1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

Capitalism: Why we can't have nice things

Discussion in 'BBS Hangout: Debate & Discussion' started by glynch, Sep 25, 2020.

  1. glynch

    glynch Member

    Joined:
    Dec 1, 2000
    Messages:
    18,099
    Likes Received:
    3,609
    Interesting article of how Costco stock is hammered by Wall Street because it paid its workers an extra $2/hr during Covid. Similar things happen when a company gets out of line and fails to pollute enough or an insurance company or hospital chain fails to deny enough treatment. Lawsuits? lol conservtives and "libertarians" have seen to making law suits mainly a remedy in name only..
    https://finance.yahoo.com/news/wall...2-more-an-hour-during-covid-19-172507787.html

    Costco (COST) shares were drilled to the tune of 3% on Friday after delivering what looked to be an impressive fiscal fourth quarter. The company posted quarterly earnings some 33 cents ahead of analyst estimates, powered by an unworldly 11.4% same-store sales gain.

    Then why the selloff in Costco’s stock? Simply put, analysts appear not too pleased Costco continues to pay its workers what has become known in retail as pandemic pay. Costco began paying its workers an extra $2 an hour back in March at the height of the pandemic. While other retailers such as Kroger and Target have stopped pandemic pay, the notoriously pro worker Costco has kept its practice intact.
     
  2. Astrodome

    Astrodome Member

    Joined:
    Apr 23, 2015
    Messages:
    13,054
    Likes Received:
    15,041
    I love costco.
     
    FranchiseBlade, adoo and ThatBoyNick like this.
  3. RayRay10

    RayRay10 Houstonian

    Joined:
    Apr 14, 2015
    Messages:
    4,629
    Likes Received:
    11,032
    Perfect example of why basing the economy on the stock market is a supremely bad idea.
     
  4. fchowd0311

    fchowd0311 Member

    Joined:
    Apr 27, 2010
    Messages:
    55,682
    Likes Received:
    43,473
    Or GDP growth or even unemployment numbers. Sure those data points can provide SOME indication but they don't paint anywhere near a complete picture.

    I mean what was the GDP growth rate and unemployment numbers 1.5 years before the subprime mortgage crash?
     
    FranchiseBlade likes this.
  5. ThatBoyNick

    ThatBoyNick Member

    Joined:
    Dec 8, 2011
    Messages:
    31,438
    Likes Received:
    49,315
    I used to, but ever since they started paying their employees $2 more the quality of the products has gone WAY down, and my grocery bills have skyrocketed !

    END this madness Costco!
     
  6. glynch

    glynch Member

    Joined:
    Dec 1, 2000
    Messages:
    18,099
    Likes Received:
    3,609
    The real problem is that we will all die in a climate change disaster when the overriding motivation in the world is that each major polluting industry is motivated by the requirement to maximize its profits each quarter.

    Combine this with the ignorant idea that our S. Ct created concept i.e that the rich and corporations have the free speech right to unlimitedly give to politicians (i.e bribery) and we are in a terrible fix. See the Kochs spending billions on politicians as well as propaganda to pretend climate change is a myth to enhance their quarterly returns.
     
  7. generalthade_03

    Joined:
    Feb 1, 2003
    Messages:
    3,662
    Likes Received:
    707
    OP is still dreaming about a Venezuelan paradise for America. If you say the word, I can get you to Caracas ASAP so you can see paradise for yourself.
     
  8. DonnyMost

    DonnyMost Member

    Joined:
    May 18, 2003
    Messages:
    49,006
    Likes Received:
    19,957
    Terribad thread title aside, outcomes are all about incentives.
     
  9. glynch

    glynch Member

    Joined:
    Dec 1, 2000
    Messages:
    18,099
    Likes Received:
    3,609
    Yep, exactly and under capitalism the incentive that overrides everything is to maximize profits (and in the age of financial capitalism -- each quarter)so f the environment, most people's wages, healthcare etc.
     
  10. Deckard

    Deckard Blade Runner
    Supporting Member

    Joined:
    Mar 28, 2002
    Messages:
    57,800
    Likes Received:
    41,241
  11. ROXRAN

    ROXRAN Member

    Joined:
    Oct 12, 2000
    Messages:
    18,835
    Likes Received:
    5,244
    Be nice to have the best of both worlds
     
    ThatBoyNick likes this.
  12. Andre0087

    Andre0087 Member

    Joined:
    Jan 16, 2012
    Messages:
    10,078
    Likes Received:
    13,774
    Capitalism isn't that bad if you quit bailing out banks, farms, and other businesses by allowing them to fail while the average Joe still has to pull himself up by his bootstraps.
     
    RayRay10 and ROXRAN like this.
  13. ThatBoyNick

    ThatBoyNick Member

    Joined:
    Dec 8, 2011
    Messages:
    31,438
    Likes Received:
    49,315
    That's called mixed economy social democracy baby. Until I see something better, the nordic model is where it's at.
     
    ROXRAN, RayRay10 and JayGoogle like this.
  14. Space Ghost

    Space Ghost Member

    Joined:
    Feb 14, 1999
    Messages:
    18,270
    Likes Received:
    8,636
    I didnt realize you subscribed to Austrian economics.

    But I agree. GM and Chrysler should have died. Hopefully Tesla and Rivian kill them off once and for all.

    Im not advocating propping up farms, but it is important we have the capability to produce food, even if it is subsidized. Again, im not necessarily referring to the past and present situations, but that we should be wary of its livelihood.

    Regarding bankers, some of those guys should have gone to jail and their wealth stripped from them.
     
    fchowd0311 and Andre0087 like this.
  15. Invisible Fan

    Invisible Fan Member

    Joined:
    Dec 5, 2001
    Messages:
    45,954
    Likes Received:
    28,051
    It's easier to pay lip service to Essential Workers than to outright pay them.

    I already said THANK YOU, so **** OFF!
     
    RayRay10 likes this.
  16. Invisible Fan

    Invisible Fan Member

    Joined:
    Dec 5, 2001
    Messages:
    45,954
    Likes Received:
    28,051
    Capitalism will only step in when the external costs from it are realized.

    That means people will continue to eat **** until they'll pay a certain price not to eat ****.

    Different than politics where people vote on the promise of not eating **** or less of it... Then vote the same next time despite nothing changing
     
    RayRay10 likes this.
  17. Andre0087

    Andre0087 Member

    Joined:
    Jan 16, 2012
    Messages:
    10,078
    Likes Received:
    13,774
    I'm not and am unfamiliar with their economics, it's just common sense. But what's good for the goose is good for the gander...
     
    RayRay10 and FranchiseBlade like this.

Share This Page