Capitalism, The Fed and Economic Policy

mrussel1 · November 2022

tempo_n_groove said:

Zod said:

tempo_n_groove said:

mrussel1 said:

tempo_n_groove said:

International events are causing further concerns. Russia’s invasion of Ukraine has disrupted trade and raised prices of energy and food, creating a crisis for poor countries. The International Monetary Fund, citing the war, this month downgraded its outlook for the world economy in 2023.

We had a pandemic for 2 years that cut supply chains off and prices barely raised. Russia and Ukraine going at it though ruins the worlds economy...

This is why I think the inflated prices are bullshit and corporations making up for lost profits much like the oil producers are right now.

Oh and 7% interest rate on a house mortgage now? If you planned a flip it, that is not happening now as your home price most likely lost a good 10-20% on prices.

I can see the housing market taking a huge hit here and it will reset everyone's value and eliminating any borrowing off of it.

Recession here we come.

You're thinking of economics in reverse. Prices didn't rise during the pandemic because demand was low. No one traveled, for business or pleasure. People didn't drive to work, etc. The economy restarted, the supply chain wasn't quite ready and Russia invaded, creating disruption in the oil supply. Once prices go up, they will NEVER go down until there is a reduction in demand, like a recession. So yeah, it's coming and that's the only way prices normalize.

You couldn't find shit on the shelves, the price of toilet paper did not go up... We actually spent more during the pandemic. The numbers support that.

Everyone cut production. Then of course everyone boycotts Russian oil and OPEC cuts production again causing prices again to increase.

I find it really interesting that we are producing record oil and not making a dent... A few other countries could do it too and offset Russia supply but I don't think anyone is really interested in that.

This global economy thing baffles me sometimes. The big fish really want to squeeze the life out of everyone else.

There's the other thing too. At least with Oil/Gas. Governments and the world are trying to ween us off oil/gas. So investment in big projects like refineries aren't happening. A refinery costs 10's of billions and usually about 50 years to pay off. I can see why Oil companies are nervous to make that investment. Will it still make money in 20 or 30 years from now, when it's still not paid off yet.

I think it's been decades since new gas refineries were built in US or Canada. The US has now lost 5 or 6, so the ability to produce gas is shrinking, while demand is increasing.

If they didn't charge the higher prices for gas, would there have been enough to around. IE if demand at $4 a gallon is 2 billion gallons of gas, and demand at $6/gallon is 1.7 billion gallons, is there actually enough to meet demand at lower prices. I don't know the answer to that question.

But that's how I think of it. If there's scarcity of goods, and you charge below the equilibrium price you have shortages.

So the refineries is a big deal too. Yes a bunch not making money closed. New ones are made but older ones closed or changed over. Why would you build them though? If it takes 50 years to pay one off, I find that hard to believe, why even make one, then I see not investing in that and focusing money into newer tech.

I don't think the corporations give a shit, they'll make their money no matter what they do, that's why they are in business.

So something else that is wild to me is that we are producing/refining only 1 million barrels less than peak a few years ago. That isn't that much.
https://www.eia.gov/dnav/pet/pet_pnp_cap1_dcu_nus_a.htm

Refineries can't just spin up quickly. And I agree that they are not in danger of shaving profits any time soon. Look at the EIA forecasts for 2023.. it will be a record year for US production.

https://www.eia.gov/outlooks/steo/

tempo_n_groove · November 2022

mrussel1 said:

tempo_n_groove said:

Zod said:

tempo_n_groove said:

mrussel1 said:

tempo_n_groove said:

International events are causing further concerns. Russia’s invasion of Ukraine has disrupted trade and raised prices of energy and food, creating a crisis for poor countries. The International Monetary Fund, citing the war, this month downgraded its outlook for the world economy in 2023.

We had a pandemic for 2 years that cut supply chains off and prices barely raised. Russia and Ukraine going at it though ruins the worlds economy...

