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The Economy

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

  1. qtlaw

    qtlaw Well-Known Member

    Admittedly, I'm only going on my anecdotal stories, Wal-Mart, Sam's Club, etc. I'm probably wrong.
     
  2. Alma

    Alma Well-Known Member

    It just might come to the latter, in one way or another. And it might not be the end of the world, either.

    I am, for example, OK with the masks and pills being made stateside. OK, it's costlier. Let's go ahead and move that shit back here.

    Here's the thing: Consumers aren't really ever given much of a choice on this. Certain shareholders demand year over year over year ascendant profit - a good year is bad, a great year might just not be great enough - and so companies acquiesce as desired to keep their jobs.

    Give 'em a choice and we'll see. But that, of course, is dangerous to a lot of powerful people, choice. Most people would choose universal health care. We don't have it.
     
  3. Inky_Wretch

    Inky_Wretch Well-Known Member

    That's exactly right.

    The newspaper I worked at years ago regularly returned around 20-percent profit to the owner. Once we started dropping to 15-percent, the cuts began. When we hit 10, they got serious (and I got out).

    Who wouldn't be happy with 10-percent ROI? A billionaire used to getting 20.
     
    OscarMadison and Driftwood like this.
  4. Elliotte Friedman

    Elliotte Friedman Moderator Staff Member

    Of course no one "should" have to make this choice. But it's going to happen. Let's say the NHL returns this summer. My employer is going to come to me and ask about working -- likely at the studio. I'll say yes, but, until there's a vaccine, it comes with risk. I won't argue with the choice anyone else makes. It is deeply personal. But one of the reasons I will go back to work is to ensure the financial future of my family.

    No disaster relief/aid package is going to make me vote differently. We all have to re-establish our value -- no matter what we do -- in uncertain times. Employers will be cutting everywhere.
     
  5. TigerVols

    TigerVols Well-Known Member

    Don't read this if you're not on your deathbed; the future is bleak.

    An Economist Who Called the 2008 Crash Says We’re In for a Long Depression

    You’re going to start having food riots soon enough. Look at the luxury stores in New York. They’ve either boarded them up or emptied their shelves, because they’re worried people are going to steal the Chanel bags. The few stores that are open, like my Whole Foods, have security guards both inside and outside. We are one step away from food riots. There are lines three miles long at food banks. That’s what’s happening in America. You’re telling me everything’s going to become normal in three months? That’s lunacy.
     
    Inky_Wretch likes this.
  6. Inky_Wretch

    Inky_Wretch Well-Known Member

    For all the talk about Main Street, the pols are puppets for Wall Street. Profits must be privatized and losses socialized. Can't let the stock market slip - even as tens of millions are out of work.
     
    wicked and TigerVols like this.
  7. Elliotte Friedman

    Elliotte Friedman Moderator Staff Member

    after reading that, I’m going to drive off a cliff
     
  8. TigerVols

    TigerVols Well-Known Member

    Indeed...obviously anyone who follows the stock market considers Nouriel Roubini's opinions to be at the least worthy of consideration...and he provides some solid facts to back up his fears. Unfortunately!

    I think the best we can do over the next half-decade or so is to not try and paint over the cracks in the economy -- they are too wide -- but instead use this period to move into a new form of social and financial equity, much like the Great Depression brought about.
     
    OscarMadison likes this.
  9. swingline

    swingline Well-Known Member

    If it came to that for us, I'd find a way to accident myself to death so my wife and kids would get the life insurance money. And I think my kids would get Social Security payments until they're 18.
     
  10. Noholesinone

    Noholesinone Member

    I do agree that the second half of the year is going to be even more painful than we imagine. Mitch McConnell says he's dead set against extending unemployment benefits, but I don't think he's going to have much of a choice.
     
  11. TigerVols

    TigerVols Well-Known Member

  12. Noholesinone

    Noholesinone Member

    Hertz shares fall about 50 percent, to $1.30, in after-hours trading.
    American Airlines also in dire straits; doesn't look promising.
     
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