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The size of a country's general economy is ordinarily estimated by its GDP, or gross domestic product, which is the estimation of every single last great and administration delivered inside a nation in a given year.
For a layman like me the only measurement that I look at for the health of the economy is the prices of goods. Right now the price of pork has increased 50% and I am afraid that it is an indication of inflation. We have to admit that inflation causes prices to rise unreasonably.
This pandemic has knocked the stuffing out of the economy where I am. The unemployment rate is up and there are lots of people out of work.
The government is spending money like a drunken sailor on shore leave with all these bailout packages. My grocery bill has gone up 15% in the past year as has my gas bill. Yet my 3 pensions saw only a 1% cost of living increase on each of them.
Thank goodness that I was able to put away money while I was still in the work force. Thank goodness that I own my modest home with no mortgage left on it.
If anyone follows Alberta you know we are known for oil, over the last couple of years we have been kicked in both cheeks many times with prices and now COVID, 100,000 Jobs lost in the last 12 months and housing markets taking a **** kicking, I think many of us are in the same boat will the cost of Electricity up 30% along with food cost and gas.
The Canadian government is spending money here that my great grand kids will be paying back.