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, Canada’s cozy network of oligopolies – in which a few players dominate one sector – can look very different. Slim competition can keep upstarts out and profits in, driving strong shareholder returns and attractive dividends over the long term.
“We 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,” Ian de Verteuil, head of portfolio strategy at CIBC Capital Markets, said in an e-mail.
Corrected title:
Consumers[>95% of Canadians] maygrumble[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]In the end, isn’t that what life is truly about? Won’t people think of those poor billionaires?
Considering who owns the Globe, this shouldn’t be a surprise.
Agreed. This headline is a textbook example of plutocratic propaganda