The Economy (2020/21)
- Thread starter rideit
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I worry a lot about China coming to power.
I have worked at companies distributing european/japanese/chinese car manufacturers in south america.
My take on the employees I did business with.
Europeans business people/employees. Nice workload, nice life-work balance, stay at nice hotels, have nice meals, seems like they lead nice lives.. these people actually have hobbies/interests, and talk about life outside work.
Japanese: Huge workload (few people, a lot of responsabilities), OK life-work balance, stay at nice hotels, have awesome meals, work hard, drink hard.
Chinese: Severely underpaid (their salaries are lower than the equivalent in Peru), crappy motel/hotel, lousy meals, severely understaffed, and high employee turnover. I rarely saw the same face from than twice.
Same at the trade shows all over the world. We all dreaded about the day we would become employees of a chinese manufacturer.
Engineers were paid $1000/month and sent overseas for extended times on $30/night hotels. Lead times for spares could be as long as 8-9 months and fill rates were under 80% in 30 days.
I have worked at companies distributing european/japanese/chinese car manufacturers in south america.
My take on the employees I did business with.
Europeans business people/employees. Nice workload, nice life-work balance, stay at nice hotels, have nice meals, seems like they lead nice lives.. these people actually have hobbies/interests, and talk about life outside work.
Japanese: Huge workload (few people, a lot of responsabilities), OK life-work balance, stay at nice hotels, have awesome meals, work hard, drink hard.
Chinese: Severely underpaid (their salaries are lower than the equivalent in Peru), crappy motel/hotel, lousy meals, severely understaffed, and high employee turnover. I rarely saw the same face from than twice.
Same at the trade shows all over the world. We all dreaded about the day we would become employees of a chinese manufacturer.
Engineers were paid $1000/month and sent overseas for extended times on $30/night hotels. Lead times for spares could be as long as 8-9 months and fill rates were under 80% in 30 days.
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I am quite aware of the issues as well, and rest assured I am not defending China, I am pointing out the reality of the situation there.
Americans constantly harp on about it like it’s some sort of, well exactly as earlier, 1930s backwards failed state. I’m simply pointing out that it is pretty fucking far from that. That is far from ‘defending’ unless you think like a republican. I have no desire to see China become the dominant superpower. It’s surprising to me how butt-hurt you are by reality. I’m not even going to get into the cognitive dissonance thing.
Did China touch you when you were a child? Sheesh. You seem to equate someone pointing out reality with a ‘hard-on’. Maybe you should work on that. As you might also have noticed from your apparent study of my post history, I am also a pretty huge fan of social justice so, as before, I have no desire to see China at the top of the pile. However they are headed that way pretty fast right now and when someone points that out and you can’t handle it you look like a bit of a cock with a response like this IMO. When it gets to the point that reality is offensive to you, maybe you should go hang out with donnie.
I have worked and lived in China, thank you very much. Nowhere am I denying their technological level or the effectiveness of their autocratic surveillance state, but if your assessment reads like this I don’t know what to tell you, other than that you strike me as the kind of fellow that really needs a holiday in Cambodia. They really got things done you know.
Part of cognitive dissonance is failure to look at the complete picture.
Share of primary energy from renewable sources
Renewable energy sources includes hydropower, solar, wind, geothermal, bioenergy, wave and tidal. It does not include traditional biofuels, which can be a key energy source especially in lower-income settings.
ourworldindata.org
Wow reading fail much? Curious how you perceived butt hurt from what I wrote..
I am not harping on China any more than I am defending the US, which is to say I am doing neither simply pointing out your simplistic description is sorely lacking a nuanced understanding of reality.
I am not cheerleading any country and my last sentence was directed at both the US and China.
I am not harping on China any more than I am defending the US, which is to say I am doing neither simply pointing out your simplistic description is sorely lacking a nuanced understanding of reality.
I am not cheerleading any country and my last sentence was directed at both the US and China.
Self deprecation ignored or not understood?
Part of cognitive dissonance is failure to look at the complete picture.
Share of primary energy from renewable sources
Renewable energy sources includes hydropower, solar, wind, geothermal, bioenergy, wave and tidal. It does not include traditional biofuels, which can be a key energy source especially in lower-income settings.
It's kinda funny how a dictatorship and blatant disregard for human rights is okay as long as the political direction supports one's world views. China will win the race to a total annihilation of free will and any form of dissent against the elites. N Korea's determination to get there is awesome but they lack the technology and resources unlike its big red bro.
I didn't even mention the uighur situation.
Like this:
abcnews.go.com
That was my entire point. A free people just gets in the way (ask me how I know).
Pressing 'efficiency' in china is spooky. And will overwork people, further create shitty working conditions etc. Yeah they make nice stuff. Because when someone drops dead there's always another hire available.
This was last year, and they're STILL doing this shit right now
www.thedailybeast.com
yeah man, authoritarian governments tend to get shit done
Like this:
Missing and incarcerated: What is happening within China’s borders?
COVID-19 travel bans have only further obscured China’s alleged human rights abuses, but experts say it’s “business as usual” behind the iron curtains.
abcnews.go.com
That was my entire point. A free people just gets in the way (ask me how I know).
Pressing 'efficiency' in china is spooky. And will overwork people, further create shitty working conditions etc. Yeah they make nice stuff. Because when someone drops dead there's always another hire available.
This was last year, and they're STILL doing this shit right now
China Arrested Doctors Who Warned About Coronavirus Outbreak. Now Death Toll’s Rising, Stocks Are Plunging.
The World Health Organization has praised Beijing’s “transparency” and its impressive ability to lock down tens of millions of people. But its fatal first instinct was censorship.
www.thedailybeast.com
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Westy: a buddy of mine who builds trails professionally had a similar experience. The gov't flew him over there to some hilly rural area to build a "world cup downhill course" and a bike park.
