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Old 05-08-2020, 09:49 AM
 
1,963 posts, read 495,223 times
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Quote:
Originally Posted by TaxPhd View Post
Why don’t you tell us all about how the current situation has somehow rendered the laws of supply and demand null and void, and how traditional economics can’t explain what is currently happening, let alone answer the OP’s question.
Ha ha ha... "laws." You aren't really grasping a word I'm saying, are you, O in-doc-trinated one?

Nothing — nothing involving human behavior can have 'laws.' Get back to me when you even begin to grasp the shape of that.

But I'm happy to say the rules of supply and demand will likely apply just fine... when seen in retrospect, six months or a few years or more from now. They are persistent and strong, if not the bedrock fact economists would like to believe so much of their dismality is based on.

But being able to point backward and preach "See? See?" with your thrumbs in your lapels isn't quite the same thing as being able to judge and predict what's happening now or in the shorter term... because the madness of human behavior under stress mean those neat diagrams and straight lines on the whiteboard don't mean sheeeyiiiit. Neither supply nor demand nor the threads that connect them are following any 'law' and are largely ignoring the 'rules'... because the dominant mode of human behavior right now is panic and uncertainty, and — once again — no matter how much the learned ones might be able to analyze everything after the fact, nothing in your toolbox allows accurate interpretation now.

But the Judge Dredd "I am de lawwwww!" is good for a laugh, thanks.
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Old 05-08-2020, 09:52 AM
 
Location: Omaha, Nebraska
8,813 posts, read 5,077,644 times
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Quote:
Originally Posted by Hoonose View Post
Run your vehicle though. My Highlander's battery was dead the other day. Last time I drove it maybe mid March, and the battery is new this year.
Good advice. I've been taking my car out once a week for a drive just to recharge the battery (although I'll stop at the grocery store, too, if there's anything I really need to pick up). That still doesn't use much gas, though.
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Old 05-08-2020, 10:14 AM
 
1,963 posts, read 495,223 times
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Quote:
Originally Posted by Aredhel View Post
Good advice. I've been taking my car out once a week for a drive just to recharge the battery (although I'll stop at the grocery store, too, if there's anything I really need to pick up). That still doesn't use much gas, though.
I don't drive much, maybe three times a week. Now it's maybe once a week. That's certainly enough to keep a car fresh and ready, but I can only scowl at the oceans of cheap gas I have no use for.
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Old 05-08-2020, 11:32 AM
 
Location: Buckeye, AZ
31,254 posts, read 17,641,610 times
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Quote:
Originally Posted by Therblig View Post
I don't drive much, maybe three times a week. Now it's maybe once a week. That's certainly enough to keep a car fresh and ready, but I can only scowl at the oceans of cheap gas I have no use for.
Same here except next week I'm back to work so the point is moot...
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Old 05-08-2020, 11:58 AM
 
1,963 posts, read 495,223 times
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Quote:
Originally Posted by davebarnes View Post
I only get 4 hot dogs in a pack.
But, each dog weighs more than 1/4 pound so I am happy.
And the per-pound cost is well over double, which makes me very unhappy. I like big dogs (both Danes and franks).

Why eight HN or Nathan's are $5 and four are $10 is... inexplicable.
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Old 05-08-2020, 02:45 PM
 
1,072 posts, read 211,635 times
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Whats going to be interesting is rent. Is govt going to pay current rents or let people get kicked out or do nothing. Do nothing and landlords got choice of owning an empty apartment building and still owing mortgage or lowering rents and not getting enough money to pay mortgage or letting apartment building be foreclosed and the bank can worry about it. Truly unique times.


Also lot cars on easy payment plan. If they are repossessed, then cant resell them, just crush them? Or sell them outright for $100 or something.


