Will the shit hit the fan? Economically?

Roger A. Shrubber

Roger A. Shrubber

Well-Known Member


https://www.thestreet.com/retailers/walgreens-is-closing-150-stores-everyone-should-worry

I don't think everyone should worry, at least about Walgreen's closing some stores. Many retail businesses seem to act like the last 5 years has been anything close to normal, when it has been a totally artificial bubble, kept inflated by stimulus money. They kept acting like they were operating in normal conditions, raising their prices to suck up all that extra cash, while not passing one fucking penny of it along to their retail employs. Now, the pandemic is over, whether it ought to be or not, the global supply chain backups have been pretty much dealt with, and they're still charging those inflated prices...Because while EVERY retail chain in the country was eager to absorb as much of that stimulus money as possible, they will never go back to their prices before this, even though all their justifications for raising prices are no longer even semi valid.
Walgreen's, in particular, charges MUCH more than either the local grocery stores or walmart for almost everything they sell...25 to 50% more for almost everything in their stores here. We have 3 Walgreen's within 5 miles of each other, and numerous other pharmacies...they could close two and i wouldn't give a shit.
A greedy retailer putting people out of work so their share holders can continue to rake in inflated, bloated profits IS something to worry about, so at least they got one thing right.
 
BudmanTX

BudmanTX

Well-Known Member
sup Rog, love the music this early in the morning......

with walgreens...you might wanna look up Walgreens Lawsuits....they were sued for the opium ep and they lost out big time throughout the US....might be a reason the stores are closing and they're prices are higher than normal........js
 
printer

printer

Well-Known Member
cannabineer said:
The stock market has behaved in ways that continue to baffle me.
Click to expand...
Banks would lose $541 billion in ‘hard landing’ contingency: Fed
The Federal Reserve said Thursday that banks are well capitalized enough to endure a severe recession but stand to lose $541 billion if the economy heads south.
The findings came from the Fed’s annual stress test of the banking sector, which is based on major hypothetical declines in economic conditions, including a 40-percent drop in real estate prices and widespread office vacancies.

“The $541 billion in total projected losses includes over $100 billion in losses from commercial real estate and residential mortgages,” Fed officials found, noting the loss would represent a 2.3-percentage point decline in total capital.
Bank of America would lose $54 billion, Capital One would lose $46 billion, and JPMorgan Chase would lose $72.9 billion. Altogether, the top 23 banks would lose more than $424 billion in loans, the Fed said.
Fed regulators failed to spot a major bank run earlier this year when Silicon Valley Bank (SVB) went under from basic interest rate exposure risk, drawing ire from lawmakers in both parties.

House Financial Services Committee Chairman Patrick McHenry (R-N.C.) called out “regulators’ lack of basic supervision and enforcement of safety and soundness rules, regulations, and principles.”
McHenry and Senate Banking Committee ranking Republican Sen. Tim Scott (S.C.) said the situation suffered from “glaring mismanagement.”
Top House Financial Services Democrat Maxine Waters (D-Calif.) said in March that “Silicon Valley Bank collapsed because of management failures and possible regulatory weaknesses.”

Fed regulators also blamed themselves, perceiving a “shift in culture and expectations from internal discussions and observed behavior that changed how supervision was executed.”

However much banks would lose in the event of a serious economic downturn, regular Americans stand to lose a lot more.
The Fed’s hard-landing projections put the unemployment rate rise to 10 percent, which would mean about 10 million more people out of work. Current employment levels are still near record highs, with 3.7 percent of the total U.S. workforce currently looking for a job.

Under the stress test conditions, disposable incomes fall into “the trough experienced in the 2007–09 Global Financial Crisis.”
thehill.com

Banks would lose $541 billion in ‘hard landing’ contingency: Fed

The Federal Reserve said Thursday that banks are well capitalized enough to endure a severe recession but stand to lose $541 billion if the economy heads south. The findings came from the Fed’s ann…
thehill.com thehill.com
 
Lucky Luke

Lucky Luke

Well-Known Member
Bear market = Buy,
As i said a year ago its going to be a tough 5 years.
I'm up just over 8% this year but inflation is 7%. House went up at least 10% though. -approx. 4% overall = Not terrible
 
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HGCC

HGCC

Well-Known Member
Idk, I'm curious to see what happens if they start student loan payments up again, lots of people are already stretched thin so maybe it breaks.

By standard measures of being 20% off the lows, the bear market ended earlier this month. It was the weirdest feeling bear market I could imagine though, and sure hasn't felt like much of a recovery from it.

Housing prices have dipped slightly on the interest rate increases, but are more unaffordable than ever since that price decrease was not at all enough to offset the increase in cost due to rates. That's just a giant nightmare brewing.

