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
I posted this here on May 7 and thought it was done "Went to public library to do my census and consistent with the luck I have got the long form. About 70 WOKE questions and questions that are none of their business IMHO as they don't care about real Canadians. I just filled out the number of residents as it is starred and then just kept hitting next until the end. Had a 15 minute timer and it took me 15 minutes. Could leave comments but by then out of time and patience. 🤮"
Imagine my surprise when a census worker showed up at my door yesterday because I hadn't done. She knew I had the long form and had it with her for us to complete and I told her when and where I filled out, even approximate time of day, and she asked for confirmation code so went to work trying to find. When you are rushed naturally can't find so said that I couldn't find. Found as soon as she got back to her car and showed her before she drove off. I can't hate this country enough as I know that because I only ...
