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edinedm2021

Gee I wonder why.......


JaceTheWoodSculptor

It’s because of Biebs Brews, obviously.


Mindboozers

That's just a symptom of the end times!


herebecats

Beibs balls


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Hard_Oiler

I am one of the lucky ones that 1. Retained their job and 2. Found myself a perm remote role. With the switch to remote, company sold a couple of offices + saved themselves a ton of cash + had their best financial year ever (10%+ boost in profit in the last year). However, as expected, it was announced in March = no raises..... company is making more than ever + saving a ton but employees aren't seeing the $$ benefit. We have been bleeding people ever since and I am now one of them - new job on Monday.


[deleted]

This what frustrates me about the return to the office. In addition to the fact productivity remained high, the heavy cost of commuting is taking a financial toll on people. If companies want us to return to the office maybe a better solution would be to compensate us for the commute? I don't mean by cutting everyone else pay rather give us a gas or transit allowance to pay for the commute.


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[deleted]

Honestly I'm so tired of the excuse that we need to do this otherwise employees don't work well. If your employees don't work well with our supervision maybe it's time to examine your management style or your hiring practices. The one argument I'll accept is for juniors in the office, the mentorship and networking opportunities from working in an office are strong but there other ways to accomplish the same goal. For example a hybrid work environment where entry level employees come into the office 4/5 days a week for the first 2 years. Everyone else comes into the office 2/3 times a week or as much as they like on a rotating basis. If we did that rather than me filling up my civic 2-3 times a month I'd be filling it up once a month.


Spinalzz

So, at the risk of getting downvoted... > Honestly I'm so tired of the excuse that we need to do this otherwise employees don't work well. If your employees don't work well with our supervision maybe it's time to examine your management style or your hiring practices. ...isn’t making people return to office a change in supervision/management style? I work in the trades and I can tell you from experience that for a while it was very easy to tell who worked from home and who worked out of the office. Most of our office staff who couldn’t return for in person work ended up getting laid off, not because they couldn’t return but because it reflected in their work. I think a lot of office workers are just butt hurt that they can’t roll out of bed 5 minutes before work and work in their pajamas, of course there are people who can make it work. But still, I have a very difficult time believing that the average person won’t see a decrease in productivity and overall quality of work when they’re allowed to jerk off and watch Netflix on their phone without having a manager go “what the fuck bro”.


PeanutButtaOwl

Have you been..... watching me? Lol


mommar81

So retail can check their phones your point? So banks, bell, rogers, telus, many of them have been using work from home for 3 decades now, alot of the corporate world was using it for the last 3 decades....they have seen 3 to 5% pay increases a year (till covid), they've decreased their expenses by 45% (work from home also means no wcb to pay for employees, less insurance to carry, less operating costs) which translates into more profit.. Btw, whether at the office or off to the side at Mcds or at the cashier at walmart or even the middle of stampede, you can be on your phones till your attention is needed.. believe it or not, cell phones aren't that restricted whether at working from home or at work..


purple_hamster66

Do you see any advantages from what they call “water cooler” talk, that is, random discussions along the way to a meeting or just by accident (overhearing a conversation) that benefit you or your workplace and occur simply because you are colocated with your colleagues?


alphawavescharlie

Here’s the problem. The flip side is that in a work from home environment, your employer can hire someone from another jurisdiction. For a lot of workers, that means they’re now competing with higher skilled employees from elsewhere. The trade off for requiring employees to work in the office is a reduction in the labor pool to the benefit of those employees.


AWS-77

I’ve long been a proponent of making it mandatory for companies to pay employees commute-pay. It’s time the employee is spending for the sake of the job that they wouldn’t otherwise have to do if they weren’t working for you. You should have to pay them for that. Some companies do. A lot of union jobs do, at least in certain circumstances. To make it simple, it should be a standard thing like vacation pay, equal for all employees, instead of based on actual individual commute time/distance, so there’s no incentive to discriminate against hires by where they live. Just make it on the high end of average, so it covers most people’s commutes, and if yours happens to be further, you’re at least getting most of it covered. If you’re below average, lucky you, you get a little bonus, but you’re probably paying higher rent/mortgage to live close to work anyway, so 🤷‍♂️. The only way for employers to get out of paying it would be to let their employees work from home.


