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Banned
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
Everyone on this insane forum is working a full time job but it has to be a lie outside of here!
If you don't trust what the Bureau of Stats is throwing out, then look into the revenue of individual businesses. Ones that the entire country uses. Amazon, Google, Walmart, Starbucks, Chipotle, etc. Or is everyone in on the sham?
This dude is so mad right now
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High School Varsity 6th Man
Re: Stock market panic around the world due to fears about the US entering a recessio
Even with yesterday's overreaction, the S&P is up 16.5% on the year. That is a reflection of how businesses have done even if some are overvalued and need a correction.
Is that all one big lie too?
They could lie about one or two numbers, but you can't lie about them all.
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College superstar
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
Everyone on this insane forum is working a full time job but it has to be a lie outside of here!
If you don't trust what the Bureau of Stats is throwing out, then look into the revenue of individual businesses. Ones that the entire country uses. Amazon, Google, Walmart, Starbucks, Chipotle, etc. Or is everyone in on the sham?
You're darn right I don't trust them - who would trust any stats that are 11/12 months wrong (last year) and (this year) 279,000 jobs off (and only 7 months have gone by). If you trust those stats, smh. And it's this job report that set off the 2 days of world-wide panic/selling.
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College superstar
Re: Stock market panic around the world due to fears about the US entering a recessio
Going by some of you on this board, the economy is just honky-dory, and Biden belongs on Mt. Rushmore.
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High School Varsity 6th Man
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by rmt
the economy is just honky-dory
yes
Originally Posted by rmt
and Biden belongs on Mt. Rushmore.
no
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High School Varsity 6th Man
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College superstar
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
https://finance.yahoo.com/news/starb...201918696.html
Believe it on not but Starbucks is actually a very decent indicator of the state of the economy. Because when people are really struggling one of the first things to go is their $8 overpriced iced-mocha-latte. And this is during a time when many are boycotting Starbucks. We can see their is a small dip at the start of 2024 but it is still selling near all time highs and still trending upward.
These are the type of things you can look into if you do not believe the overall numbers.
Amazon is another great indicator, when people are struggling they will pause when making that frivolous purchase.
People are buying more junk than ever before.
I do not agree. The way I see Starbucks is that people (ESPECIALLY YOUNG PEOPLE) have given up hope - hope of getting ahead, of being able to afford kids, car, house while paying off student debt and are just living FOR THIS (indulgent) MOMENT.
Amazon is completely different - it is virtually a monopoly - for ease of buying, same day delivery, convenience, reviews, variety - it cannot be beat. I've tried to separate from it and have given up - not when all my kids and their room mates can order what they need and get it delivered at their doorsteps the next day.
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High School Varsity 6th Man
Re: Stock market panic around the world due to fears about the US entering a recessio
It doesn't matter if Amazon is a monopoly or not (it's not), that doesn't mean that the entire population has to spend more money there. Oh well I tried, have fun living in your false great depression and letting everyone know how hard it is on your new iphone.
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The Truth Is Out There
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by rmt
I do not agree. The way I see Starbucks is that people (ESPECIALLY YOUNG PEOPLE) have given up hope - hope of getting ahead, of being able to afford kids, car, house while paying off student debt and are just living FOR THIS (indulgent) MOMENT.
Amazon is completely different - it is virtually a monopoly - for ease of buying, same day delivery, convenience, reviews, variety - it cannot be beat. I've tried to separate from it and have given up - not when all my kids and their room mates can order what they need and get it delivered at their doorsteps the next day.
Their is so much right with the above post. The global elite want us to feel this way and that's exactly what is happening. The youth have never had these things in mass, it's harder to want to fight for something you've never had anyway. Most will capitulate to the globalists. It's ok though because the globalists are on the side of social justice as long as we don't pay attention to the really important stuff
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3-time NBA All-Star
Re: Stock market panic around the world due to fears about the US entering a recessio
The Trump campaign says Walz is a bad pick because he restored voting rights for convicted felons.
Donald Trump is a convicted felon.
