clearly, the narrative is “record profits mean gouging!” but this is a ridiculously facile and illiterate claim.
it’s pure playing to the peanut gallery.
inflation drives the nominal value of everything, including profits, higher. if a company once had $100 in revenue and $5 in profits and these numbers grew to $150 and $7 in profits, sure, that’s “record profits” but if inflation was 50% in that period, it was a drop in profits in real terms. it was also a drop in margins. what was a 5% profit margin is now 4.7%. that’s the opposite of gouging, that’s margin contraction and lower real profits. and that is what we are seeing across the US right now. businesses are not gouging, they are taking it in the chin to protect the consumer.
https://boriquagato.substack.com/p/price-gouging-is-a-nonsense-narrative
This is quite a Read.!!
Wow!!!!! she’s pissed!! we all should be..
One really pissed-off CANADIAN citizen!!!
It appears that this Senator hit a sour chord with this young lady!!
Jeff Smith, a Senator from Quebec, calls senior citizens the "Greediest Generation" as he compared , Old Age Security to "a Milk Cow with over a million teats".
Here's a response in a letter from Patty Johnstone in Ontario ..
I think she is a little ticked off! She also tells it like it is!
"Hey Jeff, let's get a few things straight!!
1. As a career politician, you have been on the public dole (tit) for FIFTY YEARS.
2. I have been paying CPP & OAS for 48 YEARS (since I was 15 years old. I am now 63). Being a Canadian citizen for over 20 years & paying my taxes, I am eligible at 65 to apply for Old Age Security - OAS (paid for through my taxes).
3. My Canada Pension payments, and those of millions of other Canadians, were safely tucked away in an interest bearing account for decades until you political pukes decided to raid...
Google paper ignites Bitcoin debate over freezing 4M dormant coins
https://www.perplexity.ai/page/google-paper-ignites-bitcoin-d-EBq8Y4YfRhqrQYMFtg4u1g
