Jagmeet Singh is a moron who doesn't even understand economics. He thinks that grocery prices are too high because the Liberals aren't doing enough to lower the prices of food. He also thinks that CEOs are rich because they generate a lot of revenue, but they don't make any money on them.
00:00:00.000I hope you people appreciate what I do for you, because I have to read Jagmeet Singh tweets at times, and it's been taking years off my life having to watch someone who is this economically illiterate try and make a point on a social media platform.
00:00:14.460Man, it's insane just seeing how bad Jagmeet Singh is on economics.
00:00:19.720You'd think he'd know something about it, because I assume he's gone to university and had to take an economics course at some point.
00:00:26.380A lot of degrees, especially if you go into law like he did, usually eventually have a little bit of economics you have to take so you don't go into the world looking like Jagmeet Singh making a fool of himself.
00:00:37.260But I guess it just didn't work for him.
00:00:39.560But Jagmeet Singh is pushing this absurd plan that, well, the liberals aren't doing enough to lower the prices of food.
00:00:48.960I do the liberals plan, but I do the plan more, plus illegal measures.
00:00:53.580Jagmeet Singh just thinks if he keeps saying that CEOs are rich, that somehow Canadians will say, well, maybe we should let this moron, Jagmeet Singh, run the country.
00:01:02.140And he'll then go and keep blaming everything on Loblaws as prices naturally go up.
00:01:06.920But don't worry, he can fix those rising prices, because Jagmeet Singh is deeply against price fixing, until he is actually in favor of price fixing from the government side.
00:01:16.200Anyways, I want to get into a few of these tweets that he put out today, because it's just absurd.
00:01:21.020Or yesterday, sometimes I have to compile some tweets from other days.
00:01:52.260It was just their parent organization, Enterprise Incorporated, who sold off a bunch of gas stations.
00:01:57.400So it made artificially look like they were super profitable that quarter, when they just sold a bunch of capital off.
00:02:03.500So those gas stations no longer generate them any money.
00:02:06.440So obviously, that is a one-time little bit of income.
00:02:10.200Also, Jagmeet Singh, when he's mentioning all this stuff about grocery CEOs, like $3.6 billion among three massive grocery store conglomerates is not that much for a year like 2022.
00:02:22.480Also, Jagmeet Singh is an incredibly dishonest person when it comes to what he considers profit and revenue.
00:02:28.500He constantly mixes the terms together, and he'll say how much they earned, but he'll never actually say how much they paid out in employee salaries, how much did they pay in taxes, how much did they do, and all this other stuff.
00:02:39.020Loblaws and all these other places didn't just make $3.6 billion and give it to Galen Weston, who runs Loblaws.
00:02:44.880That's not what happened, but Jagmeet Singh would like to pretend that that's what happens, because he's a very dishonest person trying to win votes in the typical socialist manner of saying, rich people are screwing you over because you're buying groceries, and that's somehow hurting you.
00:03:00.460Getting the products you need at the lowest possible price is hurting you.
00:03:04.740Again, the prices that Loblaws and other grocery stores are offering their food at is indeed pretty much as low as you could possibly get.
00:03:13.580Go to a convenience store and tell me that Loblaws is ripping you off.
00:03:17.160The smaller the vendor usually dictates the higher the margin they charge on items is going to be.
00:03:26.100Costco and Loblaws and Co-op, they make anywhere from one, sometimes it's even negative because they have items on sale for an incentive to buy, even though they don't make any money on them, but they usually have anywhere from one to at most, at highest, 5% profit margins on their products.
00:03:44.720When I say profit margins, I just mean on the amount of money that they make over what it costs for them to bring in the product.
00:03:53.480That still doesn't account for paying employees, paying for the infrastructure and all that.
00:04:16.200The reason why CEOs are paid so much is because they work like 70 hours a week and the company is only paying them as much as they do because they are going to generate even more revenue and profit for the company, which means that employees can get paid more, which means that the company is healthier, the jobs are more stable, they can open up more locations and hire more people.
00:04:38.220There's nothing wrong with someone being paid what they were offered.
