The National Telegraph - Wyatt Claypool - May 18, 2024


Jagmeet Singh doing damage control for his lobbying corruption


Episode Stats


Length

8 minutes

Words per minute

188.04599

Word count

1,679

Sentence count

105

Harmful content

Misogyny

2

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In the wake of the revelation that Jagmeet Singh's brother was involved in lobbying for Loblaws, the federal NDP leader has decided to go all in on the Loblaws boycott in order to make a virtue signal in support of organic grocery stores.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
00:00:00.000 You can tell how damaging a scandal is to a politician by how they react right in the aftermath of it breaking,
00:00:06.860 and federal NDP leader Jagmeet Singh is definitely reacting in the aftermath of it being exposed
00:00:13.300 that he's probably only attacking Loblaws as like the main dragon of the grocery cartel
00:00:18.840 because his brother owns a lobby firm which is involved with Metro grocery stores,
00:00:25.080 and despite the fact that Metro has a higher net profit margin than Loblaws,
00:00:29.180 because Jagmeet Singh completely ignores Metro and even supports things like the Loblaws boycott.
00:00:35.900 Absolutely silly, ridiculous, and deeply corrupt.
00:00:39.360 And in the aftermath of this, Jagmeet Singh is going to pretend that he doesn't know how supply and demand works
00:00:44.740 and virtue signal in favor of organic grocery stores.
00:00:48.900 So he just posted this on X a little bit ago, and I want to break it down here because I find it endlessly silly.
00:00:54.360 He says supporting Canadian local grocery stores and small business is one of the strongest ways to take on corporate greed
00:01:01.480 and the corporate grocery cartel.
00:01:03.980 On May 12th, like many Canadians, I supported a local grocer, and he's saying this because the Loblaws boycott was going on.
00:01:10.660 Raise the Root is an incredible woman-owned market in Toronto. 1.00
00:01:13.940 Thank you for having us.
00:01:15.900 And then, you know, here's him hanging out with them in the small grocery store, and this is all very hypocritical.
00:01:20.360 When you think of two different things, one, he's only doing this simply because it was coming out that his brother was involved in lobbying for Metro.
00:01:30.840 And also, doesn't Jagmeet Singh dislike excessive profits?
00:01:35.360 That if you profit too much, if your net profits at the end of the day are too high, he will come after you with pitchforks and daggers.
00:01:41.980 Because supposedly, Loblaws making 3.7 or 3.4% net profit is excessive, and that they need to have even harder government regulations and wage controls and price controls implemented onto them
00:01:56.860 in order to stop these demons out of the pits from being able to make a couple cents on a turnip. 1.00
00:02:03.960 Whatever.
00:02:04.880 But why isn't he mad at the small local grocery store for their margins?
00:02:09.220 Do we really think that this small grocery store is working on 4% net profit margins?
00:02:15.860 And it's not bad if they are working at higher ones.
00:02:18.500 Usually, local stores make far more money per unit that they sell because they tend to be in a neighborhood.
00:02:25.200 They're closer to where people live.
00:02:27.020 The rent cost per square foot of the store costs more.
00:02:30.760 So if they're selling things like organic vegetables, naturally, they're going to be pricier.
00:02:35.780 Simply because they are not able to engage in the economies of scale that Safeway, Loblaws, or Costco can do.
00:02:44.200 Different stores fill different niches.
00:02:46.080 I'm perfectly fine with that.
00:02:47.360 I don't have a problem with them making whatever amount of money they want to make.
00:02:51.080 They're allowed to do it.
00:02:52.220 If a customer buys a product from you and they're not being compelled to do it, that is a fair free market transaction.
00:02:58.520 And the idea and arrogance of Jagmeet Singh coming in and saying what you're allowed to accept for different products and what you're allowed to expend on labor costs and what wages you're allowed to be hired at and how much the consumer...
00:03:11.900 It's not like...
00:03:14.100 I was going to say puritanical stuff.
00:03:15.340 I meant...
00:03:16.180 Why am I forgetting that word?
00:03:18.200 It doesn't matter.
00:03:18.980 But it's incredibly infantilizing to pretend that the market can't get along without some sort of washed up socialist like Jagmeet Singh telling it how it's supposed to function.
00:03:30.040 I want to pull this up here in just a second.
00:03:32.980 I think like...
00:03:33.500 Actually, yeah.
00:03:34.000 Here it is.
00:03:34.720 Because he took some photos of their produce.
00:03:37.000 I think he thought it was like a good looking shot.
00:03:39.100 But you can even tell right here, these are some pricey foods.
00:03:43.300 This is not the Loblaws type situation where you're paying like a couple cents per tomato you're buying.
00:03:49.840 For these tomatoes, which it looks like there's 1, 2, 3, 4, 5, 6, 7, 8.
00:03:53.580 Let's see when there's 8.
00:03:54.800 You're paying $5.99 for these packages of tomatoes.
00:03:59.900 For these oranges down here, $2.99 for a pound, $6.58 for a kilogram.
00:04:05.620 That is pretty expensive.
00:04:06.860 I guarantee you if you go to another store, it will be less.
00:04:10.900 Yes, it's organic.
00:04:12.620 One, you can make an entire video on how the organic industry is kind of fake.
00:04:16.940 I used to work at a wine store.
00:04:18.280 And I can tell you organic wine is mostly a scam.