This is why I think the inflated prices are bullshit and corporations making up for lost profits much like the oil producers are right now.

Oh and 7% interest rate on a house mortgage now? If you planned a flip it, that is not happening now as your home price most likely lost a good 10-20% on prices.

I can see the housing market taking a huge hit here and it will reset everyone's value and eliminating any borrowing off of it.

Recession here we come.

You're thinking of economics in reverse. Prices didn't rise during the pandemic because demand was low. No one traveled, for business or pleasure. People didn't drive to work, etc. The economy restarted, the supply chain wasn't quite ready and Russia invaded, creating disruption in the oil supply. Once prices go up, they will NEVER go down until there is a reduction in demand, like a recession. So yeah, it's coming and that's the only way prices normalize.

You couldn't find shit on the shelves, the price of toilet paper did not go up... We actually spent more during the pandemic. The numbers support that.

Everyone cut production. Then of course everyone boycotts Russian oil and OPEC cuts production again causing prices again to increase.

I find it really interesting that we are producing record oil and not making a dent... A few other countries could do it too and offset Russia supply but I don't think anyone is really interested in that.

This global economy thing baffles me sometimes. The big fish really want to squeeze the life out of everyone else.

There's the other thing too. At least with Oil/Gas. Governments and the world are trying to ween us off oil/gas. So investment in big projects like refineries aren't happening. A refinery costs 10's of billions and usually about 50 years to pay off. I can see why Oil companies are nervous to make that investment. Will it still make money in 20 or 30 years from now, when it's still not paid off yet.

I think it's been decades since new gas refineries were built in US or Canada. The US has now lost 5 or 6, so the ability to produce gas is shrinking, while demand is increasing.

If they didn't charge the higher prices for gas, would there have been enough to around. IE if demand at $4 a gallon is 2 billion gallons of gas, and demand at $6/gallon is 1.7 billion gallons, is there actually enough to meet demand at lower prices. I don't know the answer to that question.

But that's how I think of it. If there's scarcity of goods, and you charge below the equilibrium price you have shortages.

So the refineries is a big deal too. Yes a bunch not making money closed. New ones are made but older ones closed or changed over. Why would you build them though? If it takes 50 years to pay one off, I find that hard to believe, why even make one, then I see not investing in that and focusing money into newer tech.

I don't think the corporations give a shit, they'll make their money no matter what they do, that's why they are in business.

So something else that is wild to me is that we are producing/refining only 1 million barrels less than peak a few years ago. That isn't that much.
https://www.eia.gov/dnav/pet/pet_pnp_cap1_dcu_nus_a.htm

Refineries can't just spin up quickly. And I agree that they are not in danger of shaving profits any time soon. Look at the EIA forecasts for 2023.. it will be a record year for US production.

https://www.eia.gov/outlooks/steo/

Holy Shit did you see the price of Natural Gas?

So we will keep on producing more than any country but because the refineries say they are refining less price will stay high... We will never run out of fuel.

Lerxst1992 · November 2022

tempo_n_groove said:

mrussel1 said:

tempo_n_groove said:

Zod said:

tempo_n_groove said:

mrussel1 said:

tempo_n_groove said:

International events are causing further concerns. Russia’s invasion of Ukraine has disrupted trade and raised prices of energy and food, creating a crisis for poor countries. The International Monetary Fund, citing the war, this month downgraded its outlook for the world economy in 2023.

We had a pandemic for 2 years that cut supply chains off and prices barely raised. Russia and Ukraine going at it though ruins the worlds economy...

This is why I think the inflated prices are bullshit and corporations making up for lost profits much like the oil producers are right now.

Oh and 7% interest rate on a house mortgage now? If you planned a flip it, that is not happening now as your home price most likely lost a good 10-20% on prices.

I can see the housing market taking a huge hit here and it will reset everyone's value and eliminating any borrowing off of it.

Recession here we come.

