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Citi: World economy seems trapped in 'death spiral'

Erod said:
But last night Bernie and Hillary were going on about how they were going to fix the economy, bring back the jobs, and restore the middle class.

Which is it?
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It's what I posted.

No way to predict how technology will change how our economy works but I think will have to institute a tax on wealth and institute a guaranteed minimum income like the uber capitalist Swiss almost did last year.
 
All kinds of things could happen. Say for instance some American company mastered cold fusion. Sure they'd deserve several billion for their efforts and perhaps a royalty but I'm pretty sure we all agree that the technology would and should be nationalized by the US govt.
 
Fenton said:
Yup,

When the American economy suffers so do the major economies of the world.

We're a huge mass of consumers.

But we still have Lib posters who still claim we're in the midst of some great economic upturn.
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And it's a mystery why with all these consumers stuck in decades of stagnant or declining wages why there isn't robust growth in demand for goods and services.... It's why all this talk of growing worldwide inequality is just nonsense. I'm pretty sure the GOP plan of more tax cuts it just the ticket.
 
Soho gator said:
It's what I posted.

No way to predict how technology will change how our economy works but I think will have to institute a tax on wealth and institute a guaranteed minimum income like the uber capitalist Swiss almost did last year.
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Sweden? You want Sweden here? Have you been watching the colossal cluster**** Sweden has become?
 
Erod said:
Sweden? You want Sweden here? Have you been watching the colossal cluster**** Sweden has become?
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You are "conservative" so your confusing the Swiss withe the Swedes is understandable.
 
Soho gator said:
You are "conservative" so your confusing the Swiss withe the Swedes is understandable.
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This is the same CITI group that had to get billions of dollars in bailouts. I have 0 faith in their ability to predict the market.
 
reinoe said:
This is the same CITI group that had to get billions of dollars in bailouts. I have 0 faith in their ability to predict the market.
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Are you kidding?



They were clever enough to convince our government to just GIVE them billions of dollars, most of which, went towards bonuses.
 
Here's the real deal. The economy either looks like a disaster, or a miracle, depending one which facet of it you focus on.

For instance, stocks are still solid, and corporate profit margins are constantly setting new records.


Well, that's GREAT!!! AmiRight?

But wait, what about everyone else? Well, public sector employees are still tightening their belts, well past the point of no longer being able to draw breath, in many states, ESPECIALLY the "red" ones, while private sector employees have had the same wages, when adjusted for inflation, for the last, oh, I don't know....30 years? Which, is fine, I guess....no, wait, cost of living has tripled in that time, so...no, not so much.


On one hand, you have a party that thinks that the way out, the way forward, is to cut taxes on people who are assumed to be employers...that is to say, wealthier. Which is strange, because all that means is, they get a larger bonus check. No one in the history of ever has hired people simply because they have more money to do so...they hire people because they need extra workers.

On the other hand, you have the other party capitulating to the leader, trying to hold him up as a god like being, simply because, like the catholic church, one should never admit fault. So, naturally, for the "good of the party", they decry our economy as "all better!".

Truth is, the economy is GREAT for a small and shrinking group of people, but then, it was ALWAYS great for that group. Were millionaires being foreclosed on in 2009? By, the economy was bad, all it meant for this group was, 3 ferraris, instead of 5.

The economy is...not quite horrible, but certainly not very GOOD, for a very large group of people, who are decreasing in size EVERY SINGLE DAY. These people where hit, and hit hard, and continue to be hit hard.

And last, the economy is absolutely horrible for a small, but quickly growing group of people, who can't and won't find a job that pays more than 13$ an hour, for more than 24 hours per week. THIS group is our future, they represent the future our children WILL face, should we choose to ignore the problem, or refuse to admit that old ways of thinking are not going to provide any sort of viable solution.
 
KevinKohler said:
Are you kidding?



They were clever enough to convince our government to just GIVE them billions of dollars, most of which, went towards bonuses.
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In 2015, Citigroup plead guilty to criminal charges of currency market manipulation....but were allowed to continue business as usual. They're very clever at manipulating the system. I wouldn't be surprised if they tried to crash the economy just to prove their analysts right.
 
Carjosse said:
It is not 10$ a gallon, it is 10$ a barrel, oil prices would still be incredibly low because if you haven't noticed they are pretty much bottoming out.
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a $10 fee on each barrel is a 30% increase in oil price, according to current prices.

that equates to about a minimum $.40 increase, per gallon, on the price of gasoline.( based on the correlation of oil prices and gas prices, excluding refinery/capacity interruptions, geographical additive requirements, etc. etc etc)
in places like California, there would be a more significant increase, due to their geographical requirements....

of course, the increase isn't dealt out overnight, it takes 3-6 weeks for the prices increases to hit the pump.

that's not to say gas prices couldn't' come down... but that would take oil prices taking catastrophic hits on the market.
 
Just a thought, other than the lower prices at the pump has anyone seen the lowering of prices on other goods, me thinks not. And while we are at it seen a whole lot of new production and manufacturing starting up, nope nothing new there either. So, while paying less at the pump is nice if we are expecting a boom in the economy we are fooling ourselves.
 
Jetboogieman said:
Sounds to me like citi should fire these people.

These people seem to be allowing immediate concerns to cloud their entire strategic outlook.

Yes China's economic slowdown is a issue, yes lower oil prices aren't good for everyone, yes there seems to be a general trend toward stagnant global economic growth...

But just on the horizon, I'm telling you folks, there is a technological revolution coming, the likes of which will render our current lives unrecognizable within the next five to fifteen years timeframe I estimate.

We've already seen it happen, the world I began to really take notice of when I was a young lad around 2002... Is completely different.

Do not underestimate the rapid pace of technological progress to transform the current gloomy economic outlooks.
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Let's take one step at a time. First the economic blow out and then some staggering growth.
 
RetiredUSN said:
Ask a businessman with a fleet of cars, or a trucker, what 10 cents a gallon can cost over a years time.
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I am a business man that uses UPS a lot. I'm being gouged with fuel surcharges with fuel at record lows.
 
EnigmaO01 said:
I am a business man that uses UPS a lot. I'm being gouged with fuel surcharges with fuel at record lows.
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You mistake fedex and UPS protecting their margins with fuel surcharges. I used to do a lot of import export from China and Vietnam. Haven't done it recently but bulk freight rates (containerized shipping) have collapsed. It's all about competition the aforementioned are basically a cartel with wide moats.
 
Jetboogieman said:
Sounds to me like citi should fire these people.

These people seem to be allowing immediate concerns to cloud their entire strategic outlook.

Yes China's economic slowdown is a issue, yes lower oil prices aren't good for everyone, yes there seems to be a general trend toward stagnant global economic growth...

But just on the horizon, I'm telling you folks, there is a technological revolution coming, the likes of which will render our current lives unrecognizable within the next five to fifteen years timeframe I estimate.

We've already seen it happen, the world I began to really take notice of when I was a young lad around 2002... Is completely different.

Do not underestimate the rapid pace of technological progress to transform the current gloomy economic outlooks.
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oh this revolution will transform our lives - computers will generalized intelligence superior to humans will find cures for diseases and basically do problem solving for us - but in economic terms, it will do far more harm than good. Even cab drivers are ****ed soon. Yeah, some corporations like citi might thrive, but that should be so far down our concerns when human labor will plummet
 
EnigmaO01 said:
Sounds like a good way to tighten up a shortfall of infrastructure funds.
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Not throwing money away by the truck loads would be a good start rather than sticking the govt hand further in my wallet.
 
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