7 ms·

The article states a huge spike in imports are causing a traffic jam worse than when the port of LA workers went on strike a few years ago. I went searching for

The article states a huge spike in imports are causing a traffic jam worse than when the port of LA workers went on strike a few years ago. I went searching for the "why" behind imports spiking and came across this: >U.S. consumers dramatically increase spending on goods as their ability to spend on services was constrained [by COVID] and that their lost income from unemployment would be counterbalanced by stimulus. https://www.freightwaves.com/news/data-reveals-unprecedented-nature-of-us-import-surge https://www.freightwaves.com/news/data-reveals-unprecedented...

oceanplexian 6y ago
I wonder how many Americans will be spending their stimulus on a new television or a new phone, and how many will be using it for housing and food. Seems like the former, which is great news for the Chinese economy.
- lambda_obrien 6y ago
  For most people, the stimulus is just a bonus. Even if 30 percent of people lost jobs, they're the minority. I think the money would have been better used as a weekly stipend for those on unemployment, or those who lost income at least. I certainly don't need the 1800 bucks I got for my family of 3 on new year's, for me it's just money in the bank. I wish it could have gone to someone more needing, so maybe I'll donate it, but it shouldn't have even gone to me, is what I'm saying.
  - CaliforniaKarl 6y ago
    > maybe I'll donate it Did you end up doing so?
  - ahepp 6y ago
    Since repayment will be a burden borne by the fortunate through taxation and inflation, isn't "checks for everyone" in a sense equivalent to "checks for the needy"? Except we all save the trouble of means testing, or the sting of missing out on a windfall.
  - conro1108 6y ago
    If you wish it had gone to someone more needing, why maybe donate it? Just give it to someone more needing
- deleted 6y ago
  [deleted]
- cstejerean 6y ago
  China’s economy is definitely doing well, about the only major economy that actually grew in 2020 while everyone else shrank. So economically they definitely came out on top from this pandemic. China is now forecasted to outpace US economy by 2028, 5 years earlier than previous forecasts, due to changes this past year. https://www.bbc.com/news/world-asia-china-55454146 https://www.bbc.com/news/world-asia-china-55454146
  - underseacables 6y ago
    As far as you know. News about China and it’s economy must be taken with a grain of salt because it comes from the government which is notoriously unreliable.
    - snoshy 6y ago
      No, as far as the CEBR knows. It's not a Chinese forecast, it's a UK forecast.
    - xbmcuser 6y ago
      China in the last 20-30 years has taken 700+ million people out of poverty so they must have done something right. As someone that is not Chinese nor from a western country apart from filtering news from Chinese media I also filter stuff from the western media as it is not any better. Chinese media is censored and manipulated by threats western media is censored and manipulated by money and self interest.
      - ketzo 6y ago
        To place Chinese state media on the same level of censorship as independent western media seems... disingenuous at best.
        xbmcuser 6y ago
        Western media being independent is a myth has been for the last 20-30 years specially when it comes to foreign relations. Most of the independent western media is sidelined which results in little or no spread of real news most of it is just propaganda of different political and financial interests. Go thorough this website is shows how much misinfo is spread by corporate media and different countries. But no main stream media picks up the stories or talk about it. https://www.disinfo.eu/ https://www.disinfo.eu/
- zz865 6y ago
  The other stimulus check destination is Tesla stock and BTC.
- CharlesW 6y ago
  > Seems like the former… I'm sure some people financially unaffected by the pandemic are using their stimulus for gadgets, but most recipients are using stimulus money for bills, savings and essentials.[1][2][3] As perspective, only 39% of Americans could pay for an unexpected $1,000 expense. [1] https://www.nber.org/system/files/working_papers/w27693/w27693.pdf https://www.nber.org/system/files/working_papers/w27693/w276... [2] https://www.forbes.com/advisor/personal-finance/survey-one-third-of-americans-plan-to-use-stimulus-checks-to-pay-bills/ https://www.forbes.com/advisor/personal-finance/survey-one-t... [3] https://www.forbes.com/advisor/personal-finance/heres-how-americans-are-using-their-stimulus-checks/ https://www.forbes.com/advisor/personal-finance/heres-how-am...