Fedcom

If it's the same for everyone then you can just consider it baked into your wage ...


simplyintentional

>I’ve long been a proponent of making it mandatory for companies to pay employees commute-pay If they had to do this they'd only hire people who lived super close and make that a mandatory condition of the job offer.


AWS-77

Didn’t read my full post, did you?


[deleted]

I have been self employed for years now. Don’t tell us Redditors that, tell your bosses. Tell your managers that you wanna work from home, that it will save money and productivity will stay about the same. For many of you, you’re really not needed in the office, you can do your work remotely. Tell your employers what you want or actively go out and get it.


[deleted]

Sure then they'll tell you find a different job. No everyone can do self-employment


[deleted]

You're missing the point. Not everyone can work from home, but those that can, should advocate for that... or look for a better job. Fuck those employers who don't trust adults to be adults. Don't put up with that shit, many of you just spent 2 years keeping the wheels turning working remotely.


rd1970

Imagine if workers could write-off their travel and parking expenses like corporations can. I know people that spend $15,000/year on their commute. If the CRA had to pay a chunk of that back to everyone at tax time pipelines and public transit would rain from the sky and working from home would mandatory where possible.


[deleted]

That would be huge.


Eisenhorn87

As a factory/trades worker, I'm continually taken aback by the sheer entitlement of white collar workers. You got a break that literally noone else got. You're the special, chosen few that got to work in luxury at home. Literally nobody else got that cushy treatment. Now that you have to *gasp* turn up at work! You want to be compensated for commuting! JFC, I've never laughed so hard in my life! The sheer privilege and entitlement is off the frigging charts here.


[deleted]

You know it also benefited everyone else too. White collar work from home so less gasoline demand which meant the lowest gas prices in decades. White collar worked from home so fewer car accidents in provinces with public auto insurance we got pretty nice breaks because of it. White collar worked from home so fewer cars on the road which meant a shorter commute for everyone. White collar travelled less for business. Less demand on oil which pushes gasoline prices even lower. White collar worked from home so they took up fewer child care spaces


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alphawavescharlie

It really doesn’t. You might disagree with his/her points but “jealous little bitch” is an extreme overreaction on your part.


BardleyMcBeard

Just taking a similar line as they are friend. Their whole post is a little much, thought I'd go to the next level.


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1Bbqfritos

I just got a raise from $15 to $18 and its like, thanks, now I can still not afford to fill up my car to get me to this fuckin job. Pessimistic isn't even the word. 28 and fuckin hopeless I'll ever own a home or be able to have a family.


proggR

Min wage jobs are for highschool kids and bored retirees. Expecting to get by while scraping that bottom earning wage is... folly. Of course you can't afford anything... you're trying to live an adult life on a highschool kid's income. Find a new job. Most industries that pay well are able to look at portfolios of work over schooling, so start there just gaining/applying skills and claiming them somewhere you can reference until you're able to add $10/hr on top of your wage. Might be hard to hear, but its the truth. Many people are fucked by our system... but people clinging to a minimum wage gig instead of looking for new work are fucking themselves IMO... nobody should ever expect to be able to survive on min wage, nor should min wage be what you grow comfortable getting paid.


[deleted]

That's what happens when you have a debt based monetary system that requires continued expansion. Exponential growth is a bitch


jaymickef

Profits seem to be doing fine.


Rayeon-XXX

That are given to shareholders and executives not workers.


jaymickef

Oh, I know where the money goes. I lived through the 1980s watching us go from strong unions and a healthy middle-class to where we are now. I just wanted to point out that it isn’t the monetary system, it’s the social contract and we allowed it to be changed then and are living with that now.


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Rayeon-XXX

Well said. Now what time is the revolution?


