Zombie The Coronavirus Financial Thread (Personal, Local, National)

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tlongII said:
Bummer. I think they’re making a mistake with that. Quality video is more important than ever right now in my opinion.
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I almost always go for quality over anything else. It never disappoints in the long run.
Yes, they are making a huge mistake although it's my conviction that it's more important in basketball than in soccer. However, it's important to some degree or other in all sports.
 
US trade deficit surges in July to highest in 12 years
for the guy who's economic policies attacked trade deficits and was going to renegotiate much better ones for the US, seems like a miss in that regard.
The goods deficit with Mexico hit a record high of $10.6billion in July. Trump has claimed the new free trade deal he has negotiated with Mexico and Canada will be a boon for American workers and businesses.

https://apnews.com/dd93ecd3cafc5df88a8f9f4a61693b07
 
this should tell everyone that it is going to be a very long haul for economic recovery in the USA.

https://www.cnbc.com/2020/09/16/yel...e-coronavirus-pandemic-are-now-permanent.html

Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanent

Key Points
  • Yelp on Wednesday released its latest Economic Average report, revealing business closures across the U.S. are increasing as a result of the coronavirus.
  • As of Aug, 31, 163,735 businesses have indicated on Yelp that they have closed, a 23% increase since mid-July.
  • According to Yelp data, permanent closures have reached 97,966, representing 60% of closed businesses that won’t be reopening.
 
THE HCP said:
This would be good for my kids to learn some lessons on finance and maybe build their credit at the same time.
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What, financing consumer goods is stupid?

I saw that they are financing shoes and clothing now. Affirm pay or some shit.

Just have them get a CC and make sure they don't miss payments and keep their balances under 30% utilization, that should be good enough.

Although they probably shouldn't even worry about that until they are working in the real world. Its too tempting for college kids, God i know I ran my student visa up like crazy
 
Everything seems more expensive. Haircut went from 30 to 40 bucks.

Food at local breakfast spot 30% increase
 
EL PRESIDENTE said:
Everything seems more expensive. Haircut went from 30 to 40 bucks.

Food at local breakfast spot 30% increase
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Buy food stamps on the black market.

Haha I actually have a quirky friend who I’ve known since elementary school who does that. Gets them for 60% of their worth.
 
trickle down economics my ass.

upload_2020-9-22_4-54-15.pngThe richest one-tenth of Americans owned more than two-thirds of the nation’s wealth, according to Fed data through the end of March, the latest period for which figures are available. The top 1% owned 31%.

look closely at the top chart. that tiny thin red line at the very bottom represnts the bottom HALF of this nation's population and the tiny share of its ownership of the wealth in the richest country on earth. lots of good info here. or bad. a country of haves and have nots . i wonder if has become as top heavy as pre revolution france?

Soaring wealth during pandemic highlights rising inequality
https://apnews.com/28a44dd1a025d9b9af5a8d4ff8c5a033
 

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lawai'a said:
trickle down economics my ass.

View attachment 33646The richest one-tenth of Americans owned more than two-thirds of the nation’s wealth, according to Fed data through the end of March, the latest period for which figures are available. The top 1% owned 31%.

look closely at the top chart. that tiny thin red line at the very bottom represnts the bottom HALF of this nation's population and the tiny share of its ownership of the wealth in the richest country on earth. lots of good info here. or bad. a country of haves and have nots . i wonder if has become as top heavy as pre revolution france?

Soaring wealth during pandemic highlights rising inequality
https://apnews.com/28a44dd1a025d9b9af5a8d4ff8c5a033
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The experiment in capitalism has failed.
 
illmatic99 said:
The experiment in capitalism has failed.
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We haven't had free market capitalism for a LONG time. The creation of the FED has skewed the economy. All the unemployment and inflation statistics are highly manipulated.

The sad part of all this, is the United States is financially insolvent. Things are likely going to get a lot worse across the board in the next 5-10 years as the dollar begins to loose the 'reserve' currency status.
 
tester551 said:
We haven't had free market capitalism for a LONG time. The creation of the FED has skewed the economy. All the unemployment and inflation statistics are highly manipulated.

The sad part of all this, is the United States is financially insolvent. Things are likely going to get a lot worse across the board in the next 5-10 years as the dollar begins to loose the 'reserve' currency status.
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yup good thing we cut taxes for the corporations and the rich folk. bought back there own stock for the most part with the windfalls of that and repatriating there cash reserves from overseas profits without paying their fair share., kept there to avoid paying taxes.
 
EifWfYtWsAA3iKh.jpg

Glad to see two young entrepreneurs start from nothing to build a million dollar business. They landed a lucrative contract with Quicken Loans, which one of the young men's father, Dan Gilbert owns.
 

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Theater chain's 'massively successful' COVID-19 strategy: You buy every seat

Alamo Drafthose patrons rent an entire theater for their pod of family and friends in new pandemic business model that's gaining momentum.

https://ew.com/movies/alamo-private-theater-covid/
It's the ultimate moviegoing social distancing strategy: One buyer, one theater.
The Texas-based theater chain Alamo Drafthouse is rolling out a nationwide program where patrons rent out an entire theater for themselves – along with their pandemic pod family and friends – for $150.
The move expands on the test run of the program that's now expanding to 12 states.
"After a massively successful rollout in select cities we’re excited to be able to offer this at Alamo Drafthouse theaters nationwide that are currently open," says Shelli Taylor, a former Starbucks executive who took over as Alamo Drafthouse CEO in April. "Our guests have been asking how their friends, family, and fellow podmates can book their own safe and relaxing screening, and we’re proud to be able to deliver this to them at such an affordable rate."
While $150 might sound like a steep price, but the cost comes down quickly if you have enough trusted family and friends in your group. According to an Alamo spokesperson, the average rental group is 10 people.

 
https://seekingalpha.com/amp/article/4376310-nordstrom-department-store-retail-is-tough-business

Nordstrom: Department Store Retail Is A Tough Business

Summary
  • Nordstrom's stock price reached a new 52-week low this week, as growth doubts for the U.S. economy have reappeared.
  • Excessive debt/leverage/rents and negative cash flow may require a business reorganization in the next 6-12 months.
  • Ultra-weak equity trading momentum and underperformance of the retail sector may continue for some time.
 
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