Economics Thread
- Thread starter sturg33
- Start date
This isn’t an obsession for me, just an observation on how we equate success with virtue. Yes, I think there are things we could do on income tax that would benefit society as a whole that would impact Bezos’ net income, but I’m not claiming he’s done something wrong nor am I personally concerned with how he spends that money. But being the guy that presides over a company that most successfully bested or acquired its competitors, while useful for the economy, is not necessarily any more righteous than the person who boxes the items. Bezos’ skills simply have a higher value in our economic system, and I don’t think that makes him any more important to society.
zitothebrave
Connoisseur of Minors
Eh, Bezos should pay more taxes, but whatever. He's not doing anything different than anyone else.
Just tax federal gains at a tiered rate like we do income. Or come up with some way to regulate the banks, so when they do these types of loans (rich people will get loans on their wealth to spend money as a way to dodge taxes) they're paying a tax.
There's ways to handle it but Bezos isn't anything special. He's just another rich dude who does things other rich dudes do.
acesfull86
Well-known member
https://www.bloomberg.com/news/arti...ctivity-contracted-in-june-for-a-fourth-month
US factory activity contracted in June for a fourth consecutive month as orders and employment shrank at a faster pace, extending the malaise in manufacturing.
The Institute for Supply Management’s manufacturing index edged up 0.5 point last month to 49, according to data released Tuesday. Readings below 50 indicate contraction. A measure of prices paid for raw materials showed slightly faster inflation.
Bookings contracted by the most in three months and have been shrinking for the past five months, likely a reflection of higher tariffs and a general slowdown in the economy. An index of order backlogsfell 2.8 points, the most in a year, to 44.3. Backlogs have contracted a record 33 straight months.
…
“The biopharmaceutical space is starting to see more pronounced headwinds: Stock prices have significantly eroded, companies are facing hiring freezes, and so on.” — Chemical Products
“The tariff mess has utterly stopped sales globally and domestically. Everyone is on pause. Orders have collapsed.” — Machinery
“Tariff volatility has impacted machinery, steel and specialized components. Also, potential shortages of skilled labor for construction, maintenance and installation.” — Food, Beverage & Tobacco Products
“Tariffs continue to cause confusion and uncertainty for long-term procurement decisions. The situation remains too volatile to firmly put such plans into place.” — Computer & Electronic Products
“Tariffs, chaos, sluggish economy, rising prices, Ukraine, Iran, geopolitical unrest around the world — all make for a landscape that is hellacious, and fatigue is setting in due to dealing with these issues across the spectrum.” — Primary Metals
“The word that best describes the current market outlook is ‘uncertainty.’ The erratic trade policy with on-again/off-again tariffs has led to price uncertainty for customers, who appear to be prepared to hold off large capital purchases until stability returns. This has resulted in further reductions in customer demand and softening sales for the balance of 2025.” — Transportation Equipment
US factory activity contracted in June for a fourth consecutive month as orders and employment shrank at a faster pace, extending the malaise in manufacturing.
The Institute for Supply Management’s manufacturing index edged up 0.5 point last month to 49, according to data released Tuesday. Readings below 50 indicate contraction. A measure of prices paid for raw materials showed slightly faster inflation.
Bookings contracted by the most in three months and have been shrinking for the past five months, likely a reflection of higher tariffs and a general slowdown in the economy. An index of order backlogsfell 2.8 points, the most in a year, to 44.3. Backlogs have contracted a record 33 straight months.
…
Select ISM Industry Comments
“Business has notably slowed in last four to six weeks. Customers do not want to make commitments in the wake of massive tariff uncertainty.” — Fabricated Metals“The biopharmaceutical space is starting to see more pronounced headwinds: Stock prices have significantly eroded, companies are facing hiring freezes, and so on.” — Chemical Products
“The tariff mess has utterly stopped sales globally and domestically. Everyone is on pause. Orders have collapsed.” — Machinery
“Tariff volatility has impacted machinery, steel and specialized components. Also, potential shortages of skilled labor for construction, maintenance and installation.” — Food, Beverage & Tobacco Products
“Tariffs continue to cause confusion and uncertainty for long-term procurement decisions. The situation remains too volatile to firmly put such plans into place.” — Computer & Electronic Products
“Tariffs, chaos, sluggish economy, rising prices, Ukraine, Iran, geopolitical unrest around the world — all make for a landscape that is hellacious, and fatigue is setting in due to dealing with these issues across the spectrum.” — Primary Metals
“The word that best describes the current market outlook is ‘uncertainty.’ The erratic trade policy with on-again/off-again tariffs has led to price uncertainty for customers, who appear to be prepared to hold off large capital purchases until stability returns. This has resulted in further reductions in customer demand and softening sales for the balance of 2025.” — Transportation Equipment
sturg33
I
Quite a jobs report!
30% lower than 2024.
92% of jobs created were government, Healthcare, or services
Manufacturing declined again
chop2chip
Well-known member
Deeply ashamed you weren’t here for the Thunder
First of many for the NBA's next dynasty.
Just scratching the surface even though game 7 left a bitter taste in my mouth from Hali injury.
Hope all is well my friend.