Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Current Economic Constellation
#1
I used the word "constellation" because it appears this chart of happiness vs cohort somewhat mimics the generational constellation and various cohorts' current economic situations. The only surprise is the fact that Millies are happier in general than X (albeit not by much). We X are screwed, head end Millies and Disco Boom not too good either. Aquarian Boom and Silents have all the money. In the case of younger Millies it may just be the effect of naivete - give them a few years and we'll see what actual outcomes look like.

https://www.yahoo.com/finance/news/chart...47253.html

Reply
#2
I would say the youngest Millies out there are still living in Mom and Dad's house and only work for pocket money or are at university and pretty much doing the same. As such their economic well being would reflect that of their parents, more or less. If they have Xer parents more because in general from what I've seen Xers typically do not like discussing their lack of money with their children unless they're constantly broke.

As for Xers we've been around long enough to know we're completely screwed and have been since the day we were shoved out of the womb. Such is the life of the clean up crew.

ETA:

Even though the BF and I could afford to buy teh boy a car, we didn't. Mostly on my insistence that his character was more important than him having a car. Needless to say his economic happiness is lower than your average 1999 cohort.
It really is all mathematics.

Turn on to Daddy, Tune in to Nationalism, Drop out of UN/NATO/WTO/TPP/NAFTA/CAFTA Globalism.
Reply
#3
(05-16-2016, 12:22 PM)Kinser79 Wrote:  As for Xers we've been around long enough to know we're completely screwed and have been since the day we were shoved out of the womb.  Such is the life of the clean up crew.

Generation X is damage control and the most we can hope for is to keep the world from exploding. Just like the Lost no one will thank us for it either.

(05-16-2016, 12:22 PM)Kinser79 Wrote: Even though the BF and I could afford to buy teh boy a car, we didn't.  Mostly on my insistence that his character was more important than him having a car.  Needless to say his economic happiness is lower than your average 1999 cohort.

This is possibly the best thing you could do for him. It will force him to start figuring out how to get things on his own which will help him survive in the future. He may be unhappy now but it just might keep him from being really unhappy in the future.
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. -- H.L. Mencken

If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action.   -- Ludwig von Mises
Reply
#4
(05-16-2016, 01:00 PM)Galen Wrote: Generation X is damage control and the most we can hope for is to keep the world from exploding. Just like the Lost no one will thank us for it either.

Yeah funny thing is I don't expect to be thanked for it, so I've unnerved Millie co-workers by reacting to praise with suspicion.

Quote:This is possibly the best thing you could do for him. It will force him to start figuring out how to get things on his own which will help him survive in the future. He may be unhappy now but it just might keep him from being really unhappy in the future.

He complained about it, and about how the vehicle is a POS. And it is. But I rather bluntly reminded him I didn't own a car at all until I was 25. Before then I either didn't drive, or drove a vehicle owned by Uncle Sam.
It really is all mathematics.

Turn on to Daddy, Tune in to Nationalism, Drop out of UN/NATO/WTO/TPP/NAFTA/CAFTA Globalism.
Reply
#5
(05-16-2016, 12:22 PM)Kinser79 Wrote: the clean up crew.

This is the perfect descriptor of Nomads! Big Grin
Reply
#6
(05-16-2016, 01:58 PM)Kinser79 Wrote: I've unnerved Millie co-workers by reacting to praise with suspicion.

Many of us Millennials tend to tune out praise for a different reason, we have been given constant praise so much that we no longer know what is genuine and what is BS. Confused

There is also a regional cultural element to it, too. Here in the Upper Midwest excessive praise is looked down on except of cases of people genuinely "going above and beyond the call of duty" because of our tendency towards self-effacing humility, "Oh, you don't need to praise me, I was just doing what one is supposed to do!".
Reply
#7
(05-16-2016, 03:05 PM)Odin Wrote:
(05-16-2016, 12:22 PM)Kinser79 Wrote: the clean up crew.

This is the perfect descriptor of Nomads! Big Grin

It is. We get the thankless task of putting the house back in order after the Prophets are done tearing it apart.

(05-16-2016, 03:12 PM)Odin Wrote:
(05-16-2016, 01:58 PM)Kinser79 Wrote: I've unnerved Millie co-workers by reacting to praise with suspicion.

