The Bank of Nova Scotia (BNS)

Inflation could be caused by either too much demand, or too little of supply, or both. This time it's both. So the rate hiking will only fix one side this time which is the demand, but it won't solve the inflation as it can't fix the supply issue. We have had the best years in human history with low inflation due to two advantages, one is the low cost manufacturing from China, another is the boom of Oil/Gas production in North America. These two basically decide all the supply. Saddly China is going down with Covid restrictions, and the global warming lie killed North America oil and gas industry. Just check when was the last time we built the last pipeline. I doubt we will ever have another pipeline built anymore in here. Oil and gas is the foundation of economy. No matter what the politicians wanted ideally, the whole human civilization is built on the foundation of oil/gas. Until one day the politicians can face this fact, oil/gas will always be in shortage which means inflation. China isn't going to come back anytime soon, the joy of cheap labbour and cheap goods are behind us likely forever. Unless the North America can drastically increase production efficiency by lower wages, working harder ( much harder), removing unions, etc.., things are going to get expensive, which means inflation. Unless the people here sees the really causes of this inflation, it is painfully here to stay, for years to come.