
“Dispel fear and walk by faith, keeping a sound mind from a position of strength.”
Canadians are entering a bleak year for 2024 and we need to be prepared for what is on the horizon, especially concerning our health. The average person knows we are in a recession even though the economists will not agree. April 1, 2024 both MP’s salaries will rise 2.1% and carbon tax will rise from $65 to $80 per tonne of carbon dioxide equivalent (CO2e), like rubbing salt into the wounds.
The same scenario is being played out both in Canada and the U.S.A.: inflation. One of the main contributing factors in Canada is paying carbon tax with GST on most things. So many things are in play and people are unaware since they are focusing on the distractions, U.S. elections, wanting an election in Canada, men in women’s sports, and multiple elections across the world. The biggest distraction is getting people to believe that climate change is humanity’s fault and penalizing people with taxes in such a way that the Sun’s solar cycle and Earth’s weakening magnetic shield will magically be repaired with the taxed money that most people need to spend on necessities such as gasoline, heat, electricity and groceries. In times like this, when the world seems normal on the fringes it may be falling apart, we need preparations in order to stay abreast and not sink under eroding promises.
In 2023, the Canadian economy did better than many analysts had predicted, achieving 1.1% growth despite challenges such as high inflation and increasing interest rates. This growth was primarily fueled by strong population growth that spurred demand and sustained the labor market, leading to the creation of jobs. However, the economy experienced uneven growth across sectors, with interest rate-sensitive areas like housing slowing down significantly, which along with a global economic slowdown, affected business investment and exports.
Looking into 2024, the Canadian economy faces several challenges and uncertainties, including high interest rates, inflationary pressures, and geopolitical risks that could potentially push the economy into a recession. Despite expectations of inflation settling around 2-3%, costs in areas such as food and housing continue to rise, with food price inflation anticipated to remain around 4-5%.
Three main risks to the economy include geopolitical conflict potentially reigniting inflation, persistent inflation driven by strong demand, and the vulnerability of Canadian households to current high interest rates due to high debt levels and the recent explosive growth in housing prices.[1]
Global uncertainty, currently, there seems to be a cooling in the Red Sea shipping crisis but this could change overnight if war intensities. “Attacks against shipping in the Red Sea by Houthis are devastating for global trade and supply chains, already reeling under the impacts of the war in Ukraine and climate change-linked conditions in the Panama Canal, said the UN trade and development body, UNCTAD, on Thursday. (…) Container ship transits are down 67 per cent compared to a year ago. The largest impact is on liquefied natural gas (LNG) carriers, which have stopped altogether since 16 January, according to UNCTAD.”[2]
If the war in Israel intensifies, which it looks like it will, Suez Canal is not the only ‘choke point’ that threatens to disrupt global supply chains. “Countries involved in the White House’s announcement regarding the strikes on Yemen include major exporters such as Germany and South Korea, Denmark, the home of affected shipping line Maersk and others, as well as countries such as Australia and Canada. This is an indication of the profound global effects this disruption is having.”[3]
The recent attacks, aimed at disrupting Israel’s offensive against Hamas in Gaza, have compounded the challenges facing global trade, already strained by the COVID-19 pandemic and the impacts of Russia’s invasion of Ukraine. These attacks are forcing shipping routes to divert from the critical Suez Canal to the longer passage around Africa, exacerbating delays and increasing transportation costs. This situation has had tangible effects on industries and commerce across the globe, including the idling of car factories, delays in the fashion industry, and uncertainties for some that manufacture hospital supplies, as it faces unpredictable delivery schedules for parts from Asia.
The global shipping industry is also grappling with additional hurdles, such as restricted passage through the Panama Canal as the ongoing drought is drying up this world’s key shipping channel. These factors together are creating a perfect storm of logistical challenges, driving up costs and contributing to a resurgence of inflation. The ongoing conflict and the resultant trade disruptions in the Red Sea have the potential to significantly affect global inflation rates, with estimates suggesting a year-long disruption could increase goods inflation by up to 2%. This scenario threatens to intensify the economic pain felt worldwide, possibly leading to even higher interest rates and further economic slowdown, as companies and consumers alike struggle to navigate these compounded supply chain issues.
Some of it we have already started to notice. “According to Bloomberg, the cost of living has surged in various aspects, with groceries marking a 25% increase, used cars seeing a staggering 35% climb, and rents escalating by approximately 20%. While daily routines may have returned to a semblance of pre-pandemic normalcy, the financial burden on Americans is far from abating.”[4] The tendency has not stopped though; costs will definitely climb even higher this year. “According to economist Mark Zandi, the average U.S. household is now shelling out an additional $1,019 a month just to purchase the exact same goods and services that it did three years ago…”[5] but it is not just the U.S. According to experts, Canadians will also pay more in 2024, especially for food and real estate.
A recent survey[6] conducted by Dalhousie University’s Agri-Food Analytics Lab and Caddle reveals a significant shift in Canadian grocery shopping habits, with nearly two-thirds of Canadians changing their primary grocery store in the past year to find better deals. The study highlights the critical role of discounts and promotions in consumer choices, with 30% of respondents selecting grocery stores based solely on these factors. Almost 60% of shoppers look for discounted food items, especially those nearing expiration or on clearance. Loblaw-owned stores, Walmart, and Costco are top destinations for discounted groceries, with fresh produce and meat being the most purchased discounted items. Additionally, the report points to the growing popularity and potential of food-rescue apps like Flashfood and Too Good To Go, although they are still underutilized by the majority of Canadians. Despite this, a high recommendation rate among users suggests a promising avenue for technology-driven savings in grocery shopping.