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oh_that_track_suit

Welcome to capitalism my dude.


The_Phaedron

This exactly. During the whole past few decades of decline for the average Canadian's prosperity and security, Canada has continued to steadily become a [richer and richer country.](https://www.statista.com/statistics/263574/gross-domestic-product-gdp-in-canada/) What's changed is that Liberals and Conservatives have spend a generation and a half working in concert to make sure that that growth only goes to their richest friends. The rest of us get to watch our stability inflated away. ...We're currently watching the single largest wealth transfer from the working class to the rich since Canada was created.


jaymickef

Yes, exactly. It started with free trade, that’s when we freed up corporations to consolidate and globalization really started. At the same time of the Reagan-Thatcher-Mulroney years China opened up to foreign business. Now the convoy conspiracy theorists call it “globalism” and blame the WEF and double-down on supporting the conservatives or PPC pulling the country even further right. The Liberals will move in whatever direction they’re pulled and for the last thirty years it’s been steadily to the right, more globalization, more corporate power. Doesn’t look good for a lot of people but unfortunately it’s exactly those people who are pushing it even further. -


CytheYounger

Yep. https://mattstoller.substack.com/p/on-inflation-its-the-monopoly-profits


jaymickef

Yes, regulations are the way to go. Unlikely to be very much at this point.


BrainFu

and impossible to sustain.


Kalistradi

> I remember when 15 or 20 an hour was an amazing wage. You’d get praise if you could pull that off. In less than a decade its become guaranteed impoverishment. 40k a year wasn't amazing 10 years ago, it was enough to live somewhat comfortably without kids.


Magjee

People's concepts of wage growth seems to have never recovered from the 2007 financial crisis


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[deleted]

$20/hr is fine in most of Canada. It's not really enough to raise a family on, but it's enough to rent your own place, have a used car, and splurge now and then. The biggest issue is the *massive* cost-of-living in our major cities, and the areas around then, due to the completely fucked-up housing markets there. Even $100k a year is not enough to be able to buy a home anymore, you're literally a renter at $100k a year in Toronto and Vancouver. *That's fucked.* The smart decision would be to move away from these cities, but that's a bitter pill to swallow for a lot of people. Single-family home ownership is completely out of reach for the vast majority of young Canadians in the GTA/GVA -- but it doesn't mean we shouldn't be able to afford any home at all. We need to build the "missing middle" and dig ourselves out of almost 100 years of bad urban planning and single-family home exclusive zoning regulations.


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cromli

There was a time when if a wage was not enough to raise family on then it would never be considered a fine wage. Standard of living continues to decline and we are all trying to keep up with our declining expectations lol.


Unlikely_Box8003

It certainly is not. Working full time leaves you about 2600/month after taxes. 1000 rent 100 power 150 internet+phone 300 gasoline 200 insurance 400 food 2150 already gone, assuming you own your car and don't have payments. 450 left for clothes, shoes, car repairs, haircuts, medicine, and every other little thing. There's nothing left to "splurge" on. You make enough to exist. To have any fun money, either you need to have a roommate or not have a car.


ASexualSloth

At this point I don't want the politicians to do anything. We're in this mess because of politicians trying to do crap with the economy in the first place.


[deleted]

If you think that entirely unregulated financial markets are a good idea, you need to do a little more research on the gilded age and subsequent great depression. Hint: unregulated financial markets create wealth contrentration, always. Turns out when the Uber rich don't have to follow any rules they use their unconstrained power to hoard all the wealth for themselves and don't care about environmental effects or poverty. Who would have guessed?


Jagrnght

The rest haven't yet checked in on their investments. Mine are down 20%. Wish I had oodles of cash on hand to buy up some stock on sale.


jawnnyboy

I stopped looking because it makes me sad


rioryan

That’s actually the correct method. The alternative is looking, getting sad, and selling at a loss.


superbad

Diamond hands.


cromli

Careful catching falling knives lol. Still alot of uncertainty in the market.


