I kinda foresee this to get worse in the future due to AI layoffs...Many jobs will be lost due to AI IMO, but this is a whole different debate.
Money & Economics
- Thread starter bigredfish
- Start date
Not just AI layoffs, anyone who follows macro economics will tell you we're living on borrowed time.
Debt interest passed Defense spending last month, inflation is running at 4+% not 2 as you're told. And the big one, the dollar and our Treasuries are being sold off around the world as we create new enemies almost daily.
The crash will be epic
Grim news from the US as both JetBlue And Frontier are said to be close to following Spirit Airlines into fuel cost induced bankruptcy.
Drastic action needed from the Trump administration to prevent chaos in US Domestic and International aviation.
Drastic action needed from the Trump administration to prevent chaos in US Domestic and International aviation.
The wife was in the airline industry for almost 30 years, Spirit has always had problems, like with most other small airlines. They have alot smaller profit margins then the big airlines, well they actually are close to the same but the big airlines can survive better with more flights, dropping or reducing flights is easier for them. This is not the first, or last time fuel cost rises. Just a few months ago fuel was low.
The wife is still in touch with a fairly large group that she worked with, business as usual, talk of dropping flights is normal in the industry, they always come back with more. Price increases in the industry is like the stock market, up and down.
If a couple of months of fuel prices increases break an airline, there is something more major going on there. For Spirit, this was there way out, they declined a bailout, but for good reason. The JetBlue merger was about getting their planes, same thing happened with the Continental merger, United just devoured their fleet and their Southern business. The wife loved working for Continental, United sucked. The Continental employees wore wrist bands that said "Ex-Con" in protest.
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And it’s ok I’m paying $4.50 for gas instead of the promised $2.00 because Trump told me so.
Yes Spirit was in trouble before, so were a hundred thousand farmers.
Yes Spirit was in trouble before, so were a hundred thousand farmers.
You gotta stop listening to Trump, haha...
The airline industry is a weird one. managed more by passion than good business sense. Whenever there are enough unserved markets, a new startup airline will appear even if it doesn't make business sense. I wonder how many airlines have disappeared? Eastern, Pan Am, Braniff, TWA, Ozark, Reno Air, Continental, North Central, Mohawk, PSA, Air Illinois, Southern, just off the top of my head. Probably less than a 20% list. Add to that all of the European national carriers. Every country used to have its own flag airline. Not ao any more.
The Spirit CEO said live on video today that Trump’s clusterfuck oil grab and Israeli expansion war, and associated fuel crisis was the direct reason they called it quits.
Other airlines are already saying the same. JetBlue and Frontier today.
This is a direct Trump related fuckup
Other airlines are already saying the same. JetBlue and Frontier today.
This is a direct Trump related fuckup
When the United merger happened there was talk of keeping the Continental name but since Continental tires are a big name, especially in Europe they kept United's name, they were told but they took Continental's Tail Logo. The guy doing the merger did some good, he fought to keep Continental's Pension program which my wife retired with that and a 401k
Guess he is shooting down more than just Iranian planes
We have a year’s worth of economic data since Liberation Day, when President Trump announced much higher tariffs on most imported goods and countries, and the data are definitive; the tariffs have done significant damage to the economy.
Since that day, job growth has come to a standstill, with only the non-traded healthcare industry adding meaningfully to payrolls.
Also, since that day, inflation has accelerated, with the consumer expenditure deflator increasing at a 3% year-over-year pace, up from 2.5% before the tariffs and well above the Federal Reserve’s target of 2%.
And the trend lines don’t look good, especially as the economic fallout from the Iran War hits with full force. The higher energy and other commodity prices caused by the war threaten to do even more economic damage than the tariffs, further undermining growth and pushing inflation higher.
The U.S. economy is resilient, but just how resilient is set to be tested.
Since that day, job growth has come to a standstill, with only the non-traded healthcare industry adding meaningfully to payrolls.
Also, since that day, inflation has accelerated, with the consumer expenditure deflator increasing at a 3% year-over-year pace, up from 2.5% before the tariffs and well above the Federal Reserve’s target of 2%.
And the trend lines don’t look good, especially as the economic fallout from the Iran War hits with full force. The higher energy and other commodity prices caused by the war threaten to do even more economic damage than the tariffs, further undermining growth and pushing inflation higher.
The U.S. economy is resilient, but just how resilient is set to be tested.
Not trying to discredit this but what aluminum? Wheels? Most cars are thin metal and plastic.
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JetBlue is now formally warning us of a potential bankruptcy as fuel costs continue to skyrocket due to the Trump war.
One analysis put their odds of filing for bankruptcy at 75%.
Frontier is also on Bankruptcy watch with the same analysis giving them a 59% chance of filing.
One analysis put their odds of filing for bankruptcy at 75%.
Frontier is also on Bankruptcy watch with the same analysis giving them a 59% chance of filing.
Educate yourself, stay off Fox News
From 2015 to 2025, the aluminum content in North American vehicles will grow at a clip of 12 pounds per year – to 520 pounds of aluminum per vehicle, according to a Ducker Worldwide survey of the automakers. By 2028, that number is expected to jump to 565 pounds of aluminum per vehicle.
For some reason, I thought so too... googled it, turns out there's lot's of aluminum...
Unfortunately, I truly believe we’re on the precipice ….
In 2011, I wrote a best-selling documentary called The End of America. It was viewed, online, by over 40 million people. As a book it sold millions of copies.
I warned every American:
Without a reliable currency, there is no way for human beings to cooperate at scale.
Cooperation runs on trust.
Trust, across a complex economy, requires a unit of exchange that's reliable. Corrupt the unit of exchange and you break cooperation. And once you break cooperation, the entire architecture of a free society — the voluntary exchanges, the long-term commitments, the marriages and mortgages and business partnerships — starts to come apart.
That's happening now in America:
In 2011, I warned that all of these things would happen:
1. That the dollar’s run as the world’s reserve currency was ending;
2. That the American middle class was being quietly strip-mined by a monetary system rigged in favor of Washington and Wall Street;
3. That the country’s social fabric was coming apart in ways the political class could not see and refused to measure; and
4. That our society was heading for a crisis unlike anything America had faced since the 1930s.
In 2011, I wrote a best-selling documentary called The End of America. It was viewed, online, by over 40 million people. As a book it sold millions of copies.
I warned every American:
Without a reliable currency, there is no way for human beings to cooperate at scale.
Cooperation runs on trust.
Trust, across a complex economy, requires a unit of exchange that's reliable. Corrupt the unit of exchange and you break cooperation. And once you break cooperation, the entire architecture of a free society — the voluntary exchanges, the long-term commitments, the marriages and mortgages and business partnerships — starts to come apart.
That's happening now in America:
In 2011, I warned that all of these things would happen:
1. That the dollar’s run as the world’s reserve currency was ending;
2. That the American middle class was being quietly strip-mined by a monetary system rigged in favor of Washington and Wall Street;
3. That the country’s social fabric was coming apart in ways the political class could not see and refused to measure; and
4. That our society was heading for a crisis unlike anything America had faced since the 1930s.
I read today that interest rates are going to come down.
A few minutes later I read that interest rates are going to go up.
So add a #5 to that list that interest rates will go up, or they will go down.