You're thinking of economics in reverse. Prices didn't rise during the pandemic because demand was low. No one traveled, for business or pleasure. People didn't drive to work, etc. The economy restarted, the supply chain wasn't quite ready and Russia invaded, creating disruption in the oil supply. Once prices go up, they will NEVER go down until there is a reduction in demand, like a recession. So yeah, it's coming and that's the only way prices normalize.

You couldn't find shit on the shelves, the price of toilet paper did not go up... We actually spent more during the pandemic. The numbers support that.

Everyone cut production. Then of course everyone boycotts Russian oil and OPEC cuts production again causing prices again to increase.

I find it really interesting that we are producing record oil and not making a dent... A few other countries could do it too and offset Russia supply but I don't think anyone is really interested in that.

This global economy thing baffles me sometimes. The big fish really want to squeeze the life out of everyone else.

There's the other thing too. At least with Oil/Gas. Governments and the world are trying to ween us off oil/gas. So investment in big projects like refineries aren't happening. A refinery costs 10's of billions and usually about 50 years to pay off. I can see why Oil companies are nervous to make that investment. Will it still make money in 20 or 30 years from now, when it's still not paid off yet.

I think it's been decades since new gas refineries were built in US or Canada. The US has now lost 5 or 6, so the ability to produce gas is shrinking, while demand is increasing.

If they didn't charge the higher prices for gas, would there have been enough to around. IE if demand at $4 a gallon is 2 billion gallons of gas, and demand at $6/gallon is 1.7 billion gallons, is there actually enough to meet demand at lower prices. I don't know the answer to that question.

But that's how I think of it. If there's scarcity of goods, and you charge below the equilibrium price you have shortages.

So the refineries is a big deal too. Yes a bunch not making money closed. New ones are made but older ones closed or changed over. Why would you build them though? If it takes 50 years to pay one off, I find that hard to believe, why even make one, then I see not investing in that and focusing money into newer tech.

I don't think the corporations give a shit, they'll make their money no matter what they do, that's why they are in business.

So something else that is wild to me is that we are producing/refining only 1 million barrels less than peak a few years ago. That isn't that much.
https://www.eia.gov/dnav/pet/pet_pnp_cap1_dcu_nus_a.htm

Refineries can't just spin up quickly. And I agree that they are not in danger of shaving profits any time soon. Look at the EIA forecasts for 2023.. it will be a record year for US production.

https://www.eia.gov/outlooks/steo/

Holy Shit did you see the price of Natural Gas?

So we will keep on producing more than any country but because the refineries say they are refining less price will stay high... We will never run out of fuel.

FWIW nat gas exploded in cost July thru Sept, and fell off of a cliff in Oct, as tankers are lining the shores of Europe with few places left to store the gas. There’s a ton of supply out there now, until he next deep freeze arrives. Right now I’m on the back patio sweating in the sun in NY. F U Putin!

the reason why it takes refineries decades to break even is the same reason why Europe can’t get off nat gas so soon. Weened off a small bit each year yes, but to build out a brand new infrastructure with tech that barely exists, and whose by product harm that is still not fully understood, takes time.

tempo_n_groove · November 2022

0.75...

Halifax2TheMax · November 2022

tempo_n_groove said:

0.75...

I guess inflation won't matter when you're (general you) unemployed and can't afford anything anyway. I can't wait to watch the repub congress try to address any issue facing the 'Murican people with the forward thinking, geniuses they're running.

tempo_n_groove · November 2022

Halifax2TheMax said:

tempo_n_groove said:

0.75...

I guess inflation won't matter when you're (general you) unemployed and can't afford anything anyway. I can't wait to watch the repub congress try to address any issue facing the 'Murican people with the forward thinking, geniuses they're running.

Every candidate claims they have a "plan to battle inflation and crime". Sure ya do!