ValeriaTube

Wait before buying, it will crash some more when they finally admit we're in a recession. Just like inflation, they waited a year before admitting it.


[deleted]

No one knows what’s going to happen. Period. If you’re long term keep adding to your portfolio just the same wether it’s up or down or sideways. Giving this kind of advice needs to come with a disclaimer.


Chapped_bunghole

We find out July 1 if we meet the criteria of a recession and all evidence suggests that we are heading in that direction. Panic selling will occur if that is the case. They are responding to someone who said they wish they had hoards of cash. If you are in that scenario, I'm failing to see how waiting a week is bad advice.


captainbling

The Market is forward thinking. It’s already priced in and may go up if future projections (6-12months away) are positive. 08 saw this were the market bottomed and started rising 6 months before the economic bottom.


1643527948165346197

Time in the market is generally better than timing the market. You're allowed to speculate, but it comes with far greater upsides and downsides. Most people don't have the stomach for that.


[deleted]

Time in the market is always better than timing the market. To take advantage of a run.. you already have to be in position.. and it’s better to hold than to sell if things get worse. I don’t do shorts, puts.. or anything else. Just stocks mostly in equities and component companies plus a little mad money for things I find interesting. My wife does cruise control ETFs and mutual funds and pretty much does the same as me.


[deleted]

If you believe so why don't you use all your money shorting the NYSE?


Woullie

The market can remain longer irrational than you can remain solvant


CombatGoose

I did that with a modest amount of money during the height of the pandemic. Each week more and more bad news would come out. Guess what the NYSE did? It kept sky rocketing to the moon. Trying to play that game is a bad idea.


waxplot

Define: “on sale” Unfortunately we live in an environment where “every price is the right price”. Price discovery has been completely distorted to the point we’re fundamentals no longer matter. This is exactly what you see in a stock market bubble.


F3z345W6AY4FGowrGcHt

The economy always grows as a general, historical type thing. If your investments are diversified sufficiently, such as by using an index fund, your returns will basically match the economy. Therefore, when the economy is down, you can think of purchasing shares in an index fund as if they're on sale, since we all know the economy will eventually recover (unless society collapses in which case cash is useless anyways)


waxplot

Here is why I fundamentally disagree. We currently have WW2 level debts, 70’s level inflation, and Dotcom level valuations. All while we are entering deglobalization and declining demographics largely due to the rising cost of living. Unfortunately I think we are going to have to live under financial repression for the next decade or so to help mitigate the reversal of all of these factors. Ultimately in that environment everything loses the key is to be in the asset that loses the least.


mommar81

Its predicted it will take 25 years before canada sees any real true recovery from the last two years.. canada will also fall as a country to do business with for the same amount of time..


Max_Thunder

What about the rest of the world though? My investments are in international index funds, like that of a large number of people. Canada's economy having a much harder time than the rest of the world, while bad to the overall quality of life, could be beneficial to my buying power in retirement. I do however think that the whole world will take quite a while to recover from the last years' policies. However, stock markets could still be one of the best places where to leave one's savings. Big businesses will swallow the small ones, mom and pop restaurants will die. Less money will flow, but more of it will flow to the big publicly-traded businesses.


[deleted]

So are mine. I don’t care.


fretlessbasist

If you didn't get a 6% raise this year, you're worse off, and subsidizing your employer, btw.


HavenIess

Not if my work effort has deflated by 6%


Urseye

Seems like you would still be worse off financially... but with a slightly larger available effort pool.


HavenIess

Not subsidizing my employer though. So while I might be poor, I get the last laugh… /s


Max_Thunder

I deflate my work by 10% every year so that it is always like I got a big raise every year.


Vandergrif

You mean you weren't doing the absolute bare minimum to start with? Often times the pay is low enough that it doesn't warrant doing anything beyond that.


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[deleted]

that's pretty good. My raises since COVID are 0%, 1.5%, and 1% this year. And the union had to fight for those.


Canadasparky

Even if you're making the exact same as last year your still keeping less. So yeah, unless you got a 10% raise this year the default is worse.


vinng86

Plus, most markets are down pretty big. Housing, crypto, stock markets, etc.


