The economy started collapsing in 2007, but no one really noticed until 2008 (except those who shorted everything and made it big). There are people holding onto their big-silicon shorts right now hoping for a similar payoff. Last year, Intel cut over 80,000 people over the course of several layoffs. I think it's pretty clear the economy has already collapsed and we're not facing that reality just yet, at least not until the big silicon bubble pops.
All the quarterly earnings reports start coming out 28th
Of course is will be, and rightly so. Those dumb-ass tariffs are hollowing out small businesses, that's why you do not see the impact on Wall Street. Small business do not list on Wall Street. Many of those businesses relied upon stuff from China which now costs more. Added to that, the steel and lumber tariffs that go into many goods the U.S. produces (and it still produces a lot) are raising the prices of finished goods. The export driven farm economy is going down because his dumbass tariffs have caused
And even if new American companies learn to make them efficiently, they only have to undercut the foreign competition on price by a little bit. The proles will still take it in the neck. If you look at the jobs stats
That's really the rub. Even if the manufacturing came back, which I agree it wouldn't, the jobs still wouldn't because automation has increased a hell of a lot over the last few decades. We could bring 100% of the manufacturing back and it wouldn't solve unemployment.
Part of it isn't, but part of it absolutely will be.
Usually I have been fairly dismissive that happenstance of economic swings one way or the other are blamed or credited to the current president. Good or bad, democrat or republican. There are policies with longer term implications that can set a broad tone, but the dramatic events tend to be associated with private sector happenings.
This time the administration chose to stomp on international trade, and that has real consequences. The dollar has taken a
This advances the earlier story. The earlier story, which I have linked to in this story, talked about Amazon prematurely acknowledging some layoff -- it didn't say how many roles would be cut and its scope only included the cloud unit. Today's story is an on-record statement from the company, which also talks about the size of the layoff.
All the quarterly earnings reports start coming out 28th
Of course is will be, and rightly so. Those dumb-ass tariffs are hollowing out small businesses, that's why you do not see the impact on Wall Street. Small business do not list on Wall Street. Many of those businesses relied upon stuff from China which now costs more. Added to that, the steel and lumber tariffs that go into many goods the U.S. produces (and it still produces a lot) are raising the prices of finished goods. The export driven farm economy is going down because his dumbass tariffs have caused
And even if new American companies learn to make them efficiently, they only have to undercut the foreign competition on price by a little bit. The proles will still take it in the neck.
If you look at the jobs stats
That's really the rub. Even if the manufacturing came back, which I agree it wouldn't, the jobs still wouldn't because automation has increased a hell of a lot over the last few decades. We could bring 100% of the manufacturing back and it wouldn't solve unemployment.
Part of it isn't, but part of it absolutely will be.
Usually I have been fairly dismissive that happenstance of economic swings one way or the other are blamed or credited to the current president. Good or bad, democrat or republican. There are policies with longer term implications that can set a broad tone, but the dramatic events tend to be associated with private sector happenings.
This time the administration chose to stomp on international trade, and that has real consequences. The dollar has taken a