Price gouging: Shortages real or are some fabricated?

[hobbyguy]

HG said:

The topic of inflation will, obviously, be subject to political spin from all directions. The cost of living and inflation are currently the number one top of mind issue with voters. In a recent Alberta poll, 72% had inflation/cost of living as a top issue, followed by health care at 56%. Other issues were way down the list in importance. Things like stopping future mask mandates (8%) and protecting gun rights (6%) have fallen away to mere distractions at this time. https://abacusdata.ca/alberta-politics- ... mber-2022/

I can hardly believe this is hot- off-the - press straight from Niberal headquarters!

Wasn’t it just yesterday that the number one concern, as sold to us by the govt, that the number one concern all across Canada was climate change and therefore it was only fitting that they spend billions on fighting Mother Earth? No one in Nib camp gave a damn about adding to the national debt, just spend, spend and spend some more.

From your list it looks like that fiasco has worn out its welcome as Cdns now desperately trying to make ends meet.

As I said in my previous post, it is not the Niberal way to look for blame in their own ranks.

See: political partisan nonsense spewing out. All I did was point out how a recent poll in Alberta looked.

Interesting in an article about natural gas prices from another country is the question of "free markets" or "freedom to profiteer"?

As the writer points out, economics textbooks will define "free markets" as "many buyers and many sellers".

Things have evolved so that we no longer have "free markets" in many key areas that are driving inflation. Gasoline. Natural gas. Cellphone bills. Agricultural commodities. In many of these areas there are no longer "many sellers", and where there are multiple vendors the tendency is to form cartels - OPEC being an obvious example.

The conclusion I reach is that our so called "free market" system is broken, as the uber wealthy have gamed it.

No wonder country after country are going after the profiteers and doing things like capping natural gas prices.....or applying big "windfall" taxes.

General Mills just reported - with profits way up, and operating profits up 85%! Nah, no gouging there eh?

[Catsumi]

Consistently use others posts as a springboard for another liberal-type tale rather than what was pointed out, HG. Completely went over your head on purpose, I think.

[nepal]

Another example of consumers having to support record profits, even while consumers are being subsidized by gov to lessen retail price rises! This is another example of activities fuelling inflation.
Meanwhile France is nationalizing their power grid, and UK has privatized everything.

[nepal]

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Higher interest rates in Canada (and other countries too) are necessitated to combat rapidly rising prices. I’m all for companies making a profit, but excessive profits made by monopolies leads to hardships for many.

[nepal]

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Price gouging continues. And it’s not just groceries. Our dollar continues to dilute into worthless currency.
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https://stocks.apple.com/ABqZ5KUUpSM23FbrLS9qwEg

[nepal]

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Perhaps some Canadians are in a similar situation (living beyond our means): “People need to accept they are poorer, says Bank of England
Unwillingness to recognise Britain’s decline is fuelling inflation, says Huw Pill“ Telegraph News

[Spiff]

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Perhaps some Canadians are in a similar situation (living beyond our means): “People need to accept they are poorer, says Bank of England
Unwillingness to recognise Britain’s decline is fuelling inflation, says Huw Pill“ Telegraph News

BOE Economist Says Britons 'Need to Accept' They're Worse Off

https://financialpost.com/pmn/business- ... -worse-off

<snip>

His comments along with a speech by BOE Deputy Governor Ben Broadbent earlier on Tuesday are the final scheduled appearances from Monetary Policy Committee the next rates decision. The nine-member panel is weighing weather to push through a 12th consecutive rate hike after raising borrowing costs from less than 1% to 4.25% in the past 1 1/2 years.

<snip>

Comparatively here's how interest rates seem to have proceeded for Canada.

Bank of Canada

Policy interest rate

https://www.bankofcanada.ca/core-functi ... rest-rate/

<snip>

Date* Target (%) Change (%)
April 12, 2023 4.50 ---
March 8, 2023 4.50 ---
January 25, 2023 4.50 +0.25
December 7, 2022 4.25 +0.50
October 26, 2022 3.75 +0.50
September 7, 2022 3.25 +0.75
July 13, 2022 2.50 +1.00
June 1, 2022 1.50 +0.50
April 13, 2022 1.00 +0.50
March 2, 2022 0.50 +0.25
January 26, 2022 0.25 ---

<snip>

So I wonder if it could end up going this way for us.

[mikest2]

Found white onions at 2.49 lb CAD at Superstore and Safeway, checked Albertson's an Fred Meyer just across the line at 0.79 lb USD
That's a bit much of a gap

[hobbyguy]

https://tradingeconomics.com/canada/corporate-profits

The total amount of profits taken out of the Canadian economy by corporations since 2017 has roughly doubled. $400 billion extra (a 40% increase) per year out of your pocket since the end of the pandemic alone.

Greed. One of the seven deadly sins.

[Gone_Fishin]

https://tradingeconomics.com/canada/corporate-profits

The total amount of profits taken out of the Canadian economy by corporations since 2017 has roughly doubled. $400 billion extra (a 40% increase) per year out of your pocket since the end of the pandemic alone.

Greed. One of the seven deadly sins.

Thanks to the greedy corporatist in charge of it all, Justin Trudeau.

Mr Poilievre explained how Trudeau's inflationary policies would line the pockets of these greedy, wealthy corporatists, but you defended Justin.

And now you post exactly what Mr Poilievre told us was happening. Bet you didn't consider that before your rant, eh?

[nepal]

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So sad to see more good jobs now primed to move from Canada, to lower-cost countries.
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[Gone_Fishin]

Unifor, like all unions, were so short-sighted in this hostage-taking.

Ford will be shuttering Canadian plants and throwing low-skilled workers onto the streets. They won't be finding another $75,000 job with big benefits and pensions when their listed skills are limited to "Holds screw gun to fasten door latch."

Watching the union brass blaring on BNN this morning about how "tough" they're going to be with GM and Stellantis now was sickening. These thugs do their members a great disservice.

[nepal]

Unifor, like all unions, were so short-sighted in this hostage-taking.

Ford will be shuttering Canadian plants and throwing low-skilled workers onto the streets. They won't be finding another $75,000 job with big benefits and pensions when their listed skills are limited to "Holds screw gun to fasten door latch."

Watching the union brass blaring on BNN this morning about how "tough" they're going to be with GM and Stellantis now was sickening. These thugs do their members a great disservice.

The rust belt continues to grow. Oshawa is a shadow of its former prosperous years. Also, BC dock workers may have also been shortsighted in their recent high-wage victory, as substantial dockyard automation now possible.

Wage adjustment is necessary to keep pace with inflation, but excess increases are self destructive.
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[Ken7]

My wife mentioned this to me last evening. Last year she went to the case lot sale at Super store. She purchased a case of canned soup, $5.99. This year she went to the sale, and it was $15.00 for the same purchase.

Tell me there isn't a problem!! It's called control, one large conglomerate and they set the going rate. Yet, Trudeau purchases them a bunch of new freezer units, well done JT!!

[GordonH]

My wife mentioned this to me last evening. Last year she went to the case lot sale at Super store. She purchased a case of canned soup, $5.99. This year she went to the sale, and it was $15.00 for the same purchase.

Tell me there isn't a problem!! It's called control, one large conglomerate and they set the going rate. Yet, Trudeau purchases them a bunch of new freezer units, well done JT!!

I wouldn't be surprised if the tins have also became smaller.