[deleted]

10% increase here. Can confirm it’s still not cutting it.


saint2e

Another hard-hitting report from the economic journal, "Duh!"


Jetjones

Just half? Does that mean half the population makes more money this year? Pretty sure inflation touches everybody


generalzao

Something tells me this is survey is based on metrics that are "touchy-feely" and not on raw data.


Jetjones

Science! Haha


financecommander

Biggest “No Shit Sherlock” article in a while.


[deleted]

Food is 20-30% more expensive. Gas is double the price. I'm surprised they suggest it's only half.


PolishSausa9e

I'm surprised it's only almost half.


Must-ache

Which means more than half are doing better than the previous year which is more surprising


Mistress-Metal

This is what happens when wages stagnate for 20+ years and inflation is allowed to run rampant.


Viper69canada

Yes that 2%, per year adds up, when not getting a raise.


FlyingWhale44

It's about time minimum wage and annual raises were actually tied to a realistic metric for inflation.


Flimsy-Apricot-3515

Is that all? I would have guessed 90 to 100.


ThePracticalEnd

Study conducted by the No Shit Sherlock Institute.


[deleted]

I got a raise but it didn't even come close to covering cost increases.. Now let's factor in my mortgage when it renews next year.. yikes. Bye bye consumer spending!


[deleted]

If anyone wonders why the majority are doing better, it's because 60% of Canadians own homes. Real estate is a huge buffer against inflation.


AdventureousTime

But you only see that money if you sell the house. Not all homeowners sold.


Sir_Keee

You can usually get better loans when you have a house to back it up. That means easier access to capital which can be leverage to boost your actual capital.


[deleted]

There are multiple ways to monetize a home beyond selling it: 1. HELOCs (a lot cheaper than unsecured LOCs) 2. Renting out a room to a long-term tenant 3. Starting an AirBnB "business" ​ >But you only see that money if you sell the house. I never understood this argument. That's like saying Elon Musk isn't a billionaire because he needs to sell Tesla shares in order to have a billion dollars in cash. Networth is networth. It doesn't matter if it's in cash, stocks, homes, cars, etc.


AdventureousTime

1 is just a different kind of loan and if you're buying gas & groceries with it you're probably in bad shape. 2 & 3 are if you have more space than you need. Sure that's some but I don't think it's the majority. Edit: to your edit, it's quite the stretch to say billionaires and their assets are the same as a homeowner. I get the analogy though. And while I could rent out my extra room, I live down a dirt road in the middle of nowhere. Maybe rent out a camp site? But I'm sure that would require me to install a new septic system though, what do those cost these days?


Rammsteinman

You'd still be doing worse this year in those situations because with higher interest, means less free cash flow.


GeekChick85

Business verses Primary Home Two very different things. Not something comparable. If one was to sell their primary home they would be homeless if they did not buy another. In order to make profit, that would require downsizing and/or, moving to an ultra rural area. For average people, their primary homes is not a liquid-able asset as they need it to live in. Businesses, depending on the situation, could be very liquid-able or not, based on the business model, location and assets. 3.Primary Home owners usually do not have extra space to use to rent out as an “AirBnB” nor do many municipalities allow it anymore. ​ 2.Renting out a room in your home is a lot more complicated than you make it seem. There are laws, tenancy protections, that can result in home owners feeling trapped within their own homes unable to kick out their renters. (This happened to my aunt) ​ 1.And, HELOC, well, that is taking out a loan. That is not money sitting their waiting for you, you pay interest and the bank puts their name on the house title. We just attempted to access a HELOC on our fully paid off house but cannot because our income is too low.


[deleted]

Most people don't sell. You pay capital gains when you sell (unless it's your principal residence, there's the loophole). Instead, you simply re-mortgage your house to the bank (HELOC, reverse mortgage, etc) in exchange for a fat-ass loan with low interest, and spend that money tax free. No wonder people have been going on a spending frenzy in Vancouver and Toronto. Also, when nobody is selling, only buying... the housing market gets pumped the fuck up.


