Fog cannons coming to a mall near you?

Advertisement

As we know, Treasurer Jim “Chicken” Chalmer’s has crashed real wages to such a degree that Australians are turning to shoplifting in droves to survive:

Now, retailers are fighting back:

Some of the region’s major brands have revealed the cost of the crime wave. Jeweler Michael Hill International Ltd. said earnings were hurt by its NZ$5 million outlay on security, including guards, fog cannons and armored glass. In Australia, major grocer Coles Group Ltd. said its total stock loss rose 20%, and it’s deploying more security personnel and trialling body cameras for staff.

Advertisement

Retail body the Australian Retailers Association earlier this year renewed calls for state and territory governments to enact harsher penalties for people who assault retail workers.

While many retailers are grappling with the financial fallout of rising crime, the impact on staff may emerge as a longer-term problem for retailers.

“Ten years ago, people who were stealing were hiding products in their jackets or down their pants,” said Auror’s Thomson, estimating organized criminals can target up to 10 stores a day. “These days they’re filling up a trolley and pushing it back out the front door and they don’t care who sees them.”

The gangs resell the product, obviously at a discount to the supermarkets.

So, don’t be surprised if you find yourself unexpectedly engulfed at the mall:

Of course, the real fog cannon is Jim Chalmers himself who says wages are rising:

Advertisement

All the stealing is just a fad, then.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.