Friday, December 01, 2017

Signs the economy is bad: December 1, 2017 edition

Welcome to another edition of "Signs the Economy is Bad" here at The Itinerant Librarian. This is the semi-regular (as in when I have time and/or feel like doing it) feature where I scour the Internet in search of the oh so subtle hints that the economy is bad. Sure, pundits may say things are getting better, but what do they know? And to show not all is bad, once in a while we look at how good the uber rich have it.


Welcome to another edition, and today is the first of December. The year is almost done. I wish I could be more optimistic, but as bad as 2017 has been it seems 2018 is going to be worse. So I am trying to just take things a day at time and practice a bit more self-care. Meanwhile, the Bad Economy is still going strong. This week, depending on how you look at things, not all is bad. Anyhow, let's have a look.

U.S. Government and  Party of Stupid stuff. Because in government, someone always knows how to make money if you grease the right palm:
  • The big news recently is the GOP's attempt to give a tax cut to the uber rich at the expense of the rest of us.To justify themselves, Paul Ryan imagines how much better life a certain "Cindy" single mom will have with the tax cut he alleges someone like her would get. Only problem with that is "Cindy" is starving along with  her children, and their plan will just make it worse. But hey, we do need to decrease the surplus population. Story via Boing Boing. If there is a hell, Paul Ryan, his party, and those who keep voting them in should spend it, not in eternal torture, but just in the abject grinding poverty they want to give to the  rest of us. 
  • Many of us find the Pendejo in Chief's constant verbal diarrhea on Twitter to be annoying. However, it turns out that his constant brain farts online are actually profitable. It turns that political fundraisers of his base love them and  can use them to get more money from the rubes. Story via Lexington Herald-Leader
  • The Department of Homeland Security is looking to implement facial recognition technology at border entrances. Naturally, a good number of private companies are stepping up to suckle the government teat and hoping to get a contract to make money on  that. Story  via The Intercept
  • Does anyone know what exactly Omarosa Manigult, the former The Apprentice contestant the Pendejo in Chief fancies, does exactly at the White House? Whatever the hell it is, she is paid about $179K for it. The White House claims she is an “assistant to the president and director of communications for the office of public liaison.” Sounds like fancy name for a sinecure. Must be nice. Story via Reality Blurred



The other big news was of course Black Friday and the start of the holiday shopping season. Well, maybe I should amend that since many retailers have been offering "Black Friday deals" since sometime back in July or so. So let's get the holiday season rolling, have a look at holiday shopping, and see what has been happening:

  • Reuters reported that more shoppers than expected kicked off the holiday season on Black Friday and beyond in the United States. According to the article, "Shoppers on average spent $335.47 over the five-day period, with older millennials spending the most at $419.52 each, according to the NRF survey of 3,242 consumers on Nov. 25-26." So people may be whining that money is tight, but clearly it is not tight enough to keep people from shopping. Then again, let us be honest, who can blame them? With the Hard Times, people need a little diversion, and hey, shopping can provide that.  
  • I had no idea that the period from Thanksgiving Day to Cyber Monday had a name: Cyber Five. This is peak holiday shopping season for US shoppers. Well, it does, and Inc. is reporting some trends and patterns that retailers can learn from it.  For example, who did the most shopping? According to the article, "Shoppers located in California, Texas, Florida, New York and Pennsylvania made the highest volume of purchases for the second year in a row." 
  • Cyber Monday turned out to be the most popular day of the Cyber Five. There are some positive reports on it (I know, that does not sound like Bad Economy, but again, I better not hear people whining later about how tight money is) like USA Today  reporting how it is the biggest online shopping day in the U.S. and  how it is a rumble between Amazon and Walmart. Reuters is reporting that Cyber Monday sales jumped up
  • And what was the must have item for Black Friday? A gun. Both NPR and The Washington Post, among many other news agencies, reported that background checks to get a firearm jumped to record highs. 
  • Black Friday can be an opportunity for entrepreneurs, like this guy. Via Retail Hell Underground.
  • Salon argues that despite all the hoopla about online shopping that in-store shopping still matters. I am sure places like Sears, which are on deathwatch, find that reassuring. Personally, I do a lot of my holiday shopping in person, but there are some things I get online because they are not available locally. Having said that, I am glad I already pretty much got my holiday shopping done. 
  • Now, one of the impressive things about shopping online is how quickly you can get things delivered. Amazon in fact takes pride in this. However, it may  not all be a silver lining as USPS mail carriers report that, if they want to keep Amazon's lucrative delivery contract, they have to, shall we say, "fudge" the delivery numbers a bit? Story via CBS 46. 
  • In other Amazon shenanigans, what else do they do to keep prices low? Well, the latest is recruiting merchants from India. Because Americans may all bitch and moan about how they like to buy "Made in America" and similar bullshit, but they do not like to pay for that. They want their stuff cheap, and Indian merchants are more than ready to sell it to them via Amazon. Story via The New York Times
  • Finally for this shopping segment, do not say I am not helpful. Here are a couple of gift ideas in case you need them: 
    • Did you spend your Thanksgiving dinner with relatives? Did you piss off your drunken Pendejo In Chief worshiping obnoxious uncle with that facts stuff? You feel a need to make peace? Well, get him one of these. Via Dangerous Minds.
    • Do you have someone who is into video games and nostalgia? You can help keep Atari alive and get them a gift by purchasing a retro video game machine for them. Story via The New York Times.
  •  For many, part of holiday shopping is a visit to Santa Claus. Just go to the mall, get in line, sit on the Jolly One's lap, and tell him what you want. Well, not anymore. Santa now requires reservations for a spot in his lap. Story via NPR. 
There are also some higher education news this week in the Bad Economy:

And in other news:

To wrap up, let's have a peek at how the uber rich are doing:




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