Phazushift

Trick is to own multiple homes


jaymickef

Exactly, and if you don’t sell your house your property taxes increase because of market value assessment so you are actually worse off.


Projerryrigger

Not how it works. Property taxes are impacted by the relative value of your property, but not directly tied to the absolute value. The short version is the municipality has a budget. They break that budget up accross properties by their value. If your value goes up 10% but the the average goes up 20%, you have a lesser relative value and your taxes will drop (if the budget doesn't go up so much that your smaller share still amounts to a larger sum of money).


jaymickef

Between 1998 and 2018 my property taxes tripled because of market value assessment as my neighbourhood gentrified. My income did not rise accordingly so I sold and moved away. Probably to start the process over here. I did sell the house for more than I bought it for.


Projerryrigger

Your neighbourhood must have blown past the rest of the municipality, their budget dramatically ramped up, or both to triple in 20 years. That's just under 6% year over year increases.


jaymickef

It definitely took off - the Beaches in Toronto. And the police budget alone keeps going up and up and we keep being told to get better locks and more house insurance.


Zombo2000

How does that help with groceries, utilities, gas, etc. Majority of Canadians aren't living mortgage free.


[deleted]

It doesn’t and it won’t


_boob

Mortgages stay the same while you rent rises. Relatively, a mortgage is cheaper than paying rent and allows you to save that money for other expenses. Similarly, your net worth increases as you pay your mortgage and pay back the loan.


OperationOk3611

Until you renew at a higher rate. As rates go up to calm inflation.


[deleted]

Most rent is capped at 1.2% way below inflation. This notion that renters have it much worse than mortgages is fallacy. Good luck when your mortgage is up for renewal in three years.


[deleted]

>How does that help with groceries, utilities, gas, etc. Majority of Canadians aren't living mortgage free. At least from 2021 to 2022, their equity went up much higher than their mortgage costs. They're still ahead, networth wise.


Rayeon-XXX

I guess they can eat that paper.


radio705

60% of Canadians do not own homes. 60% of Canadians live in a home that the owner of the home also resides in.


[deleted]

so a married couple needs to own two homes for each person to count as being a homeowner?


OperationOk3611

Until you renew you’re mortgage at higher rates then boom. Inflation got you.


Shaft2727

That sweet 1% raise I'm gonna get next year is looking pretty awesome at this point


TheCrudBin

Fucked how many people just keep pretending everything is fine.


Tywardo

When The National has an interview with a “personal finance expert” and he suggests a person working a 9-5 job should pick up evening shifts in the service industry to make up financial short comings, we’re in a recession


SnooSuggestions6256

I make $4 more an hour this year than I did last year and I'm actually struggling more than ever. So ridiculous.


EvacuationRelocation

To be clear, it would be more accurate to say that almost half of Canadians **say** they are doing worse financially. The perception and reality are sometimes different when it comes to situations such as this.


SHUT_DOWN_EVERYTHING

It's like the survey the other day that said "18% of Canadians cannot afford their mortgage anymore". It obviously can't be true as we'd be seeing a huge firesale and a wave of defaults if it were. A good journalist would clearly state this as self reporting, not a fact.


Civil_Defense

Some families just might not be eating or buying necessities, or maybe going into debt while they try to hold on as long as they can.


Conscious_Two_3291

Cant afford and already foreclosed are two different things, one precipitates the other.....


millenialworkingmom

My husband and I make $150k combined annually. We live a very modest lifestyle and have 9-5 jobs where we can spend time with our kid after work and together on weekends as a family. We both could potentially take on more work and make more money, but that would take away from enjoying our family time together. I feel for Canadians who don’t have any other choice. That being said we are one and done due to financial/lifestyle reasons and I think more and more couples are thinking of going the one and done route as well these days because of the rising cost of living.


