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Business, Economics, and Taxes 2: That's Why We Fight to Take the Means Back

Watching the videos from MAGA celebrating that 40,000,000 people are about to lose the benefits that allow them to eat is depressing. I know the answer, but I wonder if they realize that grocery stores are about to lose 30% of their revenue. Do they suppose the stores are going to absorb that loss? Can't wait to see the videos when prices jump accordingly and they're suddenly paying even more for the food they buy. I wonder how they'll blame it on Biden. Or Obama. Anyone but their precious cult leader.

Meanwhile, the market is up 1.5% overnight. Totally detached from reality.
 
ticapnews said:
Watching the videos from MAGA celebrating that 40,000,000 people are about to lose the benefits that allow them to eat is depressing. I know the answer, but I wonder if they realize that grocery stores are about to lose 30% of their revenue. Do they suppose the stores are going to absorb that loss? Can't wait to see the videos when prices jump accordingly and they're suddenly paying even more for the food they buy. I wonder how they'll blame it on Biden. Or Obama. Anyone but their precious cult leader.

Meanwhile, the market is up 1.5% overnight. Totally detached from reality.
Click to expand...
Farmers also voted to eliminate some of their customers.

These guys are the prime example why "business people" should not run the country. They voted to eliminate a customer that fed people around the world, they voted to eliminate their largest customer (driving them to South America), and they voted to eliminate customers in their own country.

These morons think it's best to not have customers for the product they grow. Brilliant.

Our economy used to be driven by consumers buying stuff built, extracted, or grown by a fellow consumer. Now it's driven by stock speculation.
 
All the rise is because of AI speculation. And AI completely bones the "worker". We're in for a rude awakening. Sad thing is Congress knew this was coming and did nothing about it. Lack of Regulation and lack of building safety nets around what this is going to do is criminal.
 
ticapnews said:
Watching the videos from MAGA celebrating that 40,000,000 people are about to lose the benefits that allow them to eat is depressing. I know the answer, but I wonder if they realize that grocery stores are about to lose 30% of their revenue. Do they suppose the stores are going to absorb that loss? Can't wait to see the videos when prices jump accordingly and they're suddenly paying even more for the food they buy. I wonder how they'll blame it on Biden. Or Obama. Anyone but their precious cult leader.

Meanwhile, the market is up 1.5% overnight. Totally detached from reality.
Click to expand...
AI is beyond bubble territory now...it is legitimately our entire economy. Any setback, even a minor one, is going to be ugly. China should cut us off...and so should Europe since Greenland is the other big deposit of rare earth metals. Starve us out...we will capitulate within a year.

Whats sad is, at least back in the day people didnt really know what was going on unless they were privy to information. The average Rube only knew about their own personal economy. Now we know everything and people ignore facts for vibes. This is no different than in the Ancient World making decisions based on Gods and Superstitions...worked out real well for them!

And even sadder is how no one seems to get how connected everything is. If I am on SNAP (and raking in that sweet sweet $13 a day!!) and it disappears (as you allude to) it isn't just me hurt by this. Every dollar I spend at the grocery store leads to the store spending (IIRC) $1.50+ to keep the shelves stocked. It also allows them to pay workers. They put money in banks. Banks use that money to lend (when I took macro in Grad School we assumed 10-1) which of course leads to further stimulus or ar worst...keeping the status quo. That dollar returns massive amounts...its the perfect stimulus investment.

Thing is...Blue States usually have contingencies that can keep from total collapse. If I lived in a Red State I would brace myself because its going to get ugly. Some like Iowa are already in Recession (Kentucky too I think) and none of this has even started yet. That isn't going to change...but at least SNAP would have helped. The way things are going it won't be the Haitians eating the dogs and cats.
 
Handyman said:
AI is beyond bubble territory now...it is legitimately our entire economy. Any setback, even a minor one, is going to be ugly. China should cut us off...and so should Europe since Greenland is the other big deposit of rare earth metals. Starve us out...we will capitulate within a year.

Whats sad is, at least back in the day people didnt really know what was going on unless they were privy to information. The average Rube only knew about their own personal economy. Now we know everything and people ignore facts for vibes. This is no different than in the Ancient World making decisions based on Gods and Superstitions...worked out real well for them!

