Is there some percentage of retail and tourism failure that would cause the economy to collapse? (capitalism, companies)

[RationalExpectations]

Originally Posted by jonbenson

I heard Buffet is buying gold now

I think you misheard. He isn't buying gold. He's buying GOLD, the ticker symbol for Barrick Gold Corporation, which is a public company listed on the NYSE.

[skeddy]

Originally Posted by jonbenson

How is consistent for Trump to talk about how he didn't get the country into any wars yest simultaneously brag about spending more money on defense ?

If they reallocated say 100-200 Billion from defense spending somewhere else would it make a difference to national security?

defense budget went up every year Obama was President.

[tickyul]

Yes, if a certain Orangemenace happens to win in November, watch Dem states double-down
on the covid-based insanity, possibly collapsing things permanently.

[1insider]

Originally Posted by tickyul

Yes, if a certain Orangemenace happens to win in November, watch Dem states double-down
on the covid-based insanity, possibly collapsing things permanently.

Which particular insanities do you see triggering the collapse?

[Johnhw2]

Originally Posted by skeddy

defense budget went up every year Obama was President.

The silly fed gov budget process calls a flat budget when the budget increase by inflation only. So a do nothing on budgets will see budgets rise. Obama did not even have a budget approval for several of his years. So budgets must not have been his thing

I am surprised his budget for defense increasd none the less

[Mircea]

Originally Posted by jonbenson

I heard Buffet is buying gold now

I heard Buffet uses Charmin toilet paper. Maybe you should buy that, too.

Originally Posted by jonbenson

Is there some percentage of retail and tourism business failure that would cause the economy to collapse?

Why don't you research it?

I mean your tax dollars pay for that, so why wouldn't you avail yourself of it?

Let's use QTR 4 2019 data, since that data is not skewed.

Your gross output was $34,710,500,000,000 or we can just say $34.7 TRILLION.

Who puts it out?

Agriculture $541 Billion or 1.6%
Mining $732.8 Billion or 2.1%
Utilities $455.8 Billion or 1.3%
Construction $1,354.3 Billion or 3.9%
Manufacturing $6,282.3 Billion or 18.1%
Wholesale $1,861.4 Billion or 5.4%
Retail $1,844 Billion or 5.3%
Transportation $1,183 Billion or 3.4%
Media $1,984.6 Billion or 5.7%
Finance $6,042.9 Billion or 17.4%
Professional $4,008.5 Billion or 11.5%
Education $330.3 Billion or 1.0%
Arts/Entertainment $1,336.9 Billion or 3.9%
Government $3,634.2 Billion or 10.5%
Healthcare $2,396.2 Billion or 6.9%

Granted that only comes to 98%, because ~2% are Miscellaneous.

Note that in your heyday, Manufacturing was only 22% so there has been a decline of 3.9 percentage points or a percent change of -17.7%.

If someone claimed that manufacturing declined 17%, you could counter with "It only fell 3.9 points" and you'd both be right. It all depends on how you want to spin it.

However, you'd probably want to point out that other economic sectors increased.

But then, the complaint about Manufacturing is the supposedly good wages crow-barred into place by Unions.

In case anyone was wondering, Retail was $1,809 Billion in QTR 1 2020.

Retail decreased by $35 Billion or a percent change of -1.9% due to COVID-STUFF.

Anyway, now that you have the data you need, you can make an informed guess, instead of purely speculating.

Originally Posted by RationalExpectations

Regarding share buybacks, they are usually a VERY GOOD THING. At least in normal times. I know, these are not normal times.

Yes, the 3% of US businesses that are publicly-traded corporations buy back their stocks to prevent hostile take-overs, forced mergers, forced acquisitions and other not good things.

[jonbenson]

Originally Posted by Mircea

I heard Buffet uses Charmin toilet paper. Maybe you should buy that, too.



Why don't you research it?

I mean your tax dollars pay for that, so why wouldn't you avail yourself of it?

Let's use QTR 4 2019 data, since that data is not skewed.

Your gross output was $34,710,500,000,000 or we can just say $34.7 TRILLION.

Who puts it out?

Agriculture $541 Billion or 1.6%
Mining $732.8 Billion or 2.1%
Utilities $455.8 Billion or 1.3%
Construction $1,354.3 Billion or 3.9%
Manufacturing $6,282.3 Billion or 18.1%
Wholesale $1,861.4 Billion or 5.4%
Retail $1,844 Billion or 5.3%
Transportation $1,183 Billion or 3.4%
Media $1,984.6 Billion or 5.7%
Finance $6,042.9 Billion or 17.4%
Professional $4,008.5 Billion or 11.5%
Education $330.3 Billion or 1.0%
Arts/Entertainment $1,336.9 Billion or 3.9%
Government $3,634.2 Billion or 10.5%
Healthcare $2,396.2 Billion or 6.9%

I know little about economics, it's not my knowledge area. What are the most vulnerable area here and are decreases possible in the next couple of years that could be to the extent to threaten an economic collapse ?

I see the much higher percentage of manufacturing there and was surprised.



https://www.nam.org/state-manufactur...cturing-facts/


Manufacturing is not as vulnerable as Retail, Transportation, Education, are to the COVID restrictions
but an irony about if as for jobs is that the more efficient it gets with robotics and automation the more as many workers may not be needed

December 31st is the end of the eviction moratorium. Potentially millions could be at threat and then with so many business failures, not enough (real) jobs to alleviate it

[Hemlock140]

The service industry and retail workers are not contributing much to tourism revenue, nor are they investing in the stock market. As long as there are high pay tech workers, longshore workers, doctors, lawyer, and various managers and directors with money to spend the economy will be fine.

[Oklazona Bound]

Originally Posted by jonbenson

How is consistent for Trump to talk about how he didn't get the country into any wars yest simultaneously brag about spending more money on defense ?

If they reallocated say 100-200 Billion from defense spending somewhere else would it make a difference to national security?

It would make a difference to profits in the military industrial complex. We have nuclear weapons. No one is going to mess with us. Just like we do not mess with other nuclear powers. We can cut defense spending. No problem.

[Oklazona Bound]

Originally Posted by tickyul

Yes, if a certain Orangemenace happens to win in November, watch Dem states double-down
on the covid-based insanity, possibly collapsing things permanently.

If there was ever a time when the collapse of the USA was possible. The next few months will be that time.