I think Kipling was talking about its Historical Significance, its role in American Industry, etc etc.
And all of that was true... but that was last century, and it's a different world now. That's why it's going under.
Eh, GE Stock has been scraping low values for a while. There's so much capital the same cementing of capital won't happen like last time. There's likely a recession coming, but I doubt it will be a singular huge event vs. continual slide. I think a bigger theme may be a technology company correction on consumer stuff like WeWork and Uber where the financials are just loony.
WeWork is just pegging the crazyometer at "guano". It's a real estate company that brands itself as a tech company, and has all sorts of drama on top of that (the IPO filing has 10 pages devoted to how the CEO is a risk.)
The CEO paid himself $6million to buy the trademark of "We" (which, how the fuck) that he owned in another company he owns. A lot of the leases are also in real estate that he owns through another separate company. It's just... technically legal fraud the whole way down.
You forgot the part where he had his own company lend him the money to buy the property so they could be leased to WeWork.
I'm not panicking about selling my house yet. But I'm also not not panicking about it.
I know this is a late reply but much of my troubles with the city are due to my neighbor and the perceived property value. I have told them the shear amount of rentals effects it more than just my house. [last year he tired to start a HOA again but because of city laws he has to inform the whole area they want to incorporate. The person my brother calls the Land Baron owns 60% of the area he nearly owns one all the home on one street and 75% of the street that loops behind me} But things like the roads [it's gone in some areas where it's just a mix of decayed asphalt and gravel] my street like many others have noticeably large cracks filled with aggregate or plants. There is much much more they blame me for as well
But they see my house as a reason for not getting the top rate
Convince him that it is your fault and if he just buys you out at top rate and cleans it up he will reap the rewards on all his property.
When he refuses just tell him “guess its not my house then”
He is a connected old man and his daughter whom is bitter at taking care of him in his twilight
Because I feel she is a big problem of it through him as she will sell the house when he dies. I have told him it's not his house why does he care. I know I have to take better care of it as it needs paint and other things but I also think he sends people to do things to my yard as the fence was ripped up and the tarp was cut recently
Convince him that it is your fault and if he just buys you out at top rate and cleans it up he will reap the rewards on all his property.
When he refuses just tell him “guess its not my house then”
He is a connected old man and his daughter whom is bitter at taking care of him in his twilight
Because I feel she is a big problem of it through him as she will sell the house when he dies. I have told him it's not his house why does he care. I know I have to take better care of it as it needs paint and other things but I also think he sends people to do things to my yard as the fence was ripped up and the tarp was cut recently
That's not a steel industry problem. This is a U.S. Steel specific problem.
US Steel uses old and inefficient Blast Furnaces, so when the tariffs were announced they fired up more of those crazy old super costly furnaces for demand that wasn't coming because people just bought their domestic steel from companies that use more modern and efficient Electric Arc Furnaces.
I'd say anytime we're discussing Trump touting an industry, it's safe to say that includes the aspects of the industry in the US, while not really including the parts of the industry elsewhere in the world.
That's not a steel industry problem. This is a U.S. Steel specific problem.
US Steel uses old and inefficient Blast Furnaces, so when the tariffs were announced they fired up more of those crazy old super costly furnaces for demand that wasn't coming because people just bought their domestic steel from companies that use more modern and efficient Electric Arc Furnaces.
Yeah, when Finkl moved from Lincoln Park to the South Side they upped their capacity and cut both power consumption and staffing because a new plant is way more efficient than any upgrades made over a century to an old one. Even with all the Indiana tax incentives to upgrade Gary, it's never going to be an army of steelworkers at shift change like in the 40's. At best it'll be a large-ish local employer instead of a vacant lot.
That's not a steel industry problem. This is a U.S. Steel specific problem.
US Steel uses old and inefficient Blast Furnaces, so when the tariffs were announced they fired up more of those crazy old super costly furnaces for demand that wasn't coming because people just bought their domestic steel from companies that use more modern and efficient Electric Arc Furnaces.
Yeah, when Finkl moved from Lincoln Park to the South Side they upped their capacity and cut both power consumption and staffing because a new plant is way more efficient than any upgrades made over a century to an old one. Even with all the Indiana tax incentives to upgrade Gary, it's never going to be an army of steelworkers at shift change like in the 40's. At best it'll be a large-ish local employer instead of a vacant lot.
This is same reason onshoring never brings back as many jobs. New facilities are more efficient.
Yeah, but you'll never to see the oligarchs admit to that. Doing so would be them admitting that they really don't give damn about anyone outside a select few. It also starts calling into question several other things that'd rather not have people start questioning because that would eventually lead to pushes by the public for policy changes to make things less shitty, in a way that prevents them from stroking their egos with another yacht purchase.
That's not a steel industry problem. This is a U.S. Steel specific problem.
US Steel uses old and inefficient Blast Furnaces, so when the tariffs were announced they fired up more of those crazy old super costly furnaces for demand that wasn't coming because people just bought their domestic steel from companies that use more modern and efficient Electric Arc Furnaces.