00:04:41.720This is why I don't exactly support minimum wages, because at the end of the day, by supporting a higher minimum wage, you are basically saying, yeah, that thousand people in the city shouldn't be allowed to have a job because we've artificially raised the wage, meaning that those thousand people are going to be fired to offset the raises everyone else is going to get.
00:05:01.400It's an incredibly selfish way of viewing economics.
00:05:04.720Anyways, I just want to move on to the next tweet by him that he directed at Mr.
00:05:08.520Polyev from the Conservative Party said, here, I know you'll do anything for CEOs.
00:05:53.260Still should be, you got to get a slap on the wrist or something worse for that.
00:05:57.720But that was, if that's the worst thing he can point at Pierre Baliev for, the fact that Pierre Baliev was a backbencher when this stuff happened, that's a pretty pathetic point for Jagmeet Singh to be making.
00:06:07.320And Pierre Baliev's entirely correct in his tweet where he says that Jagmeet Singh is literally part of Trudeau's government.
00:06:13.040So as Jagmeet Singh sits around whining that the prices of food are going up because of inflation concept, Jagmeet Singh denies the existence of.
00:06:22.200He just thinks inflation is something that Gail and Weston and the grocery store CEOs invented to artificially price gouge Canadians.
00:06:57.360Jagmeet Singh is still a little bit in question because people see him as useless.
00:07:01.060He's just as bad as Justin Trudeau on policy, if not worse, but he's in a position where, in theory, he should be holding Justin Trudeau accountable.
00:07:08.340And all he does is whine and then rubber stamps everything Justin Trudeau does.
00:07:11.880So anyways, I just now want to skip ahead to the tweet that's actually from today.
00:07:19.200Anyway, so but Jagmeet Singh says, so the liberals are going to trust the same people who conspired to fix the price of bread.
00:07:24.280Also, he has to really get off the bread price fixing thing.
00:07:26.480It's not as good of a talking point as he thinks he's going to trust the same people who conspired to fix the price of bread to make food affordable.
00:07:34.100That's what today's big announcement is.
00:07:47.360And I do not doubt that Jagmeet Singh will one day try and break into Galen Weston's house to try and find all of the hidden profits Galen Weston's holding back from the Canadian people.
00:07:58.560And whenever people call out the NDP as basically being a proto-socialist party, that's not a lie.
00:08:05.440Yes, the NDP more acts like a trade unionist party these days, the economic system behind fascism.
00:08:11.000But they're always moving more towards a socialistic economy where they want to nationalize more or at least they want to have such high regulations that effectively the government controls entire industries because everything in that industry depends on the regulation, not the hard work and efforts of the people who work in that industry.
00:08:30.200But again, Jagmeet Singh is whining about bread price fixing and all this other stuff that happened like a decade ago, more than a decade ago, I believe.
00:08:38.820Yet he's literally in favor of price fixing.
00:08:41.340He just thinks that he should be able to fix prices lower and that that's a good form of price fixing.
00:08:47.500You are taking money away from businesses that hire people.
00:08:53.280I would not be surprised if they start fixing prices and inflation keeps going up.
00:08:57.980But grocery stores will start having to lay off workers to make up for lost revenue or raise the prices on other items that are not being fixed in order to make up for the prices or they'll just close entirely.
00:09:10.300Because Jagmeet Singh sucks at economics.
00:09:12.460And if he was prime minister, I could see him fixing prices at a level where grocery stores are literally at a net loss for every unit of a product they sell.
00:09:20.540Jagmeet Singh doesn't understand that every grocery store is incentivized to sell at a lower price of all the other stores.
00:09:29.020Yes, there is these tiny moments in Canadian history where grocery stores get caught kind of fixing the price of a singular item.
00:09:38.140But for the most part, grocery stores compete on price.
00:09:41.740It would be foolish to get into a compact with other grocery stores and try and raise all prices on Canadians and price gouge them secretly behind the scenes.
00:09:49.800When, if you're Sobeys, you could just keep your prices low, everyone else raises theirs, and then you immediately make a bunch of money.
00:09:55.500There is a lot of incentives not to go along with the crowd in a properly capitalistic economy.
00:10:02.320But don't tell Jagmeet Singh that because he'll probably call you racist or something.