Basically ended up threatening him when he started not working 12 hour days because that shit gets tiring after a week. Same kind of deal, he bailed. There's not a lot that makes him uncomfortable but he was a little sketched about being able to get back. It involved the embassy.
Basically ended up threatening him when he started not working 12 hour days because that shit gets tiring after a week. Same kind of deal, he bailed. There's not a lot that makes him uncomfortable but he was a little sketched about being able to get back. It involved the embassy.
"Yay! we're gonna make nice solar panels!!"
%2Fhttps%3A%2F%2Fwww.thestar.com%2Fcontent%2Fdam%2Fthestar%2Fbusiness%2F2019%2F07%2F16%2Fhong-kong-protests-have-citys-residents-plotting-their-exit%2Fhong_kong_protests.jpg&f=1&nofb=1)
That's like my last job. They do that when they call you a "contract" worker that doesn't actually work for the business you work for.
I don't disagree with the human rights concerns about China. I just see the issue of trying to compete with emerging nations in terms of production as ridiculous. It will keep happening.
just a reminder that the stock market is not the economy.
but the stock market is having a good morning.
but the stock market is having a good morning.
Stock market LOVES a good ol' failed coup.
must be time for tapas!
I had tapas last night. True story.
I may have some tapas this evening... I like tapas. Maybe tacos and tapas.
Boeing Agrees to Pay $2.5 Billion In DOJ Settlement (UPDATED) - AVweb
The U.S. Department of Justice announced today that Boeing has agreed to a $2.5 billion settlement in criminal charges relating to a “conspiracy to defraud” the FAA during the 737 MAX’s certification process.
www.avweb.com
So about those 737-MAX...
amp.scmp.com
Indonesia searches for missing Boeing plane feared to have crashed into sea
Authorities said the last contact they had with Sriwijaya Air flight SJ 182 was at 2.20pm and an intensive search is ongoing in the waters off Jakarta. The plane was heading for Pontianak in West Kalimantan.
amp.scmp.com
500 series /= Max.So about those 737-MAX...
Indonesia searches for missing Boeing plane feared to have crashed into sea
Authorities said the last contact they had with Sriwijaya Air flight SJ 182 was at 2.20pm and an intensive search is ongoing in the waters off Jakarta. The plane was heading for Pontianak in West Kalimantan.
No, but it is Boeing. I think that the company has perhaps come to the end of its useful lifespan.
No argument from me.
You seem to have a lot of free time....."Yay! we're gonna make nice solar panels!!"
You seem to have a crush on me.
Is it you, or is it the nips?You seem to have a crush on me.
I can't tell the difference any more. It's all so alluring to the casual edgelord I'm sure.
Keeping subjects and predicates straight can be hard, I get it.
Buddy and I who worked together at Bloomberg were talking about the idiots over at WallStreetBets on Reddit and how they've driven GameStop through the roof with a short-squeeze. Given how it's being driven by a coordinated effort, the SEC is probably going to come down pretty hard on them. Ignorance of law doesn't make you immune to it...
But on topic. So general market was down 2.5% today. He pulled up a screen that showed all companies up >20% and their current short ratio - there are over 10 major companies with no justification: BB&B, Kodak, Express, Dillard's, amongst others. Then pulled a screen showing all companies that were down >10% (4x market). The list of the latter has a lot of the growth names popular with hedge funds as regularly volatile (volatility = near-term profit of done right). He then took that list of names and cross-referenced it over long-short hedge funds that hold those names as of the 4Q20 13f filing. The overlap is substantial.
The idiots on Reddit/WSB have forced short-squeezes over enough companies, that brokers are calling in short positions, which is forcing hedge funds to sell other positions, to close their short positions. The idiots at Reddit/WSB, just pushed the overall market down today based on no news that would push it down. If anything, the Fed saying they would keep rates low should push the mkt up.
Man... These guys are going to get fucking throttled by the SEC. I've sat back and watched that sub because it's just amazing to watch the logic of some of those guys, but made a point of staying clear because of the shit going on right now. These guys are going to get fucking rocked for market manipulation. And to add to it, to identify the list of companies that have short positions to target, you need a tool like a Bloomberg or Thomson, which are like $30k/yr. They are professional tools, so there is likely someone who is in industry involved in that shit too.
It's just... Wow.
But on topic. So general market was down 2.5% today. He pulled up a screen that showed all companies up >20% and their current short ratio - there are over 10 major companies with no justification: BB&B, Kodak, Express, Dillard's, amongst others. Then pulled a screen showing all companies that were down >10% (4x market). The list of the latter has a lot of the growth names popular with hedge funds as regularly volatile (volatility = near-term profit of done right). He then took that list of names and cross-referenced it over long-short hedge funds that hold those names as of the 4Q20 13f filing. The overlap is substantial.
The idiots on Reddit/WSB have forced short-squeezes over enough companies, that brokers are calling in short positions, which is forcing hedge funds to sell other positions, to close their short positions. The idiots at Reddit/WSB, just pushed the overall market down today based on no news that would push it down. If anything, the Fed saying they would keep rates low should push the mkt up.
Man... These guys are going to get fucking throttled by the SEC. I've sat back and watched that sub because it's just amazing to watch the logic of some of those guys, but made a point of staying clear because of the shit going on right now. These guys are going to get fucking rocked for market manipulation. And to add to it, to identify the list of companies that have short positions to target, you need a tool like a Bloomberg or Thomson, which are like $30k/yr. They are professional tools, so there is likely someone who is in industry involved in that shit too.
It's just... Wow.
maybe the problem isn't the trolls, maybe the problem is the market is so susceptible to being trolled.