Freeland Celebrates Meager Inflation Dip

Finance Minister Freeland seems more out of touch than ever. Her latest claim of “progress” on inflation shows just how disconnected she is from the reality Canadians are living.

With inflation still hitting our wallets hard, Freeland looked at the latest numbers and somehow decided it was time to celebrate “real progress.” This is a slap in the face to everyone struggling with the high costs caused by her and Trudeau’s reckless spending.

It’s like she’s living in some alternate universe where soaring prices are a win. While experts are raising alarms, Freeland is busy telling bedtime stories about recovery.

Canadians are barely getting by, and Freeland is up in her ivory tower, celebrating. Can she even do basic math, or does she need the World Economic Forum to help her out with simple addition?

Does she understand the basics of monetary policy, or is she completely lost without foreign advisors? Her disconnect is starting to look a lot like incompetence.

As our livelihoods are under threat, we need someone reliable at the helm of our economy. Instead, we have Freeland, spinning fairy tales, ignoring expert warnings, and steering us straight toward disaster.

Freeland’s Fairy Tale Budget Blasted

Canada’s Finance Minister Chrystia Freeland is living in fantasy land, completely out of touch with the economic realities Canadians are facing. Her latest brag about the budget supposedly “creating conditions” for interest rate cuts is pure delusion.

This ridiculous claim goes against what experts are saying. They’re warning that the budget’s massive new spending could actually stoke inflation and make rate cuts impossible. 

But Freeland and the Trudeau Liberals never let facts get in the way of their fairy tales to justify reckless spending.

Freeland recently said with a straight face that “the federal budget presented to Parliament last month had created conditions for interest rates to come down.” 

Sure, and the Tooth Fairy told her that. It’s absurd gaslighting from a Finance Minister who’s completely out of touch with basic economics.

Real experts point out that the budget’s $50 billion in new spending over five years could actually hamper rate cuts by fueling inflation. 

When asked if lower rates are appropriate in June, Freeland cluelessly claimed “we have been conscious of our side of things.” Conscious of fantasy land, maybe.

No Finance Minister living in reality could look at the budget’s bloated subsidies and think they “create conditions” for rate cuts. That’s like pouring gasoline on a fire and saying you’re making it cooler.

Freeland’s delusion was on full display when she boasted, “inflation has come down to its lowest point in three years. That is real progress.” 

Don’t let the facts ruin the fairy tale. Inflation dropping to 2.7% from 2.9% is practically nothing; it’s still high and crushing Canadians. Pretending this is “progress” shows just how out of touch Freeland is with what people are really dealing with.

Canadians don’t need a Finance Minister crunching numbers in fantasy land. They need relief from soaring costs that Liberal mismanagement keeps making worse.

Freeland blissfully ignores top economists who say rate cuts are premature until inflation shows sustained declines. But stubbornly high prices demolish her fantasy world where she claims progress.

While the Finance Minister lives in delusion, the Bank of Canada acknowledges economic reality, insisting they need “to see more sustained evidence inflation is coming down before we could consider moving to a more neutral rate.”

Freeland clearly missed the memo explaining that rate hikes can’t be reversed at the first hint of stability. But Trudeau’s cabinet never lets facts get in the way of their fantasy narratives.

No rational observer reviewing hundreds of billions in new Liberal spending can conclude this government exercises restraint. Pretending otherwise is just delusional.

Bank of Canada Warns High Rates to Persist

In fact, Freeland’s dreamy talk about rate cuts is way off base compared to what the Bank of Canada has been saying. The central bank has made it pretty clear that interest rates are going to stay high through 2025 to keep inflation in check. 

So, Freeland’s predictions sound more like wishful thinking.

Even David Dodge, the former Governor of the Bank of Canada, said, “It’s going to be a long period of elevated interest rates right through 2024 and into 2025.” The bank’s forecast has rates hovering around 5% for a good while.

But Freeland keeps talking about how we’re on the brink of rate cuts. It’s like she’s living in a different world, completely out of touch with what’s really happening. Her optimistic outlook is totally at odds with what the central bank is saying.

A report from TD Bank predicts that rates will only drop to about 2.25% by 2025, which is still pretty high. Yet Freeland acts like significant cuts are just around the corner. It’s pretty disturbing how disconnected she is from expert forecasts.

With people struggling under high borrowing costs, we need a Finance Minister who is realistic about the future, not someone selling false hope. The reality, according to the bank, is that we’re in for a long stretch of high rates.

Mortgage holders are feeling the pinch from these rising costs. Meanwhile, Freeland keeps talking about rate cuts, showing just how out of touch she is with what Canadians are going through.

The central bank couldn’t be clearer about the high rates sticking around. But Freeland seems to ignore these warnings and instead follows her own imaginary scenario, straight up lying. This lack of understanding about our economic path is really worrying.

Freeland Peddles Fiction While Canadians Struggle

Worse still, Minister Freeland keeps talking about inflation easing up, but she’s ignoring the ongoing economic pain people are feeling. Many of us think the official stats don’t really reflect our daily struggles, and honestly, we have a point.

Thomas Torgerson, Managing Director of Global Sovereign Ratings at Morningstar DBRS, puts it well: “Over the past several years, we’ve seen a cumulative rise in prices.”

People remember how things used to be cheaper. This “accumulation” makes it feel like inflation is way worse than what the official data shows.

Take groceries, for example. We buy them all the time, so price hikes hit hard. But we don’t buy cars every day, so we remember when they were cheaper. As the Howe Institute points out, “It’s the price that they paid at that time that stays in people’s minds.”

Another issue with government inflation stats is they don’t include big expenses like mortgage payments that really strain family budgets. For many of us, housing costs are a major worry, but they’re missing from the official numbers.

And then there are things like gas prices that jump all over the place. Even if gas prices have come down a bit lately, they’re still much higher than a few years ago.

Some services, like getting a haircut, might double in price, but that barely shows up in the Consumer Price Index . Yet, these costs still hurt our wallets.

The flaws in measuring inflation mean people aren’t wrong to doubt the government’s rosy data. As Torgerson says, “Consumers don’t consult the statistical releases to form their opinion.”

Canadians experience inflation in real life, not through questionable statistics from a questionable minister. Younger people, in particular, feel shut out of buying big things like homes, which really shapes their views on affordability.

So, hearing that inflation is easing isn’t much comfort when prices are still way higher than before the pandemic.

Paycheck-to-paycheck Canadians need a Finance Minister who’s grounded in reality, not someone spinning fairy tales. With inflation hitting household budgets hard, the middle class needs real solutions, not empty talk about imaginary progress.

It’s pretty arrogant for Freeland to look at rising inflation and declare victory. Her indifference to what everyday Canadians are going through shows just how out of touch Trudeau’s inner circle really is.

No serious Finance Minister would look at just 2.7% falling from just 2.9%  inflation and call it “real progress.” 

The only thing real here is Freeland’s inability to understand monetary policy. Her delusional claims about taming inflation show how clueless she is.

Is she even capable of doing basic math or her overlords at the WEF help her with that?

With prices rising and people’s livelihoods at risk, Canada needs a steady hand on its finances, not Freeland’s flights of fancy. Her indifference to the impact of inflation shows a lack of respect for the working class.

Fantasy land isn’t where a Finance Minister should be while households struggle. Canadians deserve better than a Liberal government lost in delusion. Voters should consign Freeland’s fiscal fairy tales to the fiction section where they belong.