4 ms·

It's been nearly 20 years since inflation has been this high in Canada

25 points by xojoc 5y ago

GaryTang 5y ago
Did anyone else see the job posting for a dishwasher @ $50k/yr in Vancouver? No experience required either https://www.narcity.com/vancouver/vancouver-restaurant-dishwasher-job-ad-has-gone-viral-because-it-pays-a-heck-of-a-lot https://www.narcity.com/vancouver/vancouver-restaurant-dishw...
- spaetzleesser 5y ago
  I am ok with lower salaries catching up. For decades it used to be that mainly the top 10% benefited from a better economy so maybe it’s time everybody else’s incomes to go up. It’s against my own interest but it seems fair. Nobody worried about inflation when house prices, stocks, healthcare and education shot up. It seems they worry only now that low incomes have pressure to go up.
  - 6510 5y ago
    If you look at customers served by an occupation it's needlessly absurd to pay as little as possible when there is a hand full of staff making millions of units/day. It doesn't benefit the economy. Many if not most of these are factory jobs that are horrific to do while supper important for economy of scale but I think with some effort we could also make a difference between a truck driver moving goods for 10000 people vs 1 customer. Or a dishwasher in a soup kitchen serving 2000 people vs a small restaurant serving 30.
- 908B64B197 5y ago
  Cheaper than closing the restaurant! Plus at that price, you can afford to be picky.
  - spaetzleesser 5y ago
    And maybe their workers will actually be engaged in their jobs. I am always confused when low-wage employers complain that none of their workers give a sh*t.
- moistly 5y ago
  Roughly $25/hr, in Vancouver, the most expensive city on the continent. Sounds like a wage that is fair.
cm2187 5y ago
In France, the gvt's response to rising inflation is helicopter money. It's like if they never opened an history book and never heard of the weimar republic inflation...
- Gunax 5y ago
  Is helicopter money a term for additional spending?
  - cm2187 5y ago
    Not just additional spending, direct money on everyone's bank account (you could have built some infrastructure, etc). A recipe for making inflation worse.
  - chomp 5y ago
    Not additional spending exactly, but direct payments to the population to avoid a liquidity trap. It's a trade off, gaining a little on GDP by increasing inflation. See: Japan for what a persistent liquidity trap does to a country. Helicopter money is a bit unconventional, and doesn't solve every economic woe. It's just one of the 1000 tools in the monetary policy toolbox. EDIT: It's important to note that mild inflation is a good thing. It spurs people to buy now rather than later. If inflation was zero for a hypothetical country, why buy a house today if you know the house would be the same price 10 years from now? That spending today cycles dollars into the economy that keeps the engine running. 2% is generally regarded as pretty optimal. Aggressive unconventional measures applied early has stronger effects than applied later. France has had some pretty lackluster GDP growth over the past few years, and probably sees now to be prime time to keep the engine rolling now that the country is waking back up from the pandemic. This is more or less in line with the European Central Bank's line of thinking: https://www.ecb.europa.eu/press/key/date/2021/html/ecb.sp210628~695f98b30c.en.html https://www.ecb.europa.eu/press/key/date/2021/html/ecb.sp210... France's inflation was only 2.7% for the month of September, which is a little high, but way low compared to what their more successful peers are hitting (not that 5% is what you should be aiming for, but as a yardstick for hot economies, it means they have some wiggle room). If France wants to keep the renewed interest in spending going, especially with their historical sluggish growth, they need to apply a little more juice to the economy.
happynacho 5y ago
"transitory"
commandlinefan 5y ago
Didn't we know this was going to happen as soon as we shut everything down last year to combat Covid? This shouldn't be a surprise to anybody... we collectively agreed that this was the price we were willing to pay to save lives.
- bitshiftfaced 5y ago
  We thought the opposite last year. We didn't think that over 2% inflation would happen until around March of this year. https://fred.stlouisfed.org/series/T5YIE https://fred.stlouisfed.org/series/T5YIE
- anm89 5y ago
  You should have tried saying that on HN in the first quarter of this year. The concept was heavily mocked
LurkingPenguin 5y ago
I told my Canadian friends that legalizing marijuana would eventually have consequences. Nobody listened.

