Nostr

https://twitter.com/TPostMillennial/status/1702426920602714289?t=SCMnyXGUzJTRe7gGIkvBSA&s=19

Obviously price gouging, especially when it comes to an essential area like food, is a cause for concern. Especially when there isn't a ton of competition between grocery conglomerates.

But to gaslight the public and try to place the blame for rising costs squarely on these companies seems wrong too. Inflation was caused in Canada by government spending and quantitative easing/cheap money printing. Period.

I don't have a quick answer how to stop price gouging but this isn't it. Threatening taxes and price controls. Nooo!

This us a result of such an artifical system like fiat.

The whole system needs to blow up but instead the federal governments just want more control and more taxes to keep the entire charade going.

So dystopian. 😧🤯😖

Jed 2y ago

Everyone that talks about grocery price gouging needs to thresh some grain, or butcher an animal. I would not plant, fertilize, harvest, wash, sort, grind, package, ship, warehouse, market, and sell a bag of flour for $6. Yet, there it is on the shelf.

I don’t know about Canada, but here in the US we have food subsidies. Just one example, but they want poor kids to have access to enough nutrition especially calcium; it’s a good thing with bad unintended consequences. The government pays down a couple dollars on each gallon of milk, but only for mega corporations. So you go buy a gallon of beautiful raw milk from your neighbor, it’s $9. You go to the store, the watered down 2% crap with a bunch of pesticides mixed in is $4. They’re both just a gallon of milk. People think the raw bespoke milk is more because it’s designer. They’re right about half of it. The $9 one is raised with love, raised sustainably and cheaply, and doesn’t travel more than a mile before it’s in your fridge. The real difference? The other gets a $5 subsidy from the fed.

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Discussion

nobody 2y ago

Good points. In Canada a major grocer conglomerate just posted record profits. ~50% YOY profit increase. It's obviously a tough statistic to hear.

Jed 2y ago

Ya that’s crazy! I think here in the US, the profit margin is not really that great. I’ve heard checkers and baggers complain when the grocery store had a 100,000 day. I know what it’s like to run a business. Clerks don’t understand net vs gross.

I’ve looked in the dumpster out back at all the food they have to throw away, I’ve paid a commercial light bill on a waaaay smaller building before, I’ve watched people steal stuff from there, I’ve counted the employees that work there and multiplied by minimum wage. A 100,000 gross day is nothing to brag about because they are not NETTING much.

I can see prices going up by 50%, that’s kinda just consumer price index. Certainly not +50% profit though! Not in this economy..