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Material Boy

Is anyone making more profit (or even the same) than what they were before lockdown?

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I came from the mall and I saw that a clothing shop, food shop (Pie City I think) and a pet shop closed down. I'm just curious, is any business making more (or even the same) profit than what they were making before lockdown? I've heard that even people in the medical industry are taking pay cuts to keep the companies afloat. What is going on, is it the extra expense of doing business or what? 

shopsclosed.thumb.jpg.230d40ad28a0789f6c3571a316941bc8.jpg


dirt.jpg.d80b5ba0cbb09ca9f6b07fd0b90a8501.jpgDirt for my shrew :)

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Posted (edited)

While the cost of doing business has certainly increased with all the precautions needed and restrictions imposed, I think on a macro level there is simply less money in circulation, people have lost their jobs, people are earning less, and what they have they are far more frugal with only spending on essentials (new clothes, fast food even pet food can be done without), so what is happening here is what happened in Lebanon with their economy. But our population almost ten time larger (and GDP 6x) so it will take a bit longer. 

As for why medical companies are struggling, the government used emergency procurement to bypass existing suppliers to divert contracts to members of the ANC and their families. This set of a feeding frenzy as ANC cronies waited for their turn at the trough, these covidpreneurs just used outsourced the procurement to their cheapest suppliers they could find with no regard for quality, so existing medical companies lost out.

Edited by Friedmanite

“One of the great mistakes is to judge policies and programs by their intentions rather than their results.” - Milton Friedman

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Even optometrists are closing down

optometrist.thumb.jpg.11c083dae9ef46221bba5607891bd842.jpg


dirt.jpg.d80b5ba0cbb09ca9f6b07fd0b90a8501.jpgDirt for my shrew :)

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