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The Great Resignation? More Like the Great Renegotiation

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Re: The Great Resignation? More Like the Great Renegotiation

#441

Post by howmayiannoyyou »

thebean11 wrote: post #226
howmayiannoyyou wrote: post #132

Earlier quoted context omitted.

> I figured the pandemic cleared out most of the small businesses that would have failed within five years anyway PPP and SBA loans kept these companies alive. The bill hasn't come due yet. This is what people don't understand.

Aren't PPP loans fully forgivable if you met certain requirements? There shouldn't be any bill for most businesses.

No, the point is the PPP money kept uncompetitive businesses alive that should have failed. The bill that hasn't come due: their failures.

Re: The Great Resignation? More Like the Great Renegotiation

#442

Post by rustybelt »

fundad wrote: post #225
dkarl wrote: post #69

Earlier quoted context omitted.

Anecdotally from talking to a lot of people who are hiring, people who accept the going rates for work are having no problem hiring. People who are shocked at what workers can ask for right now and try to resist the change are having very little success hiring, whether it's software engineers or subcontractors or lab assistants. With service workers, resistance to paying what it takes has a compounding effect, becaus…

Demand for better pay and conditions has been bubbling for a long time, the Fight for Fifteen has been going on since $15/hr was a livable wage and then the mass layoffs of 2020 radicalized workers. And business owners are pissed. Bernie Sanders ran 2 presidential campaigns and got a lot of airtime for worker power. And layoffs screw people over for short-term gain and then incur more costs when staffing up again. It…

Anecdotally, the 2020 pandemic response by employers has had an huge impact on employee attitudes and loyalty. I work in healthcare and my employer made the very poor choice to do layoffs and furloughs in the summer of 2020 due to depressed demand before COVID surged in our area. This soured the relationship with staff just as we were about to get hit hard that fall and we've struggled to keep up ever since.

Re: The Great Resignation? More Like the Great Renegotiation

#443

Post by howmayiannoyyou »

wonderwonder wrote: post #378
Consultant32452 wrote: post #192

Earlier quoted context omitted.

The Fed cannot raise interest rates so high that the federal government becomes unable to afford the interest on the debt. I can't predict exactly what is going to happen, but serious shenanigans are a certainty.

on a positive note though the IRS now requires that all deposits of $600 or more are reported by the banks ensuring that people like servers and small business owners pay their proper share of taxes. So that should help the government pay the debt. We cant have the poor continuing to not pay their taxes and the rich are too expensive to audit. /s Or at least that's the message I am taking from the current administrat…

> So that should help the government pay the debt.

Hahahaha. Hilarious that anyone thinks that debt will be paid down significantly, let alone in full. Pro tip: US debt is here to stay and will get worse long before it gets better - if ever.

Re: The Great Resignation? More Like the Great Renegotiation

#444

Post by mywittyname »

buscoquadnary wrote: post #395
sleepingadmin wrote: post #262

Why is the central bank inflation target typically 2%? Well if you target 0% and any actual result below 0% happens, that's deflation which is a disaster for economies. If inflation is say 10%. Maximum employment is near certainly impossible. Debt will be expensive and the economy crawls to a halt. Who wants to pay 10% interest on their student debt? So where in between do you have a good price stability? It tends to…

I keep hearing that people in debt win when inflation goes up but the problem is you only win if you have assets that already appreciate in value or access to large amounts of capital to purchase assets that are inflation resistant. Simple example Tim is a manager at Lowe's Tim makes $66,000, each year. Tim spends most of that money on the necessities of life, a car payment a house payment if he is lucky, a rent if h…

Look up the average house price in your area in 2000. Now imagine you were 20 years into a 30 year mortgage. That's a pretty nice house payment, eh? Realistically, it would be even lower because you would have been a fool not to refinance as interest rates plummeted.

This is one way that people with debt "win" due to inflation.

Yeah, rich people benefit more. But that's always been the case. In a deflationary situation, rich people can take dividends from their investments, rather than selling at a discount. While that might be less than they'd normally get, it's much nicer than how wage workers have to work in fear of losing their jobs and having their income go to $0.

Re: The Great Resignation? More Like the Great Renegotiation

#445

Post by thebean11 »

howmayiannoyyou wrote: post #441
thebean11 wrote: post #226

Earlier quoted context omitted.

Aren't PPP loans fully forgivable if you met certain requirements? There shouldn't be any bill for most businesses.

No, the point is the PPP money kept uncompetitive businesses alive that should have failed. The bill that hasn't come due: their failures.

So not a literal bill, got it

Re: The Great Resignation? More Like the Great Renegotiation

#446

Post by mockingbirdy »

standardUser wrote: post #420
dboreham wrote: post #410

Earlier quoted context omitted.

Because everyone was given free money which they spent on things, driving prices up.

Money supply has not been shown to increase inflation in recent decades. Supply chain issues have.

Would love to read more about this because my understanding is that the increase in M2 money supply is a big part of the current inflation (very simplified - it's way more complex when looking at money velocity and supply chains in general).

Re: The Great Resignation? More Like the Great Renegotiation

#447

Post by CountDrewku »

thesuitonym wrote: post #383
CountDrewku wrote: post #359

Earlier quoted context omitted.

>When I say I'm anti-work, I mean exactly that: People should not have to work to live. What you hear is: "Nobody should ever do any work." That's not what anyone is saying. We're saying that people should be free to do work that is fulfilling and necessary, not busy-work created to keep the 40 hour work-week. Sorry but this has to be the dumbest most elitist sheltered things I've heard. You ARE free to do what you w…

My idea is that I should be able to be a teacher, because that is what I want to do. I cannot be a teacher, because where I live, teachers do not get paid enough to live unless they have a spouse who is bringing in very good money. If I didn't have to work to live, I could pursue that dream.

Sounds like you need to move to a lower col area, figure out your finances, or change your standards then. My wife is a teacher and I make pretty close to what she does. We own a house, we don't have any loans, we make a perfectly adequate living that allows us to do almost everything we want to do. Teachers are not living in squalor. They get very good retirements and plentiful time off for family.

The solution to your problem is not force a certain section of the population to work and give their salary to you so you get to "pursue your dream". Why do you get to do what you want while others are forced to keep your power on and your sewer system working daily?

Decisions have consequences, if you want something then you will need to sacrifice in certain areas.

Re: The Great Resignation? More Like the Great Renegotiation

#448

Post by azth »

standardUser wrote: post #420
dboreham wrote: post #410

Earlier quoted context omitted.

Because everyone was given free money which they spent on things, driving prices up.

Money supply has not been shown to increase inflation in recent decades. Supply chain issues have.

The last year proves this wrong.

Re: The Great Resignation? More Like the Great Renegotiation

#449

Post by azth »

mockingbirdy wrote: post #446
standardUser wrote: post #420

Earlier quoted context omitted.

Money supply has not been shown to increase inflation in recent decades. Supply chain issues have.

Would love to read more about this because my understanding is that the increase in M2 money supply is a big part of the current inflation (very simplified - it's way more complex when looking at money velocity and supply chains in general).

Exactly. It's obvious how printing money out of thin air induces inflation.

Re: The Great Resignation? More Like the Great Renegotiation

#450

Post by elif »

elif wrote: post #367
whatshisface wrote: post #356

Earlier quoted context omitted.

Nor is it good for the economy (see: Korea, Vietnam, Iraq, Afganistan, Iraq...).

that depends on which metrics you care about.

for instance, this chart, of USD as global foreign reserve %

You can clearly see the demand induce correlated with vietnam, gulf war, 9/11 invasion

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iun0_jAGaJM...

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