this post was submitted on 31 Mar 2024
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Canada

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Canada: three oligopolies in a trenchcoat.

Bank service charges and overdraft fees can infuriate consumers, and more choices could lower their temperature.

From the perspective of investors, though, Canadaโ€™s cozy network of oligopolies โ€“ in which a few players dominate one sector โ€“ can look very different. Slim competition can keep upstarts out and profits in, driving strong shareholder returns and attractive dividends over the long term.

โ€œWe have a handful of oligopolies that are able to fend off new entrants (whether regional or foreign) without needing to destroy profits for an extended period of time, or where we need a government financed solution,โ€ Ian de Verteuil, head of portfolio strategy at CIBC Capital Markets, said in an e-mail.

https://archive.is/1BPVW

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[โ€“] [email protected] 25 points 7 months ago (2 children)

Corrected title:
~~Consumers~~ [>95% of Canadians] may ~~grumble~~ [be increasingly unable to afford food and housing due to unchecked corporate greed], but these oligopolies are great for [making the already wealthiest <5% of Canadians and foreign] investors [even wealthier]

[โ€“] [email protected] 5 points 7 months ago

In the end, isn't that what life is truly about? Won't people think of those poor billionaires?

[โ€“] [email protected] 3 points 7 months ago (1 children)

Considering who owns the Globe, this shouldn't be a surprise.

[โ€“] [email protected] 5 points 7 months ago

Agreed. This headline is a textbook example of plutocratic propaganda