American Economics Thread

[manqiangrexue]

https://twitter.com/i/web/status/1827728463668863033

the increase in international travel must be because U.S. households are in such financial distress, they can only cope with it by traveling to foreign geographies to relax and learn accounting

1. The world has become much more international so international travel is a much more prominant passtime. Doesn't mean anything to overall life quality. Decades ago, someone might work 40 hours a week at a blue collar job, easily afford a house and 2 cars and spend all their leisure time going to the moves, BBQing, road trips in the US, going to hippie festivals, etc... Now, people work 70 hours a week from rise to sleep just to worry about car payments and mortage/rent then take a 2 week vacation to Europe or something. Doesn't say anything about life quality. I'd say there's a significant increase in passport issuance throughout the world in general simply from the globalization trend.

2. Americans are much more humble now, realizing that there is so much to the rest of the world than at home. At the defeat of the Soviet Union, Americans thought the best of everything was in America. They've come to realize that's not true. I knew this was not true but I didn't realize quite how badly behind the US had fallen until I went to Kazakhstan, expecting to experience old school earthly rich culture but intead seeing many signs of modernity that are absent in the US.

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The U.S. writing China out of the EV software space. What’s more, by making the space for FDI from China to be so toxic, even projects that would otherwise be profitable are now unprofitable due to project delays/litigation/communication strategies, which makes it a positive feedback loop due to the lack of any cohnterbalancing forces in the U.S.-China relationship.

Yup, USA repeating the pattern. Can't compete with China on something? First try to ban China out of it, then end up boxing itself up into a corner as China proceed to take over the rest of the world in that tech.

 

[Index]

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The U.S. writing China out of the EV software space. What’s more, by making the space for FDI from China to be so toxic, even projects that would otherwise be profitable are now unprofitable due to project delays/litigation/communication strategies, which makes it a positive feedback loop due to the lack of any cohnterbalancing forces in the U.S.-China relationship.

US auto industry, including EV, simply remains historically uncompetitive, even if they can delay the entry of Chinese autos into their own market, all it achieves is limiting and weakening car choices for American consumers. Which isn't gonna be helpful during a period of recession.

Trump has already floated the idea of opening up domestic US market to Chinese EVs on the condition they are built in America. Same deal as Toyota got, aka. complete capitulation by US govt. How else will the majority of Americans that make up the middle and lower class have reliable and modern vehicles?

Between these choices, I think Trump's choice is wise and makes sense. It is better to back down than to limit your whole economy in the name of autarky, like the USSR.

 

[manqiangrexue]

US auto industry, including EV, simply remains historically uncompetitive, even if they can delay the entry of Chinese autos into their own market, all it achieves is limiting and weakening car choices for American consumers. Which isn't gonna be helpful during a period of recession.

Trump has already floated the idea of opening up domestic US market to Chinese EVs on the condition they are built in America. Same deal as Toyota got, aka. complete capitulation by US govt. How else will the majority of Americans that make up the middle and lower class have reliable and modern vehicles?

Between these choices, I think Trump's choice is wise and makes sense. It is better to back down than to limit your whole economy in the name of autarky, like the USSR.

Yes but China should definitely reject his request. Building mega-factories is a matter of years worth of work and billions of dollars in investment, not the mention the sensitive technology you have to expose. Seizing those factories or forcing a sale for pennies on the dollar is a matter of a pen stroke in the name of "National Security."

Let Americans drive gas guzzlers that sound like an old lady's diarrhea everytime they rev the engine or monstrosities like the Cybertruck. Chinese cars are too good for them.

 

[TK3600]

Yes but China should definitely reject his request. Building mega-factories is a matter of years worth of work and billions of dollars in investment, not the mention the sensitive technology you have to expose. Seizing those factories or forcing a sale for pennies on the dollar is a matter of a pen stroke in the name of "National Security."

Let Americans drive gas guzzlers that sound like an old lady's diarrhea everytime they rev the engine or monstrosities like the Cybertruck. Chinese cars are too good for them.

Give them assembly plants only. Stuff that provides enough unionized labors for political power, but minimal risk for seizing.

 

[tokenanalyst]

Interests rates in the US are not coming down anytime soon without a big economic correction, the FED is trapped.​

 

[HighGround]

Most accurate post of "vibes" I've ever seen. Like I've said before, especially as someone who grew up in a poor family, I've never been particularly interested in validating poor decision making of poor and middle class people. The government should help and make things easier, but the things people advocate for are genuinely insane.

United States could have a budget surplus tomorrow if it wanted to, but there's no political will for common sense solutions.

 

[zbb]

 

[FriedRiceNSpice]

I’ve known several people personally (Caucasian, black, and Chinese) who have been out of a job for more than 14 months. One of them I only know because he has gotten so desperate that his dad is asking literally everyone he knows for help. I didn’t know his dad but my dad is friends with his dad’s friend. Before any of you claim that he has no tech skills or something let me remind you that he has seven years of experience at a FAANG company prior to layoff. He is not only open to five days in the office but also to moving to a different state in case of an opening.

Is he a software engineer? You should advise him to set his sights a little lower and expand his search. Not a good time to be looking for jobs in FAANG, but lots of other companies are still hiring software engineers right now. The compensation may be quite a bit lower, but 200-250k as a senior engineer at a non-FANG is much preferable to zero. Been a horrible job market last two years for big tech.

 

[siegecrossbow]

Is he a software engineer? You should advise him to set his sights a little lower and expand his search. Not a good time to be looking for jobs in FAANG, but lots of other companies are still hiring software engineers right now. The compensation may be quite a bit lower, but 200-250k is much preferable to zero. Been a horrible job market last two years for big tech.

He is setting his sights low. Anything is fine.

 

[FriedRiceNSpice]

He is setting his sights low. Anything is fine.

Well if doesn't mind relocating, any big bank in New York would hire ex-FAANG Senior SWE after about a 30second interview. Do you know what his specialty is?