WAR - Weekly Activity Report

2024-08-02 · Ho Chanh Nghia

Originally published on LinkedIn: https://www.linkedin.com/pulse/war-weekly-activity-report-khanh-pham-xgplc/

WAR - Weekly Activity Report

Can the US consumer stay strong?

The strength of the US consumer has been one of the hallmarks — and surprises — of this economic cycle. But concerns are rising about the resilience of the US consumer amid high interest rates and lingering inflation, threatening a critical driver of the economic expansion.

David Mericle, Goldman Sachs Research’s chief US economist, says most of those concern are overblown. “Strong real income gains plus a positive wealth effect gave us a robust pace of consumption growth last year, and I think it will this year too — just in moderation, because last year was somewhat exceptional,” Mericle says on Goldman Sachs Exchanges. -

Well… I have been here before. I was late June 2013. We were 4 lone Americans in a remote location in Chiang Mai Thailand. Every week we have to send back a report to HQ in Patrick AFB Florida. Every week, it would say the same thing. Everything is working. Nothing to worry about. Until the guy at HQ starts to get curious why there’s never any details in the report.

Between 2002-2010 I have ate and slept at HQ in Patrick Florida. Every type of games, mindsets, and personalities are well known to me after nearly a decade. I have also served as the guy that pacify the boss during my first years in the United States Air Force. Some were understanding and just let me pretend to pacify him. Once in a while, one would smile and requested to see the details in the pudding. I believe as part of government work, part of the duty is to pretty that you’re stupid and allow people to pull a smog and mirror trick on you so that things can just normal as usual. Asking people to do actual work would cause a riot.

As far as the the US economist project of a rosy future. I think there is ground for that. But it is not really reality of the USA. It is more like the reality that Ayn Rand wrote, Atlas Shrugged. As the world burns it is okay for the elites. As the American dies off, it is okay for the elites. They will be buying up more plantations and the slaves will flock to them for their daily bread. Back to making America Great Again. Just like the colonial phase.

How it actually is, only if those numbers in statistics can talk. I was a typical low wage employee in the United States until 2013. Transitioning out of the military was different than most activities. They offered classes and seminars to help prepare you for landing a job. I created a new email to offer a more professional image. I had many people reviewed my CV. I had paid professional to rewrite my cv. I have been unemployed since 2013. The two years sting at Oracle was not really a good indicator of my successful job hunt, because it was Oracle hunting and one of their employee happens to know me enough to recommend me to Oracle. So what I, this specific statistic, would say is that the US economy is garbage for the past 10 years. From the employee looking for a job.

On the macro front, how could it be so great when half of your customers dumped you. As the 70% of the world population dump the USA hot air backed dollars, how can that be an indicator of a robust growth? Well I can envision one way. As we kill off the other half of the population, the killing machines will be paid a lot of money. New land and resources are acquired as the local hosts are eradicated. It is not a robust growth like 1998 where every person is seeing an increase in wealth. Probably it will be an increase in wealth, at the expense of the many. As they leave this world, all their material belongings will be left behind for us. All their consumptions will be reduced, and more for us. It will be a great year as we reduce the world population by 70%.

Right now, my email has a record covering 11 years of economic success or lack of it. Does Goldman Sach cover that data? Most likely not. As the world dies, Goldman Sachs profits. Thus the strong real income?