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Whap'em
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
https://finance.yahoo.com/news/starb...201918696.html
Believe it on not but Starbucks is actually a very decent indicator of the state of the economy.
These are the type of things you can look into if you do not believe the overall numbers.
People are buying more junk than ever before.
Amazon is a whole chapter by itself because they're a growth company that does a lot more than just sell junk and have been moving into multiple sectors. I did look into Starbucks though, being the decent indicator that you say it is.
Because when people are really struggling one of the first things to go is their $8 overpriced iced-mocha-latte. And this is during a time when many are boycotting Starbucks. We can see their is a small dip at the start of 2024 but it is still selling near all time highs and still trending upward.
That's true to an extent, but a lot of mid level and middle management workers, buying Starbucks both provide coffee(and often sugar) as well as status and clout, both at the office and on social media. In that context a 6-8$ expense is cheap and you're giving people way too much credit for being economically responsible. Starbucks have been very good at creating their brand to give this effect, which is why they have a base of very loyal customers.
Nonetheless, given inflation and increase on item prices since 2019, they don't look to be selling more from the chart you posted. Add a population increase since 2019 to that as well and it looks even more dull.
But what did Starbucks themselves say last week?
Starbucks sales dropped 3% globally at stores open for at least a year, including a 2% drop in its home North America market. And that masked how steep the decline was for Starbucks last quarter: Total transactions at North American stores open at least a year fell 6% in the quarter. That was offset, in part, by higher prices.
In other words: Fewer people are going to Starbucks and buying drinks and food. It was Starbucks’ second-straight quarter of sales declines.
https://edition.cnn.com/2024/07/30/i...les/index.html
They seem to realize that just keep yanking the prices up isn't sustainable, so instead they've decreased the size of their items and now introduced value meals while focusing on technology to be able to serve more customers. I wouldn't suprised if they'd also lowered the quality of some ingredients for cheaper production.
https://www.reddit.com/r/starbucks/c...shrinkflation/
Starbucks, using a play from fast food chains, is trying to win back customers with value menus. The chain recently rolled out a new “Pairings Menu,” which combines a drink and a breakfast item for either $5 or $6. The company said Wednesday that the pairings menu experiment is paying off, and multi-item orders are surging.
Down 25% in company value over the last 12 months, 6% fewer transactions just in the last quarter, and to make up for it they've put in a strategy to try and be able to service more people through cost effecient measures. You're right, that does sound like a decent indicator of the current US economy.
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High School Varsity 6th Man
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by ZenMaster
Amazon is a whole chapter by itself because they're a growth company that does a lot more than just sell junk and have been moving into multiple sectors. I did look into Starbucks though, being the decent indicator that you say it is.
That's true to an extent, but a lot of mid level and middle management workers, buying Starbucks both provide coffee(and often sugar) as well as status and clout, both at the office and on social media. In that context a 6-8$ expense is cheap and you're giving people way too much credit for being economically responsible. Starbucks have been very good at creating their brand to give this effect, which is why they have a base of very loyal customers.
Nonetheless, given inflation and increase on item prices since 2019, they don't look to be selling more from the chart you posted. Add a population increase since 2019 to that as well and it looks even more dull.
But what did Starbucks themselves say last week?
https://edition.cnn.com/2024/07/30/i...les/index.html
They seem to realize that just keep yanking the prices up isn't sustainable, so instead they've decreased the size of their items and now introduced value meals while focusing on technology to be able to serve more customers. I wouldn't suprised if they'd also lowered the quality of some ingredients for cheaper production.
https://www.reddit.com/r/starbucks/c...shrinkflation/
Down 25% in company value over the last 12 months, 6% fewer transactions just in the last quarter, and to make up for it they've put in a strategy to try and be able to service more people through cost effecient measures. You're right, that does sound like a decent indicator of the current US economy.
I acknowledged the downturn starting in 2024, but it has now corrected itself, again during a time when Starbucks is supposedly being boycotted.
I do appreciate the thought out reply, however it's missing the big picture. The contention is that all of the economic indicators out there are a lie, and we are secretly living in a recession where everyone is suffering. Basically that everything has gone to shit since Biden and Harris took over and they are masking it with fake numbers.
