U.S. CitiesCity-Data Forum Index
Happy Independence Day!
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-08-2020, 03:30 PM
 
Location: Living rent free in your head
35,187 posts, read 16,246,693 times
Reputation: 25789

Advertisements

Quote:
Originally Posted by redguard57 View Post
My spending has dropped around 35% and that was with a couple pandemic panic runs to the grocery stores, buying a flurry of supplies online and computer equipment for our home offices.

It would be more if I weren't making a concerted effort to support the local businesses I care about. We're getting takeout and/or picking up coffee etc.. at least 2x a week.

Staying home doesn't cost much. I haven't filled my gas tank since March.
Same here, I'm starting to wonder how much money I was wasting before.
Reply With Quote Quick reply to this message

 
Old 05-08-2020, 04:20 PM
 
10,548 posts, read 4,582,964 times
Reputation: 2158
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?
I have been told - regulations differ between the foods going to restaurants vs grocery stores, so the switch over is not so easy or timely.
Reply With Quote Quick reply to this message
 
Old 05-08-2020, 08:11 PM
 
7,822 posts, read 3,410,803 times
Reputation: 7075
Quote:
Originally Posted by Therblig View Post
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.
Oh, man, I’m sorry. I didn’t mean to put you on the spot and embarrass you like that. I thought that you actually had an understanding of the subject and would be able to engage in a meaningful conversation. It’s OK, lots of people don’t really understand economics. I recommend Khan Academy, it will really help you.
Reply With Quote Quick reply to this message
 
Old 05-08-2020, 09:10 PM
 
8,287 posts, read 4,650,895 times
Reputation: 17383
Quote:
Originally Posted by Happs View Post
Why aren't prices on most goods and services rapidly declining during this pandemic? 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.
What you describe is a recipe for INFLATION. Which is what I'm seeing at the grocery store. My Starbucks coffee grounds went up $1. Fewer specials on canned goods. Other prices inching up. Amazon doubled the price on my dog's rawhide munchy sticks (Walmart didn't increase the price, but it's sold out of 'em).

Prices go up as demand goes up. And demand is way up for some things. Supply and demand. If you have a car for sale, and you have 100 people lined up to buy it, as opposed to just one, you know you can get a better price. The country has laws against price gouging for essential things, though. Gasoline in a natural disaster, antibacterial products during a pandemic, etc.

I think, also, that printing money, as the govt has been doing, lessens the value, so costs go up.
Reply With Quote Quick reply to this message
 
Old 05-08-2020, 10:40 PM
 
Location: Riverside Ca
20,897 posts, read 23,295,749 times
Reputation: 32201
Quote:
Originally Posted by Happs View Post
I've read estimates of unemployment rate anywhere between 15% to 30%, which is significant. Combine that with people who are employed or retired, but whose stock market portfolios or primary home's value has declined precipitously, and then you have a sizable amount of people who have less disposable income to spend on discretionary goods and services.
There are a lot of people who never had the disposable income to spend on discretionary goods and services. What exactly does declining house prices have to do with anything. Unless you’re buying or selling. Because the house value has no bearing on buying groceries or filling up a car. Same with stock market portfolios. Unless you’re taking dividends it all it does is lower your net worth on paper.
These unemployed people are going to get unemployment checks extra help, stimulus money, some will still get paid by their companies due to the loans they qualified for that are forgivable if the loan was used for paying employees. Not to mention a lot of people who normally wouldn’t be able to qualify for unemployment they are allowed to do so.

Yes you’re right 15-30% unemployment rate is high, but there are a lot of people getting paid. LL both residential and commercial are asked to hold off and work with the tenants. Imo it sounds worse than it is. And lots of stores are starting to slowly open up.
Reply With Quote Quick reply to this message
 
Old 05-09-2020, 12:19 AM
 
Location: Olympus Mons, Mars
6,504 posts, read 9,278,664 times
Reputation: 7025
it takes a while.. this situation is only 2 months old, give it 6 months
Reply With Quote Quick reply to this message
 
Old 05-09-2020, 06:15 AM
 
Location: San Antonio/Houston/Tricity
42,196 posts, read 61,004,749 times
Reputation: 98934
Come on, guys - the bun count is lame, off-topic and old news:
Today I Found Out | Learn Interesting Facts Every Day2014/11/dont-hot-dogs-hot-dog-buns-come-packs-number-start/
Please stay on topic.
__________________
.
"No Copyrighted Material"
Moderated forums:
World, Europe, Texas, Corpus Christi, El Paso, Lubbock, Tyler, Houston, San Antonio, Tallahassee, Minnesota,
Economics, Investing, Personal Finance
Fish, Home Interior Design and Decorating, Science and Technology Forums
.

Need help? Click on this: >>> ToS, Mod List, Rules & FAQ's, Guide, CD Home page, How to Search
Realtors are welcome here but do see our Realtor Advice to avoid infractions.
Reply With Quote Quick reply to this message
 
Old 05-09-2020, 08:34 AM
 
Location: Ft. Myers
19,731 posts, read 12,847,693 times
Reputation: 41601
Quote:
Originally Posted by Happs View Post
Why aren't prices on most goods and services rapidly declining during this pandemic? 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.

Do a search for "Supply and demand". That should answer your question better than any of us could.

I do not even look at prices when I buy something any more. If it is on the shelf, I'm buying it.
Reply With Quote Quick reply to this message
 
Old 05-09-2020, 08:38 AM
 
13,249 posts, read 10,842,938 times
Reputation: 10431
Quote:
Originally Posted by Happs View Post
Why aren't prices on most goods and services rapidly declining during this pandemic? 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.
If you have a 15% slowdown in the supply side and a 15% slowdown in the demand side, there is no net change to price needed to restore equilibrium.

Or, perhaps, the reduced demand from unemployed barbershop, travel industry, and restaurant workers is offset by increased demand from people who keep their jobs and are now getting richer due to not spending money on travel or dining out.

One person's loss of income is another's loss of expenditure. (the "Reverse Paradox of Thrift"?)
Reply With Quote Quick reply to this message
 
Old 05-09-2020, 09:18 AM
 
2,011 posts, read 510,658 times
Reputation: 3218
Quote:
Originally Posted by TaxPhd View Post
Oh, man, I’m sorry. I didn’t mean to put you on the spot and embarrass you like that. I thought that you actually had an understanding of the subject and would be able to engage in a meaningful conversation. It’s OK, lots of people don’t really understand economics. I recommend Khan Academy, it will really help you.
I see you avoided engaging a single actual point. As is usual for you. You sling your rote version, which is about 1/2 step up from your pal who quotes from the 1975 econ book, then dismiss anyone who challenges you.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top