Am I misreading this or does this new report contradict the above??
American Economics Thread
- Thread starter Bernard
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Lol, literally published 2 days part on the same news website by the same person.
This is why my name exists.
But anyways, the cut jobs report comes from a payroll processor, ADP, while the job gain report comes from the US Bureau of Labor Statistics.
But yea, they're literally saying opposite things.
Meanwhile in America
muH cOMmOn pRoSpERity
muH cOMmOn pRoSpERity
Meanwhile Bezo's Amazon Prime membership rose from $110 to $180 in a year...
Interesting thing is I buy almost everything online at Amazon, and I exported all my history of purchases into Excel and compared it year on year, and in the last year, for the same goods and products, overall the price went up about 30%.... way more than the 10% official government inflation numbers...
MuH hYpeRInfLaTion!
Sorry, but you're using half truths to make a hyperbolic statement - the 180 is for people paying monthly and they were already paying the equivalent of 155 annualized. For people who have an annual subscription, it's going from 110 to 130.
Its better not to stoop down to the level of American news media by using half truths and partially withheld facts to make a statement.
its already explained in the article itself which i linked to that most Americans are living paycheck to paycheck and cannot afford to pay the amazon prime membership as a lump sum annually and therefore pay month by month, at the monthly payment scedule it did indeed go to $180 usd per year... many who were paying by year are now switching to by month
Full truth
Also last year all "dollar stores" in USA hiked at least 25%, so basic commodities and "cheap stuff" went up by 25% while average wage increase was barely 4%
And costs of big ticket items like houses, cars, etc went through the roof..... even "used cars" price skyrocketed... "used cars" traditionally were the fastest depreciating assets, now how can "used cars" rise rapidly in value? they dont, its the dollar that is losing purchasing power month after month
In the past the tech sector was the only thing that was deflationary in that computers got faster while cheaper at the same time, even that is no longer true. Already 2 years after the debut of Nvidia's rtx3000 series GPUs for example, the only cards one can get is 3x msrp from scraplers on craiglists and ebay... I bought the first dji mavic for $999, the mavic 3 i got last year cost me $4999... back in 2014 I got a top of line nvidia gtx980 for $599 at local Frys, last year I paid $3500 for a similiar state of art rtx3090 and it wasnt at Frys because Frys went belly up
Netflix subscription now tops out past 20 bucks a month, I still remember wasnt that long ago it was 7 bucks a month... wasnt cloud, internet, bandwidth, streaming, storage, etc all supposed to get cheaper and "too cheap to meter"??
The point is hyperinflation is already here, its as they say, a mathematical certainty
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The 180 number is for people paying 155, so the difference isn't as huge. To say it went from 110 to 180 is a bit disingenuous
I see your point but that was the title of the article itself that I referenced. I didnt write the article
A lot of people cancel their subscription as they don't order things from Amazon all that often. I got "Free Prime" once and then paid for like two or three months without using it for anything. I cancelled it and will never get it again even if it is "Free".
This is made worse by the fact these "dollar stores" have replaced traditional retail in most of the USA. Most other stores have closed down. There are plenty of people on Youtube who have videos of dead shopping malls. You don't need to look that hard for it.
Supposedly all of these have the same cause i.e. the semiconductor shortage. Which was caused, IMHO, by the Trump trade war and sanctions on Huawei and SMIC. It messed up the production schedule of the whole smartphone sector for one and it caused a lot of companies in the sector to stockpile chips and equipment like crazy. It messed up everything. I mean semiconductor price increases in some sectors aren't a new thing. I have seen this happen with CPUs and GPUs before. I have seen prices double before when the industry is in a supply crunch. This is particularly notable in the memory sector. But the scalpers is a new thing and it is made easier by online sales. In two years once the new factories come online prices should come back down again.
The content industry (film studios) is steadily increasing the costs to license their product or not licensing it to Netflix at all. Netflix is trying to solve this problem by creating their own content but this has had not so great success thus far.
25%-30% makes a whole lot of sense and eventually prices will double. It does not take a lot of effort to realize this. The price of things will eventually increase by the same amount as the volume of money they printed. If the total amount of goods and people remains the same and the money supply doubles then prices will also double.
I understand that the US (Under the Trump admin, but really like Putin said, US Presidents are figureheads that take orders from others etc) declared war on China with the tariffs, chip sanctions, and other more covert means
Even DJI had to raise the price of their Mavic 2 because of it... about 25% increase a year later!
However Im not sure I buy the whole "car prices going up because of chip shortages" excuse that the government tries to paint.... I mean they also blamed more broadly the inflation and shortages on everything from covid, to delta, to omnicon, to vax hesitancy, to any number of off the wall reasons except for the root cause of the lose of the purchasing power of the dollar (deminishing EROEI affecting the global reserve currency, the hegemonistic US dollar first... printing to BRRR and endless QE is a symptom of the loss of work/productivity multiplier effect of energy as we slide down the slope of global peak energy, not the cause!!)
I mean think about it logically, barely no one has been able to buy a GPU for 3 years now.... a modern GPU has thousands of tiny chips (Nvidia Cuda cores for example) but push comes to shove they would give priority to cars and auto industry instead of the gaming industry.... I mean with Huawei cut off and not being able to fab chips you would think there would be more chips capacity and not less!! Naysayers be like well Huawei is hoarding chips, but what chips? Why cant I buy a p50 if they successfully hoarded a whole bunch of extra chips? But Huawei lost a bunch of 5G contracts because of US pressure campaings. If US can strongarm TSMC and TW to cut off its own brother, you really think the CIA cant make sure that GM and Ford got their chips first?
Or what about the skyrocketing price/costs of US houses? I dont suppose THAT can be blamed on semiconductor shortages too?
Or the fact that grocery stores are perpetually half empty these days with barren shelves?
There is something much deeper and systemic going on here with the US economy and the narrative is to blame the symptoms and look away from the root cause
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