Many of us Millennials tend to tune out praise for a different reason, we have been given constant praise so much that we no longer know what is genuine and what is BS. Confused

There is also a regional cultural element to it, too. Here in the Upper Midwest excessive praise is looked down on except of cases of people genuinely "going above and beyond the call of duty" because of our tendency towards self-effacing humility, "Oh, you don't need to praise me, I was just doing what one is supposed to do!".

It isn't just the Upper Midwest, it is the Midwest generally and the South as well. Usually when I get praise for doing what I'm supposed to do it is an indication that the person doing it is trying to butter me up. Conversely given I'm so close the X/Millie line they might confuse me for a Millie who has always gotten such praise--when it merely makes me wonder what the person doing the praising is really up to.

Thankfully my personality was fully formed before trophies for participation became the norm. I only ever got one and I threw it into the trash because it was meaningless. Besides it isn't like I didn't already have trophies and awards for actually winning. Trophies are for winners you know.
It really is all mathematics.

Turn on to Daddy, Tune in to Nationalism, Drop out of UN/NATO/WTO/TPP/NAFTA/CAFTA Globalism.
Reply
#8
This thread looks as good as any...

Wolfstreet Wrote:These Debt & Rent Slaves Get Blamed for the Lousy Economy
by Wolf Richter • October 10, 2016 • 6 Comments


The Millennials, the Bitter Irony!

Over the past few days, the Diamond Producers Association launched its first new ad campaign in five years after watching retail sales of diamond jewelry slow down, as Millennials built on the habit pioneered by prior generations of delaying or not even thinking about marriage, and thus not being sufficiently enthusiastic about buying diamond engagement rings.
The campaign, according to Adweek, is designed to motivate Millennials “to commemorate their ‘real,’ honest relationships with diamonds, even if marriage isn’t part of the equation.”
Mother New York, the agency behind the campaign, spent months interviewing millennials, according to Quartz, and learned that they associated diamonds with a “fairytale love story that wasn’t relevant to them.” So the premium jewelry industry, seeing future profits at risk, needs to do something about that.
A year ago, it was Wall Street – specifically Goldman Sachs – that did a lot of hand-wringing about millennials. “They don’t trust the stock market,” Goldman Sachs determined in a survey. Only 18% thought that the stock market was “the best way to save for the future.”
It’s a big deal for Wall Street because millennials are now the largest US generation. There are 75 million of them. They’re supposed to be the future source of big bonuses. Wall Street needs to figure out how to get to their money.
The older ones have seen the market soar, collapse, re-soar, re-collapse, re-soar…. They’ve seen the Fed’s gyrations to re-inflate stocks. They grew up with scandals and manipulations, high-frequency trading, dark pools, and spoofing. They’ve seen hard-working people get wiped out and wealthy people get bailed out. Maybe they’d rather not mess with that infernal machine.
And today, the Los Angeles Times added more fuel. “They’re known for bouncing around jobs, delaying marriage, and holing up in their parents’ basements,” it mused.
Everyone wants to know why millennials don’t follow the script. Brick-and-mortar retailers have been complaining about them for years, with increasing intensity, and a slew of specialty chains have gone bankrupt, a true fiasco for the industry, even as online retailers are laughing all the way to the bank.
“For starters, millennials are not big spenders, at least not in the traditional sense,” the Times said. Yet most of them spend every dime they earn, those that have decent jobs. But much of that spending goes toward their student-loan burden and housing.
Everybody somehow agrees that millennials as a group prefer “experiences” – eating out, traveling, etc. – over buying merchandise, such as jewelry, clothing, furniture, and cars, though they buy gadgets and services galore. But that “experiences” theory too is running into trouble because restaurants are slithering into a recession as sales have hit the skids recently.



So these spending habits of millennials “may not be great for a U.S. economy driven by consumer spending,” the Times points out.
But I wonder: Consumer spending includes a meal from a taco truck along with a craft brew, all made in America, same as a piece of clothing made in Bangladesh. Why would splurging on an “experience” near a taco truck be worse for the economy than buying some imported piece of merchandise? I don’t get it.
And travels? Granted, foreign travel is not good for the US economy. But other generations, too, liked and still like to travel – a lot. Some of us were gone for years. I doubt millennials are more damaging to the US economy in that department than we are.
Domestic travel is good for the economy, thought it may be less good for the environment. Every dime they spend getting there and staying there or having fun – all these “experiences” add to GDP.