I agree w you Fax. 3rd sign of the apocalypse

Halifax2TheMax · November 2022

Gotta love Big Oil. Gee, I wonder what their corporate profits tax burden is?

https://www.cnn.com/2022/11/09/economy/phillips-66-energy-layoffs/index.html

static111 · November 2022

Halifax2TheMax said:

Gotta love Big Oil. Gee, I wonder what their corporate profits tax burden is?

https://www.cnn.com/2022/11/09/economy/phillips-66-energy-layoffs/index.html

did you miss this one...those poor guys and gals have to deal with the boom bust cycles and the shareholders, how about a little more empathy. Its a little dated from back in July and flew under most people's radar.

https://www.theguardian.com/environment/2022/jul/21/revealed-oil-sectors-staggering-profits-last-50-years

" The oil and gas industry has delivered $2.8bn (£2.3bn) a day in pure profit for the last 50 years, a new analysis has revealed.

The vast total captured by petrostates and fossil fuel companies since 1970 is $52tn, providing the power to “buy every politician, every system” and delay action on the climate crisis, says Prof Aviel Verbruggen, the author of the analysis. The huge profits were inflated by cartels of countries artificially restricting supply.

The analysis, based on World Bank data, assesses the “rent” secured by global oil and gas sales, which is the economic term for the unearned profit produced after the total cost of production has been deducted.

The study has yet to be published in an academic journal but three experts at University College London, the London School of Economics and the thinktank Carbon Tracker confirmed the analysis as accurate, with one calling the total a “staggering number”. It appears to be the first long-term assessment of the sector’s total profits, with oil rents providing 86% of the total."

continues

mickeyrat · November 2022

https://apnews.com/article/inflation-united-states-economy-business-consumer-prices-039d829b874be6237041e5f0ab032ad1

Inflation United States Economy Prices Government and politics

US consumer inflation eased to 7.7% over past 12 months

By PAUL WISEMAN

13 mins ago

WASHINGTON (AP) — Price increases moderated in the United States last month in the latest sign that the inflation pressures that have gripped the nation might be easing as the economy slows and consumers grow more cautious.

Consumer inflation reached 7.7% in October from a year earlier and 0.4% from September, the government said Thursday. The year-over-year increase, a slowdown from 8.2% in September, was the smallest rise since January. A separate gauge called core inflation, which excludes volatile food and energy, rose 6.3% in the past 12 months and 0.3% from September.

The numbers were all lower than economists had expected.

Helping drive the inflation slowdown from September to October were used car prices, which dropped for a fourth straight month. Also down were the prices of clothing and medical care. Food price increases slowed. By contrast, energy prices rebounded in October after having declined in August and September.

Even with last month’s tentative easing of inflation, the Federal Reserve is widely expected to keep raising interest rates to try to stem persistently high price increases. But Thursday's better-than-expected data raised the possibility that the Fed could decide to slow its rate hikes — a prospect that sent stock prices jumping immediately after the government issued the figures.

INFLATION

Wall Street surges, as S&P 500 soars 4% on cooling inflation

Average long-term US mortgage rate back above 7% this week

Slightly more Americans apply for jobless benefits last week

Deflated: falling valuations drag stock prices down to earth

“We expect this to mark the start of a much longer disinflationary trend that we think will convince the Fed to halt its (hikes) early next year,” said Paul Ashworth, chief North American economist at Capital Economics, a consulting firm. “With supply shortages normalizing, deflationary pressure is now finally showing up.”

Many economists have warned that in continuing to tighten credit, the central bank is likely to cause a recession by next year. So far this year, the Fed has raised its benchmark interest rate six times in sizable increments, heightening the risk that prohibitively high borrowing rates — for mortgages, auto purchases and other high-cost expenses — will tip the world’s largest economy into recession.

Some economists suggested that the latest inflation data shows that the hikes are beginning to achieve their goal, though the Fed needs to see further evidence.

“The data will be welcome news for the (Fed), finally showing some response in prices” to the rate increases, said Rubeela Farooqi, chief U.S. economist at High Frequency Economics.

