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Pandemic and Prices

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Submitted by Wayne Cadogan

Good Morning David, I know that it has been a  while I haven’t submitted anything, but I thought that I should make a contribution and this short article was not a bad topic to start. If it is possible to be printed in any form to get the message out, I would appreciate it. Thanks.

price gouging

Someone sent me this receipt last night on WhatsApp and I thought that I should share it with the public. This is highway robbery, price gouging, stealing from the poor. This is one of the reasons that Barbados needs to have a strong consumer protection agency to fight for and protect the vulnerable from being taken advantage of by some of these unscrupulous business establishments of the poor who are the ones that usually feel the brunt of such exploitation. Barbadians need to boycott these businesses that infringe on the laws and taking advantage of the less fortunate. What is really amusing is the fact that they say ” Thanks, come again”.

 

Wake up Barbadians.

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205 responses to “Pandemic and Prices”

  1. robert lucas Avatar
    robert lucas

    Is the receipt genuine? All sorts of things can be generated using a good printer and a computer. Those were the first thoughts that came to mind. If true, I can only envisaged the person purchasing things at such a price because there was no food in the house. Some price hikes have been seen, but nothing like what is depicted in the post.

  2. David Avatar
    David

    @Dr. Lucas

    The best was to debunk is to expose and discuss. If false the proprietor should be in a hurry to issue a statement.

  3. Hal Austin Avatar
    Hal Austin

    All the details are on the receipt. Call the number, block it. What size was the corned beef. A small tin in London is about £1.7, just under $3. A tin of sardines is about 50p, $1.50.

  4. cpilgrimeaqaolcom Avatar
    cpilgrimeaqaolcom

    Personally, I believe that Cadogan’s larger point – the need for a serious consumer protection agency and some manner of price controls- is well founded.

  5. Sargeant Avatar
    Sargeant

    Items from stand- alone Convenience Stores or those attached to gas stations are always more expensive than purchases from Supermarkets. That said what is the average price of the items at other established outlets? In normal times one would say “Caveat emptor” but these times are far from normal.

  6. Hants Avatar
    Hants

    Sleuthing.

    http://www.massystoresbb.com/affordable-deals/

  7. Hants Avatar
    Hants

    @ Sargeant,

    Today could be a good day to fill the tank.

    https://www.680news.com/toronto-gta-gas-prices/

  8. David Avatar
    David

    @Sargeant

    You are correct there is a premium charged by gas stations on items BUT a corn beef normally retails for about $3.50 and sardine about $2.00. To out was is listed on the receipt in perspective.

  9. Vincent Codrington Avatar
    Vincent Codrington

    @ Hants

    That particular brand is always higher than other brands. If one adds the premium prices these convenience stores charge the price would be unsurprising. It is like having a banks beer at Sandy Lane.

  10. Sargeant Avatar
    Sargeant

    @Hants
    Yesterday was the first time I drove in almost 2 weeks, the tank is still full and I’m listening to Trudeau with his daily update.

  11. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU

    The normal price for Corned Beef is between $4.00 and $ 4.95.

  12. Hants Avatar
    Hants

    @ Sargeant,

    I here listening to Trudeau too.

  13. David Avatar
    David

    @Vincent

    It depends on the brand. Clearly you are an Exeter man?

  14. F. M. Luder Avatar
    F. M. Luder

    Even with the “Convenience Premium” these prices are little steep given that both of these items are “VAT Free”. That said, brands distributed by Brydens and Hanschell are usually higher than similar items from other distributors. Eve is usually over $5.00 at the Non-Popular Supermarkets and Minimarts.

    Anyhow right now, you can get a single egg for $1.00 or a crate for $30, and a 1L PIne HIll juice for $14 – $15 at some village shops. Take it or leave it.
    I kid you not.

  15. Hal Austin Avatar
    Hal Austin

    It is called internal devaluation. Purchasing power parity. Money cannot stretch very far. We urgently need a prices and incomes commission to control wages and prices.

  16. Greene Avatar
    Greene

    are those eggs gold?

    is the Pine Hill juice life give nectar?

    who needs devaluation with those sort of prices?

    i spoke about price gouging 3 weeks ago and was criticised lol

  17. Hal Austin Avatar
    Hal Austin

    @ Greene

    Some time ago I suggested that small shop keepers should form a wholesale distribution cooperative to import and distribute their goods. Not only will it cut out the middle man, it will also free up the small shops to compete with the foreign-owned supermarkets.
    We now have a perverse system in which the Roebuck Street boys have been replaced by the supermarkets acting as wholesalers. Nonsense. We pay a high price for our folly.

  18. Greene Avatar
    Greene

    @Hal

    good suggestion. do you know whether it got to ears of the right group and whether it was acted upon?

  19. John Avatar
    John

    Hal Austin
    April 23, 2020 12:54 PM

    It is called internal devaluation. Purchasing power parity. Money cannot stretch very far. We urgently need a prices and incomes commission to control wages and prices.

    ++++++++++++++++++++++++++++++++++++++++

    How do we generate wages when there is little employment?

    You know we are going to be taxed out of existence in the not too distant future!!

