Peloton and Docusign are two drastically different companies, on very different trajectories. Before the pandemic, the busiest mall in my town had a Peloton pop up store that was a ghost town EVERY time I walked by it (I couldn’t even count the amount of times I went by it). This narrative about “pandemic stocks” just feels like lazy regurgitation without looking in depth. PS Tesla did fine with earnings.
The Pandemic Boom Goes Bust
121–130 of 149 posts
Re: The Pandemic Boom Goes Bust
#122Earlier quoted context omitted.
While I had hoped Bernie would have been elected, at this point I don't think much would have changed if Bernie had been president. If anything, it probably would've made Joe Manchin dig his heels in even further. At this point I think they know 2022 is gone, and are aiming for a fighting chance in 2024. The only real difference between a president bernie and a president biden, is that in 2023 and 2024, leading up to…
>While I had hoped Bernie would have been elected, at this point I don't think much would have changed if Bernie had been president. If anything, it probably would've made Joe Manchin dig his heels in even further. I respectfully disagree. Did you know that in 2016 in the Democratic primary in West Virginia Bernie won all 55 counties and in one country Hillary Clinton finished in third place? West Virginia has an ext…
I appreciate the sentiment and the enthusiam, however I am skeptical. I was born, raised, and went to school in west virginia. Bernie might win the democratic primary against Hillary Clinton or Obama but he stands no chance in the general election. The socialism is a bridge too far. Its why Manchin is acting like he is. Though I'm no fan of Manchin for local and personal reasons that go deeper than current national politics. His uncle was sleazy and so are him and his daughter (who have already survived scandal).
Fun story: One of my friends had a photo with Manchin once when he was governor, he literally picked her up and placed her somewhere else like a child. The dude sucks.
Re: The Pandemic Boom Goes Bust
#123Earlier quoted context omitted.
Which ideologies and plans are those?
You're not familiar with the fact that there are people to the left of establishment Democrats? We could start with the Democratic Socialists of America (DSA); India Walton, who won the Democratic primary for mayor of Buffalo; or even the Bernie Sanders campaign. It gets more left from there, beyond electoral campaigns.
Sure, but it doesn't seem any are in national office. In the context of "Pelosi, Schumer, and Biden" wanting to keep "plans" away, it would seem that those plans would have to have some amount of publicity to begin with. There are an absurd number of plans by those not in office that have no publicity, and thus would be unknowable to the reader. That's why I was asking for clarification.
Re: The Pandemic Boom Goes Bust
#124Earlier quoted context omitted.
"Unless people start getting physically in the way of each other more people on a site means the project gets done faster." Have you worked construction? If they're clueless, then they will slow you down with mistakes and questions/training. Not to mention many parts of construction require skilled trades (electric, plumbing, carpentry, masonry, etc), some of which require licenses.
Yes, being unskilled on a construction site is called being an apprentice. No one complains about having too many apprentices around when they can get you everything you need without you needing to get off the ladder.
Usually they differentiate. Apprentices for a skilled trade usually have some sort of training. This is especially true for union positions in licensed trades (like electricians). Apprentices eventually move into a position to do the job, whereas unskilled laborers just continue to move materials around.
"No one complains about having too many apprentices around when they can get you everything you need without you needing to get off the ladder."
Except when they are "clueless". Then they'll waste your time by bringing you the wrong thing.
Re: The Pandemic Boom Goes Bust
#125Earlier quoted context omitted.
Your assertion assumes that demand would not have contracted in April 2020 absent government intervention, which seems suspect. Unless you believe no one would have adopted any pandemic precautions absent activity restrictions, thereby averting any demand drop in, say, the entertainment and hospitality sectors.
