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Decentralized Democracy

House Hansard - 314

44th Parl. 1st Sess.
May 21, 2024 10:00AM
Context: House Hansard - 314 - May/21/24
Mrs. Cheryl Gallant
  • May/21/24 7:43:55 p.m.
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Mr. Speaker, I guess what the member just said explains that he does not understand the basic fundamentals of economics. The government threw billions of dollars into the economy. As a consequence of there being more money in the economy, prices went up, and when prices go up, inflation occurs. Maybe the member has not been grocery shopping, but a pound of hamburger on sale used to be two bucks. Now, in just a few short years, if we can get it for four and a half dollars a pound we are doing well. It is inflation. He is out of touch. What happens to bring down inflation is that interest rates are increased, and they have kept those interest rates pressuring. Now we are at the point where we are almost at zero productivity. The inflation rate being lower on a monthly basis is not necessarily a consequence of less government spending, as it is spending more, but it is a consequence of everybody's being broke.
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