25 points by xojoc 5y ago

Did anyone else see the job posting for a dishwasher @ $50k/yr in Vancouver? No experience required either https://www.narcity.com/vancouver/vancouver-restaurant-dishwasher-job-ad-has-gone-viral-because-it-pays-a-heck-of-a-lot https://www.narcity.com/vancouver/vancouver-restaurant-dishw...

spaetzleesser 5y ago
I am ok with lower salaries catching up. For decades it used to be that mainly the top 10% benefited from a better economy so maybe it’s time everybody else’s incomes to go up. It’s against my own interest but it seems fair. Nobody worried about inflation when house prices, stocks, healthcare and education shot up. It seems they worry only now that low incomes have pressure to go up.
- 6510 5y ago
  If you look at customers served by an occupation it's needlessly absurd to pay as little as possible when there is a hand full of staff making millions of units/day. It doesn't benefit the economy. Many if not most of these are factory jobs that are horrific to do while supper important for economy of scale but I think with some effort we could also make a difference between a truck driver moving goods for 10000 people vs 1 customer. Or a dishwasher in a soup kitchen serving 2000 people vs a small restaurant serving 30.
908B64B197 5y ago
Cheaper than closing the restaurant! Plus at that price, you can afford to be picky.
- spaetzleesser 5y ago
  And maybe their workers will actually be engaged in their jobs. I am always confused when low-wage employers complain that none of their workers give a sh*t.
moistly 5y ago
Roughly $25/hr, in Vancouver, the most expensive city on the continent. Sounds like a wage that is fair.

cm2187 5y ago

In France, the gvt's response to rising inflation is helicopter money. It's like if they never opened an history book and never heard of the weimar republic inflation...

Gunax 5y ago
Is helicopter money a term for additional spending?
- cm2187 5y ago
  Not just additional spending, direct money on everyone's bank account (you could have built some infrastructure, etc). A recipe for making inflation worse.
- chomp 5y ago
  Not additional spending exactly, but direct payments to the population to avoid a liquidity trap. It's a trade off, gaining a little on GDP by increasing inflation. See: Japan for what a persistent liquidity trap does to a country. Helicopter money is a bit unconventional, and doesn't solve every economic woe. It's just one of the 1000 tools in the monetary policy toolbox. EDIT: It's important to note that mild inflation is a good thing. It spurs people to buy now rather than later. If inflation was zero for a hypothetical country, why buy a house today if you know the house would be the same price 10 years from now? That spending today cycles dollars into the economy that keeps the engine running. 2% is generally regarded as pretty optimal. Aggressive unconventional measures applied early has stronger effects than applied later. France has had some pretty lackluster GDP growth over the past few years, and probably sees now to be prime time to keep the engine rolling now that the country is waking back up from the pandemic. This is more or less in line with the European Central Bank's line of thinking: https://www.ecb.europa.eu/press/key/date/2021/html/ecb.sp210628~695f98b30c.en.html https://www.ecb.europa.eu/press/key/date/2021/html/ecb.sp210... France's inflation was only 2.7% for the month of September, which is a little high, but way low compared to what their more successful peers are hitting (not that 5% is what you should be aiming for, but as a yardstick for hot economies, it means they have some wiggle room). If France wants to keep the renewed interest in spending going, especially with their historical sluggish growth, they need to apply a little more juice to the economy.

happynacho 5y ago

"transitory"

commandlinefan 5y ago

Didn't we know this was going to happen as soon as we shut everything down last year to combat Covid? This shouldn't be a surprise to anybody... we collectively agreed that this was the price we were willing to pay to save lives.

bitshiftfaced 5y ago
We thought the opposite last year. We didn't think that over 2% inflation would happen until around March of this year. https://fred.stlouisfed.org/series/T5YIE https://fred.stlouisfed.org/series/T5YIE
anm89 5y ago
You should have tried saying that on HN in the first quarter of this year. The concept was heavily mocked

LurkingPenguin 5y ago

I told my Canadian friends that legalizing marijuana would eventually have consequences. Nobody listened.