The fedgov rained down trillions from the heavans. That is what this is. But now what? Lowe’s and Home Depot became crowded with people buying for construction projects. OSB sheets wend from $9 to almost $19, and 2x4 studs became scares. But now it’s a ghost town. Looks like the money was spent, and now here we are.
I’m hoping it’s a recovery, but I’m a bit concerned it’s a dead cat bounce. Meanwhile, all those recently devalued dollars have to go somewhere. Enter the stock market, real estate and precious metals. They’re all up. It’s not that any of them are worth more. It is that the dollars seeking them out are worth less.
The idea that the economy is going to be fine is nonsense.
How’s the service sector doing?
Soon I expect the real estate market to do poorly.
President Trump did promise the change towards more of a production economy and away from being servants for the newly rich from countries like China. President Trump is following through on that promise. With the trade imbalances and balance of payments deficits from foreign trade, we were in a regime of increasing debts.
American first, so change would have happened anyway. Where jobs are increasing the most, the pay will be far better. We will still have a large service sector, but only if the revenues feeding it are more sustainable (manufacturing and other production) than revenues that come from big government spending (government employees, government contractors, other services and the like).
We must produce!
New Career Opportunities Await in Post-Virus Economy
https://www.cincinnati.com/story/opinion/2020/08/01/opinion-new-career-opportunities-await-post-virus-economy/5559235002/
https://findsomethingnew.org/about/
(see the list of supporters along with Walmart, IBM, Home Depot, Apple and others, including The White House pledge to America’s Workers!)
Post 6... good analysis.
I’m concerned we are looking at some additional COVID slowdowns. Colleges shutting down in particular. Public schools along with them.
As of late I know of ten or so people suffering from the virus. Didn’t know anyone from the previous four months.
Same for food, weird items on shelves, who uses gallon sized corn or green beans cans. Recalls have been nearly daily.
We simply must have country/farm/dairy/meat plant on labels.
Onions, 2 beef, lemons, limes, potatoes, bagged lettuce and other produce, cheese/products. Kroger the most mentioned. Hamburger $9.00 a lb, TP which we now have plenty of off brands, name brands $20.99 a double role 24 pack. Milk, eggs, dairy, bread all higher priced. NO SALES, NO FREEZERS TO BUY.
LOWE’S STOPPED MILITARY DISCOUNTS ON ‘SALE ITEMS’ WOOD PRICES SKY HIGH. WORTHLESS SALES.
MINE IF I GET A STIMULUS CHECK GOES FOR A USABLE MOBILITY WHEELCHAIR. MEDICARE ONLY PROVIDED 500 LB BEHEMOTHS FOR INSTITUTIONS OR IN ISOLATION HOME USE IF YOUR HOME MEETS STANDARDS. STARTER HOMES DON’T. ALL DOORS HAVE TO BE WIDENED, FURNITURE ELIMINATED. STORE HAD OVER PRICED SMALLER ONES YOU PAID OUT OF POCKET FOR. CRAP HEALTH CARE HUBBY SPENT 20 YRS IN THE NAVY FOR.