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RMA / MBBP Newsletter

End of November 2021

Valued RMA/MBBP Members

PRICES UP BUT WE’RE DOWN

Inflation just one of the economic woes Canada faces!

The bright outlook for Canada’s economy, that expected bounce back from the COVID retraction, is looking less certain these days.

Inflation is creeping up toward 5%, putting a dent in family budgets. Protectionist measures in the United States threaten everything from autos to beef, lumber to infrastructure contracts.

On top of that, we have the devastating floods that are crippling parts of British Columbia resulting in a state of emergency.

The floods are destroying homes and businesses, washing  away farms as well as roads and rail lines. That’s making it difficult to not only get needed material to those in the flood zones, but has effectively cut off the Port of Vancouver from the rest of the country.

Vancouver’s cargo port is the largest in Canada and third largest in North America. It handles more than twice the level of cargo coming in and out of the country than Montreal, Canada’s second busiest port. With rail lines and roads shut down, getting goods to store shelves across Canada is about to get more difficult.

Fewer goods available will inevitably mean higher prices for what does arrive at a time when inflation is already an issue.

Statistics Canada reported last Wednesday that inflation for the month of October sat at 4.7% compared with a year earlier.

valued customers

That number is low compared to the sharp increases for many everyday items. Gas is up 41.7% compared with October 2020 while natural gas is up 18.7% just in time for the winter heating season. The grocery cart will be more expensive as well with beef prices up 14.4% on average, pork up 8.8% and chicken 8.3% compared with October 2020.

Despite the Bank of Canada describing inflation as temporary, don’t expect prices to drop any time soon. The price increases we have seen on store shelves do not take into account the rise in trading prices for basic crops like wheat and canola – products we not only buy to use in our own kitchens but which are used extensively in prepared crops. Case in point, a 5L bottle of Canola Oil purchased in the early spring of 2021 at Costco retailed for $7.99. To replace that today, much to my surprise and shock, that same bottle cost me $13.99.

The worldwide shortage of semiconductor chips won’t be helped by these latest problems at the Port of Vancouver or the ongoing problems at ports in Los Angeles or San Diego. These chip shortages, not expected to end any time soon, have seen auto plants facing line shutdowns at various times in Brampton, Ingersoll and Windsor.

The chip shortage is making it difficult to buy not only a new car but also televisions, appliances and video game consoles. It’s now even hitting mobile phone manufacturing.

As if all of this were not enough, we are dealing with the strongest push from protectionist forces in Washington that Canada has seen in decades, even stronger than what was seen under Donald Trump. It goes well beyond the very serious threats to the auto industry and includes attempts to shut out Canadian engineering and construction firms from American infrastructure projects. It includes shutting out Canadian softwood lumber and measures to hurt our beef and pork exports.

Earlier this year, economists within government and across the financial sector were predicting a strong economic recovery for Canada. That may still happen, but there are plenty of rough waters for Canada to go through before we can see smooth sailing  again.

Suffice to say, the outlook isn’t as rosy as just a few short months ago.

MBE is highly active in creating social awareness through social media with regards to social distancing measures and how necessary they have been in the current pandemic. Our goal is to act as a catalyst in helping the Government through tough times and enable them to bounce back from problematic scenarios. The Covid-19 crisis is still having huge repercussions on the financial sector causing catastrophic cash flows problems for most companies due to having no business activities from March 2020 to November 2021. Although various restrictions have been loosened for some businesses, it is next to impossible to get back the business they have lost as we endure our 21st month of the pandemic.

Sure the Government has tried to help with their CECRA and CERB programs but like everything else in life, these programs have their flaws.

The Health & Well-being of all our customers, clients, and stakeholders is something that MBE Inc. hopes for on a daily basis. Always take precautions and measures to keep your loved ones safe when it comes to anything regarding COVID-19.

Your Life Insurance policy with MBE is the ultimate security for you and your family. It not only provides a sense of safety but also gives you the freedom to enjoy your life without fearing the worst.

