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The Economy

Discussion in 'Sports and News' started by TigerVols, May 14, 2020.

Page 20 of 390
  1. The Big Ragu

    The Big Ragu Moderator Staff Member

    They seem to be slowly getting a handle on it, at least. Their cash burn rate per day is 70 percent lower than it was in March. The bad news is that they are still burning about $27 million a day, and now are scrambling to find other things to cut. It's just a horrible situation.

    They already had accumulated about $18 billion in debt, and most of that went to stock buybacks to jack the stock price. ... instead of investing in the business. That could have been a rainy day fund that would have them sitting in much better shape right now. But that is the insidiousness of the incentives the Federal Reserve cluelessly created over a very long period of time. So it's an immense amount of debt that did nothing economically productive. ... and is now a default of a huge amount of debt waiting to happen. That debt is an albatross making a bad situation even worse.

    Honestly, they should be declaring for bankruptcy, but they are being propped up by handouts, effectively shifting their debt burden to all of us. ... and the Federal Reserve having hijacked the debt markets, which would have made their bonds worthless in March (as they would be in an actual market with price discovery. ... without the Fed creating money out of thin air and being the buyer for worthless things).
     
    The Big Ragu, Jul 14, 2020
    #229
  2. goalmouth

    goalmouth Well-Known Member

    Privatize profits, socialize losses.
     
    goalmouth, Jul 14, 2020
    #230
  3. Michael_ Gee

    Michael_ Gee Well-Known Member

    The consolidation of the airline industry means the Big Three are too big to fail, although American and United deserve to on consumer protection grounds rather than Delta's poor finances.
     
    Michael_ Gee, Jul 14, 2020
    #231
  4. Twirling Time

    Twirling Time Well-Known Member

    Nope, there is room for a Big Two. There will be One Big Looser. Someone in the second tier like Southwest will pop up to take their place.
     
    Twirling Time, Jul 14, 2020
    #232
  5. Noholesinone

    Noholesinone Well-Known Member

    The one-percenters continue to do well. Analysts expected Goldman Sachs to make $3.78 a share in 2Q. GS blew past that in a blur, announcing $6.26.
     
    Noholesinone, Jul 15, 2020
    #233
  6. qtlaw

    qtlaw Well-Known Member

    So House Subcommittee hearing tomorrow on potential monopolistic behavior by four tech titans; Amazon, Google, Facebook and Apple.

    I studied monopolies in undergrad Econ and Antitrust in law school so I’ve been very interested in the subject for a long time.

    Google is a near monopoly but that’s because of people, not any real barrier to entry. People have choices but choose otherwise. I loved to Firefox last year and now use Brave on desktop and DuckDuckGo on phone. It’s not that hard.

    Amazon is another story. They wield their market power harshly.

    Apple, not so much. People can go android.
     
    qtlaw, Jul 29, 2020
    #234
    Liut and maumann like this.
  7. Noholesinone

    Noholesinone Well-Known Member

    VW loses 800 million euros over the first six months of the year. (Over the first six months of 2019, it was +10 billion.)

    In the second quarter, Shell Oil profit was off 82 percent.
     
    Noholesinone, Jul 30, 2020
    #235
  8. heyabbott

    heyabbott Well-Known Member

    Is Apple even leader of any catagory?

    is Amazon more of a monopolist than Walmart?
     
    heyabbott, Jul 30, 2020
    #236
  9. micropolitan guy

    micropolitan guy Well-Known Member

    Flew Delta last week. Same good service. Atlanta and Buffalo airports were as empty as I'd ever seen them.

    OTOH, flying, getting on and off the plane and getting through security are wonderfully easy. And it's nice not to be crammed in like a sardine.
     
    micropolitan guy, Jul 30, 2020
    #237
  10. qtlaw

    qtlaw Well-Known Member

    The reason Apple comes up is people see so many iPhones and think its a monopoly. Don't remember ever hearing anything about them doing anything untoward.

    Amazon may be different depending on how they have asserted their power in the distribution chain, perhaps threatening anyone not to go anywhere else otherwise Amazon won't let them sell on their site or refusing to distribute/ship their products.
     
    qtlaw, Jul 30, 2020
    #238
  11. doctorquant

    doctorquant Well-Known Member

    Amazon's 2019 revenues of $280 billion represented about 5% of US retail trade. Some monopolist.
     
    doctorquant, Jul 30, 2020
    #239
  12. Twirling Time

    Twirling Time Well-Known Member

    Twirling Time, Jul 30, 2020
    #240
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