- CaliforniaKarl 6y ago
  Here are the experiences of three people I know, with pronouns changed to "they" so as to not reveal their preference. Person #1 is an adjunct instructor in the midwest, and is struggling with the low # of courses and the # high of students in each course, in addition to the additional workload that comes from doing everything online. Their income level is not as high in 2020 as before. They are an artist, and so try to take time (and buy materials) for their art, as they need some form of release. Person #2 lives on the west coast (not a good part of the west coast), works in retail, doesn't have a car (in an area that requires one), and isn't in the best living situation. They have a full-time job they're doing well in, but it's not a high wage (it's below $15/hour, though more when they gets bonuses), so it's difficult to save up. They're smart, but it's difficult to maintain 150% motivation every. single. minute. of. the. day. Person #3 lives in the midwest and is unemployed. After being furloughed, they left the food service job they were in: they were transferred to a remote location, likely because they were asking about why health insurance hadn't been resumed. The next job they found was a job selling insurance to businesses, a job that only pays when you make a "sale". Until then, your wages are zero. And it's a workplace that doesn't wear masks. A license to sell insurance is required, but the workplace (who is supposed to facilitate that) didn't lead them through the correct paperwork, so their ability to lean (and to sell) is limited. They are actively looking for a new job, ideally something that matches their degree. There are three examples of the latter, just from me.
- ahepp 6y ago
  Buying a TV manufactured in China still stimulates the US economy, doesn't it? It's 2021, supply chains are global for a lot of products. You could just as easily disparage paying rent by saying "it's great news for my landlord". Personally, I think Chinese industrialists and workers do more to earn the money. The stimulating effect comes from spending it, no? I'm not worried about what my neighbors are spending the money on. We citizens and dollar-savers pay the bill through taxation/inflation, in a progressive manner. I don't see a moral hazard.
  - azurezyq 6y ago
    For TV, I think there's really not much manufactured in US. Maybe Android TV / roku TV subscriptions? https://www.politifact.com/factchecks/2016/mar/14/donald-trump/donald-trump-says-us-doesnt-make-tvs-anymore/ https://www.politifact.com/factchecks/2016/mar/14/donald-tru... If you look at it closely, display panels are mostly manufactured in Asia. And a Chinese company (BOE) is the leader in the market: https://www.statista.com/statistics/1124858/global-display-panel-vendor-monitor/#:~:text=Monitor%20display%20panel%20market%20share%20worldwide%202019%2C%20by%20manufacturer&text=BOE%20Technology%2C%20the%20Chinese%20electronic,and%20Taiwanese%20firm%20AU%20Optronics https://www.statista.com/statistics/1124858/global-display-p....
    - ahepp 6y ago
      I would be shocked if any component of consumer TVs was manufactured or assembled in the US. But if it was sold in a US store, from a US wholesaler, transported across the US, designed by US engineers, etc, it still seems like it would stimulate the economy. I was under the impression not much is truly manufactured here in the US any more. What are you going to buy, thousands of dollars worth of My Pillows? I'm no economist, but my understanding is that paying down debt (universally considered a responsible use of money, as opposed to TV purchasing) is actually one of the least stimulating ways to spend money. You're effectively just hoping that the lender is going to spend the money on something stimulating instead of yourself.
      - benjohnson 6y ago
- lostlogin 6y ago
  Spending money on a phone or tv helps keep people employed in the US too - unless of course consumer spending bypasses brick and mortar and goes AliExpress et al.
- op00to 6y ago
  on what information do you base this on?

