The State of the Economy Thread - “Falling inflation, rising growth give U.S. the world’s best recovery”

[Hersh]

Tesla is a great example of the market being bat **** crazy. That company is now worth over $200 billion. I love the company but even with have one or two profitable quarters last year, they still lost almost $800 million for the year. They will probably continue to sell shares to shore up their balance sheet but damn, it's just crazy to me how we value companies that don't turn profits. 

 

I do get that the technology is amazing and that's where some of the value is but being worth more than than toyota?

[Cooked Crack]

 

 

Why didn't anyone think of this first?

[visionary]

 

 

[Warhead36]

I do think we need to focus on retraining for some of the people who work in dying industries(i.e. coal miners)but the timing is awful and its something that should have been addressed years ago, not now in the midst of a pandemic.

[BatteredFanSyndrome]

29 minutes ago, Warhead36 said:

I do think we need to focus on retraining for some of the people who work in dying industries(i.e. coal miners)but the timing is awful and its something that should have been addressed years ago, not now in the midst of a pandemic.

As someone who lives 5 mins into WV, but not near the coal area, the voices of coal are still loud and clear.  The state won't let it go and wanted nothing to do with anything that would.  What's sad is this state will still vote Trump even though his promises of reviving the industry here were empty.

[TheDoyler23]

On 7/14/2020 at 11:31 AM, BatteredFanSyndrome said:

As someone who lives 5 mins into WV, but not near the coal area, the voices of coal are still loud and clear.  The state won't let it go and wanted nothing to do with anything that would.  What's sad is this state will still vote Trump even though his promises of reviving the industry here were empty.

 

Yea, Hillary Clinton wanted to devote a couple dozen BILLION to training and retraining workers in dying industry. She was attacked for trying to put them out of work. 

 

What has Trump done in the past 3.5 years? Allowed the owners of that industry to pollute more? 

[China]

On 7/14/2020 at 7:58 AM, visionary said:

 

 

 

I believe the term is "Sugar Daddy."

 

https://www.seeking.com/sugar-daddy

[PleaseBlitz]

7 hours ago, TheDoyler23 said:

 

Yea, Hillary Clinton wanted to devote a couple dozen BILLION to training and retraining workers in dying industry. She was attacked for trying to put them out of work. 

 

What has Trump done in the past 3.5 years? Allowed the owners of that industry to pollute more? 

And also failed to keep the coal industry from dying. 
 

https://www.eia.gov/todayinenergy/detail.php?id=37692

 

So, to recap, no job training...and no jobs. Good luck coal miners!

Edited July 17, 2020 by PleaseBlitz

[Cooked Crack]

 

 

[Llevron]

It’s gonna get bad. This mixed with all the other mess that this county is doing is going to boil over. And the President is going to make it worse cause he thinks it’s going to help him. 

[Cooked Crack]

 

 

 

 

Edited July 23, 2020 by Cooked Crack

[Renegade7]

Internet has homework to do in making "Mitch better have my Money" remix of Rhianna's song.

 

"Pay me what you owe me!!!"

 

 

[dfitzo53]

Pretty sure protests only work on people that still have souls.

[Cooked Crack]

 

[The Evil Genius]

I mean its not like California alone is the 5th or 6th largest economy in the world...🤦‍♂️

[CobraCommander]

Those 4 states make up 30% of our nations GDP

[China]

But wait, there's more!

 

How the eviction crisis across the U.S. will look

 

On Friday, the federal moratorium on evictions in properties with federally backed mortgages and for tenants who receive government-assisted housing expired. The Urban Institute estimated that provision covered nearly 30% of the country’s rental units.

 

White House economic adviser Larry Kudlow said on Sunday that he would extend that moratorium, but these tenants are now unprotected from eviction. At the same time, some 25 million Americans will stop receiving the $600 weekly federal unemployment checks by July 31. 

 

And most of the statewide eviction moratoriums are winding down.

 

The proceedings have resumed in more than 30 states.The moratorium in Hawaii and Illinois end this week, and in August, evictions will pick up in New York and Nevada. 

 

By one estimate, some 40 million Americans could be evicted during the public health crisis. 

 

“It’s like nothing we’ve ever seen,”  said John Pollock, coordinator of the National Coalition for a Civil Right to Counsel. 

 

In 2016, there were 2.3 million evictions, Pollock said. “There could be that many evictions in August,” he said. 

 

 

Click on the link for the full article

[Mr. Sinister]

Good luck to all. Dark times are ahead.

[Sacks 'n' Stuff]

Yeah but the stock market is up. Huzzah!

[Hersh]

1 minute ago, Sacks 'n' Stuff said:

Yeah but the stock market is up. Huzzah!

 

I almost posted this LOL

 

Just buy TSLA at 1400 and sell at 1550+. Rinse and repeat. 

[China]

1 hour ago, Mr. Sinister said:

Good luck to all. Dark times are ahead.

 

A troubling pandemic thought: Are THESE the good old days?

 

News articles don’t carry Hollywood-style viewer ratings or trigger warnings. Maybe this one should.

 

But consider this: What if THESE are the good old days?

 

Depressing as that might seem after the coronavirus pandemic has claimed well over 630,000 lives worldwide, cost tens of millions their jobs and inflicted untold misery across the planet, it’s entirely possible — increasingly likely, some say — that things will get worse before they get better.

 

Americans in particular have been optimists by nature for the better part of four centuries. But even here, a bleak dystopian vision is emerging in some corners. It’s not pretty.

 

It imagines a not-too-distant future where we’ll all look back with nostalgia at 2020 as a time when most of us had plenty of food and wine, could get many of the goods and services we needed, and could work from home at jobs that still paid us.

 

“This could be as good as it gets, so let’s take pleasure in what we have now,” Katherine Tallman, the CEO of the Coolidge Corner Theatre, an indie cinema in Brookline, Massachusetts, told a recent Zoom roundtable.

 

The pandemic continues to buffet the planet economically, dashing hopes that the worst of the joblessness might be behind us.

 

The pandemic is “going to get worse and worse and worse,” World Health Organization chief Tedros Adhanom Ghebreyesus told reporters last week. “There will be no return to the old normal for the foreseeable future.”

 

“These times we’re in right now — perilous as they are — will soon be looked back on fondly as ‘the good old days.’ Prepare accordingly,” tweeted Columbia University philosopher Rory Varrato.

 

Click on the link for the full article

 

[Mr. Sinister]

That's the part that gets me so ****ing irate. Prepare? We cant get assholes in this country to ACKNOWLEDGE ITS EXISTENCE!

Edited July 28, 2020 by Mr. Sinister

[NoCalMike]

Come on guys this last page of the thread is full of #FindSomethingNew opportunities!

[hail2skins]

Q2 GDP numbers out tomorrow (Thursday) morning at 0830. Consensus number is -35 percent compared to Q1. Who thinks we are going to have a number substantially different than that, say closer to -20 percent? Should be interesting either way.

[Sacks 'n' Stuff]

I think it’ll be better than -35. Wont venture a guess as to what but just going off stock earnings, they have been bad but not as bad as forecast.

 

Edit: Ok, I’ll guess -30

Edited July 30, 2020 by Sacks 'n' Stuff