Wages #11 – Canada and Financial Repression


The average weekly earnings of non-farm payroll employees in Canada rose 1.8 per cent in the year ended February, but they failed to keep pace with inflation.

Inflation was 2.6 per cent.


How is it going where you are ?


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  • NascentMind

    Only those that can decide there own wage rises will get proper rises.
    The rest of us will be screwed into the the ground overtime.

    Someday’s I think all this austerity is to realign the world order, to prepare for the forlorn hope that
    eventually the Americans and the Chinese and Indian middle classes will start taking up the consumption. 
    and the Europeans will take up production. Once the inflation has eroded life styles to make production in Europe
    and more viable. The Chinese and India will not trade fairly, the 1,338,299,51 population of china can easily
    produce and consume within her own boarders. If we want pay rises we need to move to china.



    • Randall

      My personal choice of freedom from servitude, confinement or oppression will preclude my personal consumption aligning with China for any gain over inflation.  However, the “Made in UK” label is very attractive to me and should market well in my consumption realignment.

    • Windcutter

      I am not sure whether there is a ‘great plan’ to realign the world order. Through the current financial system and money creation lying in the hands of the bankers, we are necessarily being forced into austerity in order to pay the debts.

      The western middle classes have been hollowed out already anyway. The Asians are indeed consuming more of the stuff that they produce with an ever increasing middle class, but I expect them to continue to export to the west as the manufacturing plants are located in Asia and the west would find it hard to restart production with the high costs of labour and regulation.

      Regarding fair trade. Well, the west has been exploiting, robbing and plundering the world for centuries, so I can’t see they should complain if the Asians through their currency, lack of regulations and low cost of labour are claiming back a bit of an advantage now. They are not exactly sending in armies to create colonies. The US in particular has had over 60 years of economic dominance after the second world war, through loans, intact production and then the dollar as global currency. That is not fair, now is it?

      At what standard of living is an affordable level? How can it be measured?

      Both on the personal level and on a national level?

      Clearly if it required to go into perpetual debt on a personal level, then the level has been exceeded. On a sovereign level the question is whether the state should have to borrow its own currency.

      This whole money thing is damned impossible to understand. 

      • NascentMind

        I don’t think Austerity will pay nothing but blood.
        A fair standard of living is, shelter, warmth, water, basic food. TV. ( for government reasons )
        If you want more you will have to earn it, for a fair days pay. Not the driven into the ground, make the few wealthy system we have know.
        I hate crony capitalism! Only responsible social capitalism can work.

        Central Banks can right cheques to themselves? If the Euro collapse it will be war; or a Gentlemanly  weekend where they do just that.

    • Windcutter

      Oh, and if you move to China then your wages will take a massive drop, so there is room to raise them.

      • NascentMind

        In addition; The understanding of the system is indeed hard, but i can say this. I’m looking forward to Mystics return and his posts on INET.
        George Soros set it up, and put in big money. Because he can see something BAD really BAD, that he wants to avoid. Not for him;  he is at end life stage, 
        but the man has children, and I guess grandchildren.  He wants to protect their future. The next few weeks will be interesting.

  • Mzagar

    In Finland the salaries double in ten years http://www.findikaattori.fi/en/13, however the disposable income for households increase by 10 % over 20 years http://www.findikaattori.fi/en/60

    I just wonder who is getting the money.

    • Mzagar

       sorry 20% over 20 years …

  • joebhed

    OH Canada !

    Here’s where she went wrong.


    That other Canadian Hockey Stick.

    My friend Will Abram is well worth listening to.
    Please do.

    • CSArichardo

      Great thanks for that.  I agree the government owns the Bank of canada and it can MMT money into existence.  This assures more citizens benefit.  I did a series of posts a year or so ago on another Canadian group, in Quebec, who have been saying pretty much the same for a generation.

      Check out my Social Credit posts   http://overthepeak.com/wordpress/archives/4249

      • joebhed

        I am familiar with Major Douglas’ work and am a Michael Journal subscriber.
        I will check out your posts soon.

        Yeah, that mathematical thing is what happens when you have an engineer discover the ‘confidence trick’ of our money system, as Soddy called it.