US ECONOMY News and Discussion Thread

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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed May 23, 2018 7:51 am

Buc2 wrote:
RedLeader wrote:10 largest companies in the US by annual revenue

1 Walmart $500bn
2 Exxon Mobil $244bn
3 Berkshire Hathaway $242bn
4 Apple $229bn
5 UnitedHealth $201bn
6 McKesson $199bn
7 CVS $185bn
8 Amazon $178bn (first time in top 10)
9 AT&T $161bn
10 General Motors $157bn

Fortune 500, 2018




And people say retail is dead.

I think they say brick & mortar retail is dead. Other than Walmart and CVS, what other, predominantly, brick & mortar retail companies are killing it? Best Buy? Nope. Sears? Nope. JC Penny? Nope. Kohl's? Nope. Barnes & Noble? Nope.


Yes. Obviously being facetious.. but technically Apple and GM could still be considered ‘retail’. ;)
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Wed May 23, 2018 7:54 am

RedLeader wrote:
Buc2 wrote:I think they say brick & mortar retail is dead. Other than Walmart and CVS, what other, predominantly, brick & mortar retail companies are killing it? Best Buy? Nope. Sears? Nope. JC Penny? Nope. Kohl's? Nope. Barnes & Noble? Nope.


Yes. Obviuosly being facetious.. but technically Apple and GM could still be considered ‘retail’. ;)

That's stretching it, imo, because those companies are so specialized. But I have to admit that, technically, you are correct. Barnes & Noble is pretty specialized as well I guess. So they may not have been a good company to name in my example above.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed May 23, 2018 8:05 am

Ya. Seriously though. I think we’ve all see it happening..

Damn depressing to see some of those stores and malls around town relatively empty these days.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed May 23, 2018 8:27 am

You should look at sales revenue for the retailers listed (includes Apple, GM, Walmart) because most companies of that size have substantial non-operating income.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed May 23, 2018 8:48 am

House and Senate passed bills to roll back much of Dodd Frank for smaller community banks. These banks no longer have to meet the same regulations as the large multi-nationals in terms of liquidity and risk management and a few other balance sheet regs.


Maybe now small community banks will stop going under finally.

Dodd Frank (some of which I absolutely agree with) is a perfect example of the unintended consequences of well intentioned regulations. They nearly always disproportionately help the large multi-national at the expense of small business

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Re: US ECONOMY News and Discussion Thread

Postby uscbucsfan » Wed May 23, 2018 9:06 am

Zarniwoop wrote:House and Senate passed bills to roll back much of Dodd Frank for smaller community banks. These banks no longer have to meet the same regulations as the large multi-nationals in terms of liquidity and risk management and a few other balance sheet regs.


Maybe now small community banks will stop going under finally.

Dodd Frank (some of which I absolutely agree with) is a perfect example of the unintended consequences of well intentioned regulations. They nearly always disproportionately help the large multi-national at the expense of small business

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There are barely any "small banks" remaining, but this is really good news.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed May 23, 2018 9:09 am

I use one for my personal stuff and love it...I’ve been with it for 15 years. They have a grand total of five branches

I caved and use a big one for my business stuff
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed May 23, 2018 9:33 am

Short answer: They won't.

Dodd Frank's biggest issue for small banks is the compliance with disclosure on mortgages. Banks have to disclose all sorts of **** within a certain timeframe prior to closing on the mortgage. My wife griped about it all the time when she was in loans. What is killing small banks is Mergers and acquisitions and not so great advances in online banking compared to the big boys.

Small investment groups run out and create a bank for the express purpose of getting bought out in the future. Not all that different than tech startups.

~70% of all bank transactions are electronic now and small banks have to make large investments in tech to compete with the big banks in terms of ease of online banking and fraud mitigation.

One of the biggest customer advantages with a small bank is a free checking account, with no minimum balance and courtesy overdraft protection. Obviously, they do this to get as many deposits as possible, but it also has the disadvantage of attracting low balance accounts that do not have sufficient credit to take out a loan, which is the biggest part of growing a bank in terms of balance sheet assets.

Federal regulations may well be a factor, but the reality is that it's far easier for bank executives to make just enough investments in modernization to keep the balance sheet looking good for the board who will be just fine with selling out when Wells Fargo comes along.

I think we need to break up the 4 largest banks in the country (JPM, BofA, Citi,Wells Fargo) and get some real competition back into that sector.

