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2022 Is Going To Cost Even More ! :-(
January 2, 2022
11:30 am
Dean
Valhalla Mountains, British Columbia
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.
Following last year's trend in 2021 ... prices for Food, Homes, Fuel, Vehicles, Clothing, Etc., are all going to continue to Go ⬆, at an alarming rate.

Today's CTV News article & vid on the subject :

Is anyone else here starting to change their buying habits? My wife and I
are ... not so much for 'need', but for Refusing to pay some of these New *&^%$# Ridiculous Prices. sf-confused

It's time to 'Hang On To Our Hats', and 'Hunker Down'

    Dean

sf-cool " Live Long And Prosper " sf-cool

January 2, 2022
11:49 am
Loonie
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The prices won't likely affect what we buy.
If covid goes away, we will shop in actual stores again, and will be able to do more comparison shopping. Right now, we just pay whatever they charge as we want it all delivered.
The only frivolous shopping we do is restaurants, and that is entirely within our control.

We are perhaps lucky in that some regular expenses will end this year, and that will compensate for higher prices.
Also, I will get the 10% increase in OAS starting mid-year due to age.sf-smile

January 2, 2022
2:46 pm
HermanH
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Dean said
Refusing to pay some of these New *&^%$# Ridiculous Prices.

That has been my way of life loooong before any pandemic arose. sf-cool

January 2, 2022
4:02 pm
Kidd
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I have it on great authority that ALL of our financial books are mystically, magically balance themselves. I sleep peacefully at night knowing this fact, unless... no wait, we have a moron at the helm. Oh god, we're all doomed.

January 2, 2022
4:02 pm
phrank
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I wouldn't be as annoyed about the prices if the products were quality and the service was good, but you can't even get 1 of those 2 unless you have connections or are extremely lucky.

January 2, 2022
5:36 pm
christinad
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I know my mom was shocked i paid 2.99 a pound for broccoli and she refuses to pay it and will buy frozen vegetables. I just pay the price right now but its going to hurt when the price of dairy goes up. Looks like the extra interest on gics will have to go to food.

January 3, 2022
6:49 am
savemoresaveoften
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christinad said
I know my mom was shocked i paid 2.99 a pound for broccoli and she refuses to pay it and will buy frozen vegetables. I just pay the price right now but its going to hurt when the price of dairy goes up. Looks like the extra interest on gics will have to go to food.  

fresh veggies are always a lot more expensive in the winter months. I usually have some supplies of frozen veggies as backup on weeks when no sale at all on fresh veggies.

With everything going up in prices and restaurant prices are now getting ridiculous, will certainly cook more at home. Every one a master chef after 2 years of pandemic home cooking training too haha

January 3, 2022
11:22 am
Bobbyjet11
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Kidd said
I have it on great authority that ALL of our financial books are mystically, magically balance themselves. I sleep peacefully at night knowing this fact, unless... no wait, we have a moron at the helm. Oh god, we're all doomed.  

Price gouging and inflation are prevalent around the world but yeah, let's blame the Government. Modern-day society is spoiled rotten and it is getting worse every year. Government can do only so much to protect people from themselves.

January 3, 2022
5:34 pm
Alexandre
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Is anyone else here starting to change their buying habits?

I have found savings in my car insurance. I noticed I am driving way less than I used to before pandemics, but I still need a car. I switched my car insurance to one that is per kilometer driven: CAA MyPace.
My old insurance was $2,700 annually. In 2021, I paid $700 for MyPace car insurance. Full coverage in both cases, with same or similar deductibles.

The difference of $2,000 will let me not change my grocery buying habits in 2022.

Note that CAA MyPace available for those who drive less than 12,000 km/year, and only brings substantial savings if you drive way less than that.

January 3, 2022
5:49 pm
BlueSky
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christinad said
I know my mom was shocked i paid 2.99 a pound for broccoli and she refuses to pay it and will buy frozen vegetables. I just pay the price right now but its going to hurt when the price of dairy goes up. Looks like the extra interest on gics will have to go to food.  