oceanplexian 6y ago

I wonder how many Americans will be spending their stimulus on a new television or a new phone, and how many will be using it for housing and food. Seems like the former, which is great news for the Chinese economy.

lambda_obrien 6y ago
For most people, the stimulus is just a bonus. Even if 30 percent of people lost jobs, they're the minority. I think the money would have been better used as a weekly stipend for those on unemployment, or those who lost income at least. I certainly don't need the 1800 bucks I got for my family of 3 on new year's, for me it's just money in the bank. I wish it could have gone to someone more needing, so maybe I'll donate it, but it shouldn't have even gone to me, is what I'm saying.
- CaliforniaKarl 6y ago
  > maybe I'll donate it Did you end up doing so?
- ahepp 6y ago
  Since repayment will be a burden borne by the fortunate through taxation and inflation, isn't "checks for everyone" in a sense equivalent to "checks for the needy"? Except we all save the trouble of means testing, or the sting of missing out on a windfall.
- conro1108 6y ago
  If you wish it had gone to someone more needing, why maybe donate it? Just give it to someone more needing
deleted 6y ago
[deleted]
cstejerean 6y ago
China’s economy is definitely doing well, about the only major economy that actually grew in 2020 while everyone else shrank. So economically they definitely came out on top from this pandemic. China is now forecasted to outpace US economy by 2028, 5 years earlier than previous forecasts, due to changes this past year. https://www.bbc.com/news/world-asia-china-55454146 https://www.bbc.com/news/world-asia-china-55454146
- underseacables 6y ago
  As far as you know. News about China and it’s economy must be taken with a grain of salt because it comes from the government which is notoriously unreliable.
  - snoshy 6y ago
    No, as far as the CEBR knows. It's not a Chinese forecast, it's a UK forecast.
  - xbmcuser 6y ago
    China in the last 20-30 years has taken 700+ million people out of poverty so they must have done something right. As someone that is not Chinese nor from a western country apart from filtering news from Chinese media I also filter stuff from the western media as it is not any better. Chinese media is censored and manipulated by threats western media is censored and manipulated by money and self interest.
    - ketzo 6y ago
      To place Chinese state media on the same level of censorship as independent western media seems... disingenuous at best.
      - xbmcuser 6y ago
        Western media being independent is a myth has been for the last 20-30 years specially when it comes to foreign relations. Most of the independent western media is sidelined which results in little or no spread of real news most of it is just propaganda of different political and financial interests. Go thorough this website is shows how much misinfo is spread by corporate media and different countries. But no main stream media picks up the stories or talk about it. https://www.disinfo.eu/ https://www.disinfo.eu/
zz865 6y ago
The other stimulus check destination is Tesla stock and BTC.
CharlesW 6y ago
> Seems like the former… I'm sure some people financially unaffected by the pandemic are using their stimulus for gadgets, but most recipients are using stimulus money for bills, savings and essentials.[1][2][3] As perspective, only 39% of Americans could pay for an unexpected $1,000 expense. [1] https://www.nber.org/system/files/working_papers/w27693/w27693.pdf https://www.nber.org/system/files/working_papers/w27693/w276... [2] https://www.forbes.com/advisor/personal-finance/survey-one-third-of-americans-plan-to-use-stimulus-checks-to-pay-bills/ https://www.forbes.com/advisor/personal-finance/survey-one-t... [3] https://www.forbes.com/advisor/personal-finance/heres-how-americans-are-using-their-stimulus-checks/ https://www.forbes.com/advisor/personal-finance/heres-how-am...
CaliforniaKarl 6y ago
Here are the experiences of three people I know, with pronouns changed to "they" so as to not reveal their preference. Person #1 is an adjunct instructor in the midwest, and is struggling with the low # of courses and the # high of students in each course, in addition to the additional workload that comes from doing everything online. Their income level is not as high in 2020 as before. They are an artist, and so try to take time (and buy materials) for their art, as they need some form of release. Person #2 lives on the west coast (not a good part of the west coast), works in retail, doesn't have a car (in an area that requires one), and isn't in the best living situation. They have a full-time job they're doing well in, but it's not a high wage (it's below $15/hour, though more when they gets bonuses), so it's difficult to save up. They're smart, but it's difficult to maintain 150% motivation every. single. minute. of. the. day. Person #3 lives in the midwest and is unemployed. After being furloughed, they left the food service job they were in: they were transferred to a remote location, likely because they were asking about why health insurance hadn't been resumed. The next job they found was a job selling insurance to businesses, a job that only pays when you make a "sale". Until then, your wages are zero. And it's a workplace that doesn't wear masks. A license to sell insurance is required, but the workplace (who is supposed to facilitate that) didn't lead them through the correct paperwork, so their ability to lean (and to sell) is limited. They are actively looking for a new job, ideally something that matches their degree. There are three examples of the latter, just from me.
ahepp 6y ago
Buying a TV manufactured in China still stimulates the US economy, doesn't it? It's 2021, supply chains are global for a lot of products. You could just as easily disparage paying rent by saying "it's great news for my landlord". Personally, I think Chinese industrialists and workers do more to earn the money. The stimulating effect comes from spending it, no? I'm not worried about what my neighbors are spending the money on. We citizens and dollar-savers pay the bill through taxation/inflation, in a progressive manner. I don't see a moral hazard.
- azurezyq 6y ago
  For TV, I think there's really not much manufactured in US. Maybe Android TV / roku TV subscriptions? https://www.politifact.com/factchecks/2016/mar/14/donald-trump/donald-trump-says-us-doesnt-make-tvs-anymore/ https://www.politifact.com/factchecks/2016/mar/14/donald-tru... If you look at it closely, display panels are mostly manufactured in Asia. And a Chinese company (BOE) is the leader in the market: https://www.statista.com/statistics/1124858/global-display-panel-vendor-monitor/#:~:text=Monitor%20display%20panel%20market%20share%20worldwide%202019%2C%20by%20manufacturer&text=BOE%20Technology%2C%20the%20Chinese%20electronic,and%20Taiwanese%20firm%20AU%20Optronics https://www.statista.com/statistics/1124858/global-display-p....
  - ahepp 6y ago
    I would be shocked if any component of consumer TVs was manufactured or assembled in the US. But if it was sold in a US store, from a US wholesaler, transported across the US, designed by US engineers, etc, it still seems like it would stimulate the economy. I was under the impression not much is truly manufactured here in the US any more. What are you going to buy, thousands of dollars worth of My Pillows? I'm no economist, but my understanding is that paying down debt (universally considered a responsible use of money, as opposed to TV purchasing) is actually one of the least stimulating ways to spend money. You're effectively just hoping that the lender is going to spend the money on something stimulating instead of yourself.
    - benjohnson 6y ago
lostlogin 6y ago
Spending money on a phone or tv helps keep people employed in the US too - unless of course consumer spending bypasses brick and mortar and goes AliExpress et al.
op00to 6y ago
on what information do you base this on?