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Beirut Reels as Israeli Airstrikes Intensify Amid Expanding Regional Conflict

                                     Smoke rises after an Israeli strike in central Beirut's Bachoura neighbourhood Israeli warplanes struck central Beirut in the early hours of March 18, delivering some of the most intense bombardments the city center has seen in decades. The attacks destroyed residential buildings in densely populated neighborhoods such as Bashoura, Zuqaq al-Blat, and Basta, killing at least six to twelve people according to varying Lebanese authority reports.  The strikes come as the broader conflict widens following Hezbollah’s involvement earlier in the month and escalating tit-for-tat actions between Israel and Iran. Residents described fleeing in the middle of the night—some after receiving evacuation warnings, others with no warning at all—as explosions lit up the capital’s skyline.  Lebanese officials say the attacks targeted both residenti...
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The cost of living crisis is not over, despite lower inflation



The cost of living crisis is not over, despite lower inflation

Inflation, the rate at which prices increase, has been slowing down in Canada and other countries. This may seem like good news for consumers who have been struggling with higher costs of food, housing, energy and other essentials. However, lower inflation does not mean lower prices. It means that prices are still rising, but at a slower pace than before.

The cost of living crisis is not over, because many people are still facing difficulties in affording their basic needs. For example, rents in Canada have risen by the fastest rate in over 40 years, according to BMO’s chief economist Douglas Porter. Home prices have also soared by more than 40 per cent since the end of 2019, making homeownership out of reach for many.

Moreover, lower inflation does not guarantee that interest rates will go down. The Bank of Canada has raised its key interest rate six times since July 2021, to curb inflation and cool down the overheated economy. The bank has signalled that it may pause its rate hikes for now, but it has not ruled out further increases in the future.

Interest rates affect the cost of borrowing and saving money. Higher interest rates make it more expensive to take out loans, such as mortgages, car loans and credit cards. They also make it harder to pay off existing debts. On the other hand, higher interest rates benefit savers who earn more interest on their deposits.

The cost of living crisis is not only a matter of numbers. It is also a matter of perception and expectation. Many people feel that their incomes are not keeping up with their expenses, and that their quality of life is deteriorating. They may also worry about the future, especially if they face uncertainty in their jobs, health or family situations.

The cost of living crisis is not a problem that can be solved overnight. It requires long-term solutions that address the root causes of inflation and inequality. It also requires collective action and solidarity among people who share the same challenges and aspirations.

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