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Old 05-16-2020, 04:34 PM
 
4,817 posts, read 5,994,909 times
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Back in February, it was over $2/gallon for gas. I spend about $1.50/gallon. It's been years, since I have seen gas prices this low.
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Old 05-16-2020, 04:50 PM
 
Location: Baltimore, MD
3,983 posts, read 4,507,725 times
Reputation: 7404
Quote:
Originally Posted by PamelaIamela View Post
I live in FL and I don't have internet.. I use a can and string to access websites.

But seriously, I wasn't about to commence a full on deconstruction/construction effort with strangers coming and going left and right just as this mess was ramping up.
And I rarely buy clothes online, if I buy them at all any more.

Everyone spends differently.
Younger folks collect stuff... older folks who have everything they need (and little that they don't) collect experiences.
Like foreign travel, day trips incl. gasoline, card parties, movie outings, tea dances, football tailgate parties, tribute bands, museums, live opera and musicals, jazz and comedy clubs, weddings and birthdays, cooking classes, pickleball socials, dinner parties, restaurant dates, spas for massages, manicures & pedicures, housecleaning, haircuts, kayaking, fishing,...
See what I mean?

(P.S. This may shock you, but everyone didn't get 'stimulus money'.)
Pamela, do you live in a retirement community? Tea Dances...Pickleball Socials...etc. I've never heard of these activities.
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Old 05-16-2020, 04:52 PM
 
1,988 posts, read 503,478 times
Reputation: 3196
Quote:
Originally Posted by mathjak107 View Post
...only historians repeat themselves...
And I finally got it... you're a historian!
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Old 05-16-2020, 06:51 PM
 
Location: Riverside Ca
20,895 posts, read 23,285,166 times
Reputation: 32190
Quote:
Originally Posted by k374 View Post
Although I don't see prices plunging I am seeing salaries absolutely plunging with extreme low ball offers... in my field I've already seen some job postings on LinkedIn with increased skill demands and at the same time with salary ranges 30-50% off what they were in January. This may seem ridiculous but that isn't stopping companies from trying their luck to see if there is anyone desperate enough to take these jobs.
Who will leave as soon as there is a better offer.

Quote:
Originally Posted by ukrkoz View Post
VERY strong behavioral pattern was embedded into the US common folk. Very strong. For several generations, and rather successfully, ever since consumer credit was unleashed even exponentially more, people became accustomed to buying. Spending. not saving. Living via debt. "living the moment", Life is short, live it to the utmost extent", "enjoy anything you want to" became in blood of folks.
That result sin HUGE momentum that can't be broken down by few months. No one from this crowd quits such habits cold. It will take longer than that to slowly realize - shoot, I can't buy new ..... just because it was just released.

Consumer demand drives economy. There is demand = prices do not go down, they go up.

There is no demand = prices go down. Deflation starts.

Also, do not forget another momentum.
Economy sector satisfying consumerism was, for same period of time, based on "prices go up". THAT got embedded in that side of economy and, will take time to rid of too.
Eventually, all this will come to screeching halt. What will be Gigernomous Depression.
Yes, Mathjack. History does repeat itself. Just at higher level. Current crisis is very much so similar to one in the 2oth century 20s-30s. Just at another and much higher level. Global.

Meh. There are still plenty of people who aren’t into the buy everything in sight attack mode. Sure everyone would be impacted by such Ginormous Depression but there will stilll be plenty of people who will make out. One mans tragedy is another mans success.
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Old 05-16-2020, 09:39 PM
 
1,910 posts, read 708,760 times
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Quote:
Originally Posted by lenora View Post
Pamela, do you live in a retirement community? Tea Dances...Pickleball Socials...etc. I've never heard of these activities.
Yes, but except for the pickleball stuff, everything else I do is outside the community.
I entertain a bit .. but I also drive around a lot.
Or used to.
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Old 05-16-2020, 11:14 PM
 
105 posts, read 52,476 times
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Quote:
Originally Posted by PamelaIamela View Post
Yes, but except for the pickleball stuff, everything else I do is outside the community.
I entertain a bit .. but I also drive around a lot.
Or used to.
The description (above) sounds so...quaint! I want to live there, too.
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Old 05-17-2020, 03:10 AM
 
Location: Honolulu, HI
7,144 posts, read 2,361,067 times
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Quote:
Originally Posted by NJ Brazen_3133 View Post
Because this current pandemic is no reason to lower the prices. There is no drop in demand for goods or services.
That’s correct, people are simply buying those goods and services from online vendors.