And even sadder is how no one seems to get how connected everything is. If I am on SNAP (and raking in that sweet sweet $13 a day!!) and it disappears (as you allude to) it isn't just me hurt by this. Every dollar I spend at the grocery store leads to the store spending (IIRC) $1.50+ to keep the shelves stocked. It also allows them to pay workers. They put money in banks. Banks use that money to lend (when I took macro in Grad School we assumed 10-1) which of course leads to further stimulus or ar worst...keeping the status quo. That dollar returns massive amounts...its the perfect stimulus investment.

Thing is...Blue States usually have contingencies that can keep from total collapse. If I lived in a Red State I would brace myself because its going to get ugly. Some like Iowa are already in Recession (Kentucky too I think) and none of this has even started yet. That isn't going to change...but at least SNAP would have helped. The way things are going it won't be the Haitians eating the dogs and cats.
Click to expand...
Canada has shut off 85 % of liquor from the US and 97% of wine from the US. Kentucky is fucked
 
walrus said:
Canada has shut off 85 % of liquor from the US and 97% of wine from the US. Kentucky is fucked
Click to expand...
It’s been that way for a few months. Another side effect has been almost shut off tourism, and a significant sell off from Canadians in both Arizona and Florida. Which is has been funny for deathsantis- after he claimed that Canadians would pay all of floridas taxes.

But magas are blaming Canada for the trade war- they will never figure it out.
 
A new restaurant opened in my burb a couple weeks ago (bless the couple opening it at this time, poor fools). Among the lulz:

  • $23 for a meatless pasta arribata, but that's OK because it comes with scratchmade naan!
  • $32 for a vegetarian Lion's Mane mushroom "steak" ($4 more expensive than the literal Steak Frites!)

End-stage capitalism is a hell of a ride.
 
MichVandal said:
But magas are blaming Canada for the trade war- they will never figure it out.
Click to expand...

I misread this as mangas and was briefly disoriented.

How severely are upper Michigan and Minnesota being damaged by the tariffs and counter-tariffs? I'd think it was either (1) very painful or, more likely, (2) the locals on each side of the border are getting creative with a new grey economy. Post-war Vienna.
 
Handyman said:
And even sadder is how no one seems to get how connected everything is. If I am on SNAP (and raking in that sweet sweet $13 a day!!) and it disappears (as you allude to) it isn't just me hurt by this. Every dollar I spend at the grocery store leads to the store spending (IIRC) $1.50+ to keep the shelves stocked. It also allows them to pay workers. They put money in banks. Banks use that money to lend (when I took macro in Grad School we assumed 10-1) which of course leads to further stimulus or ar worst...keeping the status quo. That dollar returns massive amounts...its the perfect stimulus investment.
Click to expand...

This has always been the nail in Milton Friedman's coffin. Concentrating wealth at the top doesn't "create jobs" unless you work in the luxury yacht industry. Spreading wealth as evenly as possible is dispersing oil throughout a machine with many working parts. It makes it work much better, whereas starving it causes the machine to seize up and harms everyone, even those who own the motor. Yes, people who need necessities do not save they spend. Good. Their savings continues the circulation of the energy of capital.

Money is dynamic, not static. Wealth concentration is the engine light going on.
 
Kepler said:
How severely are upper Michigan and Minnesota being damaged by the tariffs and counter-tariffs? I'd think it was either (1) very painful or, more likely, (2) the locals on each side of the border are getting creative with a new grey economy. Post-war Vienna.
Click to expand...
Wife and I have talked about a UP return trip next summer. I'm looking forward to witnessing the devastation and desperation.
 
Kepler said:
How severely are upper Michigan and Minnesota being damaged by the tariffs and counter-tariffs? I'd think it was either (1) very painful or, more likely, (2) the locals on each side of the border are getting creative with a new grey economy. Post-war Vienna.
Click to expand...
If they're anything like eastern Maine they're struggling. A typical Sunday morning in a border town was a packed diner with Canadians eating breakfast then doing some shopping at the grocery and maybe a store like Marden's. Now it's a ghost town until locals turn up at bars for the Patriots or Sox games. And because the economy is sluggish, that turnout isn't what it was. And it may be a vocal minority, but it seems like the Canadians aren't planning to come back even after a few years. Border crossings are way down. I saw a report from a Canadian source that showed Canadians coming to Maine was half what it usually is (and he said, "It's still too high!")

This isn't helping
 
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