Food prices will be stable or rise as people need food to live. You can survive on park bench with coat stuffed with newspapers, but still have to eat.
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Old 05-08-2020, 02:47 PM
 
Location: Las Vegas & San Diego
1,595 posts, read 345,271 times
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Quote:
Originally Posted by mathjak107 View Post
most supermarkets our way have no sales , promo's or specials on many items so in effect they have gone up
Yes, fewer promo or special sales but we don't shop much at chain markets (before or now). We do most of our shopping at places that have lower prices than the big markets and don't have many specials. Places like Costco, Aldi's, Grocery Outlet, local Asian or Middle Eastern markets, etc.
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Old 05-08-2020, 03:04 PM
 
1,963 posts, read 495,223 times
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Originally Posted by HJ99 View Post
Food prices will be stable or rise as people need food to live. You can survive on park bench with coat stuffed with newspapers, but still have to eat.
Which is why the claims of whole warehouses of fresh food rotting, milk being dumped, even meat animals being culled has me completely confused.

Is our entire restaurant 'infrastructure' so incredibly wasteful that even when feeding the same number of people, the lack of commercial buyers means some large percentage of food has no market?
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Old 05-08-2020, 03:18 PM
 
Location: Ohio
22,065 posts, read 15,418,972 times
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Quote:
Originally Posted by Happs View Post
Why aren't prices on most goods and services rapidly declining during this pandemic?
Why would they?

Are you suggesting COVID-19 infects software?

You order what you sell. If you're not selling it, then you're not ordering it and if you're not ordering it, then nobody is producing it.

See how that works?

This isn't 1920 where you produce, produce, produce then stock-pile, stock-pile, stock-pile and when that warehouse gets full, go rent another warehouse to stock-pile, stock-pile, stock-pile.

It's called JIT (Just-in-Time) inventory. You might want to familiarize yourself with it.

With respect to services, pricing is generally predicated on costs, mainly overhead. I'm not seeing where those costs have been reduced.

Quote:
Originally Posted by Happs View Post
With high unemployment rates and low stock market indexes compared to January 2020, one would assume that consumers have less disposable income. It seems however that prices are holding steady to increasing.
Stock market indexes?

Why don't you just say it's dependent on whether there are two birds sitting in a particular tree or not?

Do you understand that only 3% of US businesses are publicly-traded corporations and they employ only 5.6% of the work-force?

Yeah, that's right...97% of US businesses are forbidden by law from selling stocks and they employ 94.4% of the work-force.

I guess you didn't. Now you know.
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Old 05-08-2020, 03:20 PM
 
Location: Omaha, Nebraska
8,813 posts, read 5,077,644 times
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Quote:
Originally Posted by Therblig View Post
Which is why the claims of whole warehouses of fresh food rotting, milk being dumped, even meat animals being culled has me completely confused.

Is our entire restaurant 'infrastructure' so incredibly wasteful that even when feeding the same number of people, the lack of commercial buyers means some large percentage of food has no market?
In part, yes. But the problem in some cases is that the food items in question are processed in completely different ways for restaurants and large commercial kitchens than they are for home use (think butter in small pats instead of sticks, milk in flexible 5 gallon plastic bags instead of 1 gallon jugs, huge bags of salad mix, and bottled liquid egg mix instead actual eggs in their shells packaged in 1 dozen cartons), and it takes a while to increase the availability of the consumer packaging. Basically, it's the toilet paper issue, writ large. The TP shortage wasn't just from hoarding, it was from the fact that usually about 60% of TP was manufactured in those huge rolls used in commercial toilet stalls, while consumers needed the small rolls we can hang on our TP holder in our home bathroom. It took the companies a while to retool. But the crops are perishable, so in the interim they end up wasted. (In the case of crops that can't be harvested by machine, a shortage of migrant field workers is also playing a role, as many of them are now stuck in Mexico.)

In the case of meat, the problem is that the large meatpacking plants had to shut down because too many workers fell ill. Farmers and ranchers can't sell meat directly to the consumer, and if they can't send their animals to a USDA-approved butcher or processing plant, they have no way to get their animals processed for the consumer to use. (They can sell the live animal - but in the typical urban or suburban area home slaughter and butchering isn't allowed, even if the person buying the critter knows how to do it, which fewer and fewer do.) And they can only afford to hold on to the animals for so long, as every day the animals have to be fed.

It's complicated.
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