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re: Biden voters who are poor, I've got good news and bad news:
Posted on 1/18/21 at 11:02 am to Bandit1980
Posted on 1/18/21 at 11:02 am to Bandit1980
quote:
Explain, in detail, why you say this?
It’s not me saying it. Every economist around, damn near, agrees that once we “reopen” and as the world reopens we are going to go back to normal spending levels. Savings rates have been thru the roof.
Just for myself. I’ve worked from home for 9 months now. My kids have been stuck home for much of that.
I went from spending:
75 a week on food/etc during office days to about 25 a week.
40 a week on gas to 10 a week.
20 a week on parking to zero.
That’s 5000 or so a year taken “out of the economy”. Add in the 11,000 or so the govt will have sent my family by then in 3 payments.
I’m a middle class guy with a wife and kids. There are millions like me. I can’t fricking wait to get out of here. I’m gonna go on the most baller vacation of my life.
Then there are the poor who will spend all that damn money. And those that’ll fill jobs to service all the pent up demand.
Not to mention the other money the govt is pumping in. Trump told us all the truth, when the economy “opens” we are going to grow like no one has ever seen. Will this be long term? No, but we are absolutely not headed to recession in the short or medium term.
It’s a giant balloon and it’s got more room to be pumped up before it bursts.
2
Posted on 1/18/21 at 11:05 am to Double Oh
quote:$8 12 oz beer, F the NFL.
shite that’s what it was if you went to a MLB or NFL game them people got that
Posted on 1/18/21 at 11:05 am to Aubie Spr96
quote:
I'm not surprised by how dumb the low income voter is. However, I'm shocked by how ignorant our political leadership is. While the high school dropout, convicted felon may not understand basic economics, it's sad that our 'economic' leadership does not either.......
One thing I see happening, many young people will get desperate and join the military, because it's their only option. Then when the MIC feels like they have plenty of disposable warm bodies, they will find a nice little war that needs fighting.
Posted on 1/18/21 at 11:07 am to boxcar willie
quote:
Walmart, burger King, Micky D, arent going anywhere. They may raise their prices but they are still going to need people to cook up and serve those fries. Walmart is still going to need people to stock those shelves. Hotels are still going to need people to wash the sheets and clean the rooms. Life will still go on, just that people who use to make $10-12 will be making $15. It's better to work 30 hours a week at $15 an hour than 40 at $10 so even if they get their hours cut, still going to make about the same and work less hours.
Posted on 1/18/21 at 11:07 am to Bandit1980
quote:
Explain, in detail, why you say this?
for one we will probably work out a trade deal with china where we will lower the tariffs. Plus pent up demand from this covid situation as it comes under control and the economy kicks back up
Posted on 1/18/21 at 11:08 am to Dawgfanman
Posted on 1/18/21 at 11:08 am to boxcar willie
quote:
It's better to work 30 hours a week at $15 an hour than 40 at $10 so even if they get their hours cut, still going to make about the same and work less hours.
What will the price of goods and services do? If the price of goods and services go up, and their income remains about the same, their purchasing power is now reduced.
Posted on 1/18/21 at 11:10 am to boxcar willie
quote:
Walmart, burger King, Micky D, arent going anywhere. They may raise their prices but they are still going to need people to cook up and serve those fries. Walmart is still going to need people to stock those shelves. Hotels are still going to need people to wash the sheets and clean the rooms. Life will still go on, just that people who use to make $10-12 will be making $15. It's better to work 30 hours a week at $15 an hour than 40 at $10 so even if they get their hours cut, still going to make about the same and work less hours
There is a solution for that....one that won't abuse covid lockdowns or call their manager racist or get angry when someone orders a plain hamburger...
Posted on 1/18/21 at 11:11 am to boxcar willie
quote:
for one we will probably work out a trade deal with china where we will lower the tariffs. Plus pent up demand from this covid situation as it comes under control and the economy kicks back up
You are the gift that keeps on giving!Posted on 1/18/21 at 11:13 am to RaginCajunz
I would like to know how much the cost of labor figures into the cost of a Big Mac? If you have that you can make good guess as to how much a Big Mac will go up in price. But you also have to figure how much the cost of your supplies will go up.
Posted on 1/18/21 at 11:15 am to Dawgfanman
quote:
It’s a giant balloon and it’s got more room to be pumped up before it bursts.
The end is just about to be untied.
Posted on 1/18/21 at 11:15 am to Bulldogblitz
quote:good, that means higher paying jobs will pick up. Someone has to design, install, and maintain all that automation.
here is a solution for that....one that won't abuse covid lockdowns or call their manager racist or get angry when someone orders a plain hamburger...
Posted on 1/18/21 at 11:16 am to auggie
Common sense and being a Democrat don't mix very well.
Posted on 1/18/21 at 11:16 am to Dawgfanman
quote:
We will, by June, see a massive increase in consumer spending.
For consumer spending, 3Q 2020 saw a 28% increase while 4Q 2020 saw only about 2%.
Which economic indicator are you reading to make that prediction for 2Q 2021?
Posted on 1/18/21 at 11:18 am to boxcar willie
Again
quote:
What will the price of goods and services do? If the price of goods and services go up, and their income remains about the same, their purchasing power is now reduced.
Posted on 1/18/21 at 11:19 am to mauser
quote:
I would like to know how much the cost of labor figures into the cost of a Big Mac? If you have that you can make good guess as to how much a Big Mac will go up in price. But you also have to figure how much the cost of your supplies will go up.
Labor costs for McDonalds are about 25-30% of operating costs. Don’t forget the increased costs on all other levels.
Posted on 1/18/21 at 11:19 am to boxcar willie
quote:
good, that means higher paying jobs will pick up. Someone has to design, install, and maintain all that automation.
It won't be the people who are hoping for a 15 buck per hour minimum wage. It will be the people who are already earning good money who have those jobs. The people who don't already make more than 15 bucks per hour, don't have any skills. None. Let's face it, if you can't keep a shake machine working, you aint installing any fricking robots and programming them.
Posted on 1/18/21 at 11:21 am to boxcar willie
quote:
good, that means higher paying jobs will pick up. Someone has to design, install, and maintain all that automation.
It won't be the guy that only has aspirations for serving you partially cooked fries and a burger that you didn't order.
Posted on 1/18/21 at 11:22 am to Dawgfanman
quote:Why is that? Tell me one thing that looks that way?
We will, by June, see a massive increase in consumer spending.
Posted on 1/18/21 at 11:22 am to auggie
All of this is true, but you know what's going to happen. They will blame OMB for the failure of an economy we will have. Just like they tried to take credit for Trump's record breaking economy.
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