CDN-Economy & Related Factors

bob the dog

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Aug 14, 2020
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You would be hard pressed to find something other than a 40 year old trailer around here for under $500 000
Wasn't able to copy the link but check real estate in Gravelbourg, SK. Very decent homes for $70,000. Castles for $350,000
 

spaminator

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Oct 26, 2009
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GOLDSTEIN: Economic freedom in Canada on the decline, report says
Author of the article:Lorrie Goldstein
Publishing date:Sep 14, 2021 • 19 hours ago • 3 minute read • 26 Comments
Stacks of Canadian currency. PHOTO BY ISTOCK /Getty Images
Stacks of Canadian currency. PHOTO BY ISTOCK /Getty Images PHOTO BY ISTOCK /GETTY IMAGES
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Canada has dropped out of the top 10 of the most economically free countries in the world, according to a study by the Fraser Institute released Tuesday.

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Canada now ranks in 14th place out of 165 countries assessed in the annual survey, part of a continuing downward trend since 2016, says the report, Economic Freedom of the World, 2021, by the fiscally conservative think tank.


“Due to higher taxes and increased regulation in Ottawa and the provinces, Canadians are less economically free, which means slower economic growth and less investment in Canada,” said study co-author Fred McMahon.

“Where people are free to pursue their own opportunities and make their own choices, they lead more prosperous, happier and healthier lives.”

The annual report is produced by the Fraser Institute, in co-operation with the Economic Freedom Network, a group of independent research and educational institutes in nearly 100 countries and territories.

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Based on 2019 data — before the impact of the global COVID-19 pandemic hit — the study, which assessed government regulation, freedom to trade internationally, size of government, property rights, government spending, and taxation, concluded Hong Kong is the most economically free jurisdiction in the world.

However, it cautions that because of China’s crackdown on democratic and economic freedom in Hong Kong beginning in 2020, it will likely have lower rankings in future years.

In descending order after Hong Kong, Singapore, New Zealand, Switzerland, Georgia, the U.S., Ireland, Lithuania, Australia and Denmark round out the top 10 most economically free jurisdictions in the world.

They are followed by Mauritius in 11th place, the U.K. in 12th, Estonia in 13th and Canada in 14th.

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Last year, Canada was initially ranked in 8th place in the survey, although data revisions later lowered it to 13th place, one position higher than its 14th place ranking this year.

Among G7 nations, Canada in 14th place is ranked lower than the U.S. (sixth place) and the U.K. (12th), but higher than Japan (18th), Germany (22nd), Italy (47th) and France (53rd).

Russia is ranked in 100th place, India 108th, Brazil in 109th, and China in 116th.

The 10 least economically free countries, in descending order according to the study, are: Central African Republic, Democratic Republic of Congo, Syria, Republic of Congo, Iran, Zimbabwe, Algeria, Libya, Sudan, and, lastly, Venezuela, judged in 165th place out of 165 countries studied.

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The study says that people living in countries with a high degree of economic freedom enjoy greater prosperity, more political and civil liberties, and longer lives.

“Countries in the top quartile of economic freedom had an average per capita Gross Domestic Product of US$50,619 in 2019 compared to US$5,911 for bottom quartile countries,” the study says.


“Poverty rates are also lower. In the top quartile, 0.9% of the population experienced extreme poverty (US$1.90 per day), compared to 34.1% in the lowest quartile.

“The average income of the poorest 10% was US$14,400, in the top quartile, compared to US$1,549 in the bottom quartile … the average income of the poorest 10% in the most economically free nations is more than twice the average per-capita income in the least free nations.”

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Finally, the average life expectancy is 81.1 years in the top quartile of countries compared to 65.9 years in the bottom quartile.

While Canada’s ranking on economic freedom has fallen in recent years, the study concludes that globally, economic freedom is gradually increasing.
 

spaminator

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Oct 26, 2009
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Consumers, shopkeepers feel the pinch as inflation hits 4.1%
Shop-owners and shoppers say the prices are taking a bite out of business and budgets

Author of the article:Scott Laurie
Publishing date:Sep 15, 2021 • 6 hours ago • 2 minute read • 5 Comments
Mario Aricci, owner of Ponesse Foods, is pictured at St. Lawrence Market on Sept. 15, 2021.
Mario Aricci, owner of Ponesse Foods, is pictured at St. Lawrence Market on Sept. 15, 2021. PHOTO BY ERNEST DOROSZUK /Toronto Sun
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If they’ve noticed two things at St. Lawrence Market over the course of the pandemic, it’s that crowds are thinner and prices are much higher.

