This is truly insane:
— The Kobeissi Letter (@KobeissiLetter) March 15, 2025
DOGE's spending cuts are ramping up so quickly that United Airlines announced government travel is down a MASSIVE -50%.
US airline stocks have now erased over -$20 BILLION of market cap over the last 4 weeks.
What is happening here?
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Billions of dollars of our taxpayers money was being used to fly business/but mostly leisure travelers. Don’t forget USAID was being used as a ATM machine. I recently heard a stock report saying how that the plane tickets are cheaper now. Let’s move on to car rentals and hotels. Maybe they’ll start to come down. And Coffee, the price for a cup of coffee is now $2.79 to $3.49(non Starbucks). I only buy coffee in a restaurant when I know I’m going to be able to drink three or four cups and get one to go then I don’t mind paying the outrageous price.
When you STEAL TRILLIONS of wealth from the productive sector of society and consume it via the unproductive/parasitic sector of society, plenty of folks “benefit.” Time for those folks, who have basically been living large off the taxpayers (ultimately) to take a haircut. Will that be painful for the overall economy? Of course it will. But in the end, monies remaining in the pockets of the productive and contributors, will make their way back via consumer/business spending, though maybe not the same “winners” will result. Oh well. Should we instead just keep funding United, Hilton, Hertz, etc. while the parasites enjoy their pointless trips, etc? Seems like an easy answer. Get out of the stocks that are going to fall when the government trough is removed.
Beachside hotels gonna get cheaper. Maybe a taxpayer can afford a Vacation soon.
I’m willing to bet that a measurable fraction of the decline in air travel seats is due to the reduction in .GOV paid shuttling of illegals here and there and all about the country.
Thank God it is now just OUTBOUND for that cadre of budget seats.
Planes running into other planes in the sky, and landing upside down tend to make people rethink air travel, as well as other issues mentioned.