Cover of the newspaper? How the dairy cartel is hard struck.

Nova Scotia yesterday? First Nations fishery was ransacked, because the lobster industry doesn't want "competition."

🇨🇦 seems less racist than 🇺🇸 because Canadians just ignore it.

#cdnpoli

aptnnews.ca/national-news/…
2/ Okay, white people are filling my inbox with why First Nations are "wrong."

First, that doesn't justify intimidation used by fisherman. They ransacked their building, torched their van, then 200 fisherman engaged in intimidation with the RCMP watching.
thestar.com/news/canada/20…
3/ Second, the claims of "over fishing" are incorrect. The government has said the stocks are fine. They're using the term to falsely appeal to environmentalists.

What they're actually referencing though is the collapse of prices from increased competition. They left this out...
4/ Lobster is a luxury food, in the middle of a global recession with restaurants closed. Demand evaporated.

The US and China are ordering about 10% of what they used to. This leaves a massive oversupply by collapse of demand. The US is now domestically oversupplied.
5/ Fishermen are blaming the collapse of a market product on a single fishery operation.

Third, yes. This is racism. If a group is intimidated out of market participation because of race, it is racist.

If you're not a settler or benefiting their operation, you're locked out.
6/ If you want to participate by the rules of capitalism, you need to be prepared for it to swing back. You can't use your pre-determined position in society to lock out other players.

Also, screw the dairy cartel.

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More from @StephenPunwasi

14 Oct
Watching governments set the precedent they'll work to prevent recessionary downturns is an interesting development for wealth inequality.

It actually makes rich people *much* richer, and the gap even wider. It doesn't work for a long time though.

<thread 1/6>
2/ Recessions serve a very useful purpose in capitalism's boom bust cycle. Inefficient purchases, people that overpaid, lose that speculative premium.

They suffer losses, and people with lower income get the opportunity to buy into an asset at depressed values.
3/ If you backstop losses, it makes inefficient purchases no longer subject to purges. Instead, lower income people no longer have an opportunity to buy in at a "deal."

The price only goes up. They're doing it with tax dollars too, meaning everyone also pays for the gap.
Read 6 tweets
12 Oct
Paying 2 month’s salary for an engagement ring is dumb, and not a real tradition.

It’s one of the many successful strategies one single (predatory) company used to capture a series of suckers into inflating the price of diamonds.

Here’s how people got suckered.

<thread> 🧵👇
2/ First, the diamond trade is almost entirely controlled by one company - De Beers. They control two-thirds of the diamond trade, and since its founding the goal was to always to control the market.

It was founded by one of history’s greatest monsters - Cecil Rhodes.
3/ Yeah, the same Rhodes which the scholarship is named after.

This genocidal, white supremacist founded De Beers. He initially used prison labor. If you understand South Africa’s prison system at the time, you know this was just slavery.
Read 15 tweets
11 Oct
Okay, so this whole time I had this vision of Gutenberg inventing the printing press in his workshop, and revolutionizing printing.

Turns out he raised capital like a modern startup in 1450. He also got screwed by his investor, like many modern startups.

<thread> ⬇️
2/ A dude named Johann Fust was convinced to lend Gutenberg 800 guilders in 1450, and another 800 in 1452. That’s about €400,000 by my calculations.

Not a small investment.

Fust was also a huge jerk.
3/ One jerky thing he did was sue Gutenberg, for the original investment plus interest.

Gutenberg maintained he said their was no interest when he promised to lend him money.

Gutenberg lost the case, even though there was no document proving he had to pay interest.
Read 7 tweets
9 Oct
One thing a lot of people don't realize is how lucrative the pandemic has been for big business. The stock market is entirely driven by it.

We now have a situation where many big businesses, politically connected companies, and investors *want* a lockdown. Which is wild.
One of my best friend's family owns a relatively large manufacturing operation in Canada.

Orders were *delayed,* not gone.

They received cheap capital, and labor subsidies. In other words, free money. He's super excited about how much cash the government just gave them.
His also made a point I made.

Companies need labor. The labor subsidies are free money. They weren't going to fire everyone and not do business.

People are so worried about losing their job, they were willing to subsidize their own wages.

Read 4 tweets
9 Oct
Quick lesson on “ghetto taxes.”

This is the phenomenon where people with less income actually pay more for the same things rich people do.

<thread> 🧵 👇
2/ The biggest one is lending IMO. How are interest rates determined?

By credit score.

How do you get a better credit score? By borrowing more, and paying it off.

How do you borrow more? Make more money.

On a mortgage, this means poor people pay thousands more in interest.
3/ Groceries is another huge one. Since wealthier households can afford larger bulk buys (Costco-style), they average down on costs.

Example, people on tight budgets may not be able to buy a year of toilet paper at once, and thus may pay 4x more for the same supply over time.
Read 4 tweets
7 Oct
In Toronto you can only get a test by appointment *and* you're symptomatic, so this number is most likely waaaay higher.

Ford is throttling numbers so he doesn't look totally incompetent.

#onpoli #cdnpoli
"Nearly impossible" to get tested. But the numbers are going down. 🙄

#Toronto

"extremely limited" testing. Cases are falling tho!

Read 4 tweets

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