American Economics Thread

[Bellum_Romanum]

I don't know.

I don't think anything has changed here brother. That is how it is in Toronto. People in Toronto think if it did not happened here, then it did not happen, like that nothing happened. It may have happened somewhere in the Great White North, but like, who cares.

It is like Toronto is the coast, and everywhere else is the flyover country, to use an American analogy.

The trucker thing is like someone else's problem.

Not even sure what that trucker thing is all about. Sound likes a bunch of snowflakes decided to drive a truck up someone's ass, and the snowflake prime minister had some sort of meltdown.

That is Trudeau's problem. He is not good at being serious.

He is good at taking his shirt off.

But when the crap hits the fan, Trudeau wilts, he is an intellectual lightweight and a political nobody, who is living off his father's name.

Harper was a good prime minister. But he acted like a bitch, so no one likes him either.

Here is a picture of Trudeau with his shirt off.

I am sure pictures like this helped him get elected.

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I got stuck behind the "Freedom convoy" at Hghway 400 during it's initial stages which was back in Toronto. Some Canadians and I think just western people in general are quite fragile in terms of their actual thinking, belief in their political system let alone social cohesion. They readily assume that "communism" will swallow the country just as they believed that "Islamic terrorists" would have done so back when "Islamic terrorism" was topic du jour.

Take communism for example, for Canada to become a communist country means that it first needs to become a viable party, win local and provincial elections, and then be able to elect member of parliament (MP) to Ottawa as a Federal Party. If that scenario would ever become possible then that means enough Canadians regardless of race, creed, and religion voted for such a party which means it's LEGAL AND WITHIN THE LAW and if Canada is governed under a communist party because Canadians voted for such a party. The same logic applies to the nonsense of Canada becoming an Islamic paradise which is just plain NUTS.

 

[horse]

I got stuck behind the "Freedom convoy" at Hghway 400 during it's initial stages which was back in Toronto. Some Canadians and I think just western people in general are quite fragile in terms of their actual thinking, belief in their political system let alone social cohesion. They readily assume that "communism" will swallow the country just as they believed that "Islamic terrorists" would have done so back when "Islamic terrorism" was topic du jour.

Take communism for example, for Canada to become a communist country means that it first needs to become a viable party, win local and provincial elections, and then be able to elect member of parliament (MP) to Ottawa as a Federal Party. If that scenario would ever become possible then that means enough Canadians regardless of race, creed, and religion voted for such a party which means it's LEGAL AND WITHIN THE LAW and if Canada is governed under a communist party because Canadians voted for such a party. The same logic applies to the nonsense of Canada becoming an Islamic paradise which is just plain NUTS.

Yeah, I know exactly what you are talking about man!

However, as the years roll by, and we get older, I realized I still do NOT have a reply to that.

The Occupy Wall Street Movement did it for me, and I gave up after that.

There were people sitting in their lawn chairs in the park, protesting. Yet, they had no clue about what they were protesting about.

None.

Some vague ideas.

Well, they at least knew that someone made out better these last three decades, and it was not the average working person.

Beyond that they had no clue.

To make it a oversimplified story for this post, it is just how the world economy and the financial system is organized that lead to this outcome. In fact, it was deliberate.

But those people in the park sitting on their lawn chairs, had no clue how this process worked, and could not do anything about it.

In Marxist terms, this I would consider to be oppression, a light-handed way, which ensures the desired outcomes for the bourgeoisie class. It is not heavy-handed, such as the "I can't breath guy," so Canada does not erupt in riots. Still the oppression is there, no empowerment for those protestors (no clue more like it, lol), and worst of all, essentially no means to fight back.

Try fighting back living pay cheque to pay cheque.

Okay, gotta stop.

Beginning to rant again!

LOL!

 

[tokenanalyst]

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[Coalescence]

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Yabai. Japan selling US treasury and bonds.

 

[supersnoop]

Is there any way to actually quantify how America's own sanctions are contributing to their own inflation and economic downturn?
1. War in Ukraine has impacted global food and energy prices by diminishing supply of crude, LNG, fertilizer, grain
2. Sanctions against Xinjiang reducing supply of cotton
3. Sanctions and Tariffs (have they all expired?) on semiconductors reducing supply of electronics

Just by simple observation, I have seen that there is still an extremely constrained supply of automobiles.
Cotton shirts have gone up in price by 30%.
Gas price is up 30%
How much longer can America allow their geopolitical strategy to clash with their economic power?

 

[Overbom]

Is there any way to actually quantify how America's own sanctions are contributing to their own inflation and economic downturn?
1. War in Ukraine has impacted global food and energy prices by diminishing supply of crude, LNG, fertilizer, grain
2. Sanctions against Xinjiang reducing supply of cotton
3. Sanctions and Tariffs (have they all expired?) on semiconductors reducing supply of electronics

For their wider strategic goals, they are willing to suffer.
1) Destroying Russia economically
2) (failed) to destroy Xinjiang
3) Seemed to be a short term win but has backfired

How much longer can America allow their geopolitical strategy to clash with their economic power?

We will see. I reckon that the US has such deep pockets that they can still withstand these shocks. However, the margin is increasingly becoming thinner. They should be careful because you never know if they miscalculate and end up collapsing their economy.

 

[supersnoop]

For their wider strategic goals, they are willing to suffer.
1) Destroying Russia economically
2) (failed) to destroy Xinjiang
3) Seemed to be a short term win but has backfired


We will see. I reckon that the US has such deep pockets that they can still withstand these shocks. However, the margin is increasingly becoming thinner. They should be careful because you never know if they miscalculate and end up collapsing their economy.

I wonder if the Xinjiang thing is more for Western audiences or to cause internal turmoil. I never really thought the latter was realistic because there isn't enough turmoil with the economic investment in recent times.

That aside, opening up after Covid was supposed to provide a nice economic boost, a lot of people being hired, shortage of labour. However, all of those possible regains have basically been flushed down the toilet.
Can't sell cars that aren't available.
Can't sell washing machines that are out of stock.
Regular people who were supposed to benefit from the labour shortage are struggling because any wage gains have been swallowed up by inflation especially basic clothing and gas.

 

[chlosy]

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Yabai. Japan selling US treasury and bonds.

Hope to see China selling as well. Lose some money now, or lose huge pile later.

 

[Overbom]

Its 3% now

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US 10-year Treasury yield reaches 3% for first time since 2018​

Fed policymakers face a ‘thick stew of uncertainties’ as they decide how much to raise rates

The yield on the government bond has profound effects on the economy, feeding into home mortgage rates and borrowing costs for companies. The higher yield, which rises when bond prices fall, is tightening financial conditions after two years of the coronavirus pandemic.

 

[gelgoog]

It is the Fed's attempt to curb inflation down. It has been increasing like crazy.
After all that money printing for COVID-19 handouts, BBB, and now tens of billions into Ukraine, they had to do it.
I expect the stock market to continue to crash as a result. And some zombie companies might start to creak.
But this is long overdue I think.