The Economy

[Lazaran]

1929 is a really good read. It would make a good TV series, which would also be good for public education.

Low education voters wouldn’t “get” it.

Low information voters wouldn’t watch it.

Decent, intelligent individuals (high information - high education voters) ALREADY understood most of the similarities between “then and now” that Sorkin reportedly "discovered".



I imagine some "elites" might "enjoy" it…



We. Told. Them. So.

 

[coati]

No, you are lying .... the silver market is controlled by the tribe, supply and demand....as well as 50 years of democrat deficit spending, bullshit social programs and a war we are funding in Ukraine, that China, Russia and India are leveraging silver to destroy the US economy... you are far too shallow, blind and filled with hatred to visualize the truth even when this shitfuckery drains your wallet while you huddle on the street similar to commercial beaver

You sound upset.

You'll still be blaming Democrats and others even after the Pig totally crashes the economy with his chaotic tariff policies and deficit spending.

That's why your simple-minded theories are irrelevant and ignored.

 

[Wilson23]

That's why your simple-minded theories are irrelevant and ignored.

But still win elections.

 

[coati]

But still win elections.

Look at the election results during the past year. Two-bit payoffs and rigging the Fed will not change that election trend.

 

[MajorRewrite]

Decent, intelligent individuals (high information - high education voters) ALREADY understood most of the similarities between “then and now” that Sorkin reportedly "discovered".

The book isn’t a comparison between 1929 and now. It’s the story of what happened then, and focuses on some of the people who were heavily involved.

 

[Lazaran]

The book isn’t a comparison between 1929 and now. It’s the story of what happened then, and focuses on some of the people who were heavily involved.

Yeah, but it’s getting "acclaim" and generating "buzz" because of the similarities- which Sorkin is playing off / profiting from.

And the whole while Sorkin is playing coy about the obvious similarities - refusing to come right out and say what everyone (decent, intelligent individuals) else CLEARLY recognizes.



Sorkin is becoming redundant and tedious (and somewhat patronizing), imho.

It’s like the guy is trying to "break the news to the kids gently" - even as the smart kids are way ahead of him, the low education kids won’t understand regardless, and the low information kids won’t care regardless…



Sorkin is the classic example of the pejorative "elite".



See also (From “PageSix”:

Power crowd including Dimon, Bloomberg, Ackman and Martha at Waldorf-Astoria bash for Andrew Ross Sorkin’s new book, ‘1929’​

By
Published Oct. 15, 2025, 1:33 a.m. ET
It was apropos that the newly renovated Waldorf Astoria New York was the scene where a roomful of power brokers toasted Andrew Ross Sorkin’s new book “1929: Inside the Greatest Crash in Wall Street History – and How It Shattered a Nation” this week.

The Astor family sold the hotel (then in a different location) in 1929 to the developers of the Empire State Building, and financing was set up for the new Park Avenue address before the stock market infamously tanked.

The “Too Big to Fail” author hosted an A-list cocktail party to mark the launch of his latest tome about the crash, we hear.

Guests spotted mixing included JPMorgan Chase CEO Jamie Dimon, Martha Stewart, Barry Diller, Julianna Margulies, former Mayor Michael Bloomberg, Gayle King, former Treasury Secretary Tim Geithner, NBA Commissioner Adam Silver, hedge fund titan Bill Ackman, new Vogue editor Chloe Malle, author Ron Chernow and restaurateur Danny Meyer.

The author told the crowd: “I’m hoping we never have another crash. I wrote ‘1929’ as the prequel to ‘Too Big to Fail’ — in hopes I never have to write the sequel,” an attendee told us.

Both Sorkin and Dimon have been warning investors this week about market jitters — “proving history may not repeat, but it sure rhymes,” the guest said.



We. Told. Them. So.

 

[schism666]

 

[heathrowinneo]

The book isn’t a comparison between 1929 and now. It’s the story of what happened then, and focuses on some of the people who were heavily involved.

The book does draw parallels between then and now citing technology, market volatility and speculation more so around crypto. You may not like Ross-Sorkin but he does provide some interesting insights.

 

[Lazaran]

The book does draw parallels between then and now citing technology, market volatility and speculation more so around crypto. You may not like Ross-Sorkin but he does provide some interesting insights.

In the interview(s) I watched, Sorkin cast investments in RCA in the role of today’s AI investments.

A deregulated financial sector and the advent of lending for stock purchases was also cited.

It all seems quite obvious and redundant, because things like that are what decent, intelligent individuals have ALWAYS been warning about before EVERY market crash.

And yet, here we are (See: My previous comment about the smart kids, low education kids, and low information kids).



We. Told. Them. So.

 

[MajorRewrite]

The S&P 500 gained 16% in 2025.

For context, it gained 23% in 2024.

 

[Buffalogurl]

You sound upset.

