster than expected despite massive COVID-related expenditures, according to a new report from the Canadian Centre for Policy Alternatives (CCPA). The report, Disappearing Act: The state of provincial deficits in Canada, that CCPA senior economist David Macdonald released Thursday, finds that the provinces overall are in better fiscal shape than after the last recession. Nine out of 10 provinces are paying less interest now, as a proportion of GDP, compared to after the Great Recession in 2009-10, the report showed. As a result, paying less interest is saving the provinces a combined $6 billion in 2021-22 alone, the report showed. "The important thing to take away from this is that these deficits are no longer being caused by COVID-19. In fact, the economies have roared back for most provinces," said Macdonald, the report's author. According to Statistics Canada, the economy grew 4.6 per cent in 2021, compared with a decline of 5.2 per cent in 2020, the first year of the COVID-19 pandemic. GDP growth in the fourth quarter came in at an annualized rate of 6.7 per cent . Macdonald also explained that the initial deficit estimates from the provinces at the beginning of the pandemic were far off the mark. "Provincial cupboards aren’t bare, instead they’ve been stuffed with federal cash through major direct transfers and indirectly through the roaring economic growth federal spending created,” said Macdonald. More in the link..... 1 Link to comment Share on other sites More sharing options...
erkayloomeh Posted March 15, 2022 Share Posted March 15, 2022 On 10/20/2021 at 2:04 PM, DrJockitch said: He is fully responsible for the global supply chain problems. How can the Americans blame Biden, don't they know it was Trudeau. Can you fill me in? Link to comment Share on other sites More sharing options...
Warhippy Posted March 15, 2022 Share Posted March 15, 2022 On 1/7/2022 at 11:54 AM, Warhippy said: Penticton BC 136.7-156.7 in one afternoon. Kelowna is the same. It's insane Man...those were the days 1 1 Link to comment Share on other sites More sharing options...
Warhippy Posted March 22, 2022 Share Posted March 22, 2022 So I had to share this in the appropriate place. @nuckin_futz posted this elsewhere regarding wheat/fertilizer and potential food issues. I felt that this is appropriate to continue this conversation here. For the first time in my adult life I am genuinely concerned about things from a purely economic stand point for the average person. I hate to say this but I've actually bought a bunch of yeast and flour to start making my own bread. I've also bought a fair amount of oats to supplement. $5 loaves of bread and $8 heads of lettuce I was saying about 3 weeks ago. I might have been generous with that. The bigger issue here in canada is how this potential food inflationary issue also ties in to current existing economic crisis' I will use Penticton as my metric. Our post tax median income in penticton is only $2300 or less per month. Our average priced 1 bedroom is now approaching $1500. This is without the included utilities and essentials such as gas, cell/phone, internet, insurance etc. When we then factor in a potential 30% increase in basic food costs as well as watching fuel spike almost 60 cents a litre with zero reductions since oil fell again; we know full well what the inevitable outcome is. It was barely 8 months ago that saw Canadians owing $1.71 for every dollar earned per person. Less than 14 months ago when a report said most Canadians were only about $240 a month in increased costs from potential insolvency/bankruptcy This would be the full tilt catalyst from any essential PEST analysis that sees every major factor of concern in play. Pay off your debts people. 1 Link to comment Share on other sites More sharing options...
nuckin_futz Posted March 22, 2022 Share Posted March 22, 2022 3 minutes ago, Warhippy said: So I had to share this in the appropriate place. @nuckin_futz posted this elsewhere regarding wheat/fertilizer and potential food issues. I felt that this is appropriate to continue this conversation here. For the first time in my adult life I am genuinely concerned about things from a purely economic stand point for the average person. I hate to say this but I've actually bought a bunch of yeast and flour to start making my own bread. I've also bought a fair amount of oats to supplement. $5 loaves of bread and $8 heads of lettuce I was saying about 3 weeks ago. I might have been generous with that. The bigger issue here in canada is how this potential food inflationary issue also ties in to current existing economic crisis' I will use Penticton as my metric. Our post tax median income in penticton is only $2300 or less per month. Our average priced 1 bedroom is now approaching $1500. This is without the included utilities and essentials such as gas, cell/phone, internet, insurance etc. When we then factor in a potential 30% increase in basic food costs as well as watching fuel spike almost 60 cents a litre with zero reductions since oil fell again; we know full well what the inevitable outcome is. It was barely 8 months ago that saw Canadians owing $1.71 for every dollar earned per person. Less than 14 months ago when a report said most Canadians were only about $240 a month in increased costs from potential insolvency/bankruptcy This would be the full tilt catalyst from any essential PEST analysis that sees every major factor of concern in play. Pay off your debts people. Cheers Hip. I might as well post the thing in here.................. A good opinion piece on the agriculture fallout from this conflict. .... Rising food prices are going to be a global catastrophe and few are working to stop it The coming food crisis is the most obvious global catastrophe in decades I feel almost a compulsion to scream from the rooftops that we're barrelling towards the starvation of millions of people, or a series of developing world tragedies sparked by