Moreover, according to Statistics Canada[7], Canada has the highest ratio of household debt to disposable income among G7 countries, with a staggering 185 percent. The rise in consumer spending, particularly on housing, has contributed to this heavy debt burden. The report highlights a growing disparity in wealth, especially with middle and lower-income households facing increased financial strain due to rising housing and food costs. Mortgages, which represent a significant portion of household debt, are increasingly stretching beyond 30 years, exacerbating the financial pressure on homeowners. This situation is particularly acute for younger homeowners under 45 and poses concerns for future economic growth and intergenerational mobility, given the importance of homeownership for wealth creation and financial security.
You may be thinking: what does this have to do with health? The answer is: everything! To take it all in is overwhelming, this is why we must utilize preventive measures to use this window of opportunity to be better prepared to the best of our abilities.
At Life Choice, we have anticipated this scenario for several years, we are now placing several standing orders for our packaging, USP grade raw materials, our New Zealand sourced glands and medicinal grade DMSO one year in advance due to global demand, yet this is still not a guarantee, we are hedging our bets.
What can be done? With the rising food prices, the best security is to start buying heirloom seeds and planting a garden. If space is limited, herbs and sprouts do not take much room. Community gardens with those who are likeminded, if alone, on your balcony. Easy food to grow in your own backyard are the following; potatoes can be stored for up to six months, once harvested potatoes need to stored properly — not refrigerated, loosely (not in plastic) in a dark, dry spot between 10 to 15 degrees C. Green bean are another excellent choice, they can be canned or blanched then frozen. Also plant beets, carrots, onions and squash, these crops can be canned together as a soup. Again, be sure to purchase organic heirloom seeds that are GMO free and harvesting and drying the seeds to be replanted for the next season. It is also suggested to have dry foods, extra water on hand and water treatment tablets.
Life Choice Health Kits can help you get ready—these are supplements grouped together for health condition. Begin with kits for your daily needs of vitamins and minerals, for maintaining your immunity, pain relief kit for injuries, burns and pain control; keep in mind that each pack is for two months for one person.
We are sharing this information as our way to help you be prepared, prevention, when situations arise from what is deemed normal. Dispel fear and walk by faith, keeping a sound mind and from a position of strength. Live in the moment for a brighter tomorrow but always leave room for the unexpected.
Additional Reading:
- Dahl, Eldon. 2023. Peace on Earth: Inner Peace is the Integral Component
- Dahl, Eldon. 2023. Quality Always Matters
- Dahl, Eldon. 2023. Consider Yourselves Blessed and Rejoice If You and Your Family Are Healthy, You Are in the Minority
- Dahl, Eldon. 2022. The World As it Could Be Standing United and Lead By Conviction
- Dahl, Eldon. 2021. Are You Prepared For What Might Be Coming?
- Dahl, Eldon. 2021. The Joy of Living Sure Beats the Fear of Dying
References:
- 2024. Canadian economic outlook for 2024: Shifting into neutral. https://www.bdc.ca/en/articles-tools/blog/canadian-economic-outlook-for-2024-shifting-into-neutral
- Charlebois, Sylvain et al. 2024. Canada’s Food Price Report 2024. https://cdn.dal.ca/content/dam/dalhousie/pdf/sites/agri-food/EN_CANADA’S%20FOOD%20PRICE%20REPORT%202024.pdf
- 2023. Living the dream: Groceries up 25%, used cars 35%, rents 20%. Financial stress is the new normal. Rice, the latest luxury item at a 15-year high. Cheers to the good life! https://citizenwatchreport.com/living-the-dream-groceries-up-25-used-cars-35-rents-20-financial-stress-is-the-new-normal-rice-the-latest-luxury-item-at-a-15-year-high-cheers-to-the-good-life/#google_vignette
- 2024. The Average U.S. Household Is Spending $1,019 More A Month Just To Buy The Same Goods And Services It Did 3 Years Ago. https://citizenwatchreport.com/the-average-u-s-household-is-spending-1019-more-a-month-just-to-buy-the-same-goods-and-services-it-did-3-years-ago/#google_vignette
- Schiffling, Sarah – Tickle, Matthew. 2024. Red Sea crisis: Suez Canal is not the only ‘choke point’ that threatens to disrupt global supply chains. https://theconversation.com/red-sea-crisis-suez-canal-is-not-the-only-choke-point-that-threatens-to-disrupt-global-supply-chains-221144
- Statistics Canada. 2024. Research to Insights: Disparities in Wealth and Debt Among Canadian Households. https://www150.statcan.gc.ca/n1/en/pub/11-631-x/11-631-x2024002-eng.pdf?st=fFQrMkz1
- United Nations. 2024. The Red Sea shipping crisis is having a ‘dramatic’ impact, warns logistics chief. https://news.un.org/en/story/2024/01/1145902
[1] BDC. 2023.
[2] United Nations. 2024.
[3] Schiffling, Sarah – Tickle, Matthew. 2024.
[4] CWR. 2023.
[5] CWR. 2024.
[6] Charlebois, Sylvain et al. 2024.
[7] Statistics Canada. 2024.