But millennials have two problems prior generations didn’t have – at least not to that crazy extent:
  1. They’re bogged down in student loans, the result of rapacious price increases in higher education. The New York Fed estimates that total student debt from federal and private lenders has reached a record $1.3 trillion. An increasingly large part of that debt sits on top of millennials, turning them into debt slaves.
  2. They’re facing confiscatory rents and home prices in many cities, thanks to Fed’s effort to inflate the greatest asset bubbles the US has ever seen, though few millennials make that connection.
So they rent or stay with their parents or they bunk down together, four or five of them in an apartment in places like San Francisco. Homeownership has plunged to 62.9% in the second quarter, the lowest level since the Census Bureau started tracking it in 1965:
[Image: US-homeownership-rate-1965-2016-Q2.png]
For millennials, the homeownership rate fell to 34%, from around 40% for young adults in prior decades, according to the Times. Given the rents they face, saving up for a down payment has become a herculean task. So forget it. But now the real estate industry is complaining about the millennials. Everyone needs new homebuyers to keep the market propped up and the commissions flowing.
And they’re risk averse and not into starting new businesses, according to the Times, which would corroborate Goldman’s lament about millennials not digging the stock market:
Quote:The rate of new start-ups is higher today than 10 or 20 years ago for every major age group — except those between 20 and 34 years old, according to the Kauffman Foundation’s latest annual study of entrepreneurship.
Two decades ago, a little more than 34% of all new entrepreneurs in the U.S. were younger than 34 years old. Today it’s just 25%.
That’s bad news. But it’s logical: burdened by student loans and confronted with confiscatory housing costs, fewer of them have any courage or means left to deal with the extraordinary uncertainties and risks of starting a business in this environment. Given how important small and young businesses are to the economy, to jobs, to invention, to business renewal, and to the middle class, any major reluctance by millennials have in starting businesses will have an impact – or already has an impact.
Over the past three decades, the US averaged nearly 120,000 more business births than deaths per year. But between 2008 and 2011, on average 30,000 more businesses died than were born, according to the Census Bureau. That the core of the US job creation machine has been faltering is not a sign of a healthy or even a “recovering” economy. Read…  “Or We’ll Lose the Whole Middle Class”: Gallup CEO

And anyone with a brain finds this information shocking?  OK, so Millies are hip to the facts that the housing market is a bubble, diamonds are just pretty pieces of carbon, starting a business is wracked with risks and in some places regulatory/tax hell, and the stawk markets are a rigged casino.

My guess some Millies already learned some lessons the hard way and others listened to some X'er relative.  I mean,  it wasn't that long ago that X'ers were dissed for being basement dwelling slackers with crap jobs. Cool 

The song remains the same,  room to move as a fry cook!
---Value Added Cool
Reply
#9
Corporate America: "Millies aren't suckers, WAAAAAAH!!!!" Big Grin
#MakeTheDemocratsGreatAgain
Reply
#10
I see Millennials are more exiles than insurrectionists when the oligarchs go full retard - as they will surely do after the Republicans get a filibuster-proof majority in the Senate, as The Map strongly suggests that they will in fact do.
"It was better with them that were slain by the sword, than with them that died with hunger, for these pined away being consumed for want of the fruits of the earth" - Lamentations 4:9
Reply
#11
(05-16-2016, 03:12 PM)Odin Wrote:
(05-16-2016, 01:58 PM)Kinser79 Wrote: I've unnerved Millie co-workers by reacting to praise with suspicion.

Many of us Millennials tend to tune out praise for a different reason, we have been given constant praise so much that we no longer know what is genuine and what is BS.

Many but perhaps not most.  Many other millenials believe all the constant praise is genuine.  I think those are the ones who give rise to the "millenials are entitled" idea.
Reply
#12
Right now, the only ones who feel "entitled" to rule over us are the Tea Party/Reagan types, and most of them are older. They are really up in arms or go into "mourning" if their precious ideology is challenged.
"I close my eyes, and I can see a better day" -- Justin Bieber

Keep the spirit alive;
Eric M
Reply
#13
(05-16-2016, 03:05 PM)Odin Wrote:
(05-16-2016, 12:22 PM)Kinser79 Wrote: the clean up crew.

This is the perfect descriptor of Nomads! Big Grin

They are as much to blame for the current mess as any other generation; maybe a little more.
"I close my eyes, and I can see a better day" -- Justin Bieber

Keep the spirit alive;
Eric M
Reply
#14
(12-13-2016, 04:18 PM)Eric the Green Wrote: Right now, the only ones who feel "entitled" to rule over us are the Tea Party/Reagan types, and most of them are older. They are really up in arms or go into "mourning" if their precious ideology is challenged.

