“Their frustration is understandable, but this kind of expectation betrays a misunderstanding of what’s actually driving food prices higher in this country.”
Before the bread price fixing scandal broke, if anyone had asked Galen if they were manipulating the price of bread, he would have shown this same level of deflection and never admitted in a million years what they were doing. If we asked now if there were any other price fixing scandals waiting to be discovered, they’d deny and deflect regardless of the truth.
Now he just wants us to trust him, and take him at his word? This billionaire has given everyone zero reasons to trust him, and many reasons to do the opposite.
It’s also psychotic when you think about it … his family is already worth $8 billion … but they all have a perpetual need to make even more profits regardless if it means starving people have to pay more for the food they sell.
If I had $1,000 and a box of food and someone with little money came up to me wanting to buy some of my food for $1 and I instead told them it was $2 just because I could … everyone would look at me like a stingy heartless prick.
A billionaire does it with millions of people every day and it’s just called business.
My example is an imaginary hypothetical … Loblaws and the Weston family do it in real life … and somehow that is more acceptable than some imaginary story I could come up with.
Absolutely hitting the nail on the head. This is something that isn’t being properly discussed anywhere in society; how many billions does a billionaire need before a billionaire has enough billions?
If enough is never enough, then that’s not sustainable, it’s not healthy for our civilization, and they’re absolutely suffering from a form of mental illness that requires social intervention. If a trillion is the number before they’ll actually be satisfied; then they need to adjust their goals.
Dare I say it: as long as there are camps full of homeless, as long as people working 60+ hours a week and can’t afford both food and a place to live, as long as 50% of the population is one missed paycheck from going broke- there should be no billionaires.
Our economy is dysfunctional and serving the interests of the rich above everyone else. We need an adjustment before the tipping point tips us from untenable into chaos, because these current trends are leading us all into ruin.
“Poverty exists not because we cannot feed the poor, but because we cannot satisfy the rich.”
- an anonymous quote from the internet
And to rub it it poors faces they toss out half the food because at the high prices it did not get sold in time
I’d like to hear him deliver a detailed analysis of how sky rocketing food prices has no bearing on Loblaws record setting corporate profits.
Tbh if he had to try anywhere near that hard to deflect, that would be an improvement in and of itself. As it is, the 2 major parties aren’t gonna do shit about them even if they straight up said they’re trying to maximise profits at the expense of the common Canadian.
Liberals and Cons are just 2 sides of the same shitty coin. Unfortunately a ton of Canadian’s think voting for the NDP is “socialism” and it doesn’t help that Singh doesn’t seem to be particularly popular.
The unfortunate state of Canada really fucking sucks.
What an entitled, lying PoS. We’ve seen his company’s quarterly results. We’re not all as stupid as he thinks we are
Um they literally price fixed bread for how many years
“Their frustration is understandable, but this kind of expectation betrays a misunderstanding of what’s actually driving food prices higher in this country.”
Food prices first soared above headline inflation starting in December 2021, rising as much as 11.4 per cent annually, according to Statistics Canada. February marked the first time since then that the price of food purchased from grocery stores (2.4 per cent increase year-over-year) fell below headline inflation (2.8 per cent.)
LOBLAW 2024 FIRST QUARTER HIGHLIGHTS Revenue was $13,581 million, an increase of $586 million, or 4.5%. Retail segment sales were $13,290 million, an increase of $555 million, or 4.4%.
Absolutely fuck this waste of air.
Net earnings available to common shareholders of the Company were $459 million, an increase of $41 million or 9.8%
I don’t think the person you’re replying to is defending Loblaws, just saying we need to look at the right numbers to correctly call bullshit.
Here,
The company’s quarterly profit was $459 million, marking a 9.8 per cent increase.
Source: https://www.cbc.ca/news/business/loblaw-q1-revenue-boycott-1.7190272
