Yeah, agreed, that should bring it more in line with the Buffett Indicator, although then you have to adjust GDP for that one.
Bottom line is what I’ve been screeching about for months/years ITT. The market was priced like zero interest was permanent, economic growth would continue without a bump in the road forever, and COVID never happened and caused no economic problems. Obviously none of that was true, and obviously (since like January) either inflation was going to cut into earnings or rates were going up, or both.
Hopefully the market over corrects to the other side now.
They want an excuse to say “Sorry for the shitty service; we’re shorthanded”. They want this shorthanded to be the new norm.
If they REALLY NEEDED extra workers, they would not have signs up with the same wage for the same position for months.
It’s like when there’s a shitty housing market, but the person really needs to sell the house, what do they do? Lower the price to entice a buyer. Same thing here.
this isn’t true where I’m at, it’s simply nobody who normally would fill that job is applying for it (ie high school or college kids) but I’m small town where if there’s a sign like that, it’s because they need someone to fill it period
I agree (now do finance too) and the end of endless free money to fund tech should help squeeze out the excess. But then, yeah I have a hard time squaring this with some of the oh this wont be a bad recession for ordinary people takes as thats gonna do a good number on the consumer, ripple through to state budgets, create a negative feedback loop, all the fun stuff we see in recessions.
Have almost no faith in the Feds helping the cause with fiscal stimmy either any time soon post midterms. I dont know the exact rules for reconciliation for 2023, but they might wanna prep to have a recession aid package teed up for the lame duck that they can jam through if they lose the House (I know Sinema and Manchin lol me lol USA)
Sure feels like we would be better off if the Trump tax cuts of 2018 or whatever had never happened—would be nice to have that arrow in the quiver now!
Also, wasn’t Trump openly criticizing the Fed circa 2019 to keep interest rates as low as possible?
I’m not an economist but in retrospect it seems silly to basically be open throttle fiscal and monetary stimulus before Covid.
For a lot of the ZIRP era we were pretty tight on fiscal policy (think the grand bargain period) and the Fed was screaming for help from Congress so that just ZIRP didnt have to do all the heavy lifting of financial crisis recovery.
I haven’t noticed bad service at all, but I always use self checkout and usually shop when it’s not busy (mid-afternoon or right before they close).
They have actually dropped the offer, it used to be $15/hr plus a $500 signing bonus. But I think the manager went from $20/hr to $22/hr.
It seems possible they are currently giving people f/t hours and would prefer to bring more people in and cut all their hours to keep everyone below the threshold for benefits.
Put me down for ‘no additional taxes for me until everyone who makes more money than me pays at least as much as me in taxes’. Sorry but the upper middle class in the US does not live in a low tax country when you factor in things like the cost of healthcare.
The issue is that the people who own this country aren’t paying for it and that has to stop.
Agreed but there is zero chance of raising federal taxes on the wealthy anytime soon. The upper middle class will pay for any social programs instituted, AND those programs will have hefty giveaways to those wealthier than them.
Socialism for the wealthy, bootstrapping for the poor and middle class, and the upper middle class subsidizes the wealthy.
You haven’t truly made it in America until the people less rich than you are paying taxes that benefit you.