I'm thinking more of those who feel entitled to good pay for doing whatever it is that they enjoy doing, as opposed to being willing to do what other people need them to do if they want to be paid well.
Reply
#15
(12-13-2016, 04:21 PM)Eric the Green Wrote:
(05-16-2016, 03:05 PM)Odin Wrote:
(05-16-2016, 12:22 PM)Kinser79 Wrote: the clean up crew.

This is the perfect descriptor of Nomads! Big Grin

They are as much to blame for the current mess as any other generation; maybe a little more.

Hardly, Boomers have had a demographic death grip on politics since the late sixties.
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. -- H.L. Mencken

If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action.   -- Ludwig von Mises
Reply
#16
(12-13-2016, 04:21 PM)Eric the Green Wrote:
(05-16-2016, 03:05 PM)Odin Wrote:
(05-16-2016, 12:22 PM)Kinser79 Wrote: the clean up crew.

This is the perfect descriptor of Nomads! Big Grin

They are as much to blame for the current mess as any other generation; maybe a little more.

Nope,  try rainbows and unicorns which shit golden bricks promises made by:
... NeoLiberalism Cool

Ian Welsh Wrote:I
[Image: The-course-of-Empire-by-Thomas-Cole.jpg]One should understand why people have lost trust in experts, the media and politicians.
It is not difficult, it is the same reason people lost faith in Soviet Communism: promises were made that turned out to be lies: they were not kept.
Soviet Communism was supposed to lead to a cornucopia and a withering away of the state. Instead it lead to a police state and a huge drought of consumer goods, and often enough, even food.  Communism failed to meet its core promises.
The world order we live in was born in 1979 or 1980, with Thatcher and Reagan. It made a few core promises:
  • If the rich have more money, they will create more jobs;
  • Lower taxes will lead to more prosperity;
  • Increases in housing and stock market prices will increase prosperity for everyone;
  • Trade deals and globalization will make everyone better off.
These core promises all turned out to be lies. It’s that simple. For most of the population, the last 40-odd years were either an experience of stagnation, or an experience of decline.
Understand clearly, by 79 people had lost faith in the post-WWII order. They were willing to try something new.
That order has now betrayed too many people, and it is falling. It will continue to fall.  We are in the twilight of Neoliberalism (longer article on that later.)
But this is why people are going for “fake news”. This is why people are willing to listen to demagogues. This is why people don’t trust the press (why should they, the press lied to them repeatedly, it is the original fake news). This is why they don’t listen when hundreds of economists say Brexit is bad (why should they, most economists missed the housing bubble.)
Neoliberalism has discredited everyone who bought in to it.  Who didn’t buy into it?  Well, the hard left and what people are now calling the “alt-right”.
So people are turning in those directions, though more to the right.  Because people are ideologically and identity driven, and most are not intellectuals, what they look for are signifiers that someone is not like the people who screwed them, who lied to them for 40 years.
Trump does not talk like those people.  Farrage does not talk like those people. On the left, Corbyn does not talk like those people and to a large extent, neither did Sanders.
And so they are turning to people who don’t parse like the regular type of elite. Many of those people are also selling them a bill of goods (Trump, to a large extent), or are nasty pieces of work (Trump, Alt-Right), but that doesn’t matter to a lot of people: they can’t take the pain any more; the assured long decline and they will take a flyer on anyone who might shake things up.
Lying is bad policy. It may get you what you want in the short run, even the medium run, but it destroys the very basis of your power and legitimacy.  That is what neoliberal politicians, journalists (yes, yes they are neoliberal) and experts have done to themselves and the order they supported. No one with sense trusts them: if you trust them, you have no sense, it is definitional.  I always laugh when some idiot says “but 90% of economists think X is bad”.
FAIL.  They also missed the housing bubble. They lied or were “mistaken” about trade deals. Their opinion means nothing.
All this screaming about fake news is something I will take seriously when the New York Times, who helped sell the Iraq war based on “fake news” is listed as fake.
The current order has very little credibility left, and they are losing more and more.  Look at all the poll failures: somehow the polls almost always get it wrong against insurgents, not for them.
No, neoliberalism is dying, and its defenders are discredited, and both things deserve to be the case.  That does not mean its death-throes will be pleasant (they won’t be) or that what replaces it has to be better, just that it has run its course.
Those who supported it took their rewards in their time: the top tier got filthy stinking rich, the courtiers received good jobs and money, when for their victims, the good jobs and money were going away.  They will have to be satisfied with that, because posterity will be absolutely scathing to them, as it is to the generation leading up to World War I.
Lie repeatedly, fail to keep your promises, and things like Trump and Brexit will happen. It is that simple.