food and energy scarcity. Planting season is about to start in the northern hemisphere and CRU today reported that its fertilizer index hit an all-time high. They note that nitrogen broke its record weeks ago, potash more recently and that they think phosphate will do so in the coming next, with further gains to come for all of them. Demand destruction is starting as farmers reel from sticker shock. Brazil now says it is targeting reducing fertilizer usage by 20% for the 2022/23 growing season. Expect farmers elsewhere to try to do the same. Of course, less fertilizer means a lower harvest. Ukraine just announced that it may cut its spring planting area to 7 million hectares from 15 million due to hostilities. Ukraine and Russia combine for about a quarter of global wheat production. On top of that, there has been a drought in Argentina and precipitation levels have been low in Europe. A key input in fertilizer is natural gas and that's in short supply with nitrogen production in parts of Europe being curtailed. So much political effort is being forced into the war right now that we're running out of time to take action to solve this. For one, the US is gearing up to plant far more corn that it needs with much of it going into ethanol. Every effort should be made to redirect that towards wheat, with whatever subsidies are necessary to keep the world supplied. Other wealthy countries can do the same. Then we have to pray there's good weather for this growing season. Signs so far aren't great with the US NOAA warning about that drought conditions are in play in 60% of the US. Chinese officials are already warning about poor crops as well. I'm certainly not an agricultural analyst but I'm certain that high prices of commodities will cause immense suffering in impoverished parts of the world and lead to instability and further suffering as a result. US wheat Christophe Barraud has more on the looming crisis. 1 Link to comment Share on other sites More sharing options...
thedestroyerofworlds Posted March 22, 2022 Share Posted March 22, 2022 I'm guessing all that food that ends up in the garbage will start to find a way into people's bellies. Off grade food that rots in the fields. There is enough food that ends up in the trash that could easily feed the people who have none. https://www.epa.gov/facts-and-figures-about-materials-waste-and-recycling/food-material-specific-data Link to comment Share on other sites More sharing options...
Warhippy Posted March 22, 2022 Share Posted March 22, 2022 12 minutes ago, nuckin_futz said: Cheers Hip. I might as well post the thing in here.................. A good opinion piece on the agriculture fallout from this conflict. .... Rising food prices are going to be a global catastrophe and few are working to stop it The coming food crisis is the most obvious global catastrophe in decades I feel almost a compulsion to scream from the rooftops that we're barrelling towards the starvation of millions of people, or a series of developing world tragedies sparked by food and energy scarcity. Planting season is about to start in the northern hemisphere and CRU today reported that its fertilizer index hit an all-time high. They note that nitrogen broke its record weeks ago, potash more recently and that they think phosphate will do so in the coming next, with further gains to come for all of them. Demand destruction is starting as farmers reel from sticker shock. Brazil now says it is targeting reducing fertilizer usage by 20% for the 2022/23 growing season. Expect farmers elsewhere to try to do the same. Of course, less fertilizer means a lower harvest. Ukraine just announced that it may cut its spring planting area to 7 million hectares from 15 million due to hostilities. Ukraine and Russia combine for about a quarter of global wheat production. On top of that, there has been a drought in Argentina and precipitation levels have been low in Europe. A key input in fertilizer is natural gas and that's in short supply with nitrogen production in parts of Europe being curtailed. So much political effort is being forced into the war right now that we're running out of time to take action to solve this. For one, the US is gearing up to plant far more corn that it needs with much of it going into ethanol. Every effort should be made to redirect that towards wheat, with whatever subsidies are necessary to keep the world supplied. Other wealthy countries can do the same. Then we have to pray there's good weather for this growing season. Signs so far aren't great with the US NOAA warning about that drought conditions are in play in 60% of the US. Chinese officials are already warning about poor crops as well. I'm certainly not an agricultural analyst but I'm certain that high prices of commodities will cause immense suffering in impoverished parts of the world and lead to instability and further suffering as a result. US wheat Christophe Barraud has more on the looming crisis. What, in your opinion; with the massive increase of 60 cents a litre at the pump with nil reduction, coupled with the rise in food prices; is our most logical next step regarding inflation? Do you think the government steps in harder? Do we see a series of sudden hikes? Or will this be enough to start that chain reaction over the next 6 weeks so many have feared will happen? I ask as a genuine source of curiosity because after 1 small rate hike; people are already worried because an estimated 82k mortgages are due for renewal in Canada within the next 2 financial quarters and we're less than 5 months from property taxes being due. This is without mentioning how many "reverse home mortgages/loans" are potentially due as well. All this on the backs of major credit operators such as Visa and Mastercard reportedly in trouble due to defaults on mandatory minimum payments. Like, what kind of steps or potential tumbles can we expect? Link to comment Share on other sites More sharing options...