  20. John Avatar
    John

    Isn’t something missing from the bill?

    How much VAT did the transaction attract?

    That bill appears to be bogus!!

  21. Mariposa Avatar
    Mariposa

    Also what is the ounce per can

  22. Hal Austin Avatar
    Hal Austin

    @ Greene

    Not at all. I once attended a meeting of the ZR owners and some civil servants in the Port and suggested at the meeting that ZR owners should self-insure. This guy, one of the government workers, a returnee from London, screamed: They can’t do that! I thought he was going to have a heart attack. They were complaining about the high cost of insurance.
    I suggested they should self-insure, re-insurance third party, and either start their own garage to do repairs or, even better, contract with a local garage.
    The alternative was to go in bulk to an exiting motor insurer and demand a good deal. Business is not our strong point. It is low hanging fruit, that is why the Trinidadians can come in and take business off us. I spent the rest of the meeting talking to an old school mate.

  23. Critical Analyzer Avatar
    Critical Analyzer

    I don’t get you people and Bajans in general, always complaining about shop prices. If you don’t like the price, JUST DON’T buy it, SIMPLE. Market forces would dictate they either lower the price, throw it out when it spoils, stop selling the product or go out of business.

    Why don’t you also complain about the price of dolphin or chicken at a fine dining restaurant being more expensive than the price at Oistins while you’re at it.

    The only prices you have a right to complain about are price controlled items. Otherwise, the business can set what ever price they. You don’t know their overheads.

  24. Artax Avatar
    Artax

    @ David BU

    I sent you an email for your urgent attention.

  25. F. M. Luder Avatar
    F. M. Luder

    Items shown are from the basket of goods and are therefore exempted from vat.

  26. F. M. Luder Avatar
    F. M. Luder

    I can still remember when Julie N was a “small” player and started to compete with the big players of that time.

  27. William Skinner Avatar
    William Skinner

    Some controls seem necessary. Quite recently , I read that farmers would sell vendors produce and then turn up at the same venue and sell produce below the price of the vendor. In that way, farmers are both wholesalers and retailers.
    When gas stations started carrying mini marts , I said that they would wipe out the traditional small shops. Gas stations should only be allowed to sell auto related products. Later, my research revealed that the gas station minimarts, make greater profit than the gas.

  28. David Avatar
    David

    @Artax

    Thanks, will investigate.

  29. robert lucas Avatar
    robert lucas

    @ Vincent Codrington April 23, 2020 11:36 AM

    I do not know where you shop. just before the curfew, Popular had Rainbow Corned beef at $2.99 and last year Clasico also at the same price. Expiry date 2023,production date 2018 and all the product of Brazil. Corned beef is corned beef, the only variation is the amount of fat added.

  30. Tron Avatar
    Tron

    @ Hal Austin April 23, 2020 1:19 PM

    You’re absolutely right. A case of internal devaluation. That’s why cars cost a fortune in Barbados.

    If we put food prices in relation to income, the true value of the Barrow-dollar is more like 1:4 to 1:5 USD.

    It is quite possible that food prices will rise much more in the coming months, to USD 1:9 to 10:10. Of course, they will tell us again that we have high currency reserves. They are lying to our face every day because those reserves consist only of debt to the IMF and other lenders. It would be more honest to talk about 2 billion in debt.

    However, the naive Barbadian masses will never understand this. They learn poetry, nationalism and the like at school, but not economics. It would be better to teach the children the basic rules of economics instead of the national anthem.

  31. robert lucas Avatar
    robert lucas

    @ Critical Analyzer April 23, 2020 3:28 PM

    Precisely. I walk away from high prices. Let them keep their stuff.

  32. Tron Avatar
    Tron

    @ Hal Austin April 23, 2020 1:19 PM

    Addendum: In the Eastern Bloc they had a similar effect before 1990: the official exchange rate of communist money against the German mark and the US dollar was much higher than the actual internal purchasing power. Example: Official communist exchange rate West German Mark to East German Mark 1:1. In the West, banks traded the East German Mark 1:10.

    Such a large disparity between the internal and external value, as was the case with the communists and is now the case in Barbados, is a clear sign that the end is near.

  33. Hal Austin Avatar
    Hal Austin

    @ Tron

    You are right. Reactionary political nationalism has replaced objective economic analysis and those who ought to know better have opted to remain silent. Ultimately they are betraying the people.
    The only reason why our dollar is so over-valued is because of a false pride. To change that behaviour we must be honest with the people.
    But who wants honesty when you can fly the flag and talk nonsense about being world class and punching above our weight and make bogus claims that our president is the best political leader in the world..

  34. Vincent Codrington Avatar
    Vincent Codrington

    @ Robert Lucas

    At my age corned beef is not a staple. The occasions when I do buy I pay attention to the salt and fat content. The texture and protein content also vary from brand to brand.

  35. robert lucas Avatar
    robert lucas

    @ Vincent Codrington April 23, 2020 5:15 PM

    Even the reduced salt ones have lots of salt All are made from very old animals.

  36. Vincent Codrington Avatar
    Vincent Codrington

    @ Robert Lucas at 5:23 PM

    Thanks for confirming my suspicions, especially the old animal bit . One more reason not to buy. That is one stage up from retired race horses. LoL !!

