GDP

maui

Big Bore diggidy mayhem
Joined
Dec 12, 2001
Messages
34,445
Location
see above
Ok haven't verified this but...

Wikipedia’s definition for “recession” has changed and the page is now locked from being edited

There have been over 30 edits to the definition of a Recession in Wikipedia over the past 48 hours



If true, we are officially living in a simulation
 

Rhino

K-9 BAMF
Joined
Dec 12, 2001
Messages
22,989
Location
Fuck you
You know the CHIPS Act was passed today, right? We were talking about it last year in the thread you started (which I'll update)- it took all this time to negotiate it, and all House Dems and 24 Reps signed it, as well as passing 64-33 in the Senate (which is about as bipartisan as it gets these days).



Well, now the US is going to be much more competitive.


That is all good ..

But China still has us selling chevys built in their country built by their factories by their people. Those are the type of unfair trade deals that have to change ..
 

gobrian77

Quod Erat Demonstrandum
Joined
Dec 31, 2001
Messages
26,285
Location
Thailand
That is all good ..

But China still has us selling chevys built in their country built by their factories by their people. Those are the type of unfair trade deals that have to change ..
I understand the point you're making, but I don't think it works with motor vehicles (it does with loads of other stuff, though). Due to import tariffs, I'm pretty sure Chinese-made Chevrolets (or any GM vehicles) aren't sold in the US- I believe they're only sold in China and countries that have lower tariffs, like Mexico. There may be some Chinese-made parts in GM vehicles manufactured elsewhere.

Edited- yeah, I looked into it, and that's the case- this article is from last year, but the tariff structure is still in place:

So, why wasn’t China on our list of countries? The answer is that the US government is currently imposing a 27.5% import tax on Chinese-made vehicles. As a result, it’s not profitable to make trucks in China and ship them to the US in the current market.

For the time being, Chinese-made Chevy trucks are only sold in the China market. Future developments will depend on the course of the current US-China trade war.


 
Last edited:

gobrian77

Quod Erat Demonstrandum
Joined
Dec 31, 2001
Messages
26,285
Location
Thailand
Right .. I'm saying how the deal they cut was not importing our product . They wisely put their own people to work making and assembling the vehicle in country. While this is profitable for GM.. it does little for keeping Americian people working.
They have a similar tariff for US-built cars- it's not a deal they cut, it's a tariff Trump imposed that Biden kept in place, and they reciprocated (not saying good or bad here, but it's what happened). GM builds there in order to sell cars- if the GM vehicles sold in China were manufactured in and imported from the US and were hit with the same 27.5% import tariff (I think it's actually 25% on their end), no Chinese would buy them (the same way Americans wouldn't buy Chinese-built cars with similar premium on the price), so it wouldn't make a difference for American workers. The purpose of the tariffs was to reduce imports from China (which they did), but they likewise reduced exports to China.

It's the same in Thailand, which has ridiculous import tariffs but is a huge motor vehicle market, especially for small and midsized trucks- American and Japanese manufacturers built plants here. Similarly, Toyota, Honda, Nissan, etc all have plants in the US.

The tariffs referenced in this article are still in place:

 

scottcolbath

BAMF+
Joined
May 1, 2002
Messages
16,943
Location
Phoenix, Az.
Guessing it was oil less at that price point.

How long did it last you roughly?

I bought one of the roll around ones to run some nailers, same deal, just need it for renovations. If it goes kaput after a couple years of light use, I'll have gotten my money's worth.
Yes, oul-less. It’s still running , I’m not sure it’s going to last much longer.
 
OP
luckystrike

luckystrike

non binary Chief Diversity & Inclusion Officer
Joined
Jan 1, 2002
Messages
58,261
Location
Inside Schiavo
Website
lemonparty.org
  • Thread Starter
  • Thread Starter
  • #58
The 'All in Pod' is a weekly must watch

Like The View but with 4 Silicon Valley titans (3 democRAT 1 GOP) instead of a panel of hysterical witches

 
  • Red
Reactions: Red

tinhead

Has never named a pet
Joined
Jan 1, 2002
Messages
37,725
Location
Northeast CT
Here's why it's not a recession105868

This sea creature harvesting vessel sits idle in Homer harbor.
Not buying fuel
Not buying supplies
Not selling harvested sea creatures
Nobody earning money unloading, cleaning, or shipping harvested sea creatures

Why?

No crew.
In spite of a $5000 dollar sign on bonus.

Very different than having 15% unemployment with 20 million people thrown out of work by a virus the numbskull in charge refused to acknowledge existed. Until it damn near killed him, being the sick old man he is.
 

maui

Big Bore diggidy mayhem
Joined
Dec 12, 2001
Messages
34,445
Location
see above
so the caption of that boat called Biden and said that 2 declining quarters of GDP is not a recession, and that it's actually other "un-named" things that indicate one.
 
