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NEW - Happy Friday Round Up: Good Politics, Bad Economics
The Canadian grocery rebate hits accounts this week and the gas tax comes off the pump. September is when one of those reverses, and the gap between now and then is exactly the size of a summer road trip.
Good politics and maybe not the best economics can describe the same decision at the same time. A bigger deficit creates greater inflation, and greater inflation keeps mortgage rates where nobody wants them. The short attention span is the strategy. The long-term consequence arrives later regardless.
Meanwhile the Strait of Hormuz opened, oil prices moved, and Canada was in the room when it…
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