Canadians Panic As Food Prices Soar On Collapsing Currency

Zerohedge ^ | 1/13/16 | Tyler Durden

[Kartographer]

The currency's decline is having a pronounced effect on Canadians' grocery bills. As Bloomberg reminds us, Canada imports around 80% of its fresh fruits and vegetables. When the loonie slides, prices for those good soar. "With lower-income households tending to spend a larger portion of income on food, this side effect of a soft currency brings them the most acute stress," Bloomberg continues.

Of course with the layoffs piling up, you can expect more households to fall into the "lower-income" category where they will have to struggle to afford things like $3 cucumbers, $8 cauliflower, and $15 Frosted Flakes. Have a look at the following tweets which underscore just how bad it is in Canada's grocery aisles

[Mad Dawgg]

"Our U.S. national debt is heading for $20 billion"

I think you meant a "T" instead of a "B" the US Gub'ment spends more than 20 Billion on toilet paper and paper clips each year...

[Lazamataz]

I'm still at work. My co-workers are starting to look at me very strangely.

Mine never stopped.

Because oddity.

Oddity never changes.

[BobL]

Thanks, that hadn’t occurred to me. Just their shale oil must be rigor mortis.

[Lazamataz]

It's starting. I have supplies and defensive measures.

Because war.

War never changes.

[familyop]

Jim Rogers said a while back that he keeps an eye on Canada, because it's a net energy exporter. While others are drawing most investor attentions to other matters, he and others like him will pounce on the right investments at the right time.

Automotive production is still going strong in China (nearly 24 million units in 2014, nearly all sold within China for Chinese drivers), India (over 3 million units recently) and other developing countries. The Russian economy is getting clobbered with current oil prices.

Big changes ahead. For now, though, we Americans will continue to be treated to sponsored propaganda claims that we are a net exporter (false by far), that there will be no more wars and that we'll see low oil prices and high dollars forever.

[mlo]

As usual, Americans kick that up a notch.

[mlo]

What’s your body armor look like?

[outofsalt]

It’s good farming country only as long as global warming lasts. Soon the libs will have you living under 3 miles of ice and they will have saved Gaia!

[Lazamataz]

Oh, we'll kick it up a notch, alright.

[Lazamataz]

Lev 2.

[njslim]

Is that Canadian bacon....??

[Lazamataz]

Wish I had Lev III but I’m happy for anything.

[Lazamataz]

[Billthedrill]

That’s...just...WRONG...

[Jim Noble]

Well, at least the Canadians got rid of the fascist Harper, Cowboy Bush’s pet poodle.

It’s gotta be great after that /s

[TADSLOS]

I’m stocking up on Brahmin steaks...and Blamco Mac and Cheese.

[familyop]

"Thanks, that hadn’t occurred to me. Just their shale oil must be rigor mortis."

Quite a few bigger companies (including foreign governments) are in the oil sands, though, and the oil sand operations are strip mines. Those strip mines won't be plugged, as is done here with fracking operations that are shut down. There's also quite a bit of conventional oil production in Canada--production that has not been depleted to extents of requiring much higher costs.

[Lazamataz]

200 year old Salsbury Steak is pretty good.

[mumblypeg]

This is why you need land. And gardening skills.

[familyop]

Good catch, and thanks. Yes, our U.S. national debt will be over $20 trillion dollars before long. For that and so many other reasons, we're heading for much more of a terrible decline.