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The Economy

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

Page 155 of 462
  1. Hermes

    Hermes Well-Known Member

    The only businesses that I could see making way more profit right now would be a virtual service business that doesn’t use raw materials, pay for travel or shipping. You could jack prices without costs going up. Everything else? It just costs more to do everything. Reich’s accusation seem unhinged to me.
     
    Hermes, Oct 15, 2022
    #1849
  2. Regan MacNeil

    Regan MacNeil Well-Known Member

    So we're back to saying the profit part is made up? There aren't record profits (or 50 years or whatever)? If that's the case, fair enough.

    If that profit claim is true, I'd sure like to know how they're managing to do it. Because they're geniuses to manage that in this disastrous Brandon economy.
     
    Regan MacNeil, Oct 15, 2022
    #1850
  3. doctorquant

    doctorquant Well-Known Member

    No, the profit rates have been high. I wonder if it's an accounting artifact, but if it is that won't last.
     
    doctorquant, Oct 15, 2022
    #1851
  4. Hermes

    Hermes Well-Known Member

    I know our chief financial guy told us we’re beating budget on some raw materials like carbon steel, so I guess it’s possible. But other stuff that is stubborn to come down pretty much wipes most of that out, I would think. My company’s increased profit comes from hospitals and national drug store chains ordering services and products they put off during the pandemic. But our gainsharing, which is tied directly to profits, is only slightly up from 2019. So from a micro view, it seems odd to think you could game this system right now. Perhaps other businesses that don’t use raw materials are different, though.
     
    Hermes, Oct 15, 2022
    #1852
  5. Twirling Time

    Twirling Time Well-Known Member

    Here's the Republicans' idea of a jolt to the economy: An impeachment a week for 96 straight weeks between the new Congress and the November 2024 election.
     
    Twirling Time, Oct 15, 2022
    #1853
  6. The Big Ragu

    The Big Ragu Moderator Staff Member

    Here are the facts.

    1) The latest numbers we have are from the second quarter of this year. Corporate profits were up 6.2 percent. If you use the government's CPI measure (which understates prices, a different conversation), inflation was up 9.1 percent year over year. So if you believe the CPI as a measure of inflation, those corporate profits didn't keep pace with inflation. In real terms, corporations in the aggregate have been losing money. Which fits with what many large companies have been reporting; many consumer companies have beeing saying that they are doing everything they can to not pass along the entirety of their rising input costs to consumers.
    2) People repeat nonsense without any clue of what they are talking about. What does "record profits" mean? In the aggregate? Because unless we are in a recession and the economy is contracting, there are almost always record corporate profits at any point in time (in nominal terms). When the economy is growing, it means that more money is being made than ever before. And that doesn't even take into account that monetary inflation is increasingly eating into those nominal profits to make their profits something entirely different in real terms.
     
    The Big Ragu, Oct 16, 2022
    #1854
    justgladtobehere and Hermes like this.
  7. swingline

    swingline Well-Known Member

    My head hurts.
     
    swingline, Oct 17, 2022
    #1855
    tea and ease likes this.
  8. The Big Ragu

    The Big Ragu Moderator Staff Member

    Register to read | Financial Times

    It's probably nothing. I mean, it''s gotta be just coincidental that shady currency swaps between the Fed and the SNB have been sending billions of dollars to Switzerland at below-market interest rates, just at the time that credit default swaps for Credit Suisse were blowing through the roof.

    No need for them to be transparent, or anything, it's just routine "plumbing" stuff. The average person doesn't need to worry his or her pretty little head over such mundane things.
     
    The Big Ragu, Oct 21, 2022
    #1856
  9. goalmouth

    goalmouth Well-Known Member

    New Apple watch predicts your ovulation. The economy is in good hands.
     
    goalmouth, Oct 22, 2022
    #1857
  10. Regan MacNeil

    Regan MacNeil Well-Known Member

    Can't you just track the proximity of the local bear population?
     
    Regan MacNeil, Oct 22, 2022
    #1858
    Woody Long likes this.
  11. DanOregon

    DanOregon Well-Known Member

    DanOregon, Oct 28, 2022
    #1859
  12. justgladtobehere

    justgladtobehere Well-Known Member

    Haven't we been through this? Oil companies cannot manipulate prices. There are a bunch of NPR programs saying the very same thing. As has been pointed out, record profits mean nothing in an inflationary economy.
     
    Last edited: Nov 1, 2022
    justgladtobehere, Oct 31, 2022
    #1860
    Hermes likes this.
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