In the midterm elections that ended Tuesday, roughly half of voters cited inflation as the top factor in their decisions, according to VoteCast, an extensive survey of more than 94,000 voters nationwide conducted for The Associated Press by NORC at the University of Chicago. About 8 in 10 said the economy was in bad shape, and a slim majority blamed President Joe Biden’s policies for worsening inflation. Just under half said factors beyond Biden’s control, such as Russia’s invasion of Ukraine, were to blame.

Those economic anxieties contributed to the loss of Democratic seats in the House of Representatives, though Republicans failed to score the huge political gains that many had expected. And a sizable chunk of voters — 44%, according to VoteCast — said their top concern was the future of democracy, an issue that was emphasized by Biden and Democratic congressional candidates.

Even before the release of Thursday's figures, inflation by some measures had begun to ease and could continue to do so in coming months. Most gauges of workers’ wages, for example, show that the robust pay increases of the past 18 months have leveled off and have begun to fall. Though worker pay is not a primary driver of higher prices, it can compound inflationary pressures if companies offset their higher labor costs by charging their customers more.

Except for automakers, which are still struggling to acquire the computer chips they need, supply chain disruptions have largely unsnarled. Shipping costs have dropped back to pre-pandemic levels. The backup of cargo ships off the port of Los Angeles and Long Beach has been cleared.

And as declines in new rents that have emerged in real-time measures from such sources as ApartmentList and Zillow begin to be captured in the government’s forthcoming measures, that factor should also reduce inflation.

Even as many fear that the economy will fall into recession next year, the nation’s job market has remained resilient. Employers have added a healthy average of 407,000 jobs a month, and the unemployment rate is just 3.7%, close to a half-century low. Job openings are still at historically high levels.

But the Fed’s rate hikes have inflicted severe damage on the American housing market. The average rate on a 30-year fixed mortgage has more than doubled over the past year and topped 7% this week. As a result, investment in housing collapsed in the July-September quarter, falling at a 26% annual rate.

Higher mortgage rates have depressed sales. Home prices are slowing sharply compared with a year ago and have begun to fall on a monthly basis. The cost of a new apartment lease is also declining.

___

AP Economics Writer Christopher Rugaber contributed to this report.

tempo_n_groove · November 2022

I want the houses to fall further in prices. They were too inflated as it was.

tempo_n_groove · November 2022

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Halifax2TheMax · November 2022

tempo_n_groove said:

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Seems AOC may have saved her district from being a ghost town after jettisoning the locals for "jobs?"

tempo_n_groove · November 2022

Halifax2TheMax said:

tempo_n_groove said:

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Seems AOC may have saved her district from being a ghost town after jettisoning the locals for "jobs?"

I also didn't like the Amazon deal when it was presented. With the real-estate problems right now that area may have turned to crap. We don't know though.

Rent is like $3700 average asking there. It's not in my top 10 but I also don't understand how people can afford these things?

Halifax2TheMax · November 2022

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Seems AOC may have saved her district from being a ghost town after jettisoning the locals for "jobs?"

I also didn't like the Amazon deal when it was presented. With the real-estate problems right now that area may have turned to crap. We don't know though.

Rent is like $3700 average asking there. It's not in my top 10 but I also don't understand how people can afford these things?

Immigrant families of 4,5 or 6+ sharing a one bedroom apartment with everyone working menial jobs and contributing in some way.

tempo_n_groove · November 2022

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Seems AOC may have saved her district from being a ghost town after jettisoning the locals for "jobs?"

I also didn't like the Amazon deal when it was presented. With the real-estate problems right now that area may have turned to crap. We don't know though.

Rent is like $3700 average asking there. It's not in my top 10 but I also don't understand how people can afford these things?

Immigrant families of 4,5 or 6+ sharing a one bedroom apartment with everyone working menial jobs and contributing in some way.

In the burbs or somewhere else, not in LIC and the top 5 places in Manhattan. That is what Queens is for.

