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https://www.indiatimes.com/trending/...it-585475.html
this is what's wrong
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Common core
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FOX NEWS ALERT!- January jobs report of 517,000 jobs created. Much higher than the 185,000 projected by economists. Unemployment drops to 3.4%
what kind of jobs were those? Retail and restaurants?Originally Posted by El-Gonzo Jackson
meanwhile tech industry is hurting bad in 2023.
https://news.crunchbase.com/startups/tech-layoffs/
There are a lot of people struggling out there, trying to keep up with inflation with incomes that can’t help make ends meet. Least this gov should do is be honest about it.
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Give a lib a fish--he eats for a day
Teach a lib to fish--he is back the next day asking for more free fish.
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Yeah....let's cry a river for the morons running tech companies that saw a MASSIVE uptick in usage/demand while we were all stuck on our couches and decided that was permanent. Then hired a bunch of staff and saw demand for their nonsense services crater.
Who could have predicted that? The answer is anyone. Literally Anyone but the people running Facebook, Microsoft, and Google. Because their heads are so far up their own asses that they can't see daylight.
More fallout from problems created by liberal government shitheads, and made worse by bad decisions from liberal tech shitheads.
Oh well, at least the ones affected are mostly other liberal tech shitheads. Haha, so sad, they should learn to code. Oh, wait.
See you Space Cowboy ...
Elon is far from a liberal and he got caught up in the fallacy of new sustained demand for tech product(s).
The people running these big tech companies are mostly good at the tech part...but they don't understand anything about basic other stuff and watching them trip over simple things is a constant delight.
It is just a more prominent version of all the home fitness brand across the globe who thought this meant people would just use home gyms for infinity. Or the home improvement stuff. Or the dozens of other sectors that saw inflated demand and then regression to the mean
Gee....if only there was a whole history of similar things happening that could be learned from....something will bubble up...
who could’ve predicted they would shut down the economy because of a ……virus?
Tech scaled WAY up during the shutdown. Decided that global demand was permanently increased. Those demand levels turned out to be inflated by the global stay at home efforts.
Facebook in their own words: "At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth,” Zuckerberg wrote. “Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected.”
You can find similar quotes from every single one of these nincompoops.
It was a global issue as well: https://indianexpress.com/article/ex...-cold-8411690/
Remember, politicians and leadership around the world shifted to work from home and leaned on tech to do it. The leadership of tech made the mistake of thinking that would never stop. It was dumb and obvious mistake.
Tech thought a bubble was a boom. Now the bubble burst and they are left holding the bag. Welcome to basic economics.
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Byron Donalds is a ROCK STAR. He sets the trap and then pulls out receipts to their face.
https://rumble.com/v28tpp6-byron-don...22lbp&mc=56yab
Give a lib a fish--he eats for a day
Teach a lib to fish--he is back the next day asking for more free fish.
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Twitter is a garbage example, unless the argument is that they thought there was going to be a long-term demand for fact-checkers and their bullshit artist equivalents in other departments, and that Elon Musk didn't just look around on day one and say, "look at all this useless bullshit that needs to go."
What happened is that tech companies got fat with millennials who like the lifestyle and revel in networking and name-dropping, but don't really add much of value because they are mainly interested in relaxing until they get their stock options or a better job offer somewhere else. There are hundreds of thousands of these people in the Bay Area alone. Just floating around between jobs every year or two, accomplishing little of importance while collecting fat paychecks that immediately get spent on an overpriced apartment and a Tesla, and trips to wineries or ziplining in Costa Rica that are meticulously documented on Instagram.
I guess if the events of the past few years showed that all that ineffective bloat was unnecessary, that's a small silver lining. These companies are all literally saying, "we can do the same job without dragging all this dead weight around." It's not like you see Caterpillar or ConAgra dumping thousands of jobs.
See you Space Cowboy ...
hindsight is 20/20. No one knew how long this shutdown would last. Most people I know are still working from home part time. I don’t blame tech for ramping up during the shutdown. The demand was there and the duration was hard to predict.
the real travesty is the democrats trying to take credit for part time service sector jobs were you can’t make decent living. While they ignore career jobs that are lost. In addition to working with the fed to triple the money supply and cause massive inflation during the shutdown.