  37. Hants Avatar
    Hants

    I have 2 large tins of Hereford corned beef in the cupboard .I will divide one into 3 servings and combine with onions,tomatoes,

    Day 1 with mashed white potatoes. Day 3 with macaroni and cheeze, Day 5 with cou cou.

    I am 68 year old bachelor and does eat wha I like when I like. lol

  38. F. M. Luder Avatar
    F. M. Luder

    Rum is rum…
    No, no man. I know.
    I did only mekking sport.
    Jus like the fella dat seh, pork is pork.
    He din seh so???
    Ohhh, wait deh, I gine and check….

    Yuh rite yuh, he din seh suh atall.
    Wuh he did seh wuz; “Corned beef is corned beef”.
    Uh uh, dats rite. I swear, hand pon de bottle.
    Buh looka muh crosses doh.

  39. F. M. Luder Avatar
    F. M. Luder

    Cou cou and corned beef?????

    Never in all my life have I heard such!

  40. F. M. Luder Avatar
    F. M. Luder

    I doan know bout de macaroni and cheese bit, but 123, I could work wid.

  41. Vincent Codrington Avatar
    Vincent Codrington

    @ F M Luder

    Yes. Cou Cou and Corned Beef is a combination worth trying. Fried cabbage and Corned Beef is also a recipe which I adopted from Jamaica.

  42. Jolly Green Avatar
    Jolly Green

    Price controls are something to avoid or you will end up like Venezuela. The greatest control is for people not to buy from those that gouge. If you buy expensive its your ow fault. For instance if you really have to buy expensive, why buy two?

  43. Hal Austin Avatar
    Hal Austin

    @ Jolly Green.

    Nonsense. Control of prices and wages is one of the best ways of managing asset price inflation. It does not mean prices will not increase, or wages, it means they must be justified. It means every time managers re-stock shelves they just cannot increase prices.
    By the way, there is also the psychology of shopping.
    Because prices are lower in one shop does not mean consumers will flood in to it. Psychologically, shoppers associate cheap with no good. There must be a balance. You must asks me about selling cut-price books in perfect condition.

  44. David Avatar
    David

    The pros and cons of price controls have been recorded, how it affects supply, creates black market conditions to name just two.

  45. Critical Analyzer Avatar
    Critical Analyzer

    We talk price control because we think the retailer is profiting too much and robbing us.

    How about a totally new concept, profit control. Limiting the markup to no higher than a certain percentage. That should be easier to investigate and prosecute.

  46. William Skinner Avatar
    William Skinner

    I really hope that when all the pretty talk is done that we note that Caswell Franklyn, said there are people working for $250 per week and at least one merchant is saying that such salaries should be reduced by 50 percent! All of our theories and intellectual arguments seem to exclude this simple fact. Imagine workers getting $250 per week and next time we read Eurocentric eighteen century crap try applying it to this simple fact.

  47. Greene Avatar
    Greene

    @WK

    is that net or gross? and dont forget high taxation and cost of living?

  48. Greene Avatar
    Greene

    @WS

    is that net or gross? and dont forget high taxation and cost of living?

  49. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU

    ” Clearly you are an Exeter man”. No ! Libby’s actually.

  50. Hal Austin Avatar
    Hal Austin

    Critical Analyzer

    Price controls/profit controls, the idea is to control the mark up. Any increases must first be approved.
    @ William

    Who are the workers earning Bds$250 a week and which industries? Are the workers unionised? Are they self-employed or employees? Police earn about $33000 a year or $635 a week; civil service lawyers earn $70000 or $1346 a week; a permanent secretary earns about $150000 or $2885 a week.
    I am not sure what you mean by Eurocentric crap, but an ability to think is not a bad thing and European workers do that much better than we do at present. We must look at the division of labour and the contribution of each worker to the overall enterprise.
    I have called for a new and modern Companies Act that over-rules the nonsense about shareholder ownership from the 1920s and replace it with stakeholder ownership.
    We need to re-write our tax laws so that top executives advised by their expensive lawyers and accountants cannot have a free ride on the poor taxpayers, from luxury cars to their children’s school fees; from having their domestic phone bills paid and dining out on taxpayers; to interest-free company loans.
    Companies law and tax law are rigged in favour of the top people and against those on PAYE. It is the system, not just the size of the pay packet. Hand to mouth living is not good, but it is better to teach a man to fish than to offer him a fish cutter.
    Even top US corporations are now accepting this reality. Do you think a chief executive has a bigger interest in the survival of a company than the security guard with four children and a mortgage?
    Do you think the CEO of Union Carbide had a bigger interest in the survival of the company than those poor people living next to the company’s Bhopal factory who died in that explosion?
    Let us take a simple example: Ju-C came on the market some time ago, did the workers collectively make a bid for the company? Banks/PHD came on the market some time ago, did any Barbadian investors make a bid for the company?
    @ William, try offering a worker shares in a company or a pay rise and let me know the answer. Our unions must do more than call for higher wages and walking out on strike, they need to think about the interests of their members, at every stage of their lives.

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