Warhippy Posted March 22, 2022 Share Posted March 22, 2022 8 minutes ago, thedestroyerofworlds said: I'm guessing all that food that ends up in the garbage will start to find a way into people's bellies. Off grade food that rots in the fields. There is enough food that ends up in the trash that could easily feed the people who have none. https://www.epa.gov/facts-and-figures-about-materials-waste-and-recycling/food-material-specific-data I can see numerous food related restrictions being rescinded again. Like day old baked goods going to soup kitchens again and vehicle killed large game being quartered for food banks like in the past. 1 Link to comment Share on other sites More sharing options...
nuckin_futz Posted March 22, 2022 Share Posted March 22, 2022 (edited) 19 minutes ago, Warhippy said: What, in your opinion; with the massive increase of 60 cents a litre at the pump with nil reduction, coupled with the rise in food prices; is our most logical next step regarding inflation? Do you think the government steps in harder? Do we see a series of sudden hikes? Or will this be enough to start that chain reaction over the next 6 weeks so many have feared will happen? I ask as a genuine source of curiosity because after 1 small rate hike; people are already worried because an estimated 82k mortgages are due for renewal in Canada within the next 2 financial quarters and we're less than 5 months from property taxes being due. This is without mentioning how many "reverse home mortgages/loans" are potentially due as well. All this on the backs of major credit operators such as Visa and Mastercard reportedly in trouble due to defaults on mandatory minimum payments. Like, what kind of steps or potential tumbles can we expect? Inflation by definition is 'too much money chasing too few goods'. So you either massively increase production. The current supply chain issues make that even harder to do than normally. Or you remove monetary liquidity from the system by hiking interest rates. So yeah, interest rates are going to rise. In this country our rates never really diverge much from the USA. So the Federal Reserve is key to look at. After years of near zero rates the Federal Reserve finally hiked in their last meeting from .25% to .5%. I believe they meet another 6 times this year. I could easily see a .25% hike at every meeting. Which would put rates at approx 2% by the end of 2022. People who have been gorging on debt with an assumption that rates wouldn't rise are in for a rude awakening. Edited March 22, 2022 by nuckin_futz 1 Link to comment Share on other sites More sharing options...
Warhippy Posted March 22, 2022 Share Posted March 22, 2022 4 minutes ago, nuckin_futz said: Inflation by definition is 'too much money chasing too few goods'. So you either massively increase production. The current supply chain issues make that even harder to do than normally. Or you remove monetary liquidity from the system by hiking interest rates. So yeah, interest rates are going to rise. In this country our rates never really diverge much from the USA. So the Federal Reserve is key to look at. After years of near zero rates the Federal Reserve finally hiked in their last meeting from .25% to .5%. I believe they meet another 6 times this year. I could easily see a .25% hike at every meeting. Which would put rates at approx 2% by the end of 2022. People who have been gorging on debt with an assumption that rates wouldn't rise are in for a rude awakening. Do you see the potential for major or massive amounts of defaulted debt, foreclosures in the next 2 quarters with these increases and the price of fuel and food skyrocketing? Link to comment Share on other sites More sharing options...
nuckin_futz Posted March 22, 2022 Share Posted March 22, 2022 (edited) 12 minutes ago, Warhippy said: Do you see the potential for major or massive amounts of defaulted debt, foreclosures in the next 2 quarters with these increases and the price of fuel and food skyrocketing? If the time frame in question is 2 quarters then my answer is no not really. Within the next 2 quarters there is potential to see rates rise to 1.5%. Historically that's nothing. I think there's potential for the type of widespread financial chaos you're talking about if and when we get to about 3.5%. Edited March 22, 2022 by nuckin_futz Link to comment Share on other sites More sharing options...
Warhippy Posted March 22, 2022 Share Posted March 22, 2022 8 minutes ago, nuckin_futz said: If the time frame in question is 2 quarters then my answer is no not really. Within the next 2 quarters there is potential to see rates rise to 1.5%. Historically that's nothing. I think there's potential for the type of widespread financial chaos you're talking about if and when we get to about 3.5%. with how dramatically fuel prices have risen, I can see food prices following very quickly. it's those extra day to day costs, not the month to month I am wondering about. The sudden surge of things and sustained increases without reduction in prices is what I have questions about. I feel as though an additional 2% is more than reasonable but with these extra costs is it enough to break people? Gas has retreated almost what, $37? but at the pumps it has dropped barely 5 cents. Those costs will be passed on in a big way. Link to comment Share on other sites More sharing options...
nuckin_futz Posted March 22, 2022 Share Posted March 22, 2022 10 minutes ago, Warhippy said: with how dramatically fuel prices have risen, I can see food prices following very quickly. it's those extra day to day costs, not the month to month I am wondering about. The sudden surge of things and sustained increases without reduction in prices is what I have questions about. I feel as though an additional 2% is more than reasonable but with these extra costs is it enough to break people? Gas has retreated almost what, $37? but at the pumps it has dropped barely 5 cents. Those costs will be passed on in a big way. Keep in mind wages have also been rising quite a bit. Not enough to keep up with the current rate of inflation but it does mitigate some of the price increases. So something that seems like a financial gut punch is more like a light kick in the shins. Link to comment Share on other sites More sharing options...
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