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black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: Nov 2, 2022 - 4:07pm

Those who have are spending their cash

Bentley CEO: ‘Never seen spending patterns’ like this before with luxury consumer

Pras Subramanian·Senior ReporterWed, November 2, 2022 at 10:24 AM

For British luxury automaker Bentley (VOW.DE), 2022 may leave a strong 2021 in the dust.

Through the first nine months of 2022, Bentley reported record operating profit of €575 million ($577,129,608), more than double the amount from a year ago. The previous full-year record high for operating profit was €389 million ($383,651,250.00). Revenue through the first nine months came in at €2.490 billion ($2,455,762,500.00), a jump of 28% from a year ago.

For Bentley CEO Adrian Hallmark, the results are astonishing because the automaker only increased sales of cars by 3%, yet profitability soared.

“The exciting part for me is that we've doubled the profit year to date, with only a 3% increase in , and that's all about quality of margin,” Hallmark says to Yahoo Finance. “It's all about these higher price cars with more personalization, order bank driven, not stock build driven; and we've got the right formula, and we're going to be ruthless about maintaining that pool.”

"I've been in this industry and in this sector for nearly 28 years. I've never seen spending patterns like it and not just in Bentley,”


miamizsun

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Location: (3261.3 Miles SE of RP)
Gender: Male


Posted: Nov 2, 2022 - 10:09am

 rexi wrote:

jeez, just saw this



been a subscriber to capitalisn't for a while
because luigi...
rexi

rexi Avatar

Location: Zurich, Switzerland


Posted: Oct 31, 2022 - 6:34am

A different Story of Inflation


R_P

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Posted: Oct 27, 2022 - 4:38pm

Putin Is Onto Us (NYT, Friedman)
haresfur

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Location: The Golden Triangle
Gender: Male


Posted: Oct 26, 2022 - 12:40am

 westslope wrote:

The Russian economy has suffered.  Wealth has suffered.   The Russian economy will likely suffer for years, possibly decades to come.    

As an aside, please do note that not all Russians wanted this war.  Think of the subcultures in the USA and other rich western countries that have opposed war or the nuclear arms race and one finds the same subcultures in Russia.

The important point from the perspective of the welfare of Europeans and North Americans is that Russia can economically last for a very long time.   That has to be part of the strategic calculation on the part of US-lead NATO going forward.     Any illusions of a quick, inexpensive military victory in Ukraine should be dismissed or assigned an extremely low probability of materializing.

This conflict could easily escalate with conventional weapons alone into highly destructive and risky directions.        



Yeah, well Putin seems to long for the days of the cold war. Last one took around 40 years. That's his choice until someone figures out how to get rid of him, provided someone as bad doesn't take his place. Putin could fix this easily but he won't.

Obama ignored Russian aggression in Crimea and that just lead to aggression in the rest of Ukraine. The alternatives appear to be either Russia takes over Ukraine and probably the rest of Eastern Europe or support Ukrainian self-determination, even if it means digging in for the long haul. Yeah, it is dangerous but so are the other options.
westslope

westslope Avatar

Location: BC sage brush steppe


Posted: Oct 25, 2022 - 8:39pm

The Russian economy has suffered.  Wealth has suffered.   The Russian economy will likely suffer for years, possibly decades to come.    

As an aside, please do note that not all Russians wanted this war.  Think of the subcultures in the USA and other rich western countries that have opposed war or the nuclear arms race and one finds the same subcultures in Russia.

The important point from the perspective of the welfare of Europeans and North Americans is that Russia can economically last for a very long time.   That has to be part of the strategic calculation on the part of US-lead NATO going forward.     Any illusions of a quick, inexpensive military victory in Ukraine should be dismissed or assigned an extremely low probability of materializing.

This conflict could easily escalate with conventional weapons alone into highly destructive and risky directions.        


Lazy8

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Location: The Gallatin Valley of Montana
Gender: Male


Posted: Oct 25, 2022 - 7:52pm

 R_P wrote:
As Europe falls into recession, Russia climbs out
Real-time data show a subdued but strengthening economy

Surprise, dumping massive amounts of currency into the military sector raises GDP—hence the durable fallacy that wars are good for the economy.

An awful lot of Russians who should be doing productive work are either dodging shrapnel in Ukraine or already casualties, and the work they should be doing is going undone. But GDP counts their military pay and the expenditures for weapons and fuel and boots, even if the soldiers they're being bought for never get them because they were stolen by a corrupt procurement  apparatus or blown up on the way.

So GDP looks great! Money is being spent! The fact that it is buying nothing of any earthly use matters not at all to that tabulation. Russia is becoming poorer by the minute, squandering its future to run in place, but the number look great.

Reality always wins in the end.
miamizsun

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Location: (3261.3 Miles SE of RP)
Gender: Male


Posted: Oct 25, 2022 - 10:01am

now the flip side of russia's economic situation
and the call is coming from inside the house...



westslope

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Location: BC sage brush steppe


Posted: Oct 25, 2022 - 9:18am

 R_P wrote:
As Europe falls into recession, Russia climbs out
Real-time data show a subdued but strengthening economy




The EU economy is getting hammered.   But the USA is not that far behind in terms of heading into recession (if not already there).   

