Good morning,
The celebrations keep coming as this guy is stuffed like a piñata. My blood pressure is elevated and the knot in my back remains, even though the expert hands of Dr. Andrew Stillo, Chiropractor, extraordinaire, helped ease the discomfort. He contorted my body to ease the pretzel I had become to help try and reduce the pain. For a second, I thought he would add some Himalayan salt and a little Dijon mustard as part of his therapy. Sometimes it takes a little ingenuity and thinking outside the box to get the results one wants to achieve.
Nonetheless, great news from the Bank of Canada as inflation slides to the 2% target level much quicker than they envisioned. What an accomplishment, as they pulled out all the stops to bring the out-of-control inflation, they created, to its knees.
It seems, a little overly convenient to me to have achieved this goal before an election cycle. But first let’s think outside the box and the devastation caused by the overspending by the government and the excessive printing of money, as they made cheap credit easily available, like putting out the cheese to entice the mice.
No one was shielded from the impact of inflation, in-fact it cost families and individuals stress beyond belief. Many could weather the storm as their finances may have been sufficient. Yet how about the rest of the people, living from paycheck to paycheck trying to cope with the stress of maintaining their standard of living?
Factually, most people are private with their financial affairs. It is difficult to measure the financial burden placed on people because it is human nature not to show weakness toward friends or family. Reality hits when the person sits in front of the banker or mortgage broker and they discover that numbers don’t lie. When you spend more than you make the gig is up and decisions have to be made.
Recently, a group of University students were polled in Canada. Many continue to struggle to maintain their academic status because of the high cost of living. The majority have given up on home ownership and many today have joined the over 1 million people in Ontario, alone, visiting a food bank. Does it even pay to come out of University with a degree, to work at a minimum wage job, loaded with student debt and then compete with an illegal immigrant for the work?
The persistent Inflation has been an incredible burden. Keep in mind, that the costs of most items remain high because Carbon Taxes heighten the expenses to manufacturers and farmers. In Canada. these costs are ultimately passed on to the consumers whose income has not kept pace with the new economic reality. It’s shameful, especially for the younger generation that is supposedly smarter and is unable to consider a future or even support a family. Where does their future lie, when hope seems desperately unattainable.
It is pathetic that ‘We The People”, have allowed this mismanagement to destroy lives. Yet here we are as the bankers and financiers take out the pom-poms and celebrate this so-called achievement while the devastation is swept under the proverbial rug. Keep in mind, it is costing Canadians almost $ 50 billion/year to finance a National debt of over $1.2 Trillion. Can you imagine what $50 Billion could provide to a population of 40 million? Let’s start with housing, medical and education improvements. Why are we allowing these entitled pieces of poop to actively destroy our country while they push to censor our speech!
Today, the focus will be on the Federal Reserve in the United States. The Fed has tried to balance the value of the USD against the threat of the new BRICKS Nations who are looking to topple the world benchmark Currency. The USD is backed simply by government debt now approaching $35 Trillion. Whereas, the BRICKS Nations currency is supported by Precious Metals, Rare Earths and Investment Capital. When financing is required, funds are drawn within the country to help support the currency of that nation. Some would say, brilliant while those running the Central Banks consider it a threat to their monopoly. The Central Banks need to be dissolved!
The Fed has towed a fine line by also increasing interest rates exponentially and maintaining rates steadily higher in comparison to other countries. Even though the employment data was overstated over the last year, their decisions were based on erroneous data. Yet, they are trying to justify their methods regardless of the economic carnage caused. Employment in many countries has been a function of government spending, they are not organically generated through natural investments in small businesses that are usually the driving force of a healthy economy.
As we await the decision the USD Index remains below the 101.0 level. One of three scenarios will play out:
1) Leave rates unchanged- The USD strengthens measurably.
2) Cut 0.25%, initially the USD will fall but the markets have already digested the news. A tempered reaction
3) Cut 0.50% or greater and the USD sinks deeper and currencies explode higher along with Precious Metals.
Meanwhile, if Precious Metals are an indication of direction look for cuts in interest rates to continue. Gold hit a new all-time high approaching USD$2600/oz and Silver nears USD$31/oz. On the other hand, Oil, the largest variable in the inflation calculation remains below the USD$70/B range, manipulating the price at the pump to project a stable economy. Don’t be fooled, all are being timed perfectly to coincide with the November 5th election. Power is Money and those with it don’t want to give it up!
I think I love you!