Prices Dropping like a Ton of Bricks
•
by RomanEmpire
I logged onto my Org a few minutes ago in order to sell the products of my barely-profitable Q1 food company, and found that prices have dropped 13 cents overnight. I had to lower the salaries of all my Skill 6 workers down to a meager 13.5 USD, and I am still only profitable by a few dollars per day. Not to mention the fact that many of my employees will leave once they find out they are making far less than they used to.
An I had foolishly decided to try to run a Q1 grain company I had accidentally bought a few days ago. Oh, silly me. With salaries the way you are, and the fact that Q1 grain is incredibly expensive, that ill never be profitable unless I have something like skill 6 employees worker for 5.5 USD a day. By the way, if you are a skill 6 land worker willing to work for 5.5 USD a day, PM me 🙂
Or something to that effect where I can actually have my business survive.
The market is currently almost impossible for business owners such as myself. Yesterday Q1 food cost over 90 cents, today the average selling price is 77. Q1 weapons cost over 6 USD yesterday, and are only around 4.6 today. No is definitely not the time for aspiring business peoples to start their own company in the eUS. Oh, and anybody who wants to give me 20g for free to upgrade the quality level of my grain company, that would be most appreciated 🙂
So, that's what is happening with the economy today. Salaries will most likely have to drop in all areas of the manufacturing industries in the next few days. I do not usually write economic articles, but I figured that it was worth saying something about.
Facebook
Twitter
Discord
Comments
It has a lot to do with the new exchange rate of $ to gold. Expect lower $ prices but in terms of gold, things will remain fairly steady.
Its dropping like a ton of bricks, my slary used to be 13.05 but then my gm lowered it 10.70, I shrugged it off, and decided to see if there were any companies paying more. The highest salary for a land worker with skill 4-4.99 is $9.
Im a level 3 making 6 .43 in making bread.
I'm skill 5. I'll work at 1.00$
i owned a q1 wweapon company i just mothballed it
I own a Q2 iron company and considering doing the same if things don't improve in the next day or two.
The value of the dollar went up by 31%. So yes, some of the drop in prices is market driven, but some of it is just currency fluctuation.
If someone was making $10 a few days ago they are now making the equivalent of $13.10 without getting a raise. If the price of your product dropped from $10 to $8, you are actually getting more gold for it than you were before -- the problem is that your employee costs went up by 31%.
I understand the reasoning behind wanting the US$ at 0.025 Gold, but I think our government underestimated the chaos such ham-handed intervention in currency policy would wreak on the economy.
Wish I had known they were gonna do that -- I would have converted all my gold to US$ last week. 🙂
I won't even raise the issue of potential abuse of monetary policy...