OP
luckystrike

luckystrike

non binary Chief Diversity & Inclusion Officer
Joined
Jan 1, 2002
Messages
58,261
Location
Inside Schiavo
Website
lemonparty.org
  • Thread Starter
  • Thread Starter
  • #68
Here's why it's not a recessionView attachment 105868

This sea creature harvesting vessel sits idle in Homer harbor.
Not buying fuel
Not buying supplies
Not selling harvested sea creatures
Nobody earning money unloading, cleaning, or shipping harvested sea creatures

Why?

No crew.
In spite of a $5000 dollar sign on bonus.

Very different than having 15% unemployment with 20 million people thrown out of work by a virus the numbskull in charge refused to acknowledge existed. Until it damn near killed him, being the sick old man he is.
Hey, inflation doesn’t affect me if I have $0
 

maui

Big Bore diggidy mayhem
Joined
Dec 12, 2001
Messages
34,445
Location
see above
does joblessness include people who used to work but don't anymore?
 

scottcolbath

BAMF+
Joined
May 1, 2002
Messages
16,943
Location
Phoenix, Az.
does joblessness include people who used to work but don't anymore?
I am officially unemployed. I'd assume I'm a number now.

What cracks me up, is I had to apply for Az. unemployment, in order to be exempt from the FICA tax while I'm not working. Even though I am getting my full salary for 15 months, Az. still saw fit to deposit $300 into my unemployment account today, and I can only assume it will continue while I'm not working. Fuck it. I've been paying into the fucking system for more than four decades. Time to get a little back.

S.C.
 

maui

Big Bore diggidy mayhem
Joined
Dec 12, 2001
Messages
34,445
Location
see above
106550

  1. Inverted Yield Curve: This occurs when short-term rates are greater than long-term rates. It would generally imply that both monetary and fiscal policies are currently restrictive in nature and the probability of the economy contracting in the future is high. The inverted yield curve has been considered a predictor of recessions in the economy.3
spin this
 

gsxrian

BAMF
Joined
Feb 23, 2005
Messages
3,875
I just want my quality parts and tools back!

I do not mind paying an extra $100.00 per part tool, as long as the quality is there.

The sad part is that the craftsmen and skill sets have been left idle for too long...

...maybe.

I want American steel, aluminum, other alloys, bearings, castings and rubber!









Adjusted for accuracy.
Most 'American Made' stuff is as bad as Chinese crap!

eg .... look at 'American Made' cars from the 70's, 80's, 90's .... total garbage.
 

Wretch

amazingly graceful
Joined
Feb 1, 2002
Messages
40,566
Location
is overrated
Most 'American Made' stuff is as bad as Chinese crap!

eg .... look at 'American Made' cars from the 70's, 80's, 90's .... total garbage.
I would still rather have what was made here than what is made there, regardless of your opinion of quality from either place...

...which is inaccurate from what I recalled seeing.

Chyna metallurgy is still 20 + years behind and their quality control isn't even in the same solar system.
 
Joined
Jan 12, 2002
Messages
10,354
Location
157 Riverside Avenue
I am glad that 20-30 years ago when I was buying tools for work I bought Snap-On, Mac, etc.. I still have the majority of them and they are still good tools.

Any more I will usually buy Harbor Freight because I am not using them to put food on the table every day. Lifetime warranty isn't as big a deal when you're 60+ as when you're 30.

My hand box I took to the track got stolen, most everything in it was my good Snap-On stuff. I replaced it with HF simply because I didn't want to spend the money for stuff that doesn't get used much.
 

scottcolbath

BAMF+
Joined
May 1, 2002
Messages
16,943
Location
Phoenix, Az.
I am glad that 20-30 years ago when I was buying tools for work I bought Snap-On, Mac, etc.. I still have the majority of them and they are still good tools.

Any more I will usually buy Harbor Freight because I am not using them to put food on the table every day. Lifetime warranty isn't as big a deal when you're 60+ as when you're 30.

My hand box I took to the track got stolen, most everything in it was my good Snap-On stuff. I replaced it with HF simply because I didn't want to spend the money for stuff that doesn't get used much.
I'm still using all my Craftsman stuff I bought more than 40 years ago, with one exception. A torque wrench which they would not honor under the lifetime warranty. That really pissed me off.

S.C.
 

BigGar

high on placebo
Joined
Dec 12, 2001
Messages
45,211
Location
Hayabusaland, CA
I'm still using all my Craftsman stuff I bought more than 40 years ago, with one exception. A torque wrench which they would not honor under the lifetime warranty. That really pissed me off.

S.C.
I've got a broken Craftsman 3/8" ratchet.
Do I take it to Lowe's now for warranty?
Sears is gone, at least around here but I see Lowe's has bought / licensed the Craftsman name.
 
Top Bottom