Enquiry into Supermarkets price gouging.

Woolworths CEO was being interviewed by journalist on Monday and got up and walked off to get advice from his minder.
The questions were too hard hitting for him to be truthful.
Guess what? Today he resigned.
One would posit to say that the large majority of Corporations/Businesses are using corrupt practices and the ACCC(Australian Competition and Consumer Commission) are to all intents and purposes ineffective.
Being a reactive body instead of a proactive body.

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Abstraction · 61-69, M

It was clear he was gone - his whole career gone in one moment of reaction.

Capitalism is failing the nation of Australia. The top end of town have abandoned any semblance of restraint about it. They are pigs at the trough.

In my economics studies I began to see the answer is a balance between the Market, the Government and Civil Society. This is far more than -isms (socialism, capitalism, communism, etc). If any of these dominate too much it creates an imbalance.

In Australia the Market owns the government (both parties) and civil society has almost zero power.

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Gusman · 61-69, M

@Abstraction For a cross bench to happen the public need to stop voting for the major parties.
This will never happen, well, maybe it will. As long as the coming generations understand the the status quo is unacceptable.
Start voting independent, en-masse.
Throw the incumbents out.

DeWayfarer · 61-69, M

@Abstraction the greek philosophers where partially right. Democracy is dependent on the values of the majority.

Just their methods were wrong. All three being atheists didn't make it any more Palatable.

Abstraction · 61-69, M

@Gusman Analysis of the last election showed VERY significant upturn in vote from 18-21 for greens and cross-bench. Next election could tip it. Hence Labor trying to introduce this legislation.
https://www.cis.org.au/publication/generation-left-young-voters-are-deserting-the-right/ [i]" Among Millennials, the Coalition polled fewer primary votes than the Australian Greens; a political party generally thought of as a minor party. The Coalition primary vote was, at 23.1 per cent, not greatly different among Gen Z with a third of this youngest generation voting for the Australian Greens."[/i]

4meAndyou · F

In the United States, Biden is blaming the GREED of supermarket chain owners for high food prices. Clueless as always...and has to blame someone else every time for HIS toxic policies which CAUSED the high prices.

He shut down the oil pipelines all over the United States his first day in office, sold our strategic oil reserve to China, and then attacked the trucking industry with new electric vehicle requirements.

Basically he made it so expensive for our truckers to move goods that they had to begin charging their customers more.

FARMERS in the USA were hit at the same time with a fertilizer shortage, because China began to hold back fertilizers. Farmers found it much more costly to grow produce and to feed their animals. Many farmers had to kill off their cattle because they couldn't afford to feed them.

California, one of the areas which contains major shipping ports for imports, also decide to Eff everyone in the United States by super regulating independent truckers making it impossible for them to load goods at the ports.

Now, food is so expensive that the elderly, and the average family of four, are struggling to put food on the table.

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Gusman · 61-69, M

@jshm2 I think people did know about the gouging. Since covid, the price rises are occurring far more frequently.
And not by 5 or 10 cents. I regularly see products I buy rise $2 or more. 40% or more.
Across the board, that is a huge impost.
Woolworths [b]profit[/b] for the previous 6 months? $920 million.
This is after all outgoings are met. 6 months profit.

Amyrakunejo · F

Monopolism at its' best.

RedBaron · M

I thought Woolworth went out of business years ago.

Gusman · 61-69, M

@RedBaron Australian Woolworths is predominately a grocery supermarket.
Never affiliated with the US brand

LordShadowfire · M

Ladies and gentlemen, I give you the end stages of capitalism.

Gusman · 61-69, M

@LordShadowfire It might be the beginning of the end, I fear the end is still decades away.

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