You'll still be blaming Democrats and others even after the Pig totally crashes the economy with his chaotic tariff policies and deficit spending.

That's why your simple-minded theories are irrelevant and ignored.

No, you are full of lies.... as is the norm with you....
If fact you will speak lies, when the truth would serve you better....

 

[Buffalogurl]

During the new year holiday.... the Chinese ban on silver export went into effect 4 hours before the official deadline...stopping a 41 ton shipment of physical silver from delivery to the cme....
(cause and effect)..... when the special delegation arrived from the U.S. to beg for mercy, the Chinese flat stated...piss off...
Within minutes a phone call to the federal reserve out of Chicongo authorized a (now read this carefully) 106 Billion dollar loans from the federal reserve repo market to shore up insolvent banks trapped in the silver short..... keep in mind this account is the lender of last resort...
at present the cme valt is 42 million ounces short of physical delivery .....
Keep in mind if these banks fail so does the derivatives the banks hold causing a cascading disaster of a biblical proportion .......... this reportedly will make lemem brothers, bear sterns and AGI collapse seem like, a error in a personal checking account..... anyway happy new year

 

[ll74]

At of everyone here, BG is the most tinfoily hat of them all.

 

[coati]

During the new year holiday.... the Chinese ban on silver export went into effect 4 hours before the official deadline...stopping a 41 ton shipment of physical silver from delivery to the cme....
(cause and effect)..... when the special delegation arrived from the U.S. to beg for mercy, the Chinese flat stated...piss off...
Within minutes a phone call to the federal reserve out of Chicongo authorized a (now read this carefully) 106 Billion dollar loans from the federal reserve repo market to shore up insolvent banks trapped in the silver short..... keep in mind this account is the lender of last resort...
at present the cme valt is 42 million ounces short of physical delivery .....
Keep in mind if these banks fail so does the derivatives the banks hold causing a cascading disaster of a biblical proportion .......... this reportedly will make lemem brothers, bear sterns and AGI collapse seem like, a error in a personal checking account..... anyway happy new year

^^^All this is further indication that the U.S. economy will crash under the Pig administration, and yet, the MAGAts will blame it on Democrats.

 

[Rightguide]

One Year Later: The Results of Gavin Newsom’s Fast Food Minimum Wage Hike Are In​

2 Comments / By Kyle Stevenson / January 1, 2026


Reason Magazine reporter Bess Byers outlined the economic consequences of California’s fast food minimum wage law while highlighting comments from Gov. Gavin Newsom defending exemptions built into the legislation.
The law, known as AB 1228, raised wages for fast food workers and created a new regulatory structure, but Byers said the results have included job losses, restaurant closures, and higher prices.

“One year after implementing the so called FAST Act, we are finally seeing its effects, and they are exactly what you would expect,” Byers said. “Rubio’s coastal grill closed 48 locations across the state. MOD Pizza closed five and Pizza Hut laid off all 1200 delivery drivers,” she said.

Byers said the employment data showed significant losses. “In total, fast food employment decreased by 2.7% which cost California 18,000 jobs,” she said. She added that remaining workers also felt the impact.

“Restaurants replaced employees with digital kiosks, and those who did keep their jobs saw their hours decrease by almost two months per year,” she said.

https://wokespy.com/one-year-later-the-results-of-gavin-newsoms-fast-food-minimum-wage-hike-are-in/

 

[RobDownSouth]

“One year after implementing the so called FAST Act, we are finally seeing its effects, and they are exactly what you would expect,” Byers said. “Rubio’s coastal grill closed 48 locations across the state. MOD Pizza closed five and Pizza Hut laid off all 1200 delivery drivers,” she said.​

Gotta love the fast food industry cherry pickin' that data!

Pop quiz: what doe Rubio's coastal grill, Mod Pizza and Pizza Hut have in common?

Answer: hedge funds and vulture capitalism.

Rubio's grill was founded as a "me too!" competitor to the Chipotle behemoth. Cheaper ingredients, lower labor costs and slightly lower prices. They could not compete, so they were sold to vulture capitalists and rebranded as a "seafood version of Chipotle" to make them different. They took the worst hit from the minimum wage hike, as their slim profit margins were the result of their bare-bones labor model and one third of their franchises were in California. Unsustainable business model.

The decline in Pizza delivery restaurants has been well documented. They've been circling the drain for years now....made worse by President Donald Stroke's disasterous response to the Covid virus in 2020. Pizza Hut opted to try to pair unprofitable pizza with higher margin chicken wings. This stategery did not work, and Papa Johns and Dominos have gained market share. Yum brands announced it was selling the fading Pizza Hut brand to vulture capitalists last month.

Mod Pizza suffers from expanding too quickly and leasing retail space in questionable areas. They've flirted with bankruptcy twice and have been sold to a hedge fund specializing in plucking dying carcasses (a pity, because I personally like their Jasper pizzas).