Why not take advantage of our recovery loan options as nothing is predictable in the business world these days. MBE Accounting is helping its business customers in the process of acquiring fast recovery loans. Please connect with Mr. Mahmood Naqvi: 1-866-667-1377 Ext: 205 & Mr. Kashif Jamal: 416-575-0873, Email: covid-19@rmacanada.com

MBE Insurance is offering you the best life or business insurance deals with affordable premiums. It is of the utmost importance to have the proper coverage during these unpredictable times due to the ‘COVID-19’ pandemic. To cover your business from bankruptcy or to have life insurance due to the recent pandemic, please Contact, Mr. Syed Hassan: 647-832-7265 & Mr. Kashif Jamal: 416-575-0873, Email: covid-19@rmacanada.com

Click here to view all the benefits.

Click here to become our member.

To learn more about our other memberships, Click here!

News


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MBE Business Magazine

MBE Business Magazine is a successful business magazine that is circulated throughout Ontario, Canada. Our Magazine has absorbing insights and articles on market trends, economy, stock market changes as well as interviews and advice from successful business leaders and entrepreneurs.

While the league says the vaccination policy doesn’t apply to spectators, some facilities have already brought in their own spectator mandates as well as rules allowing only one spectator per family inside the arena.

Businesses and organizations all across  the province are eager to get back to normal and do whatever it takes to avoid another shut down and limit the disruptions that come with testing and isolation policies.

That said, leagues are more than just cold hearted bureaucracies churning out edicts. They’re community hubs for civil society. Should their default position be to cave to the lowest common denominator demands of the most skittish among us? Or should they be leaders in standing up for our youth and advocating for more balanced policies?

If the GTHL scrapped the vaccine rule, there might be a few busybody parents who would send indignant emails to the league, but they’d soon quit their whining and just enjoy the game.

When kids soccer leagues got underway, the written rules sent out to parents were laughably strict. They said only one family member can attend as a spectator, players should use hand sanitizer during breaks, and no high fives were allowed.

Nobody followed those rules and nobody enforced them. Families came out to cheer on their kids, who had a great season enjoying doing something the same way they did pre COVID.

Granted there’s a difference between an outdoor activity in the summer and an indoor activity in the fall and winter but let’s hope something similar happens when it comes to striking a balance with the more over the top hockey rules.

Take as an example this one, from the GTHL’s formal guidelines: Cheering or yelling by spectators is strongly discouraged.”

No cheering in hockey?

Good luck with that.

Some rules are made to be broken.

MBE is highly active in creating social awareness through social media with regards to social distancing measures and how necessary they have been in the current pandemic. Our goal is to act as a catalyst in helping the Government through tough times and enable them to bounce back from problematic scenarios. The Covid-19 crisis is still having huge repercussions on the financial sector causing catastrophic cash flows problems for most companies due to having no business activities from March 2020 to September 2021. Although various restrictions have been loosened for some businesses, it is next to impossible to get back the business they have lost as we endure our 19th month of the pandemic.

Sure the Government has tried to help with their CECRA and CERB programs but like everything else in life, these programs have their flaws.

The Health & Well-being of all our customers, clients, and stakeholders is something that MBE Inc. hopes for on a daily basis. Always take precautions and measures to keep your loved ones safe when it comes to anything regarding COVID-19.

Your Life Insurance policy with MBE is the ultimate security for you and your family. It not only provides a sense of safety but also gives you the freedom to enjoy your life without fearing the worst.

Why not take advantage of our recovery loan options as nothing is predictable in the business world these days. MBE Accounting is helping its business customers in the process of acquiring fast recovery loans. Please connect with Mr. Mahmood Naqvi: 1-866-667-1377 Ext: 205 & Mr. Kashif Jamal: 416-575-0873, Email: covid-19@rmacanada.com

MBE Insurance is offering you the best life or business insurance deals with affordable premiums. It is of the utmost importance to have the proper coverage during these unpredictable times due to the ‘COVID-19’ pandemic. To cover your business from bankruptcy or to have life insurance due to the recent pandemic, please Contact, Mr. Syed Hassan: 647-832-7265 & Mr. Kashif Jamal: 416-575-0873, Email: covid-19@rmacanada.com

Click here to view all the benefits.

Click here to become our member.

To learn more about our other memberships, Click here!