Bidenomics And That “Top Five” Ranking
By Mitch Berg
The Shutterfly warehouse in Shakopee is going to close.
A picture products and service company has decided to close its facility in Shakopee, costing around 250 employees their jobs.
Shutterfly said in a notice to the Minnesota Department of Employment and Economic Development that it plans to permanently close its location on Deen Lakes Boulevard near the end of June 2024.
A friend of the blogs, right, saying the closing “couldn’t be the new laws just passed”, could it?
The list of possibilities is so rich:
- “Bidenomics” – three years of inflationary government spending combined with falling output as companies and capital consolidating with both fists.
- The end of the tax increment financing that Shakopee implemented to get the warehouse in the first place
- Minnesota’s owners, new laws and taxes.
Take your pick.
August 11th, 2023 at 7:05 am
Oh please… this is a company with lots of financial problems in a dying industry. It’s from CA; you think they haven’t seen a tax or progressive policy before?
August 11th, 2023 at 7:14 am
I plan to retire to a 2-bedroom in Florida. No room for 35 years of photo albums. Kids don’t want them – they’ve got junk of their own. Last winter, I spent months sorting and scanning pictures to the external hard drive. Didn’t print any, didn’t get any calendars, greeting cards or wall hangings made, either. Sorry, Shutterfly, I’m downsizing, too.
I suppose Liberals will shrug and recommend the employees learn to code.
August 11th, 2023 at 7:18 am
The debt level PE’s force on the acquired companies make it almost impossible to be cash flow positive…it’s a losing game for the acquired companies. Similar to what’s happened to Yellow.. $1.2 bn debt of which 50% was Covid loans from Government. Plus half a billion to PE Apollo. And EBITDA was? Sounds like it was drowning in debt.
August 11th, 2023 at 7:27 am
Come on man! Making a profit is so 1980s! You have legal weed now. Rondo will be rebuilt. The last of St George Floyd’s killers is going to jail! Happy days are here again.
August 11th, 2023 at 8:26 am
First American City to Tame Inflation Owes Its Success to Affordable Housing
https://www.bloomberg.com/news/features/2023-08-09/minneapolis-controls-us-inflation-with-affordable-housing-renting
The Twin Cities has one of the lowest inflation rates in U.S., down to 1%. Since conservatives think that everything that happens in the Twin Cities is because of the DFL leadership, congratulations to the DFL leadership for this good economic news!
From the article: “We built so much multifamily housing, it allowed rental prices to come down here a little quicker,” Schipper said.
Per the census bureau, the Minneapolis St. Paul metro area grew from a population of 3,340,070 in 2010 to 3,693,729 by 2022.
MSP has never been a boom and bust town, we have slow steady growth. That being said, we have significantly outpaced all comparable regions in the Midwest or Rust Belt.
August 11th, 2023 at 9:12 am
The headline photograph is new development at the Ford plant, which is not in Minneapolis, it is across the river in saint Paul
That tells you as much as you need to know to judge the accuracy of the news article
If inflation in Minneapolis was really 1%, i’d be over there by in gas and groceries. it’s not. what they have is rent control and low income projects.
August 11th, 2023 at 9:43 am
That Bloomberg story was an IQ test. They wanted to see how stupid their loyal readers really are…turns out, stupid as dirt. But we knew that.
Inflation is low, because the cost of rent, residential and commercial, is plummeting. Rent is plummeting because everyone with an IQ > room temp is getting the fuck out of that shit hole while the getting is good.
But wait, it gets better…. “At the same time, high costs for groceries and other goods can make it hard for Minneapolis residents to notice the favorable conditions in the housing marked. Food prices in the metro area rose 6.8% in May, over the year.” 😂
And rAT adds more: “Per the census bureau, the Minneapolis St. Paul metro area grew from a population of 3,340,070 in 2010 to 3,693,729 by 2022.”
Yup, the 75IQ diaspora from Africa and South America have been pouring in there like the brown river from a septic leak. The educated White people are making room for them! Minnesota is in the top 10 states losing population. 🤣😂
This whole thing is the story of failure and collapse.
LMMFAO
August 11th, 2023 at 9:49 am
Fascinating to see the magical MAGA zones have higher inflation numbers. I suppose Overlord Biden has put a thumb on the scale through his secret cabal to ensure those locations have higher inflation….
August 11th, 2023 at 9:53 am
It’s not his thumb, it’s the result of an obscure principle of economics called Supply and Demand known to all but Liberals.
In states where living conditions are improving, people are flocking in and as a result, rents are climbing as demand outpaces supply. Liberals think this is a Bad Thing because it costs so much to live in desireable locations.
