Imports are more expensive today, and trips to the U.S. less affordable. Common consumer items are becoming luxuries. The Bank of Canada hiked our interest rates because Alan Greenspan, chairman of the U.S. Federal Reserve, did first. But Mr. Greenspan was acting to cool down the U.S. economy, which is threatening to overheat and turn inflationary. Unemployment in the U.S. is too low.
Factories are too busy.
Workers are earning too high wages. That's why the Fed put on the brakes. But Canada's economy is far more fragile. Our tax rates are still oppressive, government rhetoric to the contrary. There has been no attempt to reduce Canada's massive national debt.