But we remember who was in power during all of this:
Tech got high on their own supply. They have always figured they were immune to normal economic ups and downs -- after all they move fast and break stuff.
During the pandemic places like Cummins also had record profits as oddly enough demand for generators and the things that power RVs surged. But Cummins is a rationale company that has had big ups and big downs before. They didn't panic hire a ton of extra people and then fire them when demand regressed to the mean.
There is no logic based argument where tech did not just misread the room so to speak and shoot themselves in the foot.
Another example is remember when lumber was like worth more than unobtanium? Notice how no one rushed out and opened a bunch of lumber mills? Yeah -- because that was a temporary bubble who the experienced and knowledgeable people in a centuries old business understood and navigated. Even if plywood cost me a kidney.
Tech is run by fools that mostly got lucky that the good idea fairy visited them at the right time in the 1990's and then venture capitalists threw money at them. They believe the are both necessary and central to individual life. They are not. I use a ton of tech in my daily job and if Skynet shut it all down tomorrow, I could still do my job. it would be a pain in the ass but I could still do it.
As to what kind of jobs are being created...I do not know. In my area of the world EVERYONE is hiring. And I mean everyone. If you have pulse, are not currently high on meth, and can get in the door each day, you can start working today in a career based manufacturing or trade job. Have a few qualifications in addition to the above? You can start working in a corporate setting -- right now, today.
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But we remember who was in power during all of this:
Labor force participation reached the highest point under Joe Biden, but still lags behind pre-COVID numbers from the Trump era.
Give a lib a fish--he eats for a day
Teach a lib to fish--he is back the next day asking for more free fish.
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Trump just couldn't manage the epidemic correctly.
https://hbr.org/2022/12/what-causes-inflation
What is causing inflation right now, and what caused it in 2021 and 2022?
The past year and a half of high inflation likely has roots in both supply- and demand-side factors. On the supply side, there were the shipping snarls and worker shortages caused by Covid-19, combined with the spikes in energy and food prices caused by the invasion of Ukraine. The cost of energy and shipping raised the price of lots of goods unexpectedly, and those increase then rippled through the economy.
On the demand side, many countries funneled large sums of money to households and companies during the pandemic, to ensure that they could manage lockdowns and layoffs. That increased the money supply and may have contributed to inflation. Demand for physical goods (cough, Pelotons, cough) rose dramatically during the pandemic, because consumers had money in their pockets and couldn’t spend it on restaurants or other services.
No one knows for sure exactly how much these different factors contributed. But one study by economists at the New York Federal Reserve estimated that 40% of the rise in prices in 2021 was due to supply-side factors, and 60% to demand-side factors.
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Fact Check: Biden Continues to Pass the Buck on Inflation, and Still Doesn’t Have a Plan
Speaking at the Port of Los Angeles after a dismal inflation report showing the worst price increases since December 1981, President Biden rehashed the same old deflections and debunked myths. Here’s a quick fact check on the President’s top three misleading claims during his latest hyper-partisan press conference:
Claim: The job market is the strongest it has been since World War II.
Fact: Dems Waged War on Work. Although there are nearly two job openings for every job seeker, Main Street continues to struggle to hire workers, and have lost jobs for three out of four months. Now the President is still 822,000 jobs short of pre-pandemic levels.
In January, ADP economist Nela Richardson warned that “all the jobs that we have seen gained are recovered jobs that were lost. We are not yet producing new jobs.”
A majority of small businesses fear Biden-Flation will close down their business.
A report from the St. Louis Fed found that had states across the country ended Democrats’ lavish unemployment bonuses early, employment would have increased by 1.6 million jobs.
In the first quarter of 2022, the economy shrunk, after falling short of projections four out of the last five quarters.
President Biden’s economic policies have been so disastrous and inflationary, that since March of 2022, nearly 40 economists have raised concerns about a looming recession.
Claim: Price increases are due to the War in Ukraine and corporate greed, not Democrats’ policies.
Fact: Inflation has increased since the day President Biden took office in January 2021, and began its rise to the fastest rate in 40-years directly after Democrats rammed through their partisan $2 trillion so-called COVID stimulus.
According to the San Francisco Fed, not only did Democrats’ spending increase inflation, it’s why the U.S. has higher inflation than most developed nations.