In states where living conditions are degenerating to Third World Shithole status, people are fleeing and as a result, rents are falling as supply exceeds demand. Liberals think this is Good News since you could live there cheap, if you dared.
August 11th, 2023 at 9:54 am
Bigman, that development in the Ford plant meets every expectation I had for it. 20% low income! LMAO! 🤣
There isn’t a successful mixed income complex in the country. They all end up as shit holes. Just look at the “Elan Uptown Luxury Apartments” in Uptown. The 10%
low incomeblack tenants have taken it over. Their parties invite all the trash from N Mpls, and end up in gunfights…the managers finally had to drain the pool. All the residents who’s rent subsidizes the trash are moving out.The Ford homes look like block housing in Pyongyang. 10/10 that water feature becomes impossible to keep clean, and stinks to high heaven within 5 years. 💩
August 11th, 2023 at 9:56 am
What “Bigman” notes. It’s only “affordable” housing if you don’t count all the money that went into building the project–typically when you include the tax dollars that go into such projects, you find that it would have been cheaper to pay poor people to move to more affordable areas.
Plus, it’s not generally good for a city to be the least inflationary in the region; what it means in this case is that the rental housing market, and lower income housing in general, is collapsing. We would have at least the second real estate bubble in 15 years popping in Minneapolis, and suffice it to say that those who own rental properties are taking notice as their mortgages go underwater.
As a general rule, if your city is not inflationary while the rest of the state/nation is, it means that the economy sucks in your city, and almost certainly real estate prices are taking a dive. Oopsie.
August 11th, 2023 at 9:58 am
Thanks to skillful reprobate leadership, a guy can buy a 4 bedroom house in Detroit for <$20K!!
High end homes on Golf Links Rd. in Oakland are on the market at 30% discounts from what they were in 2016. The people who lived there felt safe because the 580 freeway ensured they never had to travel the city streets. Now the freeway is a shooting gallery, too.
#Winning
LMAO
August 11th, 2023 at 10:16 am
“It’s not his thumb, it’s the result of an obscure principle of economics called Supply and Demand known to all but Liberals.”
Which made me laugh when they were demanding a $15 minimum wage while demanding open borders. How the hell do they not understand S&D also works with human capital.
August 11th, 2023 at 10:49 am
Good News, Comrades! Your dedicated servants on the City Council working with Fearless Leader Frey have taken bold and effective action to stop greedy landlords from raising rents. Your rent will not go up, no matter how much water, sewer, electric, property taxes, insurance or maintenance fees rise. You will never pay another dime but will continue to receive the same outstanding levels of service, made possible through the proper application of the scientific principles of democratic socializm just as in other major cities such as New York, San Francisco, Detroit, St. Louis and Baltimore. If you like your apartment, you can keep your apartment!
But wait, there’s more! Soon, you will enjoy a culturally diverse neighborhood as people from around the country come to our new affordable-housing communities. Your sons and daughters will experience first-hand the joys of living with newly-arrived prospective citizens, eager to share their ideas on the proper place of women and LGBTQ++ persons in society.
Yes, it’s an exciting time to live in Minneapolis. We’re glad you’re willing to pay for a better Minnesota. Onward!
August 11th, 2023 at 6:34 pm
Assume we live in a market economy. Why has the inflation rate in Minneapolis gone down compared to similar markets?
The first thing you notice, as a rational human being, is that inflation has components. So you ask which components of inflation have increased or decreased in price in the past 12 months.
Always ask the questions people do not want to answer.
August 11th, 2023 at 8:05 pm
Questions are a burden to others
Acting like that will get you declared unmutual
August 13th, 2023 at 4:38 pm
If Tostitos Spinach Dip goes from $4 to $6 per jar, that is a 50% rate of inflation.
If it then goes to $8 per jar, that is only a 25% rate of inflation. And when it goes to $10 per jar, that is a hardly worth mentioning 12.5% rate.
So inflation is coming down, right? Things are getting better?
No. The RATE of increase is slowing but the price is still going up $2 each time. Dip now costs more than twice as much as it did. Nothing about this is “better.”
Democrats cheering the Lesko Brandon economy still don’t understand that
August 13th, 2023 at 6:06 pm
Bigman, that stuff is poison. It is loaded with salt to extend shelf life.
August 14th, 2023 at 9:01 am
So don’t buy it. More for me. Which, theoretically, ought to bring the price down. Win-win!
Reminds me of a joke by The Geechy Guy:
“Don’t Do Drugs! All you drug users, stop using drugs. That will bring the price down so I can start using them.”