It’s funny when folks think closing down brick and mortar stores is enough to stop the demand of goods and services.

Clothes, shoes, TVs, iPhones, electronics, computers, gym equipment, etc. people are still buying it all.
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Old 05-17-2020, 07:35 AM
 
10,548 posts, read 4,580,802 times
Reputation: 2158
Quote:
Originally Posted by Rocko20 View Post
That’s correct, people are simply buying those goods and services from online vendors.

It’s funny when folks think closing down brick and mortar stores is enough to stop the demand of goods and services.

Clothes, shoes, TVs, iPhones, electronics, computers, gym equipment, etc. people are still buying it all.
There have certainly been very severe drops in some demands.
Personal care services.
Restaurants.
Transportation.
Any venue requiring large gatherings.
Hospitals where there have not been hot spots.
To name just a few...
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Old 05-17-2020, 10:23 AM
 
1,988 posts, read 503,478 times
Reputation: 3196
Quote:
Originally Posted by vision33r View Post
It has always been about supply and demand, the OP probably is a college drop out.
Well, I think anyone who can make such a statement is the better candidate. After all, as Pope put it—

Quote:
A little learning is a dangerous thing ;
Drink deep, or taste not the Pierian spring :
There shallow draughts intoxicate the brain,
And drinking largely sobers us again.
I find that those who never seemed to learn anything past one semester of Econ are the ones most adamant about how things "should work," and those who have gone on to figure out how those whiteboard maxims actually work in the real world post questions like, well, the OP's.

The element that the first group can't seem to grasp is that the timeline for this crisis has been accelerated at warp speed: there simply hasn't been time for "supply and demand" (P&B) to work its course.

So it's a good question. Getting some dumb-ass responses.

It's been just over two months. ETA: And gosh, the stock market is not the economy.

Last edited by Therblig; 05-17-2020 at 11:20 AM..
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Old 05-17-2020, 11:06 AM
 
4,817 posts, read 5,994,909 times
Reputation: 6269
Quote:
Originally Posted by Rocko20 View Post
That’s correct, people are simply buying those goods and services from online vendors.

It’s funny when folks think closing down brick and mortar stores is enough to stop the demand of goods and services.

Clothes, shoes, TVs, iPhones, electronics, computers, gym equipment, etc. people are still buying it all.
Online sales did not make up the difference. Total retail sales including online sales are down over 16% from March to April.

https://apnews.com/e95a6d2d0a721fcffb4efb9435b84f4f
Quote:
BALTIMORE (AP) — U.S. retail sales tumbled by a record 16.4% from March to April as business shutdowns caused by the coronavirus kept shoppers away, threatened the viability of stores across the country and further weighed down a sinking economy.

The Commerce Department’s report Friday on retail purchases showed a sector that has collapsed so fast that sales over the past 12 months are down a crippling 21.6%. The severity of the decline is unrivaled for retail figures that date back to 1992. The monthly decline in April nearly doubled the previous record drop of 8.3% — set just one month earlier.

The sharpest declines from March to April were at clothing, electronics and furniture stores. A long-standing migration of consumers toward online purchases is accelerating, with that segment posting a 8.4% monthly gain. Measured year over year, online sales surged 21.6%.

Other than online, not a single retail category was spared in April. Auto dealers suffered a monthly drop of 13%. Furniture stores absorbed a 59% plunge. Electronics and appliance stores were down over 60%. Retailers that sell building materials posted a drop of roughly 3%. After panic buying in March, grocery sales fell 13%.

Clothing-store sales tumbled 79%, department stores 29%. Restaurants, some of which are already starting to close permanently, endured a nearly 30% decline despite shifting aggressively to takeout and delivery orders.
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