---Value Added Cool
Reply
#17
Neo-liberalism is the problem.

Gen X grew up believing it. The older folks fell under its spell. Millennials might not have fallen under it fully, yet.

It would be nice, speaking of things like Trump happening because of lost promises, if instead of voting for more of the same broken promises, people woke up and voted against it.

But lots of people in America are not smart, it seems; nor nice, for that matter. So yes, because of that, we get Trump.

It helps to be well-informed. People who are well-informed, tend not to make those mistakes.
"I close my eyes, and I can see a better day" -- Justin Bieber

Keep the spirit alive;
Eric M
Reply
#18
Eric The Green Wrote:Neo-liberalism is the    a problem.

Yes, and I think lots of folks are now awake, regardless of generation , that it is such.

Quote:Gen X grew up believing it. The older folks fell under its spell. Millennials might not have fallen under it fully, yet.

I guess GI's [Reagan, etc.]  came up with Neoliberalism.
Silents, as usual , passed it on or just ignored it
Boomers radicalized it. Both pro and con. Tongue

Quote:It would be nice, speaking of things like Trump happening because of lost promises, if instead of voting for more of the same broken promises, people woke up and voted against it.

But lots of people in America are not smart, it seems; nor nice, for that matter. So yes, because of that, we get Trump.


Uh,  maybe Trump was the inspiration of Coolie Monster.  See how much they talk alike.









Quote:It helps to be well-informed. People who are well-informed, tend not to make those mistakes.

Yeah, but since Trump talk pattern got incorporated into Cookie Monster, then HOW he speaks appears to be a very good way to convey knowledge to kiddies. Cool  Teach your children right and all that.


As such...
Quote:In my younger years, my mother tried to manage my expectations in the maddening way that mothers do. Whenever I was worked up at the prospect of some unwanted turn of events, she’d reliably intone: “always expect the unexpected.”
In 2016, that folksy translation of Heraclitus could have stood rather more mention than it received, particularly among the Washington establishment. That Hillary Clinton would win seemed self-evident to the ruling class, with even the most cautious of the major vote predictions—Nate Silver’s comparatively staid map at FiveThirtyEight—giving Clinton an overwhelming shot at victory.
But now Election Day is come and gone and that same elite will have to work with the most unexpected president of all, Donald J. Trump.
How that will shake out is difficult to predict, but in the meantime, there is a clear lesson here for Washington in general and the foreign-policy establishment in particular: you don’t know as much as you think you do.
This unadmitted ignorance was previously displayed for those with eyes to see it in the Libya debacle, perhaps not coincidentally Clinton’s pet war. Cast by the Obama White House as a surgical display of “smart power” that would defend human rights and foster democracy in the Muslim world, the 2011 Libyan intervention did precisely the opposite. There is credible evidence that the U.S.-led NATO campaign prolonged and exacerbated the humanitarian crisis, and far from creating a flourishing democracy, the ouster of strongman Muammar Qaddafi led to a power vacuum into which ISIS and other rival unsavories surged.
The 2011 intervention and the follow-up escalation in which we are presently entangled were both fundamentally informed by “the underlying belief that military force will produce stability and that the U.S. can reasonably predict the result of such a campaign,” as Christopher Preble has argued in a must-read Libya analysis at Politico. Both have proven resoundingly wrong.
Before Libya, Washington espoused the same false certainty in advance of intervention and nation-building Iraq and Afghanistan. The rhetoric around the former was particularly telling: we would find nuclear weapons and “be greeted as liberators,” said Vice President Dick Cheney. The whole thing would take five months or less, said Defense Secretary Donald Rumsfeld. It would be a “cakewalk.” As months dragged into years of nation-building stagnation, the ignored truth became increasingly evident: the United States cannot reshape entire countries without obscene risk and investment, and even when those costly commitments are made, success cannot be predicted with certainty.
Nearly 14 years later, with Iraq demonstrably more violent and less stable than it was before U.S. intervention, wisdom demands we reject Washington’s recycled snake oil.
Recent polls (let alone the anti-elite backlash Trump’s win represents) suggest Americans are ready to do precisely that. But a lack of public enthusiasm has never stopped Washington from hawking its fraudulent wares—this time in the form of yet-again unfounded certainty that escalating American intervention in Syria is a sure-fire solution to that beleaguered nation’s woes.
We must not let ourselves be fooled. Rather, we “should understand that we don’t need to overthrow distant governments and roll the dice on what comes after in order to keep America safe,” as Preble, reflecting on Libya, contends. “On the contrary, our track record over the last quarter-century shows that such interventions often have the opposite effect.”
And as for the political establishment, let Trump’s triumph be a constant reminder of the necessity of expecting the unexpected and proceeding with due (indeed, much overdue) prudence and restraint abroad. If Washington so grossly misunderstood the direction of its own heartland—without the muddling, as in foreign policy, of massive geographic and cultural differences—how naïve it is to believe that our government can successfully play armed puppet-master over an entire region of the world?
Bonnie Kristian is a fellow at Defense Priorities. She is a weekend editor at The Week and a columnist at Rare, and her writing has also appeared at Time, Politico, Relevant, The Hill, and other outlets.
---Value Added Cool
Reply
#19
(12-18-2016, 07:11 PM)Eric the Green Wrote: Neo-liberalism is the problem.

