ipit999

[James E. Thorne @DrJStrategy]

Macklem’s Incompetence: Fighting the 1970s, Punishing Canada Today

The Bank of Canada is hiking into a negative growth shock because it fears an inflation problem its own underlying data do not establish. This is not prudent risk management. It is incompetence dressed up as vigilance.

Trimmed CPI inflation is 1.8% and declining. Employment is contracting. Even the Bank’s own statement puts inflation excluding gasoline at 2.2%, core inflation close to target, and longer-term inflation expectations firmly anchored. It acknowledges excess supply and expects new American tariffs to slow growth. Yet Macklem is raising rates because higher energy costs might eventually spread through the economy.

The distinction matters. Higher oil prices squeeze purchasing power; tariffs impair production and trade. Higher interest rates cannot fix either problem. They can, however, compound the damage by weakening spending, housing and investment. Macklem is responding to an external cost shock by imposing an additional domestic demand shock.

Second- and third-round inflation effects are risks to assess, not facts to assume!!! With underlying inflation subdued, jobs contracting and expectations anchored, the burden of proof lies with the central bank proposing to tighten. Its statement does not meet that burden.

Macklem increasingly resembles a Davos technocrat intellectually trapped in the 1970s: invoking the dangers of an inflationary spiral while discounting the weakness in front of him. The spectre of that decade has become a substitute for judgment.

His incompetence lies in that misdiagnosis. Hiking into a negative growth shocks leads to an avoidable recession.

He is making Canadians pay higher borrowing costs today to insure against inflationary spillovers that have not yet materialized broadly in the data.

A central bank should respond to evidence, not force today’s economy into yesterday’s cautionary tale.

Yes it’s true: Tiff Macklem is worse than John Crow. The worst governor of the Bank of Canada in modern history.

[Ben Mulroney @BenMulroney]

In so many cases, what happens in Europe eventually happens across the Atlantic. They are patient zero. We are running out of runway.

[Julio Vientós @jvientos]

Días después de denunciar la persecución contra los cristianos en Nigeria, el reverendo Ezekiel Dachomo vuelve a estar de luto, mientras sepulta a más miembros de su iglesia en medio de los continuos ataques y persecución de parte del Islam en Nigeria.

¡INTERCEDAMOS A DIOS POR LA IGLESIA PERSEGUIDA EN NIGERIA Y POR EL REV. EZEQUIEL DACHOMO! 🙏

[Mike Pence @Mike_Pence]

Putin doesn’t want peace. Putin wants Ukraine. Enough is enough.

President Trump should rescind the diesel deal with Russia and use the Lindsey Graham Sanctioning Russia Act to impose harsh sanctions on nations purchasing Russian energy, work with our allies to ensure Ukraine has the military support it needs to repel and defeat this Russian invasion once and for all. Slava Ukraini🇺🇸🇺🇦

[Pat Condell @patcondell]

The media’s job is to keep us in the dark while western civilisation is destroyed. If not for Elon Musk we wouldn’t know half of what’s happening in France tonight. The next time you vote may be the last time you get a chance to vote. Vote blood and soil, or die.

[Preston Stewart @prestonstew_]

Zelensky says Starlink restrictions remain in effect across Ukraine adding that they've tested some of these platforms in Europe and registered no limitations.

[Brian Lilley @brianlilley]

Let's be clear, Bob Rae was a disaster when he ran Ontario.
After that, he worked with and supported the Trudeau government which was a disaster for Canada.
Now, he's endorsing Olivia Chow.
Choose wisely Toronto.
Don't follow Bob's advice, he has a bad track record.

[Ian Runkle/Runkle of the Bailey @ YouTube @IanRunkle]

Jesus fucking Christ, our politicians hate us.

[Dr. Eli David @DrEliDavid]

As France is burning, I keep thinking of what the UAE Foreign Minister said a few years ago 👇

He accurately predicted this.

[John Cleese @JohnCleese]

Unless this party thrives, the future is lost for people like me

But...I'm lucky enough to be able to move abroad

Most people can't

[Garry Kasparov @Kasparov63]

🎯

[Preston Stewart @prestonstew_]

"Republicans and Democrats, together, should regard this week’s developments as the last straw.

...in a properly functioning republic, there would be immediate hearings about this week’s shocking escalation of the Trump–Putin alliance."

https://t.co/erN5gj8wHV

[Brian Krassenstein @krassenstein]

This is who Trump is supporting.

Russia just attacked a supermarket in Odessa. Ukraine filled with innocent civilians.

Why are we supporting the bad guys?

[Gad Saad @GadSaad]

What will it take for the West to wake up to the existential dangers posed to our civilization? How many people have to be killed, harassed, raped, intimidated, etc, before you wake up?

[Ezra Levant 🍁🚛 @ezralevant]

Mississippi is now richer than us.

The World Bank puts Canada’s 2025 GDP per person at US$55,698. Mississippi, the poorest state in America, sits around US$55,877.

That puts us below all 50 states.

In 2014 the New York Times found Canada’s middle class had caught up to America’s. A year later the liberals took over.

Ten years of liberals. Fifty states ahead of us.

[Dr. Maalouf ‏ @realMaalouf]

Six months ago, the Taliban legalized sexual slavery and permanently banned girls from schools.

Why are all the human rights activists silent?

[Rupert Lowe MP @RupertLowe10]

We can still take back our country - here's how...

[Garry Kasparov @Kasparov63]

Do something.

[Ezra Levant 🍁🚛 @ezralevant]

Here’s what your taxes bought.

$13.36 billion in international aid in 2024-25.
That’s from Global Affairs Canada’s own report.

$1.1 billion on hotel rooms for asylum claimants since 2017, according to IRCC.

Another $1.5 billion sent to provinces and cities to house them.

Not one of those lines was on a ballot.

All of it came off your paycheque.

[Brian Krassenstein @krassenstein]

Zelensky is a Genius:

Trump: "I'm buying oil from Putin, which will help fund the war against Ukraine."

Zelensky: "Ok then I'm blowing up all the Yandex Data centers in Russia, which host the bot Traffic that Putin uses to Help Trump cause chaos in the US elections. Checkmate!"