I'd also like to see the USPS go back into providing some simple banking which is something Bernie has come out for. Not talking about turning the USPS into a full fledged bank, but offering some banking products that would benefit rural people and people on fixed government incomes. You can already send money orders there, but there's more that could be done that wouldn't affect the banking sector all that much.

Buy savings and other bonds
free direct deposit and checking for SSI, VA, SS, and pension deposits
Loan origination for VA, Fannie, Freddie, SBA loans (banks hate doing these)
Replace Navient as the holder of Student loan debt (change the rate to one point over T-bill rate)
Low interest, short term, unsecured loans that would put the payday loan sharks out of business.

**** like that.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed May 23, 2018 9:39 am

USPS offer banking activities .... LOL....Bernie’s a looney tune


otherwise good post
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed May 23, 2018 9:48 am

Zarniwoop wrote:USPS offer banking .... LOL....Bernie’s a looney tune


otherwise good post

It was done in the past. It's not a new idea.

The reason banks like BofA have $500 minimum balance requirements is because they do not want low or fixed income depositors who do not take out many loans. Small banks get to capitalize on this and that's great for interchange revenue, but it also affects even a small bank's balance sheet since it throws off the ratio of demand and time deposits to loans. The USPS could provide free checking and use the interchange revenue alone to meet its pension obligations. And like I said, it would bury the payday loan industry which is nothing more than legalized loan sharking.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed May 23, 2018 10:05 am

Ya, no thanks. The USPS sucks enough as it is,


Banking shouldn’t be free. I don’t understand why anyone would expect this. They provide a service which costs money to provide. They need to recoup those costs

If you give the bank enough of your money they might give you free stuff...that too seems reasonable to me

Likewise if credit unions or small banks want to waive fees for community philanthropy all the power too them
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed May 23, 2018 11:23 am

Zarniwoop wrote:Ya, no thanks. The USPS sucks enough as it is,


Banking shouldn’t be free. I don’t understand why anyone would expect this. They provide a service which costs money to provide. They need to recoup those costs

If you give the bank enough of your money they might give you free stuff...that too seems reasonable to me

Likewise if credit unions or small banks want to waive fees for community philanthropy all the power too them

Wow.

You are exceptionally close-minded on this.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed May 23, 2018 12:13 pm

Mountaineer Buc wrote:
Zarniwoop wrote:Ya, no thanks. The USPS sucks enough as it is,


Banking shouldn’t be free. I don’t understand why anyone would expect this. They provide a service which costs money to provide. They need to recoup those costs

If you give the bank enough of your money they might give you free stuff...that too seems reasonable to me

Likewise if credit unions or small banks want to waive fees for community philanthropy all the power too them

Wow.

You are exceptionally close-minded on this.


How is any of that close minded?

The post office should in NO way be providing banking services...I think a huge number of Americans would agree with that. are they all close minded?

As for banking, i clearly said every option should be available to banks -- if they want to give free services they can...i wouldn't though if i were a bank though .. and it shouldn't be expected of a bank to give away free products/services any more than its expected of Ford to give away free cars or oil changes.
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Wed May 23, 2018 12:21 pm

I'll stick with USAA.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed May 23, 2018 12:35 pm

Whatever.
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Wed May 23, 2018 1:56 pm

Whatever, whatever?
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed May 23, 2018 2:21 pm

It’s whatevs idiots
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Re: US ECONOMY News and Discussion Thread

Postby Rocker » Wed May 23, 2018 2:26 pm

Cockass.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed May 23, 2018 2:31 pm

Rocker wrote:Cockass.



Completely wrong

Spoiler:
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Re: US ECONOMY News and Discussion Thread

Postby Caradoc » Wed May 23, 2018 3:21 pm

Zarniwoop wrote:
Mountaineer Buc wrote:Wow.

You are exceptionally close-minded on this.


How is any of that close minded?


You are disagreeing with a liberal, ergo, you are being close minded, duh
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Wed May 23, 2018 3:38 pm

My bank is better than your bank. So suck it.
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Re: US ECONOMY News and Discussion Thread

Postby DreadNaught » Wed May 23, 2018 6:01 pm

via cnbc

Trump economy's sustained growth pace unlike anything seen in 13 years

The Trump economy may be doing something not seen since 2005 —growth at a 3 percent or better pace for three quarters in a row.

Economists were ratcheting up fourth quarter growth to 3 percent or better after strong fourth quarter retail sales and strong revisions to prior months.

