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The Economy

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

  1. The Big Ragu

    The Big Ragu Moderator Staff Member

    One story I saw the other day (not the NY Times story, but can't remember where) said they have only 100 of those enforcers on the buses -- citywide.

    In any case. ...

    M.T.A. Says No More Free Bus Rides for Fare Evaders
     
  2. The Big Ragu

    The Big Ragu Moderator Staff Member

    We will have government deficit this year that will be between $1.8 and $2 trillion, maybe more than $2 trillion -- piled on top of the already existing debt. Our government at all levels has exploded in size. It now accounts for 50 percent of GDP. GDP isn't the measure of the "economy" the way people understand it.

    Frankly, we should be seeing GDP numbers much better than this with the amount of government spending (and debt behind it) we have embarked on the last several years. If you are going to live a fantasy, you should be doing China type GDP numbers from a decade ago -- 9, 10 percent growth.

    Instead, take away the growth of our government over the last few years. ... and everything else has been floundering. Whole swaths of the rest of the economy have been contracting, actually.

    That isn't my "point of view" like I am making stuff up or rooting like a sports fan, FWIW.
     
  3. Azrael

    Azrael Well-Known Member

    It's going to be a real struggle.

    Thank goodness Albany is in charge of the MTA!
     
    Last edited: Aug 29, 2024
  4. goalmouth

    goalmouth Well-Known Member

    Container volume through the Port of LA-Long Beach complex has reached the same peak levels as were seen during the pandemic. China has stuff to sell and the American consumer is nothing if not resilient.
     
    2muchcoffeeman and Hermes like this.
  5. justgladtobehere

    justgladtobehere Well-Known Member

    The article, not linked, shows nothing like the headline.
     
  6. Dog8Cats

    Dog8Cats Well-Known Member

    Part of that on account of possible labor trouble at East Coast docks? Companies loading up in anticipation of interruptions later?
     
  7. goalmouth

    goalmouth Well-Known Member

    That's part of it. Also congestion at Asian ports, attacks on Red Sea shipping. But at the core it's the robust US market.
     
    Dog8Cats likes this.
  8. Della9250

    Della9250 Well-Known Member

    Boar's Head plant linked to deadly outbreak broke food safety rules dozens of times, records show
     
  9. Inky_Wretch

    Inky_Wretch Well-Known Member

    There will always be an adjustment period after odious and overbearing governmental regulations are removed from the free market.
     
    garrow likes this.
  10. micropolitan guy

    micropolitan guy Well-Known Member

    "The tree of liberty must be refreshed from time to time with the blood of innocent meat-eating consumers."
     
  11. tea and ease

    tea and ease Well-Known Member

    So what should we be doing now? Where, how do we invest and keep our money? I've learned Mandarin to the extent of Shi Shi and Ne ha Ma.
     
  12. The Big Ragu

    The Big Ragu Moderator Staff Member

    The American consumer that everyone thinks is resilient has been a function of helicopter-dropped stimulus over the last several years. That lifted things (including prices), but it has filtered through, and we aren't actually producing anything. We're just creating government spending that masquerades as something positive "economically," and that has slowed down dramatically, too. Without the "stimulus" . ... On the lower end. ... it's over. Unless we do more of it, print more money like crazy and run up a ton more of government debt and just stuff it into people's pockets, it's over. ... and our ability to keep doing that is not eternal even if they try (which they will).

    This was yesterday. ... It's been the story of retail the last few months. Home Depot on the higher end (people with home equity), dollar stores on the lower end.

    Dollar General stock tanks 32% after outlook cut spurred by 'cash-strapped' customer

    "It appears to us very strongly that ... this lower-end consumer continues to be very much financially strapped, especially as it relates to her ability to feed her families and support her families," CEO Todd Vasos told analysts during the company's earnings call on Thursday morning.
     
    Last edited: Aug 30, 2024
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