So while there have been bumps in the road for Starbucks, they have still grown considerably since covid, and since Biden was in office.
They are now a much bigger and wealthier beast than they were pre-covid. Sure you can point to bumps in the road, but that ignores the elephant in the room, they have grown at a dramatic pace and that just wouldn't be the case in the event of a bad recession.
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81 on the Raptors
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
I acknowledged the downturn starting in 2024, but it has now corrected itself, again during a time when Starbucks is supposedly being boycotted.
I do appreciate the thought out reply, however it's missing the big picture. The contention is that all of the economic indicators out there are a lie, and we are secretly living in a recession where everyone is suffering. Basically that everything has gone to shit since Biden and Harris took over and they are masking it with fake numbers.
So while there have been bumps in the road for Starbucks, they have still grown considerably since covid, and since Biden was in office.
They are now a much bigger and wealthier beast than they were pre-covid. Sure you can point to bumps in the road, but that ignores the elephant in the room, they have grown at a dramatic pace and that just wouldn't be the case in the event of a bad recession.
Considering inflation is over 50% for most goods compared to as pre-covid, starbucks is actually doing worse than before.
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Whap'em
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
I acknowledged the downturn starting in 2024, but it has now corrected itself, again during a time when Starbucks is supposedly being boycotted.
I do appreciate the thought out reply, however it's missing the big picture.
It's yourself who's missing the big picture. Their company value is down 25% in the last year, same valye as they were at 5 years ago and they haven't been growing their profits, only their revenue. They know they can't keep it up because they'll burn out the brand as more and more people would stop buying.
As they've changed their strategy into $5-6 combo value meals, the whole premise of using Starbucks as an example of the economy changes as well. The discussion is no longer whether or not Americans are doing so well that everyone are good paying $8 for coffee, but $5-6 combos at lower quantity and quality.
The contention is that all of the economic indicators out there are a lie, and we are secretly living in a recession where everyone is suffering. Basically that everything has gone to shit since Biden and Harris took over and they are masking it with fake numbers.
Economic indicators are built around growth in volume of corporate profits, which doesn't necessarily affect the economy positively of individuals in the general work force.
A relevant example of that is high levels of immigration. Say the government gives someone asylum and startup money to get situated, find a place to live etc, they do this by using tax payer money. At some point that new citizen is likely to need a loan, which is given by a private entity. That loan has interests and the entity is now making profit which contributes to the GDP, but took money away from the tax payers.
And as rmt has already shown you, numbers for new jobs can be manipulated in how they're presented.
So while there have been bumps in the road for Starbucks, they have still grown considerably since covid, and since Biden was in office.
They are now a much bigger and wealthier beast than they were pre-covid. Sure you can point to bumps in the road, but that ignores the elephant in the room, they have grown at a dramatic pace and that just wouldn't be the case in the event of a bad recession.
If you increase your prices by 35% while cutting down some item sizes e.g by10% and you only end up with 15% more revenue, you're not doing well and like I said you're burning off the brand putting it into a slow death. I posted for you the article where Starbucks themselves acknowledge this and they're no longer the Starbucks of old, but a discounted version now trying to beat out the competition by not having lines at their drivethrus.
Last edited by ZenMaster; 08-06-2024 at 08:05 PM.
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Good college starter
Re: Stock market panic around the world due to fears about the US entering a recessio
Originally Posted by Bill Gates
It doesn't matter if Amazon is a monopoly or not (it's not), that doesn't mean that the entire population has to spend more money there. Oh well I tried, have fun living in your false great depression and letting everyone know how hard it is on your new iphone.
ok ill make sure to let all my employees know they're doing better than ever and their dollar buys more than it ever has.
what you think their response will be? Why are they asking for gas cards lmao? Is it because they got all this extra spending money?
how about we stop comparing things to the top 5 largest companies in the world that will cut 50k employees to ensure profits remain the same... and compare it to your average mom and pop place shall we?
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