The question is whether the trend can continue into the first quarter, which is typically weak and is vulnerable to weather impacts.

On my phone so can't link.

Good news for the pro-economy folks.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed May 23, 2018 8:35 pm

DreadNaught wrote:via cnbc

Trump economy's sustained growth pace unlike anything seen in 13 years

The Trump economy may be doing something not seen since 2005 —growth at a 3 percent or better pace for three quarters in a row.

Economists were ratcheting up fourth quarter growth to 3 percent or better after strong fourth quarter retail sales and strong revisions to prior months.

The question is whether the trend can continue into the first quarter, which is typically weak and is vulnerable to weather impacts.

On my phone so can't link.

Good news for the pro-economy folks.




Wait, so is it safe to call it The 'Trump’ Economy already?
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Wed May 23, 2018 10:15 pm

DreadNaught wrote:via cnbc

Trump economy's sustained growth pace unlike anything seen in 13 years

The Trump economy may be doing something not seen since 2005 —growth at a 3 percent or better pace for three quarters in a row.

Economists were ratcheting up fourth quarter growth to 3 percent or better after strong fourth quarter retail sales and strong revisions to prior months.

The question is whether the trend can continue into the first quarter, which is typically weak and is vulnerable to weather impacts.

On my phone so can't link.

Good news for the pro-economy folks.


I thought the adjusted numbers were under 3% last quarter.

Either way the GDP is growing faster than population, it’s hard to argue any negative to that
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Re: US ECONOMY News and Discussion Thread

Postby bucfanclw » Thu May 24, 2018 8:07 am

Harley-Davidson workers stunned by plant closure after tax cut
by GABE GUTIERREZ and ANNIE ROSE RAMOS

Tim Primeaux has worked at the Harley-Davidson plant in Kansas City, Missouri, for 17 years. He was sure he was going to retire from the company.

That all changed when Harley-Davidson told its 800 employees in January that the plant will be closing next year. Operations will be shifted to the motorcycle manufacturer's facility in York, Pennsylvania.

“We did everything Harley-Davidson asked us to do,” said Primeaux, a welder. “To have it all blow up in your face is kind of disappointing.”

Days later, Harley-Davidson announced a dividend increase and a stock buyback plan to reward shareholders, repurchasing 15 million of its shares, valued at nearly $700 million.

Like other corporations, Harley-Davidson is benefiting this year from the tax cut law passed in 2017, which slashed the corporate rate from 35 percent to 21 percent. The company maintains that the dividend increase and stock buyback is unrelated to the tax savings.

House Speaker Paul Ryan visited a Harley plant in Wisconsin in September and said, “Tax reform can put American manufacturers and American companies like Harley-Davidson on a much better footing to compete in the global economy and keep jobs in America.”

Many Harley-Davidson workers wondered if the tax cut would trickle down to help employees. But a recent CNBC survey found that only 10 companies in the S&P 100 say they have specific plans to use the savings to boost worker pay.

Workers were taken aback by the decision to close the plant. “You could see it on everybody’s faces, just shock and awe,” recalls Primeaux. “It was like I was in a bad dream, just stuck in it.”

Harley is also building a new plant in Thailand. However the company maintains that the Bangkok plant is “separate and unrelated” to the decision to close the Kansas City plant, according to Michael Pflughoeft, a spokesman for Harley-Davidson.

The company calls the closing of the Kansas City plant a tough decision but says domestic sales are down and it needed to “address the excess capacity in the U.S.”

But some Harley employees in Kansas City believe that their plant was closed to make money for the Bangkok one.

“They are sending our jobs overseas. Absolutely,” said Rick Pence, a machine repairman in the maintenance department.

Kevin Amos, a union president at Harley who has worked there for 17 years, said he asked company executives multiple times what it would take to keep the company in Missouri and was under the impression that workers were doing everything to ensure that the company stayed.

“We thought we had met the mark. Clearly we didn’t,” said Amos.

Rick Pence, who started working for Harley-Davidson more than 21 years ago, recalls his elation at landing the job. “When I got hired, I felt like I won the lottery,” said Pence.

Primeaux said that if he could deliver a message to Harley CEO Matthew Levatich, it would be to keep the factory in Kansas City not for him but for his three girls.

“If my girls want to work there it’s a good place to work,” said Primeaux, adding that the plant closure has not affected his support for President Donald Trump. “I blame the company more than I blame the president.”

“We gotta accept it," said Pence, who turns 60 next year. “It’s truly hard.”