To blame the demise of the three chains above on rising labor costs is disingenuous.

 

[MajorRewrite]

One Year Later: The Results of Gavin Newsom’s Fast Food Minimum Wage Hike Are In​

2 Comments / By Kyle Stevenson / January 1, 2026


Reason Magazine reporter Bess Byers outlined the economic consequences of California’s fast food minimum wage law while highlighting comments from Gov. Gavin Newsom defending exemptions built into the legislation.
The law, known as AB 1228, raised wages for fast food workers and created a new regulatory structure, but Byers said the results have included job losses, restaurant closures, and higher prices.

“One year after implementing the so called FAST Act, we are finally seeing its effects, and they are exactly what you would expect,” Byers said. “Rubio’s coastal grill closed 48 locations across the state. MOD Pizza closed five and Pizza Hut laid off all 1200 delivery drivers,” she said.

Byers said the employment data showed significant losses. “In total, fast food employment decreased by 2.7% which cost California 18,000 jobs,” she said. She added that remaining workers also felt the impact.

“Restaurants replaced employees with digital kiosks, and those who did keep their jobs saw their hours decrease by almost two months per year,” she said.

https://wokespy.com/one-year-later-the-results-of-gavin-newsoms-fast-food-minimum-wage-hike-are-in/

This is the third time you’ve tried to pretend the fast food industry in California was destroyed by a minimum wage increase. We’ve debunked it.

Where is Bess Byers getting her numbers? The Bureau of Labor Statistics only has fast food employment in California through the end of 2024.

Anyway, at the end of 2024 (the most up to date data) there were 34,299 fast food establishments in California. If they lost 18,000 jobs as Bess Beyers claims, that means each restaurant lost 0.52 job on average.

How agitated are you about losing one-half of a job?

 

[MajorRewrite]

I found the article in Reason that RightGuide’s article refers to. As I suspected the data analysis is bogus.

The authors initially calculate that "employment in California's fast-food sector declined by 2.7 percent between September 2023 and September 2024 relative to fast-food employment elsewhere in the United States." But they make the point that, prior to the passage of A.B. 1228, the bill hiking the minimum wage, fast-food employment was rising faster in the state than elsewhere in the country. Allowing for that, and for changes in the overall labor market, they estimated the real decline in California's fast-food employment at 3.6 percent to arrive at 18,000 lost jobs.

1. The new minimum wage went into effect April 1, 2024 not September 2023.
2. They have no data from 2025 but are making claims about “one year later”.
3. As I pointed out above, the job losses amount to one-half of a job per fast food restaurant.

Reason magazine needs to get better writers and stop making bogus claims.

 

[heathrowinneo]

^^^All this is further indication that the U.S. economy will crash under the Pig administration, and yet, the MAGAts will blame it on Democrats.

I think this administration will help drive the crash through the increasing level of debt. Trump and company are not making us great or taking us to the gilded age. Just the opposite.

 

[briancamdudetenger2018]

what a crazy 2025 it has been for the economy

 

[Buffalogurl]

^^^All this is further indication that the U.S. economy will crash under the Pig administration, and yet, the MAGAts will blame it on

Most likely you will be living in an abandoned van down by the river begging for your next meal, when all is said and done....yes this is happening on the Don's watch...
You will live out your miserable life with the Don living rent free in your head, all the while the Don will live out his days in luxury...

 

[LLCox]

During the new year holiday.... the Chinese ban on silver export went into effect 4 hours before the official deadline...stopping a 41 ton shipment of physical silver from delivery to the cme....
(cause and effect)..... when the special delegation arrived from the U.S. to beg for mercy, the Chinese flat stated...piss off...
Within minutes a phone call to the federal reserve out of Chicongo authorized a (now read this carefully) 106 Billion dollar loans from the federal reserve repo market to shore up insolvent banks trapped in the silver short..... keep in mind this account is the lender of last resort...
at present the cme valt is 42 million ounces short of physical delivery .....
Keep in mind if these banks fail so does the derivatives the banks hold causing a cascading disaster of a biblical proportion .......... this reportedly will make lemem brothers, bear sterns and AGI collapse seem like, a error in a personal checking account..... anyway happy new year

It's a wonderful day when you are holding 500 .OZ of silver. Grey Poupon anyone.

 

[coati]

Most likely you will be living in an abandoned van down by the river begging for your next meal, when all is said and done....yes this is happening on the Don's watch...
You will live out your miserable life with the Don living rent free in your head, all the while the Don will live out his days in luxury...

You have no clue about my living situation.

And unlike you, I've known about the Pig's mental illness for a long time. I sleep well at night knowing I did everything possible to oppose his rise to power.

 

[briancamdudetenger2018]

i wonder what the economy is gonna be like now since usa attacked venezuela

 

[Wilson23]

i wonder what the economy is gonna be like now since usa attacked venezuela

Don't invest in the petroleum industry.