2% inflation?

[Flatlander]

Why is it OK for the BOC to sign an agreement with the Canadian govt to renew the 2% target for inflation. Using the rule of 72, this erodes our loonie by 50% in 36 years. Let the saving begin. This shit is news they stream it across the bottom of my tv. Should read " do do doot do, do do doot do, "this just in, Canadian government reaffirms mission to completely destroy ITS OWN currency", in a continued movement towards self destruction, details at a later date. Meanwhile back to leaky ships, Trump, CETA and its minister that couldn't negotiate their way through a Walmart greeter and all the other shit that really seems to matter.

[farmaholic]

Saving???????????.... I bought land. Sad part is I may never realize the full value of my investment(know what I mean?) I did, and am, building a nest egg but in comparison my Pappy(indexed for inflation), he did a better job of saving cash than I did.... I tied up a fair bit in dirt and iron.... Iron being the shittiest investment going... but a farmer needs machinery like a carpenter needs a hammer and saw, etc.!!!

He also had the luck of saving money when savings interest rates were very good all while he had little to no debt. Now there is no return in cash savings and we look for a return from shit like mutual funds that have too many parasites feeding off them!

I guess this farm will have to owe me a bit in "retirement" if I ever get to see it!

[ajl]

Nothing new here. Canuckistan has taxed savers through inflation for a long time and needs to keep doing it as debt levels here exceed almost everywhere else including the US.

[foragefarmer]

AJL


"debt levels here exceed almost everywhere else including the US."


Are you directing this statement toward Agriville posters or are you referring to the rest of Canadians?

[cottonpicken]

right on AJ,inflation is a tax.

[ajl]

Best estimates of total public and private sector debt put Canadians per capita debt above US levels and one of the highest in the world. We have more private and non sovereign debt: ei provincial level vs US state level.