Democrats ignored the inflation warnings from former Obama-Biden Administration officials, including former Director of the National Economic Council Larry Summers, former “Auto Czar” Steven Rattner, and former Chairman of the Council of Economic Advisers Jason Furman. (In fact, Furman attributes at least 2.5 percent of current inflationary pressure to the massive bill.)
During a Senate Finance Committee hearing, Treasury Secretary Janet Yellen “pushed back on the notion that the country’s crippling inflation is being caused by corporations trying to rake in profits.” As the Washington Examiner reported:
“Yellen, who previously served as chairwoman of the Federal Reserve, was asked whether corporate greed is the key cause of inflation during a New York Times event… ‘Demand and supply is largely driving inflation,’ Yellen said, adding that while price-to-cost margins have increased, that is not what is pushing prices to their highest levels in 40 years.”
Claim: Democrats want to reduce the price of prescription drugs and health care, while protecting Medicare.
Facts:
President Biden’s own policies push Medicare towards insolvency: Without changes, working Americans could face a hike in Medicare payroll taxes by 26 percent or seniors could see their benefits cut by 16 percent to make the program solvent. He also seeks new services with no reforms to save this important program from going broke and failing 62 million beneficiaries as well as those near retirement.
President Biden is targeting the popular Medicare Advantage program: Despite Medicare Advantage’s (MA) growing popularity, the Biden Administration targets this program in an effort to move us backwards towards a socialist single-payer model that will limit patient choice and increase costs.
REMINDER: A new report from the Centers for Medicare and Medicaid Services (CMS) shows that enrollment in the MA program has grown across the board, with more seniors choosing privately-run, innovative options every year.
President Biden’s prescription drug plan kills future cures: President Biden’s plan for government price controls on drugs will lead to fewer cures, with as many as 342 fewer drugs entering the U.S. market over the next decade. He already established a dangerous precedent that empowers partisan executive branch officials to discourage investment in FDA-approved drugs and devices by limiting Medicare coverage.
https://waysandmeans.house.gov/fact-...t-have-a-plan/
Give a lib a fish--he eats for a day
Teach a lib to fish--he is back the next day asking for more free fish.
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Of course they want us to believe Putin or the lockdown caused 18 percent inflation (40 percent for food). They don’t want us to focus on the real culprit - unrelenting money printing
https://fee.org/articles/kevin-o-lea...-would-happen/
Working from home, webex meetings, all that stuff went through the roof during the shutdown. Maybe the tech companies were overzealous or maybe they were fed misleading information. We don’t know, we were not in the board meetings. I do know that infrastructure construction has slowed in my area. And engineering companies are hurting. And I know more and more people are getting laid off. As for your area, sounds good (I assume your talking manufacturing not fedex or Walmart jobs) maybe there’s a little surge in your area but nationwide the manufacturing PMI is at a 30 or 40 year low…manufacturing is contracting at it fastest pace ever - look it up
The leadership of every major tech company I can think of has written letters and made statements to their boards that they dropped the ball and totally misread the nature of the demand and its sustainability. They are all not very good at the economics side of this.
Around here....business is booming as AB would say.
From everything I have seen and read is that far too many companies tried to grab a massive bite of the pandemic apple and over-produced. Then the supply chain snarled and finally broke. PMI has declined late 2022 and early 2023 as everyone focused on clearing out existing inventory. Measures of business confidence have all ticked up as most expect this to be the trough. But what do they know? No idea.
Then everything gets complicated because many Asian markets which is where many of those manufacturing exports go - are still closed as they struggle to come out of the pandemic.
Yeah, sure, what does the Harvard Business School Review know about any of this, after all it's all Biden's fault.
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You are absolutely right!!!!!
Give a lib a fish--he eats for a day
Teach a lib to fish--he is back the next day asking for more free fish.
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In my opinion,
What's wrong with this country is oretty simple.
- All or nothing thinking (My side is right, theirs is wrong. Always).
- Discussion means pushing talking points rather than interaction and learning from one another.
- Dearly held beliefs are held only for four or eight years. Once the other party's president does it, it's absolutely wrong.
- No longer have the ability to be civil in disagreements.
We are heading for a civil war, and sadly, neither side seems to care. We are Rome in its last days.
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