Evergrande Update, Inflation Scare | EntrepreNEWS 11/11/21
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Business Strategist, Super Joe Pardo reacts to the news
Check out:
Evergrande Dodges Bullet Again
https://finance.yahoo.com/m/87a58a03-dc9a-3359-aea2-4558a2a5b252/evergrande-dodges-default%2C.html?.tsrc=fin-srch
Inflation is here to stay?
https://www.foxbusiness.com/media/kudlow-stop-spending-stop-money-printing-presses
https://www.nbcnews.com/business/consumer/inflation-hits-62-percent-30-year-record-rcna5040
Rapid Fire
Zillow Finds a Buyer
https://www.foxbusiness.com/real-estate/zillow-sells-homes-shutting-down-house-flipping-business
Former Starbucks CEO Uses Holocaust Analogy
https://www.nbcnews.com/business/business-news/former-starbucks-ceo-uses-holocaust-analogy-describe-coffee-companys-m-rcna5170
Elon Musk sells Telsa Stock
https://www.nbcnews.com/business/corporations/elon-musk-sells-11-billion-tesla-stock-rcna5197
2 Comments
The thing I don’t understand tho is that they know inflation is on a rise but they want to keep passing the trillion dollar to multi trillion dollars bills like we they are trying to pass to much money peopel act like we don’t have to pay intrest on that debt we are already 28.5 trillion in debt 300 billion just in intrest payments to that debt no they want to pass infrastructure and the social bill that add up to like 4.5 trillion to much that like a 15% of are debt rising I don’t understand money just don’t come from nowhere people got to understand that. To me they should wait 2 years we just came off the pandemic they need to cool on the spending
The thing about the infrastructure bill is it is the amount of money that will be spent over 10 years, not all at once. And when you compare it to the amount of money being spent on NY/NYC alone (https://www.budget.ny.gov/pubs/archive/fy22/ex/book/infrastructure.pdf) at $300 Billion (it says it is part of a 5 year plan, not clear if they are spending 300 over 5 or just 300 right now in addition to the next 5 years. I tend to think it is $300B today and more to come over the next 5 years). So right there is is a quarter of the $1.2 trillion (over 10 years). Everything is relative, and spending in the government is not the same as spending as a person or business: https://www.youtube.com/watch?v=yq_E3HquRJY (John Oliver talking about National Debt)
Investing in infrastructure is something that is sorely needed in our country and does help spur jobs which in turns helps the economy and our safety as bridges, power grid and other things are badly needing repair: https://www.youtube.com/watch?v=Wpzvaqypav8 (John Oliver from 2015 talking about this… I know I referenced him twice in one post, not intentional lol)
In a time where the biggest companies are enjoying record profits, they are not incentivized to increase productivity and bring prices back down. With that said, there is real shortages and port issues and trucking issues and more at play. I’m very hopeful that by the end of next year that this will in the past… Assuming that Evergrande or someone else doesn’t belly up that sends shockwaves through the economy. (Including another more potent variant.)
I’d love to hear what you think Jmoney and I appreciate you watching and commenting. Good to see you in the comments again!