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“Prices have gone up considerably, but we have no choice but to keep going,” said Mario Aricci, owner of Ponesse Foods, which specializes in fresh produce.


“We have to swallow your pride. Take less money to keep the business going.”

With inflation surging to 4.1% — an 18-year high in August — Aricci said he cannot remember being so squeezed as a merchant while trying to supply his shop while keeping customers happy.

“We need to kind of suck up the profits. It’s a matter of survival,” said Aricci, who has been operating his shop for 36 years.

Passing along all price hikes, he added, would be damaging to his business.

“That’s easier said than done because the marketplace is so competitive. If you overprice your product, you will lose market share.”

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George Vasiliades has managed the St. Lawrence Fish Market for 20 years.

“On certain items, prices have just gone through the roof,” he said.


Things have become so bad, he said, some products are no longer worth carrying because he cannot recover the cost of supplying them.

“We used to sell jumbo scallops. Now our costs on most jumbo scallops would be about 25% more than what we were selling it for.”

“I’ve noticed prices are considerably higher,” added Ken Watson, who was out shopping for cheese and potatoes.

“Over the last year, it’s been gradual. But what we have seen over the last year is that prices have not only gone up, but the quantities have gone down.”

In a research note, Canada Needs to Tackle Inflation, Derek Holt, Scotiabank vice president and head of capital markets economics, wrote: “Prime responsibility for managing inflation rests with the Bank of Canada, but that doesn’t mean that the broader public policy mixture doesn’t matter.

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“The continued heavy spending that is the basis of every political party’s platform suggests that Canada is not taking inflation risk very seriously,” he added.

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Shop owners say seriously tight supplies have forced their hands on prices.

“Some customers understand. Some consumers just assume that we did it,” Vasiliades said.

As for changing shopping behaviour due to the current sticker-shock, Watson said: “We may as well face it, it is not going to change. It is going to get worse. The prices aren’t going to go down.”
 

spaminator

Hall of Fame Member
Oct 26, 2009
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Inflation hits 18-year-high with election just days away
Author of the article:Reuters
Reuters
Julie Gordon
Publishing date:Sep 15, 2021 • 16 hours ago • 2 minute read • 89 Comments
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015.
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. PHOTO BY MARK BLINCH /REUTERS
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OTTAWA — Canada’s annual inflation rate accelerated to an 18-year-high in August, driven by broad upward price pressures, data showed on Wednesday, just days before a hotly contested federal election that could see Prime Minister Justin Trudeau’s Liberals ousted.

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The rate rose to 4.1% in August, its fastest clip since March 2003, Statistics Canada said, beating analyst estimates and prompting Trudeau’s main rival to pounce over the rising cost of living.


“The numbers released today make it clear that under Justin Trudeau, Canadians are experiencing an affordability crisis,” said Erin O’Toole, leader of the main opposition Conservatives, in a statement.

The Conservatives have a narrow lead over Trudeau’s Liberals at 31.2% to 30.5% just days before the Sept. 20 vote, according to a new Nanos Research poll. The left-leaning New Democrats are in third at 21.4%.

Countries around the world are grappling with hot inflation amid supply chain hurdles and labor shortages as restrictions are eased and tightened with each new wave of the virus, leading to choppy demand and supply bottlenecks.

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The Bank of Canada has said it expects headline inflation to remain above its 1%-3% control range this year, before easing back to the 2% target in 2022.


“This doesn’t mean anything short-term for the Bank of Canada. They’ve been very insistent that the inflation shock is transitory,” said Andrew Kelvin, chief Canada strategist at TD Securities.

In Canada, the hot inflation print was driven by high gasoline prices, rising housing costs and a surge in the prices of goods like furniture, appliances and vehicles, along with high travel-related costs as restrictions eased.

That was the opposite of the United States, where a harsh fourth wave has put a damper on travel.

“It is really the mirror opposite of what we saw in the U.S. yesterday, where we had the travel components showing signs of cooling. Here, they are showing signs of heating up,” said Jimmy Jean, chief economist at Desjardins Group.

“It is still part of the reopening effect. In August we were still getting back to normal,” Jean added.

Analysts polled by Reuters had expected the annual inflation rate to rise to 3.9% in August. At 4.1%, it was the highest since the 4.2% recorded in March 2003.

The three measures of core inflation all posted gains. CPI common, which the Bank of Canada calls the best gauge of the economy’s underperformance, edged up to 1.8% from 1.7% in July.

The Canadian dollar was trading 0.2% higher at 1.2663 to the greenback, or 78.97 U.S. cents.