‘The two main problems seem to be inflation and interest rates,’ writes Ian McMaster of St. John’s. ‘2023 is going to be a tough year.’
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However, fixed incomes are still fixed. Increase in minimum wage is well below the inflation rate. Food banks are bursting at the seams. Homeless people are still homeless. A quarter of the population of this province is without a family physician. Hospital emergency rooms, if they are open, are overcrowded.
Shipping costs, whether by sea, rail, air or road, increase because of increases in hydrocarbon costs. This will encourage reduction in shipping traffic. Intel has said “the U.S. now accounts for just 12 per cent of global capacity, with more than 80 per cent of semiconductor production taking place in Asia.” And, “we are encouraged by the broad desire within the U.S. government to bolster the U.S. semiconductor industry and the thousands of suppliers, tool makers and other companies that support it.”
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