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Posted on 1/18/21 at 11:23 am to Kraut Dawg
quote:
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?
1. Q3 is where we saw impact of the last stimulus. Q1 is where we will see it for the round. Q2 for the next.
2. More businesses will be reopening, more cities/states will be removing restrictions by early Q2.
Posted on 1/18/21 at 11:25 am to auggie
1/3 of the middle class will disappear within a year and slip into poverty due to chronic unemployment and inflation. But, the poors will be given an occasional government check and maybe free Obamacare 2.0.
As a middle classes who will endure and prosper, I am happy about no longer needing to tip those who serve me because they now make $15. Per hour. My $20 cheese burger will be delicious.
But, they voted in mass for this change and I hope they enjoy the result.
As a middle classes who will endure and prosper, I am happy about no longer needing to tip those who serve me because they now make $15. Per hour. My $20 cheese burger will be delicious.
But, they voted in mass for this change and I hope they enjoy the result.
Posted on 1/18/21 at 11:25 am to Aubie Spr96
Worse news: When all these illegals are made "legal", and thousands more pour into the country, they'll be the ones taking those $15/hr jobs. Great news for these soon be to new "Americans". What will you idiot biden supporters going to do? Live off your ubi? LOL
Posted on 1/18/21 at 11:28 am to boxcar willie
My god you’re a moron. You think that entry level workers with no marketable skills will suddenly be able to service and maintain automated systems?
And that it would require more than one person?
And that it would require more than one person?
Posted on 1/18/21 at 11:28 am to Dawgfanman
Right, so minimum going from 7.50 to 15 at 25% labor cost means 4 dollar burger going to 4.50 at a minimum.
Posted on 1/18/21 at 11:29 am to AUstar
quote:
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.
Some will, but some will start realizing how things went south. Young people never believe what they are warned about. It takes hard lessons. Those who have never lived through a real bad recession and needed to earn a living, like the way it was back in the Carter administration, when even big stores and even burger chains were closing stores, hotels closing, etc. No jobs to be found. I have lived through that. It sucked.
Posted on 1/18/21 at 11:29 am to mightyMick
This is the “Roaring 20s” all over again. The bad part comes next decade and a half.
Posted on 1/18/21 at 11:29 am to auggie
quote:
Luckily, we live in the middle of nowhere and almost never eat out.
But that won't keep you immune from the rising cost of everything else if minimum wage and fuel prices increase. That's where it hits home.
Posted on 1/18/21 at 11:35 am to Chief One Word
quote:
But that won't keep you immune from the rising cost of everything else if minimum wage and fuel prices increase. That's where it hits home.
Oh, that's a fact, we will definitely be impacted. These are the times when people need every skill and hack that they have, to help themselves. I've always been a tightwad, and hopefully that will help me some.
Posted on 1/18/21 at 11:37 am to auggie
Hate to break it to you.
They don't work.
They don't pay taxes.
They have no idea how income is generated.
They think it is the government's job to take care of them.
They don't work.
They don't pay taxes.
They have no idea how income is generated.
They think it is the government's job to take care of them.
Posted on 1/18/21 at 11:39 am to Dawgfanman
(no message)
This post was edited on 1/20/21 at 10:30 am
Posted on 1/18/21 at 11:42 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.
Actually you will see employment at fast food places drop as they stop at counter ordering and go to kiosks. They will also be automating much of the cooking process so there will not be as large a need for people in the kitchen.
They will have reduce the number of employees so they dont have to raise the price of a burger combo from $8 to $12, because the number of people who are willing to spend $12 for a Big Mac is much lower.
Posted on 1/18/21 at 11:44 am to Dawgfanman
quote:Where do you get this? Tons of small businesses have closed for good. Unemployment is still high. Millions of people are behind on bills and mortgages from being unemployed or having their incomes reduced due to all the covid shutdowns. If the economy is going to recover, it'll take a lot longer than 5 months for people to get caught up on debt and get back to normal consumer spending.
No we arent. We will, by June, see a massive increase in consumer spending.
Posted on 1/18/21 at 11:45 am to ninthward
quote:
Hate to break it to you. They don't work. They don't pay taxes. They have no idea how income is generated. They think it is the government's job to take care of them.
Yeah, you are preaching to the Choir. I know that's the situation, I was just posting that info, for the ones that haven't figured it out for themselves yet. Getting them prepared for what they thought they wanted. Irish curse and all that.
Posted on 1/18/21 at 11:47 am to alphaandomega
quote:
Actually you will see employment at fast food places drop as they stop at counter ordering and go to kiosks. They will also be automating much of the cooking process so there will not be as large a need for people in the kitchen.
Thats just called progress. As one industry gets left in the dust of history another one opens and life just gets easier for all of us. Even the poorest American lives an easier cushier life than even the upper middle class of just even 100 years ago
Posted on 1/18/21 at 12:02 pm to boxcar willie
quote:
Thats just called progress. As one industry gets left in the dust of history another one opens and life just gets easier for all of us. Even the poorest American lives an easier cushier life than even the upper middle class of just even 100 years ago
Do you know what's become different? It use to be, that when new technology replaced some workers, it created new jobs, because the new technology was actually built here, by American workers. Now, that new shite will be built in China, and they will have their own installation and service teams.
Posted on 1/18/21 at 12:04 pm to boxcar willie
Who attempted to teach you economics???
Posted on 1/18/21 at 12:06 pm to auggie
Due to rising prices I see the day coming soon where families will have to sit down every few months and see what they can do without.
Posted on 1/18/21 at 12:07 pm to Dawgfanman
quote:
We will, by June, see a massive increase in consumer spending.
Based on what? Dementia man good?
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