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The Trudeau grocer tax solution

Inflation jumped in August, and anyone who’s been to a grocery store in 2023 didn’t need Stats Canada to tell them that. I just paid $23 for a chicken. On sale.

So Trudeau, along with key cabinet ministers and Deep Dive recurring characters Francois-Philippe Champagne and Chrystia Freeland, invited the CEOs of the country’s five relevant grocery competitors in for a little chat this past Monday.

The CBC reports that Freeland ducked out after a few minutes (probably late for a book burning), but Champagne stayed for the whole two hours, soaking up every minute he could get with actual real live CEOs.

You can read more on the matter here.

What’s going on?

• Conservative Podcaster Catturd Scratches Back After Being Swatted Live During Episode (theDeepDive)

• German Firm To Facilitate First Russian LNG Shipments Since Crisis (theDeepDive)

• US adds three Chinese companies to forced labor entity list involving Uyghurs (Reuters)

• Are Home Prices Up Because People Want Bigger Houses? (theDeepDive)

• U.S. calls on Azerbaijan to safeguard Armenians as thousands flee Karabakh (Reuters)

• US Ambassador: Five Eyes’ Shared Intelligence for Trudeau’s Accusations Against India (theDeepDive)

• WGA and Major Studios Reach Tentative Agreement to End 146-Day Strike (theDeepDive)

• Biden, Trump to woo union workers in Michigan as auto strikes grow (Reuters)

• Andrew And Tristan Tate Shot Their Own Defamation Lawsuit By Flaunting Their Public Figure Status (theDeepDive)

• Parallel Hits Bankruptcy, Sees SunStream Take Over (theDeepDive)

What’s the latest?

• Rota Pushed To Resign: House of Commons Speaker Anthony Rota is facing increasing pressure to resign after inviting a 98-year-old constituent, Yaroslav Hunka, to witness Ukrainian President Zelenskyy's address to Parliament. It was later revealed that Hunka had fought with the Waffen-SS Galicia Division during World War II, leading to outrage from various groups and individuals.

• Canada’s AI Boost: Google believes that artificial intelligence (AI) could contribute $210 billion to the Canadian economy. According to Google's Economic Impact Report, generative AI could add approximately 8% of gross value to Canada while saving the average Canadian worker around 100 hours per year.

• Unifor Targets GM: Contract negotiations between Unifor and General Motors Canada are set to begin, covering approximately 4,300 workers across various facilities. Unifor recently reached a new contract agreement with Ford Motor Co. of Canada, which included wage increases, pension and benefit improvements, special EV transition measures, and additional paid holidays.

• US Homes Sales Tumble: Sales of new single-family homes in the United States fell more than expected in August, dropping 8.7% to a seasonally adjusted annual rate of 675,000 units. This decline was attributed to the surge in mortgage rates, with the 30-year fixed mortgage rate surpassing 7% in August, the highest since 2001.

• UAW Targets Buybacks: The strike by UAW against major automakers in the U.S. is highlighting the issue of stock buybacks. Buybacks are typically viewed positively by investors as they can boost stock prices in the short term, but labor organizations argue that companies use them to manipulate stock prices and reward wealthy investors, including executives. The Big 3 automakers have collectively spent more than $19.3 billion on buybacks over the last decade.

Lampedusa’s migrant crisis

The stock market and stuff

• BitBoy Crypto Spends 8 Hours “In The Slammer” After YouTube Livestream Arrest (theDeepDive)

• MicroStrategy Spends $147.3 Million To Acquire 5,445 Bitcoin (theDeepDive)

• BitBoy Crypto Got Arrested While Streaming His Attempt To Get His Lamborghini Back (theDeepDive)

In the juniors

• Major Alpha Lithium Shareholder Openly Endorses Tecpetrol’s Revised Acquisition Bid (theDeepDive)

• LNG Energy Sees Natural Gas Production Of 19.2 MMcfe/d in August (theDeepDive)

• Surge Battery Metals Intersects 34 Metres Of 3,985 ppm Lithium (theDeepDive)

FULL DISCLOSURE: Terra Balcanica Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Terra Balcanica Resources. The author has been compensated to cover Terra Balcanica Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.