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Business, Economics, and Taxes: Eat Cereal for Dinner

LOLOLOL Lutnick is going to have a presser this morning to outline which categories they tariff Canada less.

Can't wait for the self proclaimed best negotiator in the world to blink and get bested by Canada and Mexico by Friday.
 
ScoobyDoo said:
From what was reported the inflation rate is going to go up another 2% this year to 4% and the tariffs are effectively an 1800 tax.

Given that and my losses in my retirement accounts this year is a net loss and I need every year to be net gain for my retirement. I'll probably not be able to retire ever at this point.
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If I remember right, you pulled everything out in 2009 and missed a huge chunk of the rebound in the following years. Stop reacting to daily or even monthly movements when you're doing long term planning. Unless you plan to retire in the next 5 years, stay the course.
 
unofan said:
If I remember right, you pulled everything out in 2009 and missed a huge chunk of the rebound in the following years. Stop reacting to daily or even monthly movements when you're doing long term planning. Unless you plan to retire in the next 5 years, stay the course.
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No, that was not me. I did not pull anything out and did not miss any of the rebound. And I am not pulling anything out now.
 
Russell Jaslow said:
Which was kind of the idea I had. For those of you who haven't flown long distance in a while, like me when I flew to Hong Kong last fall on United (about 11 years after I flew business class to Dubai on Delta), you'll be amazed how much more space on those type of flights are now taken up by business class seats.

BTW, there may already be a decline in demand for business class seats. My company, the fifth largest defense company in the country, changed it's travel policy at the end of last year. Basically, the long flights are now restricted to premium economy class. No longer business class. I wonder how many other companies have been/are doing this as well.
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In recent years I have flown to South Africa and Scotland and yeah, so much better. Domestic flights are claustrophobic unless you are sitting in something like Comfort+ (Delta) or First Class and even that on some planes is trash. International is a dream...
 
Handyman said:
In recent years I have flown to South Africa and Scotland and yeah, so much better. Domestic flights are claustrophobic unless you are sitting in something like Comfort+ (Delta) or First Class and even that on some planes is trash. International is a dream...
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When I was living in Europe and working for two different aerospace/defense companies in Seattle and Irvine, CA, both had the same policy: Business Class only if the flight was more than 10 hours. Guess how long the flight to LAX was? 9.5 hours.

62 round trips to Europe. 1 total leg in business class (from a random upgrade).
 
Russell Jaslow said:
You'll be too late by then if you wait till they actually kill the FDIC. The run would be instantaneous, and to get at the money, you would have to do it in person. Because if you did it online, where would you move the money too? I suppose if you had a foreign bank account already setup, you could do it, but the bank websites would probably be overloaded. And I suspect in minutes, the banks would collapse. I forget the exact figure, but the percentage of money the banks have (and if I remember my regulations, there is a minimum they must have) readily available to the amount they actually have (i.e,, cash vs. what they loaned out) is very small. It won't take much of a run on banks to deplete that cash.
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Yup. If Trump even mentions the FDIC you should start pulling your money then because once it becomes somewhat of a reality to happen the run on the banks will make 2008 look like a drunken night in Vegas. I said as much when that part of Project 2025 became public. Killing the FDIC while also getting rid of regulations will destroy the banking industry even if there isn't a run on the banks.

Half of me thinks they would never do it...but the other half knows how much easier it would be for them to put us on a crypto standard if they do it. Most of the larger banks are heavily invested in crypto so they will be fine and the billionaires will have a field day.

And yeah, as I said nowhere is safe. If the US goes down they drag half the world with them almost overnight. Before the '08 crash China threatened to unload our debt on the open market as a negotiating tool...if Trump keeps up his tariff BS and then starts to screw with the banking/dollar valuation they could easily do it and probably should. It will kill their economy as well but their economy is a manipulated farce anyways and will crash when we do.
 
How many companies are looking at the bottom line on this?

I always figured Business Class was so much because it was all bought with corporate cards and no one really looked at the amounts spent... Why spend the extra $2,000 on a ticket when all it gets is two drinks and a few inches of leg room?
 
LynahFan said:
When I was living in Europe and working for two different aerospace/defense companies in Seattle and Irvine, CA, both had the same policy: Business Class only if the flight was more than 10 hours. Guess how long the flight to LAX was? 9.5 hours.

