baloney
Image: © Cathy Kates / Imgcop

Asda and Sainsbury’s say they’ll cut prices by 10%, and people are sceptical

The main question is: who exactly is going to take the hit?

MPs were having a bit of an argument with the chief execs of Asda and Sainsbury's yesterday over whether customers really were going to be better off as a result of the merger.

What it means: The whole 'Asdabury''s thing had people a bit suspicious about the fact that this new mega-market would basically control 31% of the supermarket industry.

But both chains say this'll be good for customers: they claim they can cut the prices of everyday products by 10%.

Yesterday, MPs grilled them on how exactly those savings would be made – and it all got a bit heated, with everyone throwing around words like "Mickey Mouse Figures" and "nursery rhymes" , and "Don't come here and talk baloney – I can add up."

The thing is, the chief execs wouldn't say where those savings come from – they claimed it's 'confidential and sensitive' information, presumably because they don't want someone copying their business model.

But it highlights how something that looks great to one person in an economic exchange – a drop in prices – always has another side to it... and if we don't know what that other side is, it's hard to make a judgement call on whether we think it's justifiable.

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Reader Comments

  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

    Of course there is nothing wrong with any of this. It’s when you elaborately gain disproportionate power in any society where you would stand out, you must take care when attempting to make a society better (Civil Rights movement) and rewriting that society all together (mass immigration). Ask blacks in China, Mexico, Philippines or India how much opportunity they have? Go to businesses owned by their American diaspora and see how many blacks they hire. Go to Silicon Valley and see how many East or South Asian tech workers wish they could work with more black people. California might work as a state, but as a nation, I think your rolling the nuclear dice here. I hope we can succeed as a tolerant pluralistic superpower but at this stage in human societal development, it’s a pipe dream.

    And if Jews really are the icon for success, they would see that fundamental human successes happen over generations. Just look at the rest of the planet? Are we ready?