#MAGA
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Tue May 29, 2018 8:49 pm

Projected % change in inflation rate over past year, as of Apr 2018 :

Japan 1.1%
Germany 1.6%
US 2.5%
Russia 2.8%
India 5%
Turkey 11.4%
Iran 12.1%
Argentina 22.7%
S Sudan 104.1%

Venezuela 13,860%



(IMF)






#socialismtakesanL
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Tue May 29, 2018 8:57 pm

have no fear if Powell is anything like Yellen, Bernake or God forbid Greenspan he will artificially manipulate this rate back down under 1%
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Tue May 29, 2018 8:57 pm

bucfanclw wrote:
Harley-Davidson workers stunned by plant closure after tax cut
by GABE GUTIERREZ and ANNIE ROSE RAMOS

Tim Primeaux has worked at the Harley-Davidson plant in Kansas City, Missouri, for 17 years. He was sure he was going to retire from the company.

That all changed when Harley-Davidson told its 800 employees in January that the plant will be closing next year. Operations will be shifted to the motorcycle manufacturer's facility in York, Pennsylvania.

“We did everything Harley-Davidson asked us to do,” said Primeaux, a welder. “To have it all blow up in your face is kind of disappointing.”

Days later, Harley-Davidson announced a dividend increase and a stock buyback plan to reward shareholders, repurchasing 15 million of its shares, valued at nearly $700 million.

Like other corporations, Harley-Davidson is benefiting this year from the tax cut law passed in 2017, which slashed the corporate rate from 35 percent to 21 percent. The company maintains that the dividend increase and stock buyback is unrelated to the tax savings.

House Speaker Paul Ryan visited a Harley plant in Wisconsin in September and said, “Tax reform can put American manufacturers and American companies like Harley-Davidson on a much better footing to compete in the global economy and keep jobs in America.”

Many Harley-Davidson workers wondered if the tax cut would trickle down to help employees. But a recent CNBC survey found that only 10 companies in the S&P 100 say they have specific plans to use the savings to boost worker pay.

Workers were taken aback by the decision to close the plant. “You could see it on everybody’s faces, just shock and awe,” recalls Primeaux. “It was like I was in a bad dream, just stuck in it.”

Harley is also building a new plant in Thailand. However the company maintains that the Bangkok plant is “separate and unrelated” to the decision to close the Kansas City plant, according to Michael Pflughoeft, a spokesman for Harley-Davidson.

The company calls the closing of the Kansas City plant a tough decision but says domestic sales are down and it needed to “address the excess capacity in the U.S.”

But some Harley employees in Kansas City believe that their plant was closed to make money for the Bangkok one.

“They are sending our jobs overseas. Absolutely,” said Rick Pence, a machine repairman in the maintenance department.

Kevin Amos, a union president at Harley who has worked there for 17 years, said he asked company executives multiple times what it would take to keep the company in Missouri and was under the impression that workers were doing everything to ensure that the company stayed.

“We thought we had met the mark. Clearly we didn’t,” said Amos.

Rick Pence, who started working for Harley-Davidson more than 21 years ago, recalls his elation at landing the job. “When I got hired, I felt like I won the lottery,” said Pence.

Primeaux said that if he could deliver a message to Harley CEO Matthew Levatich, it would be to keep the factory in Kansas City not for him but for his three girls.

“If my girls want to work there it’s a good place to work,” said Primeaux, adding that the plant closure has not affected his support for President Donald Trump. “I blame the company more than I blame the president.”

“We gotta accept it," said Pence, who turns 60 next year. “It’s truly hard.”

#MAGA




What do consumers not buying Harley Davidson motorcycles anymore have to do with Trump? lol
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Tue May 29, 2018 9:03 pm

As a bike enthusiast everyone except apparently HDs management saw their product line never changed to attract younger riders from a different generation, they are now finally starting to make different bikes, only about 30 years too late

Couple this with millenials not riding nearly as much as previous generations and its easy to see they are still in serious trouble.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Tue May 29, 2018 9:12 pm

Zarniwoop wrote:As a bike enthusiast everyone except apparently HDs management saw their product line never changed to attract younger riders from a different generation, they are now finally starting to make different bikes, only about 30 years too late

Couple this with millenials not riding nearly as much as previous generations and its easy to see they are still in serious trouble.

All true, but that doesn't justify stock buybacks and offshoring.

This is another case of sacrificing people to save the numbers.

I say we kill all Six Sigma Black Belts and MBAs....after we kill the boomers.
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