Gen X grew up believing it. The older folks fell under its spell. Millennials might not have fallen under it fully, yet.

It would be nice, speaking of things like Trump happening because of lost promises, if instead of voting for more of the same broken promises, people woke up and voted against it.

But lots of people in America are not smart, it seems; nor nice, for that matter. So yes, because of that, we get Trump.

It helps to be well-informed. People who are well-informed, tend not to make those mistakes.



I read Michael Lind so I never believed in neoliberalism.
"It was better with them that were slain by the sword, than with them that died with hunger, for these pined away being consumed for want of the fruits of the earth" - Lamentations 4:9
Reply
#20
(10-11-2016, 10:39 AM)X_4AD_84 Wrote:
(10-11-2016, 07:16 AM)Odin Wrote: Corporate America: "Millies aren't suckers, WAAAAAAH!!!!" Big Grin

The Millies might just save America (and the world?) from itself.

Now, here's some news to use. Big Grin

http://www.zerohedge.com/news/2017-04-19...disturbing Wrote:While the Fed's traditionally drab Beige Book described the US economy in traditional terms, growing "at a modest to moderate" pace, one relatively new development was the recurring complaint by employers that they are having an increasingly more difficult time in finding qualified and skilled workers to fill empty positions.
Quote:Labor markets remained tight, and employers in most Districts had more difficulty filling low-skilled positions, although labor demand was stronger for higher skilled workers. Modest wage increases broadened, and reports noted bigger increases for workers with skills that are in short supply. A couple of Districts reported that worker shortages and increased labor costs were restraining growth in some sectors, including manufacturing, transportation, and construction.
That said, we have difficulty finding where in the labor market data one can validate the Fed's finding that wages are growing due to rising labor pressures. If anything, the latest jobs report was a big disappointment not only in terms of overall payrolls, but also wages, with real wages continuing their slump...
[Image: 20170315_earns_0.jpg]
... prompting Morgan Stanley to caution that "wage growth is leveling off and may be slowing" and leading the suddenly reflationary Albert Edwards to ask "where is the wage growth", we want to bring attention to one amusing anecdote, which we find quite believable. 
According to the Boston Fed the qualified labor shortage is so bad, that the hit rate on hiring after a simple math and drug test, collapses below 50%. To wit:
Quote:Labor markets in the First District continued to tighten somewhat. Many employers sought to add modestly to head counts (although one manufacturer laid off about 4 percent of staff over the last year), while wage increases were modest. Some smaller retailers noted increasing labor costs, in part driven by increases in state minimum wages being implemented over a multi-year period. Restaurant contacts, particularly in heavy tourism regions, expressed concern about possible labor shortages this summer, exacerbated by an expected slowdown in granting H-2B visas. Half of contacted manufacturers were hiring, though none in large numbers; several firms said it was hard to find workers.
 
One respondent said that during a recent six-month attempt to add to staff for a new product, two-thirds of applicants for assembly line jobs were screened out before hiring via math tests and drug tests; of 400 workers hired, only 180 worked out.