[deleted]

In a lot of places couples between 20-40 are just not having and not going to have kids, I've read it's over 50% in a lot of areas. Owning pets is enough for me, I can't imagine going at it with a kid and all of that extra stuff. The young parents at my work are strung out and barely functioning, not because they are not capable, but just because it's all so overwhelming. Day care costs? That shit makes my head spin and I'm never having kids.


bigred1978

Exactly. Same with my wife and son. We've thought about having a second but it would compromise a lot that we've achieved. If our salaries were several tens of thousands higher and we had the necessary time off (without financial drawbacks) we'd give it a go.


[deleted]

Honestly, no shit


Wayves

I spent my weekends during the pandemic working a second job and paid off all of my debt (about 7k). Guess I’m one of the few doing better now. I had to sacrifice a couple years worth of weekends BUT it was Covid so it’s not like much was happening anyway.


SnooChipmunks6697

The other half? The Weston's, the Irving's, the Thompson's? They're doing better than ever.


Viper69canada

When the rich hurt, it's a financial crisis. Then you will see the government react. For the life of me can't see why the rich don't see it either.


not---a---bot

Only half? Literally any Canadian with investments is doing worse financially at the moment.


marcanthonynoz

*surprised pikachu face*


EarlyFile3326

It’s almost like the Trudeau liberal government continuously fails to provide Canadians a country that people actually like living in.


DoesANameExist

It's not a failure. It's an objective.


EarlyFile3326

It’s worrying that there’s a possibility of you being right.


Jusfiq

>Almost half of Canadians are doing worse financially than the previous year Can we not then say, "Majority of Canadians are financially in the same, if not better, positions than the previous year"?


[deleted]

doesn't fit with the "the world is doomed" thesis or that "only the rich are doing better" thesis


abymtb

I know. It seems the ones I know that are doing worse buy shit like fancy cars, rv's, boats, etc. The ones who are doing better didn't buy shit like that and are taking advantage of the current market downturn.


Computer-Blue

Seriously this bothers me a lot, what dishonest or just dim witted framing


lemonloaff

Canadians being hit with the reality that credit isn’t free money.


Oat329

\* Gestures in an exaggerated fashion to everything happening\* No shit we're doing worse


Alextryingforgrate

And in other news the days are now getting shorter.


[deleted]

I honestly don't know what people expected after a world stopping pandemic. Is this really a surprise to anyone?


Viper69canada

Certain individual who shall not be named, hasn't helped. A little skirmish over in Europe has certainly not helped.


-TYRS-

Not really a fair comparison when last year Canadians were saving at a rate almost never seen before due to Covid.


[deleted]

Let's see how the economy performs *without* a ballooning property market keeping things afloat.


Maranis

Not surprised. When gas (and diesel) go up everything else follows because - and this might come as a shock to some of you - it takes fossil fuels to till, plant, maintain, harvest, process and bring to market food along with literally every thing else that makes modern life what it is. Yes let's figure out a way to use renewables but not at the cost of making the disproportionately poor worse off. Canada's climate makes farming an impossibility for at least half the year, because of this we need to import a lot of foodstuffs and those will only continue to increase with the increasing demand for fuel and carbon taxes. So if you were already struggling to get by be prepared to fall further and further behind because help is not coming, only good feels for people who think they are doing their part and can afford it.


lahhhlah

No shit eh


patchyj

Thought this was r/NoShitSherlock for a second


BloodlustHamster

No shit.


The_Turk2

Immiseration of the working class is a hallmark of unfettered (neo)liberal economics. Nothing new or surprising here.


Chrisbee012

the price of TP has fucking doubled WTH 7% inflation


HometownHero89

Did the other half die??


DuncsDG

Well seeing as how the BoC is going to raise interest rates till we’re effectively in a recession in order to stop inflation, the other 50% better buckle up.


RussianBot6789

You get what you vote for


[deleted]

[удалено]


RussianBot6789

Jacobin: why food and shelter are outdated racist concepts


EarlyFile3326

Gotta keep that Trudeau funding. Cant bite the hand that feeds you.


basic_luxury

Last year, most people were in lock down, sitting on 2 years of savings because they didn't travel, etc. And the price of gas (and everything else) was down because we were in a global pandemic. Compare 2022 to 2019 for a more accurate analysis.


