AuthorTopic: The “Gig Economy”  (Read 9746 times)

Offline azozeo

  • Master Chef
  • *****
  • Posts: 9741
    • View Profile

by Michael Snyder

We are facing a corporate debt bomb that is far, far greater than what we faced in 2008, and we are being warned that this “unexploded bomb” will “amplify everything” once the financial system starts melting down.  Thanks to exceedingly low interest rates, over the last decade U.S. corporations have been able to go on the greatest corporate debt binge in history.  It has been a tremendous “boom”, but it has also set the stage for a tremendous “bust”.  Large corporations all over the country are now really struggling to deal with their colossal debt burdens, and defaults on the riskiest class of corporate debt are on pace to hit their highest level since 2008.  Everyone can see that a major corporate debt disaster is looming, but nobody seems to know how to stop it.

At this point, companies listed on our stock exchanges have accumulated a total of almost 10 trillion dollars of debt.  That is equivalent to approximately 47 percent of U.S. GDP…



http://theeconomiccollapseblog.com/archives/47-percent-of-gdp-this-is-definitely-the-scariest-corporate-debt-bubble-in-u-s-history
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline azozeo

  • Master Chef
  • *****
  • Posts: 9741
    • View Profile
“Gig Economy” - Californication of Texas & points east...
« Reply #76 on: December 14, 2019, 05:59:22 PM »

Californians Flee The State In Droves And Flock To Texas

DECEMBER 12, 2019

By Mac Slavo

Californians are fleeing the state in droves to avoid the massive tax burden and oppressing business policies of the totalitarian state. Of the 700,000 who fled California last year, 10% ended up in Texas, which is a much more business-friendly state.

And it isn’t just individuals who are leaving.  As Zerohedge reported, the influx of Californians should come as no surprise, as businesses have been migrating out of the high-tax, high-crime, heavily regulated state for cheaper pastures.

    Last month, we reported that Charles Schwab’s relocation of their headquarters from San Francisco to Dallas, a move they expect to complete in the second half of 2020. Announced following the company’s $26 billion acquisition of TD Ameritrade, their new 70-acre Dallas-Fort Worth campus will cost around $100 million, and provide 500,000 square-feet of office space.

    Chairman and founder Charles Schwab noted that one of the drivers behind the move from California was that “the costs of doing business here are so much higher than some other place.” – Zerohedge

https://www.activistpost.com/2019/12/californians-flee-the-state-in-droves-and-flock-to-texas.html
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline Surly1

  • Administrator
  • Master Chef
  • *****
  • Posts: 18133
    • View Profile
    • Doomstead Diner
Re: “Gig Economy” - Californication of Texas & points east...
« Reply #77 on: December 15, 2019, 12:40:32 AM »

Californians Flee The State In Droves And Flock To Texas

DECEMBER 12, 2019

By Mac Slavo

Californians are fleeing the state in droves to avoid the massive tax burden and oppressing business policies of the totalitarian state. Of the 700,000 who fled California last year, 10% ended up in Texas, which is a much more business-friendly state.

More typical Mac Slavo half-truths.

Wealthier people and those from states like New York and Illinois are moving in by the droves to California while young people with less money are bailing out to states such as Texas, Arizona and Nevada. Net loss @ 1 million, but essentially a wash.

https://www.sandiegouniontribune.com/opinion/the-conversation/sd-california-losing-low-income-people-gaining-wealthy-people-per-report-20180221-htmlstory.html
"Do not be daunted by the enormity of the world's grief. Do justly now, love mercy now, walk humbly now. You are not obligated to complete the work, but neither are you free to abandon it."

Offline azozeo

  • Master Chef
  • *****
  • Posts: 9741
    • View Profile
Re: “Gig Economy” - Californication of Texas & points east...
« Reply #78 on: December 15, 2019, 08:33:42 AM »

Californians Flee The State In Droves And Flock To Texas

DECEMBER 12, 2019

By Mac Slavo

Californians are fleeing the state in droves to avoid the massive tax burden and oppressing business policies of the totalitarian state. Of the 700,000 who fled California last year, 10% ended up in Texas, which is a much more business-friendly state.

More typical Mac Slavo half-truths.

Wealthier people and those from states like New York and Illinois are moving in by the droves to California while young people with less money are bailing out to states such as Texas, Arizona and Nevada. Net loss @ 1 million, but essentially a wash.

https://www.sandiegouniontribune.com/opinion/the-conversation/sd-california-losing-low-income-people-gaining-wealthy-people-per-report-20180221-htmlstory.html


Actually, this has been going on since I left in 1980 to Colo. Spgs. & then moved back with my tail between my legs.

I haven't been back since the 90's & from the reports I get from friends & neighbors here in Az. is "don't bother".....

I do remember going back for a family members funeral & my eyes burned something fierce from the poor air quality, back then.
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 40708
    • View Profile
🧑‍🏭 U.S. manufacturing slump worsens in December as ISM index falls
« Reply #79 on: January 04, 2020, 12:12:31 AM »
Some factory workers will need new Gig jobs.