00:04:21.800 Not totally.
00:04:23.180 But really, do you have enough money to be able to pay for getting the regulators to mark you as organic?
00:04:28.720 That's what it comes down to.
00:04:29.940 Do you have the right fence posts?
00:04:31.040 You could have a coal power plant on your property, just putting out massive clouds of smoke like you're running a Victorian coal power plant or factory.
00:04:42.540 And you could still be certified as organic as long as you have very oddly specific things being done to an organic grade.
00:04:49.660 But this is not a cheap store.
00:04:52.240 Good for them if they're successful.
00:04:53.940 Fair enough.
00:04:54.560 They are succeeding in the market.
00:04:56.220 But Jagmeet Singh cannot go to Loblaws and say, I can't believe that you're charging a dollar per whatever.
00:05:02.560 When another store, I guarantee if you bought an apple from that store, it's not going to be 75 cents.
00:05:07.200 It's going to cost a lot more.
00:05:09.200 But Jagmeet Singh is really just anti-corporate.
00:05:12.020 So he wants the government to get involved to break up corporations or run the corporations for them through excessive regulations.
00:05:19.520 But he has this weird aesthetic liking for the small local person getting it done.
00:05:25.140 It's like he's a communist from the Soviet Union who is in favor of the new economic policy that Lenin put forward that allowed for some small business capitalism.
00:05:34.480 So he only likes it when it's aesthetically pleasing that, oh, it feels like this shop is a real local destination and hub for the community.
00:05:43.100 But if that store opens up another one across town somewhere and they maybe open up a larger store, then he's going to demonize them.
00:05:52.120 These people actually have to say what the line is before they will start being critical.
00:05:57.240 Is it the profit margins?
00:05:58.500 Apparently not.
00:05:59.260 Is it the amount of success the chain has had?
00:06:01.940 Well, it depends because he doesn't go after some chains like Metro.
00:06:06.040 If he can't be consistent with what he considers excessive profiteering and what he considers a cartel or a monopoly, then I don't care about his opinion.
00:06:15.700 And neither do most Canadians, especially in the light of the fact that he's basically doing a lot of his anti-grocery cartel crusading on behalf of his brother, Guritan Singh, who helps co-run a lobby firm who works for Metro.
00:06:29.960 So Metro being, look at this chart, is the grocery store that makes the high net profit margins 4.02% and Loblaws at 3.4.
00:06:39.340 Yet Loblaws gets all of the heat from Jagmeet Singh.
00:06:42.120 And guess what?
00:06:42.900 Guess what on this?
00:06:43.760 Which grocery stores on this chart have excessive profits?
00:06:46.660 None of them do.
00:06:47.660 Not a single one.
00:06:48.760 They're allowed to make the money that they make.
00:06:50.860 It might be that Metro is just better run and that's why they make more money and they deserve it.
00:06:54.820 But from Jagmeet Singh's point of view, he never looks at that.
00:06:57.840 He'll say, oh, did you know that Sobeys made 25% more profit in this quarter?
00:07:02.880 And then he never looks into the fact that, yes, because they sold a gas station and they had a one-time benefit of profit from that sale.
00:07:10.840 But they no longer make any more money from the gas stations operating because they don't own them anymore.
00:07:16.120 He doesn't actually care.
00:07:17.260 He is just looking for socialist, populist-type voters to come flocking to him because he's taken on Galen Weston and the rich, overpaid CEOs.
00:07:26.800 Even though Jagmeet Singh is easily the biggest wealth projector on the planet, or at least in Canada, the man loves to show that he has wealth because he is deeply tied into this kind of hype man culture where if you're not wearing a gold Rolex, he doesn't want someone from his own community making fun of him that he seems like just some poor, stodgy politician.
00:07:46.520 He is obsessed with coming off as a wealthy, slick man.
00:07:50.780 At the same time, he's going after Galen Weston, who just dresses up like a normal businessman and actually employs people and operates his business successfully.
00:07:58.740 But that's like a sin in Jagmeet Singh's world.
00:08:02.420 Sorry that this turned into a bit of a rant, but that will be it for me, guys, today.
00:08:06.840 I have my give-send go for the legal fund in the description of this video.
00:08:10.920 If you guys want to contribute and help us fight back against this lawsuit from a billionaire developer trying to sue us for a fake claim of defamation, that would really help us out.
00:08:19.540 We've already paid $29,000 into defending ourselves.
00:08:22.520 And then you can also join the National Telegraph, the TNT Telegram channel in the description below.
00:08:28.120 There's a link for it there, and I actually will remember to do it this time.
00:08:31.380 Someone mentioned a couple of videos back.
00:08:33.280 I said it.
00:08:33.780 I really emphasized it, and then I didn't even put the link in.
00:08:36.120 And then also, if you happen to live in the riding of Calgary Signal Hill, I'm Wyatt Claypool, and I'm running to be your next Conservative Party nominee.
00:08:43.260 So make sure if you have a Conservative Party membership, the deadline to buy memberships has already passed.
00:08:47.660 But if you live in that riding and you're a Conservative, mark me number one on your ballot so we actually have real Conservatives representing strong Conservative ridings.
00:08:54.940 Have a great one, everyone.