Juno News - How inflation is hurting you

00:00:00.000 why is inflation growing and what does it mean for the typical canadian well it means a lot of

00:00:06.240 hardships is what it means for canadians and this is real canadians who are in the private sector

00:00:11.520 who may have lost their job during the pandemic who may have taken a pay cut during the pandemic

00:00:15.840 who may have lost their business they're feeling the pain of higher prices at the worst possible

00:00:20.320 time yeah it might not feel too painful for the people who are living in their cushy bubbles in

00:00:25.040 ottawa who continue to give themselves pay raise after pay raise after pay raise but for everyday

00:00:30.720 working canadians in the private sector it means an awful lot of pain now let's talk about some of

00:00:37.040 these uh global confusions if we can call it that yeah other countries are feeling the pain of

00:00:42.960 inflation when these other countries are running massive deficits and have their printing press

00:00:48.000 on overdrive like canada but countries that haven't had all this money creation japan switzerland

00:00:53.760 aren't dealing with the type of inflation that's happening in canada and candace i want to address

00:00:59.040 another point of confusion that we often hear is about these supply issues well we always have

00:01:07.040 supply issues there is always supply issues year after year whether it's a refinery shutting down

00:01:12.800 whether it's maybe bad weather uh crop disasters this happens all the time yeah cp cp strike that

00:01:20.480 happened a couple years ago caused huge supply issues so you're right we see it every year

00:01:25.040 exactly but what's different about now that's leading to 30 decades high inflation what's different

00:01:31.280 about now is that we just had two years of revolving government lockdowns which hammers output we just

00:01:38.640 had the printing press create 370 billion dollars out of thin air drop it into our economy meaning the more

00:01:46.080 dollars they print the less that our dollars buy so what we've seen now which is different than before

00:01:51.920 is the government create the perfect storm for inflation which is too many dollars chasing too few goods

Juno News - April 12, 2022