Halifax2TheMax · November 2022

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Seems AOC may have saved her district from being a ghost town after jettisoning the locals for "jobs?"

I also didn't like the Amazon deal when it was presented. With the real-estate problems right now that area may have turned to crap. We don't know though.

Rent is like $3700 average asking there. It's not in my top 10 but I also don't understand how people can afford these things?

Immigrant families of 4,5 or 6+ sharing a one bedroom apartment with everyone working menial jobs and contributing in some way.

In the burbs or somewhere else, not in LIC and the top 5 places in Manhattan. That is what Queens is for.

I was thinking the location of the proposed Amazon campus in AOC’s district.

tempo_n_groove · November 2022

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Seems AOC may have saved her district from being a ghost town after jettisoning the locals for "jobs?"

I also didn't like the Amazon deal when it was presented. With the real-estate problems right now that area may have turned to crap. We don't know though.

Rent is like $3700 average asking there. It's not in my top 10 but I also don't understand how people can afford these things?

Immigrant families of 4,5 or 6+ sharing a one bedroom apartment with everyone working menial jobs and contributing in some way.

In the burbs or somewhere else, not in LIC and the top 5 places in Manhattan. That is what Queens is for.

I was thinking the location of the proposed Amazon campus in AOC’s district.

AOC didn't have anything being built by amazon in her district, that was the big deal by everyone that she was not even part of that district.

It was going to be a mass effect though in her district as it was a bedroom away. That is the border of LIC and is the vey Queens I was talking about, lol.

So you are part right, yes that is where they live 4-6 working people in an apartment would be but that rent is lower there. Amazon moving in next door was going to quadruple those prices.

Halifax2TheMax · November 2022

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Seems AOC may have saved her district from being a ghost town after jettisoning the locals for "jobs?"

I also didn't like the Amazon deal when it was presented. With the real-estate problems right now that area may have turned to crap. We don't know though.

Rent is like $3700 average asking there. It's not in my top 10 but I also don't understand how people can afford these things?

Immigrant families of 4,5 or 6+ sharing a one bedroom apartment with everyone working menial jobs and contributing in some way.

In the burbs or somewhere else, not in LIC and the top 5 places in Manhattan. That is what Queens is for.

I was thinking the location of the proposed Amazon campus in AOC’s district.

AOC didn't have anything being built by amazon in her district, that was the big deal by everyone that she was not even part of that district.

It was going to be a mass effect though in her district as it was a bedroom away. That is the border of LIC and is the vey Queens I was talking about, lol.

So you are part right, yes that is where they live 4-6 working people in an apartment would be but that rent is lower there. Amazon moving in next door was going to quadruple those prices.

Thanks for the clarification. I remember looking at her district back when we were discussing it and its an odd shaped one but they all are and I have no clue when it comes to the geography of the five boroughs. I'm as directionally challenged as they come and without a landmark to guide me or being somewhere for 6 months, I'm lost. Regardless, AOC was looking out for her constituents and seems to have made the right call. I also saw that she was overwhelmingly re-elected so she must be doing something right. Speaking of which, haven't heard much about how great a threat "The Squad" is of late. Odd.

mrussel1 · November 2022

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Seems AOC may have saved her district from being a ghost town after jettisoning the locals for "jobs?"

I also didn't like the Amazon deal when it was presented. With the real-estate problems right now that area may have turned to crap. We don't know though.

Rent is like $3700 average asking there. It's not in my top 10 but I also don't understand how people can afford these things?

Immigrant families of 4,5 or 6+ sharing a one bedroom apartment with everyone working menial jobs and contributing in some way.

In the burbs or somewhere else, not in LIC and the top 5 places in Manhattan. That is what Queens is for.

I was thinking the location of the proposed Amazon campus in AOC’s district.

AOC didn't have anything being built by amazon in her district, that was the big deal by everyone that she was not even part of that district.