Electric arc furnaces and blast furnaces don't serve the same purpose in industry. EAC's use scrap steel as their feed stock while blast furnaces are used for making raw steel from ore. You can make new steel from EAC's but not without stock that usually can be traced back to a blast furnace somewhere.
It turns out the steel industry is a bit more complicated than a 10 cent increase in the cost of a can of soup.
Cool, just put SS and Medicare in an even worse position
American voters are dumb as shit. All most of them will see is all the money Trump just "saved" them, SS and Medicare be damned.
They won't notice anything. Obama did a 'payroll tax holiday' for a few years from 2010-2013 to help goose the economy in the depths of the Recession. Which, it did somewhat since that put ~2% more wages in employees pockets, but the reason he did that is because it was nearly invisible and so people would spend the money weekly, unlike a windfall tax return which gets saved as often as spent.
It was also when demand had collapsed and there weren't many tools on hand. Doing it now when an expansion is mature is just stupid. This is when tax policy should be shoring up accounts, not weakening them with cuts.
A payroll tax cut will not pass the house either. Or at least it shouldn't.
Pelosi has already signaled that it would not. The trial balloon being floated through "sources" is that they'll talk about it if it comes with higher marginal rates on the top bracket.
A payroll tax cut will not pass the house either. Or at least it shouldn't.
Pelosi has already signaled that it would not. The trial balloon being floated through "sources" is that they'll talk about it if it comes with higher marginal rates on the top bracket.
I can see this as a White House trial balloon but I'd like to see McConnell commit to something on camera before thinking it was more than Trump's afternoon brainfart.
All opinions are my own and in no way reflect that of my employer.
Yeah, overall this is a totally dead idea. Trump is just trying to juice the economy a bit in the run-up to the election.
Since it looks like it's sputtering a bit, he needs to get it over the line so he wins the election, and whatever happens after that is of no consequence to him.
Yeah, overall this is a totally dead idea. Trump is just trying to juice the economy a bit in the run-up to the election.
It's this weird he obviously needs to do something about the economy because its about to take a wisconin cheese shit, but like they can't admit its about to do that, because his appeal to everyone he's done fuck all for is "look at that stock market!" when like everyday there is another article about jobs lost. Like Steel in michigan and there was a call center for eddie bauer in ohio shedding a 111 jobs.
But fundamentals of the economy are strong.
I would like some money because these are artisanal nuggets of wisdom philistine.
So in a couple of days the White House has gone from:
-The economy is doing great
-There is no recession coming
-My opponents are making up these economic numbers to make me look bad
-The recession will be short and small
This looks real bad when the White House keeps changing their position daily trying to cushion bad news. Also by getting their lies closer and closer to reality everyday it points to some really strong evidence/data that they can't even cover up.
It’s getting pretty clear that the strategy is just to run the economy as hot as possible until election day. I don’t think Trump is smart enough to realize that even if that works and he gets reelected, when the economy flops in 2021 or 2022 and interest rates are near zero already and we have already stripped the tax system down to the bone to spur spending he’s going to be the one left to get the blame.
He's a businessman running the country like a business. He won't feel any of the bad economy and he doesn't care about his legacy or believes he can Reagan his legacy.
It’s getting pretty clear that the strategy is just to run the economy as hot as possible until election day. I don’t think Trump is smart enough to realize that even if that works and he gets reelected, when the economy flops in 2021 or 2022 and interest rates are near zero already and we have already stripped the tax system down to the bone to spur spending he’s going to be the one left to get the blame.
Well, that'll sink his chances for a third term.
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daveNYCWhy universe hate Waspinator?Registered Userregular
It’s getting pretty clear that the strategy is just to run the economy as hot as possible until election day. I don’t think Trump is smart enough to realize that even if that works and he gets reelected, when the economy flops in 2021 or 2022 and interest rates are near zero already and we have already stripped the tax system down to the bone to spur spending he’s going to be the one left to get the blame.
This administration is incapable of doing the things that would be required to goose the economy for the next year. The fed is still run by professionals, so they're not going to drop the rate by 100bps like he wants; and monetary policy works slowly anyway. Fiscal stimulus would be the best plan. Pass a nice fat spending bill for something or other. Except Republicans are allergic to anything of the sort and the administration is so corrupt that a huge chunk of that money would disappear into the grift machine.
Shut up, Mr. Burton! You were not brought upon this world to get it!
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Hell, I fully expect GE to announce bankruptcy and then get bought out by Siemens.
And all of that was true... but that was last century, and it's a different world now. That's why it's going under.
You forgot the part where he had his own company lend him the money to buy the property so they could be leased to WeWork.
“Let’s see...dishwashers, no...light bulbs, think I’m good...microwaves, hmmm no ‘hot-pocket cheese explosion prevention’ feature, pass....oh speaking of nuclear hot, nuclear power plants, yep add to cart...”
Which is not even that funny in my head and I don’t know why I shared it with you all...