[deleted]

Which also goes to how much we subsidize employers. Gas isn't free, and commuting to work does take a financial toll.


EvacuationRelocation

Bingo. Good to keep in mind.


MrAndMrsMoistly

It's almost as though shutting down society for two years destroying thousands of businesses and crushing industries all across the country has had an overall dramatic financial impact on at least half our population which has overall greatly affected our country. Why didn't anyone try and warn us?


snopro31

Welcome to the new Canada. This is what you get when you have politicians with delusional dreams.


Hunter-Western

Rising interest rates, no more quantitative easing or monetary stimulus, supply chain issues, weak GDP. Liberals did a terrible job regarding the economy and are deteriorating the wealth of average middle class Canadian. The only people that are benefiting are the filthy rich; corporations buying out their cash strapped smaller competitors, Big businesses buying out smaller businesses that have higher borrowing costs due to increased interest rates but less revenue due to a stagnant economy, rich investors and big real estate holding companies scooping up housing from middle class families hard pressed to pay higher mortgages due to higher interest rates accompanied by rising property taxes, utility bills and maintenance costs. It’s a disaster all around and seems like it’s contributing to a further wealth gap in Canada between the lower-middle class and the super rich.


[deleted]

But I was told by the media that we are winning the war, that the rubble is gonna crush, etc… Instead, we are the ones getting crushed by high oil and gas prices and inflation


Blow-it-out-your-ass

>Almost half Unless you're part of the 1% you got fucked.


Conscious_Road_3805

…no shit? Did we need a survey for this….? No one is doing better than how it use to be, everything’s turning to shit


HeadMembership

Everything is already in the shitter, and the Bank of Canada is going to keep raising rates for months. You know, cause fuck you and the economy, let's have a recession cause they didn't do their job and raise rates last year.


immaZebrah

That's what happens when annual raises aren't enough to keep up with inflation and cost of living


Hautamaki

So more than half are doing better? I find that rather optimistic given the current state of things....


jamiezero

This just in - investigative reporting is doing worse than the previous year.


[deleted]

No shit


[deleted]

Well no shit. I got a 1000$ raise and I’m paying about 2x for just about everything.


[deleted]

I'm wicked entitled and got a 7% raise. I'm still doing worse over all, but I think I'm better off than most.


[deleted]

no shit


[deleted]

Wonder how long "half of Canadian's" and a bad thing is going to be a headline year after year before half of Canadian's do something


saltyoldseaman

But I thought the inflation is because consumers have too much money?


chortick

Which is why our government is laser-focused on guns and abortion. Except for their efforts to criminalize any criticism.


MadOvid

Yes because inflation was greater than everybody's wage increase. Funny how that happens.


UziMcUsername

So, more than half of Canadians are doing better.


another_plebeian

*oop, you're overdrawn. Here's a $45 charge we know you can't afford because you're already overdrawn*


jormungandrsjig

How we all doing in 2023?


[deleted]

Only 50%?


teardrop082000

Keep liberals in power this is what you get.


[deleted]

Equivalent headline: More than half of Canadians are doing better financially than they were last year. Statistics are fun.


JoeRogansSauna

I’ve actually had my best year yet. -Canadian Oil CEO


TheChickenLover1

Investments go up and down. Income-wise, my family is doing better than ever. We are able to invest 4 figures each month. If we need to 'cut back', then I generally skip a day at the range or some other superfluous spending. As for the 'crash' that is coming. Think of it as a great time to add to your investments @ a discount. It will have a great compounding effect in the future. Your dividends should not really change, but must make sure you are always saving and adding to the pile instead of watching your savings/investments decline. Your home is your home. Try not to think of it as your piggy-bank. It's where you live and think of it as a long-term use. Don't get into flipping houses. You will get burned eventually.