62 round trips to Europe. 1 total leg in business class (from a random upgrade).
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I have a Delta Card so I get upgraded a lot ;)

My flights were not business (teachers and bartenders dont get business trips) so I am speaking only as a leisure traveler.
 

Jesse D. Jenkins (@jessedjenkins.com)

Tesla sales in Germany dove 76% in February compared with a year earlier. They're down 50% in Norway, 48% in Denmark, 42% in Sweden & 26% in France (though up 20% in UK). Tesla shares are off 40% from December highs, erasing all gains made after Trump's election...
bsky.app bsky.app

Down 76% in Germany
Down 50% in Norway
Down 48% in Denmark
Down 42% in Sweden
Down 26% in France.

(up 20% in UK)

Also their China car is getting killed down almost 50%.

Overall stock has dropped 40% since December
 
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Handyman said:
And yeah, as I said nowhere is safe. If the US goes down they drag half the world with them almost overnight. Before the '08 crash China threatened to unload our debt on the open market as a negotiating tool...if Trump keeps up his tariff BS and then starts to screw with the banking/dollar valuation they could easily do it and probably should. It will kill their economy as well but their economy is a manipulated farce anyways and will crash when we do.
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I said this exact thing to my wife the other day (I used the words if China calls our debt, the USA craters) when we were discussing the crazy things Trump has been doing. When she realized the implications, she was silent for a while. I did say the only thing that is stopping them, is they along with the rest of the world will crater. It's basically the financial nuclear option. But it doesn't mean China might not threaten it. Financial saber rattling and all...
 
RaceBoarder said:
How many companies are looking at the bottom line on this?

I always figured Business Class was so much because it was all bought with corporate cards and no one really looked at the amounts spent... Why spend the extra $2,000 on a ticket when all it gets is two drinks and a few inches of leg room?
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You absolutely have no clue what business class is!
 
Russell Jaslow said:
I said this exact thing to my wife the other day (I used the words if China calls our debt, the USA craters) when we were discussing the crazy things Trump has been doing. When she realized the implications, she was silent for a while. I did say the only thing that is stopping them, is they along with the rest of the world will crater. It's basically the financial nuclear option. But it doesn't mean China might not threaten it. Financial saber rattling and all...
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Yep it is mutually assured destruction...and in any other time I would say there is no chance they would do it because it would kill them. Trump imposing his stupid tariffs on them might force the issue in many ways. If they get to a point where they see no way out anyways (i.e. they see a crash happening) they might as well do it quick and get what they can.

If you really want to think darkly, Europe could play a hand in this as well if this Ukraine nonsense doesn't get fixed. If Trump phucks NATO all bets are off.
 
RaceBoarder said:
I do not...

All I see is something that is 3-8x the cost of the seats I can afford when I travel. So I just assumed it was priced cause someone other than the traveler was picking up the tab.
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Well, yes it is usually because someone else is picking up the tab. Plus rich people.

It is the lay flat seating. So, you can sleep on a bed (albeit a bit small, and tall people might still have an issue with it), along with pillows and blankets. More privacy even when sitting up along with a lot more space. More electronic options and storage space. Sometimes less crowded bathrooms. Way the heck better food. More and quicker attention from flight attendants.

It also includes free entry into the corresponding airlines airport club lounges. First to board (though since you have your own storage space, that's not really a big deal anymore, other than the convenience of not waiting in line for long).

Is it worth it if I had to pay for it? Tough to say. But when somebody else has to pay for it, I swear I'll never fly economy again (until of course, I have to foot the bill, LOL).
 
RaceBoarder said:
I do not...

All I see is something that is 3-8x the cost of the seats I can afford when I travel. So I just assumed it was priced cause someone other than the traveler was picking up the tab.
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I got delta one recently a few days before departure. Logged into app to check seat and was offering me upgrade to delta one for $800 so I snapped that up
 
Deutsche Gopher Fan said:
I got delta one recently a few days before departure. Logged into app to check seat and was offering me upgrade to delta one for $800 so I snapped that up
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$800 is usually equal to or more than the budget for an entire round trip...

The fact that this is "normal" for people around here says a lot about what I've been saying about the income disparity here on USCHO vs the rest of the world.
 
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