Yes, and it's going to get much worse. A chain reaction in the supply chain will cause major price hikes across the board.

savemoresaveoften said

fresh veggies are always a lot more expensive in the winter months. I usually have some supplies of frozen veggies as backup on weeks when no sale at all on fresh veggies.

  

Funny how prices, all go up -- but never down, eh?
When the price of oil tumbled' not too far ago, to around $30-$50 a barrel, there was no reprieve to customers by the airline industry, flying tickets remained at the same level. The fact is that all level of governments are enjoying windfalls of revenue from high gas prices, and everything else.

January 3, 2022
6:17 pm
Kidd
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If you stand back and look at where the inflationary pressures are coming from, their source. You will see that in most cases it's from the government.

For BlueSky, post #10. Alberta were actually paying the Americans to take their oil. The pump prices did NOT drop because the governments saw the opportunity to add tax.

CPP premiums went up in 2022, more than originally planned.
Minimum wage in ontario went up to $15 in 2022.
Vancouver property tax has been reassessed to current values. Was your mill rate reduced? I saw some businesses on TV saying, their property tax bill went up by $15,000.
Energy costs in ontario need to be approved by the energy board. Our bills are divided into subcategories, delivery fee, regulator fee, usage. If the usage rate is held, they just increase the delivery fee.
Insurance rates are also approved by a government agency. Car insurance goes down, home insurance goes up.

It's been reported time and time again, we in canada pay the highest rates for almost everything. From banking fees (mers), cell rates, toronto airport pays the highest government fees, landing fees (i believe in the world).

So... when "your" government sticks it to business, the businesses have no choice but to pass on their increased costs onto us.

January 4, 2022
5:25 am
savemoresaveoften
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Kidd said
If you stand back and look at where the inflationary pressures are coming from, their source. You will see that in most cases it's from the government.

For BlueSky, post #10. Alberta were actually paying the Americans to take their oil. The pump prices did NOT drop because the governments saw the opportunity to add tax.

CPP premiums went up in 2022, more than originally planned.
Minimum wage in ontario went up to $15 in 2022.
Vancouver property tax has been reassessed to current values. Was your mill rate reduced? I saw some businesses on TV saying, their property tax bill went up by $15,000.
Energy costs in ontario need to be approved by the energy board. Our bills are divided into subcategories, delivery fee, regulator fee, usage. If the usage rate is held, they just increase the delivery fee.
Insurance rates are also approved by a government agency. Car insurance goes down, home insurance goes up.

It's been reported time and time again, we in canada pay the highest rates for almost everything. From banking fees (mers), cell rates, toronto airport pays the highest government fees, landing fees (i believe in the world).

So... when "your" government sticks it to business, the businesses have no choice but to pass on their increased costs onto us.  

Out of all the things u mentioned, the CPP increase is the shameless of all. They figure with lower rates and gig economy, the regular rate of contribution wont cut it down the road. Instead of making its "investment professionals" do a better job on their job, they just decide to bump the CPP rates. Thats the easiest path and NO one can say no to it. The big bosses at CPP continue to earn their multi-millions paycheck plus their ridiculous pension now and forever....

For those who may not be aware, the guys at CPP, OTPP are paid mega bucks. They got paid a LOT more than the same jobs at even banks...

January 4, 2022
6:17 am
Bill
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Not sure how the CPP plan returns compare to the benchmarks, I haven't heard they're doing worse than mutual funds, other pensions funds, etc. With larger pools of money to invest it must be harder to do, I'd think.

I think it's more that the anti-capitalist crowd in charge want future Canadians to get their pension cheques not from the private sector but from the gov't (e.g. as in some socialist European countries), that's why CPP will continue to be enriched. Partly defensible, I guess, what with decline of defined benefit private sector pensions plus gig economy with no employee pension plans. I think Canadians are in sync with that, most prefer gov't over corporations. (Also CPP funds can be invested in virtue-signaling-able, "ethical" investments, e.g. green stuff, so another reason we/gov't loves larger CPP contributions - until we lose it, that is.)