Demand reflects consumption opportunities People kept receiving salaries, and unemployment benefits. So financial position and income of families was always strong There's no precautionary savings cycle.. People engaged in financial risk taking by buying houses like never before
> There's no precautionary savings cycle.. People engaged in financial risk taking
The personal savings rate tripled in early 2020: https://fred.stlouisfed.org/series/PSAVERT
Re: The Pandemic Boom Goes Bust
#126I am as far from an inflation hawk as you can get. I basically think that any government can both print money and avoid inflation bar external shocks with a modicum of common sense, e.g. don't pay people not working to piss off the French and Belgians: https://www.theholocaustexplained.org/the-nazi-rise-to-power... Yet we did just that. People not working being paid for existing at a time when the real economy went i…
>People not working being paid for existing at a time when the real economy went into cardiac arrest by every measure of actual productivity. Are people still on this canard? As a reminder, if people were paid by their measure of actual productivity, minimum wage would be $24/hr (see: https://www.counterpunch.org/2020/01/24/what-the-minimum-wag... ) Another reminder, these are the relief payments made to Americans ov…
> I don't understand how disconnected people have to be to be angry over $266.66/month.
I have a feeling that some of the angry people are people who made too much money to qualify for the stimulus. I certainly didnt hear of anyone returning their payments.
Re: The Pandemic Boom Goes Bust
#127Earlier quoted context omitted.
You're not familiar with the fact that there are people to the left of establishment Democrats? We could start with the Democratic Socialists of America (DSA); India Walton, who won the Democratic primary for mayor of Buffalo; or even the Bernie Sanders campaign. It gets more left from there, beyond electoral campaigns.
Sure, but it doesn't seem any are in national office. In the context of "Pelosi, Schumer, and Biden" wanting to keep "plans" away, it would seem that those plans would have to have some amount of publicity to begin with. There are an absurd number of plans by those not in office that have no publicity, and thus would be unknowable to the reader. That's why I was asking for clarification.
Right, Pelosi, Schumer, Biden, and similar, want to do their best to keep anyone with such plans out of power, and make sure they do not threaten the power of those in power. That's all I'm saying.
The comment at the top here was "I'd say that the reason for doing this was to discredit left leaning economic policy for another 40 years, like happened after the stagflation of the 70s."
Re: The Pandemic Boom Goes Bust
#128Earlier quoted context omitted.
Our large scale public projects always seem to end up being villified due to massive overuns, nepotism, embezzlement, and at best mismanagement. It typically benefits one small area too. If we want public opinion to change on these efforts, we need to change the track record to build trust for bigger and bigger projects.
It's hard to argue that the space program was only good for Florida. Or that the Manhattan Project was only good for New Mexico and Washington.
You are right to point out that MIC related projects like those helped society. And so did the internet, obviously. But infrastructure projects like the big dig are far more common at various scales across the US. Typically they increase the value of land owned by sponsors or relatives of sponsors of the effort, or hire a series of contractors with relationships to the sponsor.
Re: The Pandemic Boom Goes Bust
#129Earlier quoted context omitted.
Sure, but it doesn't seem any are in national office. In the context of "Pelosi, Schumer, and Biden" wanting to keep "plans" away, it would seem that those plans would have to have some amount of publicity to begin with. There are an absurd number of plans by those not in office that have no publicity, and thus would be unknowable to the reader. That's why I was asking for clarification.
Right, Pelosi, Schumer, Biden, and similar, want to do their best to keep anyone with such plans out of power, and make sure they do not threaten the power of those in power. That's all I'm saying. The comment at the top here was "I'd say that the reason for doing this was to discredit left leaning economic policy for another 40 years, like happened after the stagflation of the 70s."
Yeah, and I don't understand what plans are being avoided. If anything it seems the extended unemployment, advanced tax credits, etc seems to have paved the way for UBI, etc. Sure, the conservative side is against it, but once Rome starts handing out free bread... once constituents realize they hold the keys to the coffers... assistance programs only grow... When people are getting something out of it, that's an entirely different dynamic than stagflation.
Re: The Pandemic Boom Goes Bust
#130Earlier quoted context omitted.
You can easily reverse monetary stimulus: just sell those assets that the central bank bought. You can't really reverse fiscal stimulus. Once you paid people to dig holes and cover them again, you can't really get that money back. Yes, public solvency is not an issue for governments that borrow in their own currency. But that's a separate concern.
> You can easily reverse monetary stimulus: just sell those assets that the central bank bought. You can do that.... but watch the markets tumble and the interest rates skyrocket... and the politicians and bankers panic!
Maybe, but that's a different issue.