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Letter: Canadians are facing an economic crisis

Dear editor, Canadians are facing an economic crisis, having seen the inflation rate hit a 31 year high of 6.7 per cent this year
Airdrie letters_text

Dear editor,

Anyone trying to find affordable housing, food or clean water lately is likely suffering from sticker shock – that’s if they can find what they need in the first place.

Canadians are facing an economic crisis, having seen the inflation rate hit a 31-year high of 6.7 per cent. The Liberal federal government’s current cumulative debt is over $1,163,744,455,907.08 – that’s trillion – and growing by $144,931,507 each day. These numbers rest squarely on the well-coiffed heads of the current government, whose members are immune to the ravages of inflation experienced by the common folk. Their response to economic crisis is to keep printing and borrowing money to cover failing stimulus and social programs, and funding ‘green’ initiatives and international assistance spending, which increased by 27 per cent to $8.4 billion in 2021, (up from $6.6 billion in 2020). Debt interest charges cost each Canadian $57,500 in 2021.

All indicators that, due to world events, there will be disruption in production of consumer goods, including food, as well as the supply chain distribution needed to get the goods from factory or farm to consumer. Canada’s unemployment rate is currently reported as being as high 9.6 per cent, with an under-employment rate that is harder to measure. Average wages cannot keep up with the cost of living. There are going to be an ever-increasing number of people who cannot keep up. The gap between the rich and poor is widening and the middle class (whom the Liberal government claims to be fighting ‘very hard’ for) is disappearing.

Food Banks have become an essential service. They are under increasing pressure to keep their larders full so cash and food drives are common. The food business has always had the reputation of being ‘recession proof’ because ‘people gotta eat.’ Every major grocery store has a bin for their customers to make donations to food banks. Those more fortunate are to help those that aren’t, so why is it that the food giants are blatantly raising prices while enjoying their recession-proof status? 

More disturbing is that these food giants are receiving government subsidies to support government programs. The federal government announced recently it will provide up to $12 million to help the Loblaw grocery chain convert refrigeration systems in about 370 stores. The money will come from the government’s Low Carbon Economy Fund and is expected to help the company cut its carbon footprint by about 23 per cent. Loblaw reported profits of $754 million in 2018, and is backed by some of Canada’s wealthiest people that don’t have to worry about the high cost of living.

Airdrie’s No Frills and Real Canadian Superstore have proudly announced their annual Spring Food Drive to help meet the demand of a growing list of food bank ‘clients.’ These are noble deeds but the irony of big grocery virtue signalling their community involvement and care while appeasing their shareholders cannot be overlooked. To appeal to the guilt or generosity of the ‘haves’ to help those less fortunate while maximizing profits is tone deaf.

Airdrie Today Staff

About the Author: Airdrie Today Staff

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