It was going to be a mass effect though in her district as it was a bedroom away. That is the border of LIC and is the vey Queens I was talking about, lol.

So you are part right, yes that is where they live 4-6 working people in an apartment would be but that rent is lower there. Amazon moving in next door was going to quadruple those prices.

Thanks for the clarification. I remember looking at her district back when we were discussing it and its an odd shaped one but they all are and I have no clue when it comes to the geography of the five boroughs. I'm as directionally challenged as they come and without a landmark to guide me or being somewhere for 6 months, I'm lost. Regardless, AOC was looking out for her constituents and seems to have made the right call. I also saw that she was overwhelmingly re-elected so she must be doing something right. Speaking of which, haven't heard much about how great a threat "The Squad" is of late. Odd.

I don't know that they are a threat but I do wonder their utility. Did she campaign for her colleagues in NY? Have they moved any legislation? Are they building an important movement? These are semi-rhetorical. I think the answers to these questions are not positive, but someone can correct me.

I don't have an issue with AOC being ultra-progressive if that reps her district. What I don't like is her being a national figure if she is not representative of the country at large. I don't think it helps.

Halifax2TheMax · November 2022

mrussel1 said:

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

Halifax2TheMax said:

tempo_n_groove said:

OK so Amazon throws their name in there too with 10,000 layoffs.

So we have the big 3 of Twitter, Meta/FB and Amazon laying off 30,000+ workers. Well THAT should help out w inflation when the unemployment rate goes up.

Something is up when you have 3 bigs cut a chunk of their workforce or are they just trimming the fat, i don't think so.

Seems AOC may have saved her district from being a ghost town after jettisoning the locals for "jobs?"

I also didn't like the Amazon deal when it was presented. With the real-estate problems right now that area may have turned to crap. We don't know though.

Rent is like $3700 average asking there. It's not in my top 10 but I also don't understand how people can afford these things?

Immigrant families of 4,5 or 6+ sharing a one bedroom apartment with everyone working menial jobs and contributing in some way.

In the burbs or somewhere else, not in LIC and the top 5 places in Manhattan. That is what Queens is for.

I was thinking the location of the proposed Amazon campus in AOC’s district.

AOC didn't have anything being built by amazon in her district, that was the big deal by everyone that she was not even part of that district.

It was going to be a mass effect though in her district as it was a bedroom away. That is the border of LIC and is the vey Queens I was talking about, lol.

So you are part right, yes that is where they live 4-6 working people in an apartment would be but that rent is lower there. Amazon moving in next door was going to quadruple those prices.

Thanks for the clarification. I remember looking at her district back when we were discussing it and its an odd shaped one but they all are and I have no clue when it comes to the geography of the five boroughs. I'm as directionally challenged as they come and without a landmark to guide me or being somewhere for 6 months, I'm lost. Regardless, AOC was looking out for her constituents and seems to have made the right call. I also saw that she was overwhelmingly re-elected so she must be doing something right. Speaking of which, haven't heard much about how great a threat "The Squad" is of late. Odd.

I don't know that they are a threat but I do wonder their utility. Did she campaign for her colleagues in NY? Have they moved any legislation? Are they building an important movement? These are semi-rhetorical. I think the answers to these questions are not positive, but someone can correct me.

I don't have an issue with AOC being ultra-progressive if that reps her district. What I don't like is her being a national figure if she is not representative of the country at large. I don't think it helps.

The Squad and their progressivism moved the needle in Brandon's legislative accomplishments. Not to their liking or far enough, I'm sure, for them, but there's no denying that they got some version of the things they wanted, particularly in the infrastructure bill with climate/environment. Tax policy also comes to mind as well as budget priorities. And my guess is, is that more "young" people identify more closely with the ideals espoused by The Squad than by the POOTWH'ers and the repub party at large. So, in a way, they're building a movement. Of how much import it will be remains to be seen. A record number of women being elected to governorships can only help.

Capitalism, The Fed and Economic Policy

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