1. The FED is using the wrong number for unemployment as , [Rags thinks it's an excuse to loosen immigration requirements and H1-B/H-2B applications.  IOW, I don't trust any of those numbers, but I do trust the meme that lots of use Jonesers are getting back to the garden wrt some "old friends".  I , mean look at agronomy progress , man. Cool

2. Here's the true unemployment rate, here.
It's around 9% at present.  Stupid MSM talking heads have no clue.

3. It won't matter soon, since automation/AI will destroy a lot of jobs in the years, upcoming. After all, Robots don't smoke weed or do math tests.

4. In any event, I'd like nothing more than to have drinking/drugging/bad math scores/ to fuck over Corporate America.  Idiot elites, didn't do much to fix the education system way back in the 1970's.  Well, OK, then here you go elites, another FUCK YOU, besides the Trump vote.  Eat shit and die motherfuckers.  Live by Neoliberalism, die by neoliberalism.  What comes around, goes around. Y'all blew us Jonesers off, so we're now in Middle age and we can blow y'all off via weed usage, top thrift store users.  And hey, those "Kids in the Basement", are ours, man. We don't care if our kids/nephews/nieces/and coming up, parents live in our basements. Like anything, anything to bring Ragnarök upon the Neoliberal economic order.  Yehaaah burn, baby burn, fucking Neoliberalism!

5. So anything and everything, just burn the fucker down. Nothing like a good economic collapse to crimp the Neoliberal Order.  I wrote a letter to one of our sniveling whore to Big Pharm Senators here:

Start email:


--------------------
Sen.  Whore Lankford.
1015 N. Broadway Ave., Suite 300 • Oklahoma City, OK 73102 • Phone: (405) 231-4941 • Fax: (405) 231-5051
5810 E. Skelly Dr., Suite 1000 • Tulsa, OK 74135 • Phone: (918) 581-7651 • Fax: (918) 581-6332

PRIVACY RELEASE and CONSTITUENT INFORMATION FORM
Pursuant to Public Law 93-579, the Privacy Act, I hereby authorize Senator James Lankford and/or his staff to request and receive information from the appropriate
federal agency or department in reference to my inquiry. This authorization includes written correspondence, telephonic, or any other means of communication. The
federal agency or department is authorized to furnish copies of any documents, correspondence, or information relative to my inquiry until the matter is resolved.

Briefly explain the problem and attach copies of any relevant documentation. (Use additional paper if more space is needed.)
1. You need to support the Hon. Senator Sanders in reigning in the pillaging of the USA by big Pharma.
Look, Big Pharma doesn't give a shit about me. You and your other Oklahoma colleagues need to fix all of these
drug price hikes and stop the Big Pharma Oligarchy. They are to blame for rising health insurance costs, they arfe
to blame of out of control Medicare costs, they are to blame for the death of poor Americans like me, they
are one the foci of evil in this universe. If you take campaign contributions [bribes], then you sir,are
the spawn of Satan, like those fat fuck Big Pharma CEO's. May all CEO's rot in hell. I hate , hate them. Rats
and roaches are far more worthy of the earth's biomass than CEO's. I want them all to just fucking die!
To hell with "health insurance". I want HEALTH CARE access without those greedy mother fucking health insurance
companies.
I want all of them to go bankrupt since they're nothing but a but of worthless paper shufflers. I'm watching
my entire congressional/state delegations like a hawk, and I'll vote against anyone who's bought off.
References: https://berniesanders.com/bernie-sanders...g-imports/
http://www.huffingtonpost.com/entry/cory...480e0c2b52


Has another Congressional or Senate office been contacted regarding this issue? Yes _____ No _____
If yes, please list the office: ____________________________________________________________________________
I hereby declare that I am currently a resident of the State of Oklahoma and that the information contained in this release is truthful and complete
to the best of my knowledge. *If you are signing on behalf of another, please provide a copy of your authority to do so (Power of Attorney, etc.).

Heather_Olive@lankford.senate.gov
[/quote]



And, so I've rattled one useless fuck we have in the Oklahoma delegation.  [Yeah, Eric, I write stuff to folks.]
Albeit more coarse and direct. Cool

I haven't heard back yet. I wonder if that worthless sack of shit will show up where I live and get the usual GOP
jerk off reception with constituents.  I think lots of folks nation wide hate the GOP for being such whores.
---Value Added Cool
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  The Science of Economic Crashes naf140230 13 5,025 05-02-2017, 01:59 AM
Last Post: pbrower2a

Forum Jump:


Users browsing this thread: 1 Guest(s)