RE

https://www.marketwatch.com/story/us-manufacturing-slumps-worsens-in-december-as-ism-index-falls-to-10-year-low-2020-01-03

U.S. manufacturing slump worsens in December as ISM index falls to 10-year low

Published: Jan 3, 2020 10:50 a.m. ET

A worker welds metal components in Pennsylvania. U.S. manufacturers have struggled to maintain growth after the flare up in trade tensions with China last summer.
       
U.S. manufacturing contracts for fifth straight month amid trade war with China


By Jeffry Bartash


The numbers: A slump of among American manufacturers deepened in December as a survey of senior executives showed the weakest performance in more than 10 years.

The Institute for Supply Management said its manufacturing index slid to 47.2% last month from 48.1% in November, marking the fifth straight contraction. It’s softest reading since June 2009 — just as the U.S. was exiting the Great Recession.

Readings below 50% indicate more companies are contracting instead of expanding.

The deterioration in December stemmed in part from Boeing BA, -0.17%  suspending production of its troubled 737 Max jetliner and the residue of a recent strike at General Motors GM, -2.84%  , but the report showed broad weakness in manufacturing tied to the ongoing trade war with China.

Economists surveyed by MarketWatch had forecast the index to total 48.8%.

What happened: The ISM’s index of production sank 5.9 points to 43.2%, hitting the lowest level in almost 11 years. Boeing and GM played a big role in the decline, but the most other industries reported contraction, too.
Now Playing:
Why the U.S. and Iran Don't Want a War
Visit our Video Center

The index for new orders fell slightly to 46.8% while a gauge of employment slid 1.5 points to just 45.1%.

Only three of the 18 industries tracked by the ISM said their businesses expanded in December. That’s matches the fewest since 2009.

The index is compiled from a survey of executives who order raw materials and other supplies for their companies. The gauge tends to rise or fall in tandem with the health of the economy.

Big picture: Although manufacturers ended the year on a sour note, they hope the first phase of an agreement between the U.S. and China to resolve a damaging trade dispute leads to a further easing of tensions between the world’s two largest economies.

“Global trade remains the most significant cross-industry issue, but there are signs that several industry sectors will improve as a result of the phase-one trade agreement between the U.S. and China,” said Timothy Fiore, chairman of the survey.

The trade war hurt both countries last year as well as the broader global economy. American manufacturers began to contract at the end of the summer, though scattered signs of a rebound are staring to emerge.

What’s shielded the U.S. from further harm is steady growth in the much larger service sector of the economy. Manufacturing plays a much smaller role in the economy than it did several decades ago.

“The bottom line is that the modest deterioration in December in an already sluggish manufacturing sector is unquestionably a disappointment,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors. “Even so, activity remains well above levels typically associated with a recession.”

Read: U.S. economy enters 2020 on firmer footing

What they are saying: “Due to sluggish sales, we have introduced promotions to generate increased sales,” said an executive at a chemicals maker.

“Starting to see suppliers try to pass on costs associated with tariffs,” said an executive at a maker of food products. “Uncertainty on the trade front continues to keep agricultural markets on the defensive.”

Market reaction: The Dow Jones Industrial Average DJIA, -0.81% and S&P 500 SPX, -0.71% fell sharply in Friday trades after the U.S. killed a top Iranian military leader.

Oil prices surged and The 10-year Treasury yield TMUBMUSD10Y, -4.69% sank 10 basis points to 1.83%.

Jeffry Bartash is a reporter for MarketWatch in Washington.
Save As Many As You Can

Offline azozeo

  • Master Chef
  • *****
  • Posts: 9741
    • View Profile
Re: The “Gig Economy”
« Reply #80 on: January 20, 2020, 04:40:46 PM »

Why Manhattan’s Skyscrapers Are Empty

Approximately half of the luxury-condo units that have come onto the market in the past five years are still unsold.
January 16, 2020

In Manhattan, the homeless shelters are full, and the luxury skyscrapers are vacant.

Such is the tale of two cities within America’s largest metro. Even as 80,000 people sleep in New York City’s shelters or on its streets, Manhattan residents have watched skinny condominium skyscrapers rise across the island. These colossal stalagmites initially transformed not only the city’s skyline but also the real-estate market for new homes. From 2011 to 2019, the average price of a newly listed condo in New York soared from $1.15 million to $3.77 million.


https://www.theatlantic.com/ideas/archive/2020/01/american-housing-has-gone-insane/605005/?utm_source=pocket-newtab
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

 

Related Topics

  Subject / Started by Replies Last post
0 Replies
817 Views
Last post May 20, 2016, 02:39:13 AM
by Guest
0 Replies
469 Views
Last post September 09, 2016, 03:56:29 PM
by Palloy
0 Replies
270 Views
Last post January 20, 2019, 09:17:07 AM
by azozeo