Well done President Biden.  Chalk up another victory for US Exceptionalism.    Please continue to target a military victory in Ukraine and let's see where the chips fall.  
Lazy8

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Location: The Gallatin Valley of Montana
Gender: Male


Posted: Oct 24, 2022 - 8:17am

 black321 wrote:

Comment from Matt Maley at Miller Tabak sums it (current and recent past economy)  up:
“If we had tried maintain what we had a year ago, it would have been like getting drunk…and then trying to stay drunk…to avoid a hangover. What the Fed is trying to do is to keep a bad hangover from becoming a horrendous one…but they’re also trying to make sure we don’t get drunk again……….It’s a very tough job,”


And all it has in the medicine cabinet is more alcohol. But this time is different!
black321

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Location: An earth without maps
Gender: Male


Posted: Oct 24, 2022 - 6:50am

Comment from Matt Maley at Miller Tabak sums it (current and recent past economy)  up:
“If we had tried maintain what we had a year ago, it would have been like getting drunk…and then trying to stay drunk…to avoid a hangover. What the Fed is trying to do is to keep a bad hangover from becoming a horrendous one…but they’re also trying to make sure we don’t get drunk again……….It’s a very tough job,”
R_P

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Posted: Oct 23, 2022 - 12:41pm

As Europe falls into recession, Russia climbs out
Real-time data show a subdued but strengthening economy


R_P

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Posted: Oct 11, 2022 - 3:11pm

We (Still) Think The Price Is Worth It
Protests Rage Across Europe, As Sanctions-Fuelled Inflation Surges and Economic Crisis Deepens
Last Friday (October 7), the 82-year old French writer Annie Ernaux won the Nobel Prize in Literature, for what the panel described as an “uncompromising” 50-year body of work exploring “a life marked by great disparities regarding gender, language and class”. A feminist and politically committed writer, Ernaux is the first French woman to win the award.

The news of her triumph was cause for celebrations, albeit brief, at the Élysée Palace, whose current resident, President Emmanuel Macron, tweeted:

“For 50 years, Annie Ernaux has written the novel of the collective and intimate memory of our country. Her voice is the voice of the freedom of women and forgotten figures of the century”.
Ernaux herself responded to the news by describing writing as a political act, a means of opening our eyes to social inequality. To that end, she uses language like “a knife”, to tear apart the veils of imagination. The next day (October 8), she turned that knife on Macron. (...)

westslope

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Location: BC sage brush steppe


Posted: Oct 6, 2022 - 4:57pm



Belarus dictator Lukashenko BANS price increases with immediate effect to curb rampaging inflation amid Western sanctions

  • Belarus has been targeted by sanctions for helping Putin in his war in Ukraine
  • Inflation has soared 18 per cent since last year in the former Soviet nation
  • Lukashenko outlawed price increases from today, which could lead to shortages



westslope

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Location: BC sage brush steppe


Posted: Oct 6, 2022 - 1:59pm

 NoEnzLefttoSplit wrote:


 isn't there something delightfully ironic about our in-house communist wailing about government intervention and making a desperate plea for a return to a free market?

Sorry, even with an open market, a return to business as usual ain't going happen. Russia breached trust. That's not something you can easily repair.


You are such a high priest of elevated morality.


And your understanding of economics and international relations is pretty damn weak.

miamizsun

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Location: (3261.3 Miles SE of RP)
Gender: Male


Posted: Sep 21, 2022 - 5:02am

 NoEnzLefttoSplit wrote:

What is interesting here in Germany is the pattern of dissension. You get a number of academics and Russian apologists still punching above their weight in public discussion and keep plugging the Kremlin's line, like this plonker. But the real hands-on business people know exactly what the situation is. The loss of Russian and Ukrainian markets has been factored into budgets for the coming year. The more pressing issue is supply chain issues which are hard to predict.
The actual cost of energy OTOH is something you can factor into your pricing. Some succeed better than others. The key point though is that all of these distortions are temporary until the market settles back into place with new parameters. Russia has basically cooked its goose.
Oil & gas dependency on Russia is never going to happen again. 


has "tankie" which was originally a tease or mocking pejorative now morphed and crystalized into a badge of honor?
is it being embraced by intellectual western keyboard warriors? apparently so
surely he has reached out to putin and demanded that he cease fire, go home and make reparations to ukraine, no?

will this prompt the world to expedite its transition off of fossil fuels and onto greener sources?
what happens after putin? 
will the next person in line reject violence/war for peaceful leadership?
acknowledge human rights and voluntary makets?
i would say yes
NoEnzLefttoSplit

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Gender: Male


Posted: Sep 19, 2022 - 1:16pm

 R_P wrote:

Still plenty of wishful thinking there.



 isn't there something delightfully ironic about our in-house communist wailing about government intervention and making a desperate plea for a return to a free market?

Sorry, even with an open market, a return to business as usual ain't going happen. Russia breached trust. That's not something you can easily repair.

R_P

R_P Avatar



Posted: Sep 19, 2022 - 1:11pm

 NoEnzLefttoSplit wrote:
um, I think you are missing the point. Nobody wants to do business with Russia until they get their shit sorted. It's got nothing to do with whether they are allowed to do business with Russia.
And if you think the sanctions aren't working, then what's your beef?  

Still plenty of wishful thinking* there.
NoEnzLefttoSplit

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Gender: Male


Posted: Sep 19, 2022 - 1:09pm

 R_P wrote:
um, I think you are missing the point. Nobody wants to do business with Russia until they get their shit sorted. It's got nothing to do with whether they are allowed to do business with Russia.
And if you think the sanctions aren't working, then what's your beef?  
R_P

R_P Avatar



Posted: Sep 19, 2022 - 1:02pm

 NoEnzLefttoSplit wrote:
Russia has basically cooked its goose.

Or so we keep hearing.

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