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This economy looks like shit (hexbear.net)

submitted 1 week ago by Assian_Candor@hexbear.net to c/chat@hexbear.net

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Had a beer with a friend this weekend who works in car rentals. Says numbers are way down. Auto manufacturers don't want to sell cars to rental fleets because they're already having trouble moving inventory to new buyers and don't want a flood of late model second hand cars.

Clean energy, one of the few growth sectors in the US, was unceremoniously shot as part of BBB. They're cutting huge chunks from the government.

Inflation looks like shit. 12 pack of coke is 10 fucking dollars (who cares I'll keep drinking that garbage). My household has certainly pulled back as have many others. And tariffs haven't started to bite yet.

Housing markets are frozen in the south. saw a piece out there this morning that AI capital investment contributed more to GDP than consumer spending.

BLS numbers were so bad Trump shot the messenger. This is only the beginning as well, three and a half more years to go. And then we get Buttigieg I guess? There's no way out.

What are you folks seeing out there? Lets gather up our anecdata

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[–] SnuggleButt@hexbear.net 59 points 1 week ago (2 children)

Warehouse and distribution center I do some side work for has legitimately considered closing its doors. It’s been around 50+ years with a fairly healthy cash flow. I guess that’s more abstractly indicative of a failing economy not a particular sector

Also inflation is also way way waaaay higher than reports ever indicate. Hedonic adjustment keeps adjusting for the quality of goods improving, when in reality most aren’t, and some are actively getting worse. Economists are so smart aren’t they

[–] Assian_Candor@hexbear.net 39 points 1 week ago

Funny how those numbers only ever go one way

These days I think e-commerce volume is the number one leading indicator of contraction

[–] CthulhusIntern@hexbear.net 10 points 1 week ago

There were a couple of good economists, but they're all ignored by modern economists. Ignoring Marx in economics is like ignoring Newton in physics.