And how can gov't waste money? Unless you think the politicians are secretly divvying it up amongst themselves all that excess dough they rake in goes back to us, or at least some of us, including to many of our well-compensated (e.g. haven't lost a dime of pay in the last 2 years) and pensioned gov't-at-some-level-employed fellow citizens. Somehow it all goes back into the economy (except for that spent by out-of-country vacationers, snowbirds, etc), it's not like the gov't is hoarding it, in fact they're still borrowing more to throw back at us with unlimited new ideas, e.g. look after our pre-school kids virtually for no charge, free meds, guaranteed income being just 3 of the latest popular ideas being run up the flagpole.

In my view, Bobbyjet11 nailed it, "Modern day society is spoiled rotten, and it is getting worse every year". Sure way to get Canadians' vote is to come up with new ways, new programs, to throw money at the people, and the successful politicians get that.

January 4, 2022
9:21 am
Norman1
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CPP premiums are going up because of the improvements in benefits.

There's an additional premium increase from the higher than expected maximum pensionable earnings or YMPE. YMPE was expected to be $63,700. But the actual amount is going to be $64,900, for a 5.3% increase, resulting from a higher than expected increase in the average wage. As a result, those earning $64,900 or more will be paying CPP premiums on an extra $1,200 of earnings.

January 4, 2022
10:24 am
Norman1
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The CPP fund ten-year performance is 11.6% per annum to September 30, 2021.

In the same time, TSX 300 Total Return Index returned 8.8% per annum (from 32,147.72 to 75,008.99). The S&P 500 Total Return Index returned 16.6% per annum (from 1,930.79 to 8,994.83).

January 4, 2022
10:24 am
Kidd
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I agree with Norman1 in post #14.

CPP and EI are not solely paid for by the employee. Your employer must also pay. For every dollar the employee pays to EI, their employer pays 1.4.

In the case of CPP, it's a one for one basis. So an increase in the amount paid to CPP by the employee, means the employer must also pay more. It's an additional expense to a struggling sector. Death by a thousand cuts.

January 4, 2022
11:28 am
Bruford
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Bobbyjet11 said

Price gouging and inflation are prevalent around the world but yeah, let's blame the Government. Modern-day society is spoiled rotten and it is getting worse every year. Government can do only so much to protect people from themselves.  

Of course the Government is to blame, they have the control of the purse strings. Unbridled spending and unlimited free giveaways are the culprits causing inflation. "Just"Inflation will undoubtedly continue his spendthrift ways as people will always vote for a free lunch.

January 4, 2022
4:25 pm
speedwagen
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I'm with Dean & HermanH on this 1. I've also been of that mindset for ages. Out of principle, I refuse to get screwed.

People are used to self-indulging & pay whatever it takes to get whatever they want, even when they can't afford it. The result, at least in this country where competition is non-existent, the sellers have carte blanche to gouge at will & the government does absolutely nothing to protect us...why should they, the more earnings, the more taxes to collect, ergo they're all in it together.

Unless the rest join the likes of Dean , HermanH & I, they'll know no limit. If everyone in Canada did likewise, we'd be doing the dictating.

January 4, 2022
7:46 pm
Loonie
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It won't work like that though.
If we all refused to pay the given price, eventually they wouldn't carry it any more because it wouldn't be profitable enough. We've all gotta eat; and I, at least, like to have choices.

How do you prove price gouging anyway? There are some very real costs that have gone up in so many sectors. Perhaps the only real measure is excessive profits, but how would you tackle that in a world where such profits are rewarded?

January 5, 2022
9:32 am
Dean
Valhalla Mountains, British Columbia
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.
Da 'BEEF' sf-wink

With some of the better cuts costing well over $40/Kg now, the Wife & I have phased out most Beef in our diets. The only exception is lean-ground, and we only buy that when it comes on sale (deep discount) as a loss-leader.

As for the other meats (chicken/pork/fish/etc.) we now only buy them on loss-leader deep discounts, as well ... usually found on the front page of the grocery flyers.

Our chest freezer has paid for itself, many times over. sf-laugh

    Dean

sf-cool " Live Long And Prosper " sf-cool

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