The awful state of our economy

[Caribbean Cool]

Minimum wage has lost 40% of its purchasing power under Milei

Basic income for registered workers has plunged against November 2023 to levels even inferior to the 2001 crisis, according to a report by UBA Buenos Aires University’s Economics Faculty. Economic growth produces winners but they are not a majority.

www.batimes.com.ar

 

[mageesa]

"This job destruction is due to a shrinking economy. The latest figure from Fundar think tank warns that 26,448 companies have closed down between March, 2023 and the same month this year when 2,011 enterprises were shuttered.
“That figure contrasts with the fall of 257 firms registered in the previous month and marks a new acceleration in the deterioration of the productive fabric,” explained Fundar.

"Their data analysis has shown that capital-intensive sectors grew more, as well as those dealing in natural resources, dollars, finances, major investments and exports: energy, mining, farming, banks, professional services and real estate. "

So bad for small businesses and manufacturing, good for the money guys.

Perhaps with Alan Greenspan's death a few days ago, the hypnotic spell of 'Trickle Down' will be broken?

 

[LuckyLuke]

Perhaps with Alan Greenspan's death a few days ago, the hypnotic spell of 'Trickle Down' will be broken?

I wouldn't count on it. "Trickle down" is alive and well...

 

[Rich One]

Another major loss Lodenhaus the fancy Austrian overcoat store is closing shop end July. Big fire sale now? Some will never notice.

Lodenhaus, la emblemática tienda de abrigos en Recoleta, anunció que cierra sus puertas

Ubicada sobre la calle Libertad, funcionará hasta finales de julio; los motivos no son únicamente económicos, sino que están relacionados al cambio de consumo

www.lanacion.com.ar

 

[FrankPintor]

Another major loss Lodenhaus the fancy Austrian overcoat store is closing shop end July. Big fire sale now? Some will never notice.

Lodenhaus, la emblemática tienda de abrigos en Recoleta, anunció que cierra sus puertas

Ubicada sobre la calle Libertad, funcionará hasta finales de julio; los motivos no son únicamente económicos, sino que están relacionados al cambio de consumo

www.lanacion.com.ar

Must be a different Loden brand to the one I remember, with their advert "Loden-Frey fur die Hoden-frei", or slightly more respectably, "Selbst der Eunuch, der Hodenlose, trägt von Frey die Lodenhose!"

 

[LuckyLuke]

Another major loss Lodenhaus the fancy Austrian overcoat store is closing shop end July. Big fire sale now? Some will never notice.

Lodenhaus, la emblemática tienda de abrigos en Recoleta, anunció que cierra sus puertas

Ubicada sobre la calle Libertad, funcionará hasta finales de julio; los motivos no son únicamente económicos, sino que están relacionados al cambio de consumo

www.lanacion.com.ar

Fast fashion changed the landscape. Times are accelerating in just about every medium measurable, climate included. It's no surprise that quality has gone out the window for the cheap thrill of the latest trend.

 

[Caribbean Cool]

Fast fashion changed the landscape. Times are accelerating in just about every medium measurable, climate included. It's no surprise that quality has gone out the window for the cheap thrill of the latest trend.

I for one like a cheap thrill now and then

 

[LuckyLuke]

I for one like a cheap thrill now and then

Fast fashion has gotten so bad that online shopping addicts now have fake apps where you can simulate buying the clothes except no actual clothes are being purchased. This apparently tricks the brain into releasing the dopamine associated with impulsive purchases while allowing addicts to recover financially. It's pretty bad out there folks...