Trudeau Is Happy Inflation Is Making Canadians Poorer

Prime Minister Justin Trudeau had never hidden his love for modern economic theory since the 2015 federal election. Trudeau genuinely seems to believe the only important factor in the economy is how much money is being spent, regardless of whether it is individuals, corporations, or the government spending it.  

Trudeau has always measured his economic performance by how many new programs he has created, how much extra money the government is spending on different sectors, and however many new government or government-subsidized jobs are created. From this left-wing economic perspective inflation is viewed as a positive as more money chasing fewer goods promotes blind spending.

Nepean-Carlton MP and Conservative Finance Critic Pierre Poilievre have been hammering the Liberals, and especially Finance Minister Chrystia Freeland on their theft of Canadians money through inflation. He points out that trying to spur the economy by printing cash has raised the price of housing so much that an increasingly smaller pool of Canadians who can realistically buy a home let alone comfortably rent.

The reason why MPs like Poilievre only ever get spin from the Liberals and no acknowledgment of problems caused by inflation is because of the short-term benefits inflation brings that the Liberals seem to be obsessed with.

Freeland in the above clip touts Canada’s 3rd quarter 5.4 percent rise in GDP (year-to-date) as proof the Liberal government shoveling cash into the economy is working. One could point out that a growing GDP is not a sign of an internally healthy economy, seeing as Communist China has consistently experienced large year-to-year GDP growth yet is always on the verge of economic collapse but Trudeau would probably only see comparisons to China as positive.

What the Liberals love about inflation on top of the promotion of short-term increases in spending is that they get to award themselves hollow economic achievements whenever they want. They can create new jobs overnight by printing more money and subsidizing industries they favour, or even artificially create wage growth simply by watering down the value of the Canadian dollar. 

Everything the Liberals have been attempting to brag about when it comes to the economy are merely symptoms of inflation, which the long-term drawbacks of will more than offset the limited gains today. The political benefit today is that the Liberals get to make Canadians of a left-of-centre political mindset think they are at least ‘doing something,’ which may have contributed to the Liberals’ recent polling increase.

Of course, job and GDP growth is largely also due to the economy naturally recovering from the artificial lockdowns and public health restrictions placed on it over the past 2 years, so within the coming months, Canadians will see the economy slow to a crawl.

MP Poilievre has been doing a good job, in spite of the unpopularity of Conservative leader Erin O’Toole, of rallying Canadian public opinion behind reducing inflation and calling out Trudeau’s recklessness, which Trudeau himself has witlessly playing into.

The biggest danger to the Canadian economy now is not the damage the inflation Trudeau and the Liberals have already subject the country to, but that they are so reliant on printing money for positive economic headlines that they will simply intensify the inflationary spiral.