Capitalism, neoliberalism, neocolonialism

[pipbarber]

https://www.theguardian.com/business/gr ... ing-policy

A good article by Greg Jericho, with graphs.

The richest 10% get 82% of the total benefits of the capital gains discount. Treasury estimates that in 2023-24 that would be about $15.6bn of $19.05bn.

Negative gearing and other policies, like capital gains discounts, overwhelmingly benefit the wealthiest 10%. And yet Labor claims there is no desire among its surveyed group to change the policy. Either the surveyed group were carefully chosen or, and actually this is more likely, people resist change to policies that benefit the wealthy because they aspire to be wealthy themselves and are sure that it will happen soon, or at least eventually, and they don't want to kill the gravy train in order to maintain a fantasy of being on it. It's a bit like tattslotto in that way.

[pipbarber]

I just heard on the radio an executive from Coles vehemently denying the accusation of price gouging. 'We would never do that...' she said dismissively. But if i was a share holder i'd ask her 'why the fuck not?' The only reason coles and woolworths exist is to profit for the shareholders! Literally everyone who has any understanding of capitalism gets that, right? So why not just say, we're a capitalist corporation and our goal is to maximise profits.

But of course they can't say that, but why not? It's so strange. Everyone with power, politicians, media, the wealthy, all defend capitalism but never mention the word. Then they have parliamentary inquiries into it when it operates exactly how it's meant to operate, but still no one uses the c word.

Oh well, capitalism works in mysterious ways. It's not our job to question the ways of capitalism, one simply must have faith. Sounds familiar, but that's where we're at, in my opinion....and never say capitalismjehova!

[Irrev-Black]

I just heard on the radio an executive from Coles vehemently denying the accusation of price gouging.
(SNIP)

They're a bunch of lying arseColes!

https://www.abc.net.au/news/2024-02-19/ ... /103469300

[joele]

They're a bunch of lying arseColes!

They sure are.

Just watched 4 corners, was an interesting episode, worth watching I think.

[Irrev-Black]

WWorths head resigns, but monster keeps feeding.

https://www.thenewdaily.com.au/finance/ ... -step-down

[Irrev-Black]

WWorths head resigns, but monster keeps feeding.

https://www.thenewdaily.com.au/finance/ ... -step-down

Crikey article (not paywalled).

https://www.crikey.com.au/2024/02/21/br ... he-record/

[stylofone]

WWorths head resigns, but monster keeps feeding.

https://www.thenewdaily.com.au/finance/ ... -step-down

Capitalists at that level are monsters. He only let the mask slip for a moment there, but you can tell he hates the media, thinks he's above criticism, has contempt for his customers and any politician not under his control, thinks he can dictate to others outside the company what they can say and do. Only profit is good.

[joele]

Capitalists at that level are monsters. He only let the mask slip for a moment there, but you can tell he hates the media, thinks he's above criticism, has contempt for his customers and any politician not under his control, thinks he can dictate to others outside the company what they can say and do. Only profit is good.

Hard work if you are surrounded by sycophants most days and then you have to talk to this nasty 4 corners guy who actually calls you out on your bullshit.

The Coles CEO wasn't much better on 4 corners, at one point (while being called out for price fixing) she just kind of stared at him, felt like a Tony Abbot moment.

[pipbarber]

I have a degree of sympathy for them. They're doing exactly what they're meant to be doing, maximising profits. In their minds, and the minds of the major shareholders no doubt, they've done an outstanding job. This is the system, this is how it is designed to work and Colesworth are being made scapegoats for doing it well! The world's gone mad, i tell ya!!! If we were more libertarian, these colesworth execs would get an award, OBE or something.

This is the system. It's the same system that enables Rhineheartless and Forester to double their wealth every few years. How many games of monopoly have to be played before we realise what a fucking stupid game it is?

I'm probably being a bit reductionist. I mean we have anti-monopoly laws and anti-price manipulation laws etc but they obviously only start working when people become outraged. Colesworth has been making hundreds of millions, billions, in profit every year for decades, they just went a bit far. That was dumb. They should have attempted to strike a better balance between profit and public opinion but what sort of system is it that basically allows duopolies and cartels to determine how far they can exploit everyone and still get away with it?

Can we talk about petrol prices next?

[wolty]

I've taken to calling people on Sky News Facebook page communists when they ask for more regulation for the supermarket sector.....