Think cheap oil is good for the economy? Not when it is caused by low demand from economies in free fall. This may come as a surprise to some Americans currently enjoying the price of much cheaper gas, but if you are a Canadian, you are suffering as your currency is rapidly losing its value. The Canadian lesson should serve as a reminder that this can and will happen even in First World countries.
How would it affect you to see your grocery bills increase by 5%, then 10%, then 30%, then even higher? Canadians are suffering this reality today. Prices of food items increased as much as 38% in 2015. (See: http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/econ155b-eng.htm) However, this is using the government’s averaged figures and totally discounts areas in Canada where prices have spiked far higher. What is worse, 2016 is already on track to see even higher price spikes and Canadians literally unable to afford even the basic food staples. Soon Canada could be experiencing a true food emergency. Read more