I know this is a late reply but much of my troubles with the city are due to my neighbor and the perceived property value. I have told them the shear amount of rentals effects it more than just my house. [last year he tired to start a HOA again but because of city laws he has to inform the whole area they want to incorporate. The person my brother calls the Land Baron owns 60% of the area he nearly owns one all the home on one street and 75% of the street that loops behind me} But things like the roads [it's gone in some areas where it's just a mix of decayed asphalt and gravel] my street like many others have noticeably large cracks filled with aggregate or plants. There is much much more they blame me for as well
But they see my house as a reason for not getting the top rate
When he refuses just tell him “guess its not my house then”
He is a connected old man and his daughter whom is bitter at taking care of him in his twilight
Because I feel she is a big problem of it through him as she will sell the house when he dies. I have told him it's not his house why does he care. I know I have to take better care of it as it needs paint and other things but I also think he sends people to do things to my yard as the fence was ripped up and the tarp was cut recently
Get some cameras
Conway: The fundamentals of the economy are strong.
That’s the opposite of the actual situation?
Like it’s the top line that’s been strong, if incredibly volatile
The fundamentals are completely fucked
I've heard that message before.
Hopefully it has the same impact on the electorate.
battletag: Millin#1360
Nice chart to figure out how honest a news source is.
Cripes.
Yeah, I had a similar reaction when I saw that number too.
With what's happening to farmers, truckers, and the steel industry, among others, Trump saying he'll "help you out" looks to be the kiss of death.
It means he will be focusing his market manipulation grift cannons at you, and no one can withstand fire of that magnitude for long.
MWO: Adamski
But he makes them *feel* good about themselves, and that's what really matters, even as they search empty job sites for minimum wage temp gigs.
That's not a steel industry problem. This is a U.S. Steel specific problem.
US Steel uses old and inefficient Blast Furnaces, so when the tariffs were announced they fired up more of those crazy old super costly furnaces for demand that wasn't coming because people just bought their domestic steel from companies that use more modern and efficient Electric Arc Furnaces.
battletag: Millin#1360
Nice chart to figure out how honest a news source is.
Yeah, when Finkl moved from Lincoln Park to the South Side they upped their capacity and cut both power consumption and staffing because a new plant is way more efficient than any upgrades made over a century to an old one. Even with all the Indiana tax incentives to upgrade Gary, it's never going to be an army of steelworkers at shift change like in the 40's. At best it'll be a large-ish local employer instead of a vacant lot.
This is same reason onshoring never brings back as many jobs. New facilities are more efficient.
battletag: Millin#1360
Nice chart to figure out how honest a news source is.
Electric arc furnaces and blast furnaces don't serve the same purpose in industry. EAC's use scrap steel as their feed stock while blast furnaces are used for making raw steel from ore. You can make new steel from EAC's but not without stock that usually can be traced back to a blast furnace somewhere.
It turns out the steel industry is a bit more complicated than a 10 cent increase in the cost of a can of soup.
Cool, just put SS and Medicare in an even worse position
American voters are dumb as shit. All most of them will see is all the money Trump just "saved" them, SS and Medicare be damned.
They won't notice anything. Obama did a 'payroll tax holiday' for a few years from 2010-2013 to help goose the economy in the depths of the Recession. Which, it did somewhat since that put ~2% more wages in employees pockets, but the reason he did that is because it was nearly invisible and so people would spend the money weekly, unlike a windfall tax return which gets saved as often as spent.
It was also when demand had collapsed and there weren't many tools on hand. Doing it now when an expansion is mature is just stupid. This is when tax policy should be shoring up accounts, not weakening them with cuts.
pleasepaypreacher.net
Pelosi has already signaled that it would not. The trial balloon being floated through "sources" is that they'll talk about it if it comes with higher marginal rates on the top bracket.
I can see this as a White House trial balloon but I'd like to see McConnell commit to something on camera before thinking it was more than Trump's afternoon brainfart.
Since it looks like it's sputtering a bit, he needs to get it over the line so he wins the election, and whatever happens after that is of no consequence to him.
It's this weird he obviously needs to do something about the economy because its about to take a wisconin cheese shit, but like they can't admit its about to do that, because his appeal to everyone he's done fuck all for is "look at that stock market!" when like everyday there is another article about jobs lost. Like Steel in michigan and there was a call center for eddie bauer in ohio shedding a 111 jobs.
But fundamentals of the economy are strong.
pleasepaypreacher.net
-The economy is doing great
-There is no recession coming
-My opponents are making up these economic numbers to make me look bad
-The recession will be short and small
This looks real bad when the White House keeps changing their position daily trying to cushion bad news. Also by getting their lies closer and closer to reality everyday it points to some really strong evidence/data that they can't even cover up.
(just as my current job is ending, yaaaaay)
Well, that'll sink his chances for a third term.
This administration is incapable of doing the things that would be required to goose the economy for the next year. The fed is still run by professionals, so they're not going to drop the rate by 100bps like he wants; and monetary policy works slowly anyway. Fiscal stimulus would be the best plan. Pass a nice fat spending bill for something or other. Except Republicans are allergic to anything of the sort and the administration is so corrupt that a huge chunk of that money would disappear into the grift machine.