These people have no idea how offensive they are. I remember usually around day 4 of field problems in the Army we would stop being able to notice how awful we all smelled. I suppose it's that sort of phenomenon.
My spider sense tells me we are in for a tremendous fall eventually, and all those millennials who have their pick of jobs now are going to experience a sharp comeuppance.
I've never seen so much cheer-leading for a recession in my life. Every network. NPR has been on the bandwagon, but no surprise there. Finally somebody on there being interviewed a week or so ago remarked that the business leaders they talked to didn't feel a recession on the horizon but that all of the hand-wringing about the imaginary one could in fact begin to affect general sentiment. Feature not a bug I'm sure. A NYT opinion piece today "The vibes are off- and that could begin to affect the economy" By Kyla Scanlon. She included this sentence:"These GDP figures were the icing on the cake of bad news-a 9.1 percent surge in the Consumer Price Index, skyrocketing home prices and a softening labor market, as evidenced by an increase in jobless claims" OK, what week did she write this? I've read that the housing prices are coming back down a bit and that over half a million jobs were added in July. That's a "softening job market"?? They're going to have their recession one way or another, but I don't need to admire their dedication.
Asking price for what was trading at $560K actual down to $469K this week where I live. Gas under $4. Grocery store cutting hours by 25% because no workers.
There must certainly be a contraction at some point but there is no good reason to expect crashes. Plenty of buffers built in now. Plus, as long as there is lots of capital there is no reason to expect what made the Great Depression great, which was uncollectible receivables which destroyed solvent firms. Excess capital may hold some terrible penalty that I have been unable to imagine, but even the New Deal reforms gave us 60 years without a crash.
You can't do as much cocaine and booze as Kudlow (allegedly? Yeah, right - allegedly) did and not seriously damage your brain. He has a great speaking voice and mannerisms, though. That's the only reason why he gets jobs. Anyway...
I think the Great Resignation was going to happen no matter what. And everyone should have known it, because it's simple math:
We have way more older Americans at or near retirement age than we have young workers to replace them. That's why unemployment is so low and yet businesses are begging for help.
They're begging young people and all the young people already have jobs. We simply do not have enough workers to replace those who retired, and that's doubly true in advanced jobs.
For instance, I have a friend who was a pilot for a family that had a large jet and for some unfathomable reason, they sold it and went the lease route. So my friend easily got a job at a charter service but it was no time at all before all the private companies started raiding the charter services for pilots. Why?
Because the airlines had raided the private companies for pilots to replace those who'd retired over the last three years. It turned out there were way more older pilots being forced to retire at 63 (FAA-mandated max age for flying a 737 or larger) than there were young pilots qualified to move up to the big jets.
So, airlines raided companies but those companies still needed pilots for their corporate jets, so they are raiding charter services. The service my friend started out at has 7 Challengers, which is a 2-pilot aircraft, and as of about a month ago they had exactly 2 pilots on staff.
I'm sure this is true of every job where a specialized skill or advanced degree is needed. And it's not something that should come as a surprise to anyone. We've known for a long, long time that we made way more babies from 1946 - 1960 than we did from 1970 - 1985.
These people have no idea how offensive they are. I remember usually around day 4 of field problems in the Army we would stop being able to notice how awful we all smelled. I suppose it's that sort of phenomenon.
"Wansker." I think it's a Slovenian discount chain.
Not to mention "sinister," if we are being leftists about it.
My spider sense tells me we are in for a tremendous fall eventually, and all those millennials who have their pick of jobs now are going to experience a sharp comeuppance.
This is news? https://uploads.disquscdn.c...
And odd how those jeans on the left became fashionable 35 years later.
"He's a legacy, Otter."
Kudlow is always wrong. Back when he had his massive coke habit, I bet he spent most of his money on powdered milk and baby laxative.
I've never seen so much cheer-leading for a recession in my life. Every network. NPR has been on the bandwagon, but no surprise there. Finally somebody on there being interviewed a week or so ago remarked that the business leaders they talked to didn't feel a recession on the horizon but that all of the hand-wringing about the imaginary one could in fact begin to affect general sentiment. Feature not a bug I'm sure. A NYT opinion piece today "The vibes are off- and that could begin to affect the economy" By Kyla Scanlon. She included this sentence:"These GDP figures were the icing on the cake of bad news-a 9.1 percent surge in the Consumer Price Index, skyrocketing home prices and a softening labor market, as evidenced by an increase in jobless claims" OK, what week did she write this? I've read that the housing prices are coming back down a bit and that over half a million jobs were added in July. That's a "softening job market"?? They're going to have their recession one way or another, but I don't need to admire their dedication.
"Slaves."
At least Larry convinced Manchin to support the inflation reduction act. I'll give him credit for that.
I'm Human Capital Stock and I Vote
Asking price for what was trading at $560K actual down to $469K this week where I live. Gas under $4. Grocery store cutting hours by 25% because no workers.
There must certainly be a contraction at some point but there is no good reason to expect crashes. Plenty of buffers built in now. Plus, as long as there is lots of capital there is no reason to expect what made the Great Depression great, which was uncollectible receivables which destroyed solvent firms. Excess capital may hold some terrible penalty that I have been unable to imagine, but even the New Deal reforms gave us 60 years without a crash.
You can't do as much cocaine and booze as Kudlow (allegedly? Yeah, right - allegedly) did and not seriously damage your brain. He has a great speaking voice and mannerisms, though. That's the only reason why he gets jobs. Anyway...
I think the Great Resignation was going to happen no matter what. And everyone should have known it, because it's simple math:
We have way more older Americans at or near retirement age than we have young workers to replace them. That's why unemployment is so low and yet businesses are begging for help.
They're begging young people and all the young people already have jobs. We simply do not have enough workers to replace those who retired, and that's doubly true in advanced jobs.
For instance, I have a friend who was a pilot for a family that had a large jet and for some unfathomable reason, they sold it and went the lease route. So my friend easily got a job at a charter service but it was no time at all before all the private companies started raiding the charter services for pilots. Why?
Because the airlines had raided the private companies for pilots to replace those who'd retired over the last three years. It turned out there were way more older pilots being forced to retire at 63 (FAA-mandated max age for flying a 737 or larger) than there were young pilots qualified to move up to the big jets.
So, airlines raided companies but those companies still needed pilots for their corporate jets, so they are raiding charter services. The service my friend started out at has 7 Challengers, which is a 2-pilot aircraft, and as of about a month ago they had exactly 2 pilots on staff.
I'm sure this is true of every job where a specialized skill or advanced degree is needed. And it's not something that should come as a surprise to anyone. We've known for a long, long time that we made way more babies from 1946 - 1960 than we did from 1970 - 1985.
I think I'll write my own obituary and start if off with, "Say goodbye to this human capital stock, I've ridden off into the sunset!".