@LuckyLuke saw this the other day, I tend to concur. https://www.smh.com.au/politics/federal/corporate-profits-heat-up-inflation-oecd-20230607-p5deou.html
 
Lucky Luke

Lucky Luke

Well-Known Member
cannabineer

cannabineer

Ursus marijanus
Lucky Luke said:
For sure. Even super markets have put their prices up above any cost increase they have faced. Corps are profit gouging.
Eg i see at the supermarket is the price of meat has risen quiet a bit but i get my meat straight from a farmer and im still paying 2021 prices.
Click to expand...
Using 10 lb (4.5 kg) prepackage of ground beef from Walmart (the 800 lb* gorilla of US retail) as a reference, 2021 prices were 2x pre-pandemic. Most days the big packs were not in stock.

We’re still at 180% of the Feb 2020 price.
Single-digit inflation is not my reality.

Effective price of residential electricity per kWh doubled in that time.

*appx 360 kg
 
Lucky Luke

Lucky Luke

Well-Known Member
cannabineer said:
Using 10 lb (4.5 kg) prepackage of ground beef from Walmart (the 800 lb* gorilla of US retail) as a reference, 2021 prices were 2x pre-pandemic. Most days the big packs were not in stock.

We’re still at 180% of the Feb 2020 price.
Single-digit inflation is not my reality.

Effective price of residential electricity per kWh doubled in that time.

*appx 360 kg
Click to expand...
I pay $13.50kg for a dressed beast and $280 for a dressed lamb delivered. (Grass fed)

My electricity price is going up nearly 10% this year. Not as much as the mainland price hikes but in reality its only going up due to us choosing to be part of the national grid-which we profit from by selling them energy. The cost of producing the electricity hasn't gone up.
" Power bills for Tasmanian households will increase by 9.51 per cent from July, an increase of $200 a year on the average bill "
It went up 11% last year.

I've increased some of my pricing this financial year (which starts today) and increased some also at the start of this year.

Some countries are facing higher inflation than others but profiteering is happening in them all id wager.
 
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cannabineer

cannabineer

Ursus marijanus
Lucky Luke said:
I pay $13.50kg for a dressed beast and $280 for a dressed lamb delivered. (Grass fed)

My electricity price is going up nearly 10% this year. Not as much as the mainland price hikes but in reality its only going up due to us choosing to be part of the national grid-which we profit from by selling them energy. The cost of producing the electricity hasn't gone up.
" Power bills for Tasmanian households will increase by 9.51 per cent from July, an increase of $200 a year on the average bill "

I've increased some of my pricing this financial year (which starts today) and increased some also at the start of this year.
Click to expand...
how much meat in that lamb? I love me some loin chops.
 
cannabineer

cannabineer

Ursus marijanus
Lucky Luke said:
It varies of cause but about 20-25 kilos ( approx 50 pounds).
I love BBQ loin chops with lemon pepper seasoning or better still Italian herb seasoning. Not much meat on the little buggers but they taste so damn good.
Click to expand...
A Sicilian taught me a great recipe.

Juice 1/2 large lemon (about, need to make enough paste for 6 chops)
3 large garlic cloves, creamed
1 tap salt
1 tap peppercorns freshly ground
Basil, dry - a lot, 3 Tbs to start, enough to make a paste

Cover every surface of the chop with the paste. Ideally let stand for two or three hours.

Stand on end (foil-lined pan) and bake at 350 (175 C) for 25 to 35 minutes, until cooked but pink.

I use a coffee mill to grind the pepper. Fresh-ground pepper smells unique. The salt and garlic in a mortar makes a good pungent gluey paste. I press the garlic first. You want the amount of basil to be right to make a paste that sticks and neither runs nor crumbles off. It takes ten minutes for the basil to hydrate, so I add juice or dry basil to adjust its consistency.

Serve with a big red wine
 
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Lucky Luke

Lucky Luke

Well-Known Member
cannabineer said:
A Sicilian taught me a great recipe.

Juice 1/2 large lemon (about, need to make enough paste for 6 chops)
3 large garlic cloves, creamed
1 tap salt
1 tap peppercorns freshly ground
Basil, dry - a lot, 3 Tbs to start, enough to make a paste

Cover every surface of the chop with the paste. Ideally let stand for two or three hours.

Stand on end (foil-lined pan) and bake at 350 (175 C) for 25 to 35 minutes, until cooked but pink.

I use a coffee mill to grind the pepper. Fresh-ground pepper smells unique. The salt and garlic in a mortar makes a good pungent gluey paste. I press the garlic first. You want the amount of basil to be right to make a paste that sticks and neither runs nor crumbles off. It takes ten minutes for the basil to hydrate, so I add juice or dry basil to adjust its consistency.

Serve with a big red wine
Click to expand...
Garlic and pepper is always a win.
That sounds lovely. Would look good plated if doing a Crown roast of Lamb as well.

I'm having lamb cutlets for dinner tonight.20230701_155909.jpg
 
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