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Lowest “Who is hiring?” Post Count in 30 Months

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Re: Lowest “Who is hiring?” Post Count in 30 Months

#291

Post by pbz »

prottog wrote: post #210
pbz wrote: post #101

Earlier quoted context omitted.

It's the only way we know of to stop greed/fomo running rampant. Folks need to be put in a time-out to cool off and force them to reprioritize. We like to think of the market as this calculated and rational entity. It's far from that, in fact it's closer to the opposite of that. The other option is to do price control, but that won't fly in capitalism.

> to do price control, but that won't fly in capitalism Price control doesn't fly in any economic system. Putting a legal floor or ceiling on the price anything doesn't affect what it actually costs to produce it.

That depends on how authoritarian the regime is... However, I was talking about putting a price control over the level/amount of profit. If you look at the financial reports of late you'd see record profits during record inflation.

Re: Lowest “Who is hiring?” Post Count in 30 Months

#292

Post by speakfreely »

citilife wrote: post #52
battery_glasses wrote: post #38

Earlier quoted context omitted.

This could be considered a good thing. The whole point of increasing interest rates is to lower business investment and consumer purchasing power, which is what we need to do to combat inflation (or magically fix all supply chain issues.)

> This could be considered a good thing. Lower wages, lower job mobility, asset deflation, consumable inflation -- YAY! ...

Asset deflation is a good thing for wage earners. Inflation is the worst possible thing for anyone who works for their money, as it means the wealth of the people who own assets (think 8-9 figure business portfolios, not a single residence) is skyrocketing away from the middle class in both relative and absolute terms.

Re: Lowest “Who is hiring?” Post Count in 30 Months

#293

Post by speakfreely »

NaturalPhallacy wrote: post #110
citilife wrote: post #52

Earlier quoted context omitted.

> This could be considered a good thing. Lower wages, lower job mobility, asset deflation, consumable inflation -- YAY! ...

Not to mention the greatest wealth transfer in history from the poor to the rich: https://www.newsweek.com/were-living-through-greatest-transf...

Inflation is dumping rocket fuel on that fire. There's a reason that they're fighting inflation with disregard for other consequences: the resulting inequality of continued unchecked inflation is a legitimate threat to the stability of our social system.

Re: Lowest “Who is hiring?” Post Count in 30 Months

#294

Post by speakfreely »

battery_glasses wrote: post #237
pbz wrote: post #101

Earlier quoted context omitted.

It's the only way we know of to stop greed/fomo running rampant. Folks need to be put in a time-out to cool off and force them to reprioritize. We like to think of the market as this calculated and rational entity. It's far from that, in fact it's closer to the opposite of that. The other option is to do price control, but that won't fly in capitalism.

I wouldn't say its the only way we know, rather its the only politically feasible move. Increasing taxes on the wealthy would arguably be a more effective way to take money out of the economy and wouldn't hurt non-wealthy people as bad, but good luck getting that through congress. The only party that can act right now is the Fed, and the only move the Fed has in increasing interest rates.

The problem is that there's no proven good way to increase taxes on the wealthy. There's two flawed approaches: (1) increase income taxes, which doesn't tax the people who control the majority of the country's wealth, and (2) wealth taxes, which no country has ever figured out how to implement effectively.

Re: Lowest “Who is hiring?” Post Count in 30 Months

#295

Post by b20000 »

bullen wrote: post #238
danrocks wrote: post #162

Earlier quoted context omitted.

Why is that a worrying sign?

Because if you live elsewhere the positions are not available?

remote just means that you can work from home. you still need to be geographically close to the office.

Re: Lowest “Who is hiring?” Post Count in 30 Months

#296

Post by lkrubner »

willcipriano wrote: post #285
lkrubner wrote: post #284

Earlier quoted context omitted.

The ancient Greeks did not define a recession as two quarters of negative growth— that has never been the definition of a recession, even if you go back several thousand years.

So how do we know they had a recession? If the definition its only a recession if NBER says so you would have to assert that they did not. Have historians have been disseminating Russian disinformation for centuries?

Before 1800, and especially before 1500, the monetary economy was so small, and the barter economy was so large, that these economies did not have recessions as we understand them today. A modern recession, as we've understood them for the last 200 years, can only exist in a society that has largely converted all economic activity to the monetary economy, and thereby made it vulnerable to the money cycle. If you're interested in the emergence and development of the monetary economy the best books ever written on the topic are Fernand Braudel's history:

https://www.amazon.com/Civilization-Capitalism-15th-18th-Cen...

https://www.amazon.com/Wheels-Commerce-Civilization-Capitali...

https://www.amazon.com/Perspective-World-Civilization-Capita...

I strongly recommend these books.

If you're interest is more about the classical Western period, I recommend:

https://www.amazon.com/Ancient-Economy-Sather-Classical-Lect...

Re: Lowest “Who is hiring?” Post Count in 30 Months

#298

Post by rvbissell »

godelski wrote: post #282
rvbissell wrote: post #77

Earlier quoted context omitted.

Why do you say that softening demand will cause prices to go up? That sounds contrary to every economics lesson I've ever had.

Nuance matters. In this case people start saving but also EXPECT prices to increase. So prices are able to increase under that speculation. Sellers can then demand higher prices while demand decreases. [0] discusses self-fulfilling oil price increases due to speculation of oil price increases. This is more what I was pointing at but conveyed (extremely) poorly. There's also the matter that people treat econ 101 as fa…

I have no quarrel with your second paragraph.

As to your first: if people expect prices to increase tomorrow, they don't save today; they spend today, to lock in value prior to inflation. And even if people actually did as you claim and saved funds today despite their expectations of higher prices tomorrow, guess what: seller's can't eat expectations. They need actual sales. And in your scenario, the people aren't buying.

Re: Lowest “Who is hiring?” Post Count in 30 Months

#299

Post by dbmnt »

pcorsaro wrote: post #290
defterGoose wrote: post #277

Earlier quoted context omitted.

>There's a schism being created in this world with the work from home crowd being one side, and the warehouse/foodservice crowd on the other side. Totally agree, and it's good to know that anyone besides myself sees it. For me personally, I'm educated and know I have the skills to be on that first side of the divide, but it makes me feel very nervous/sad, because I know a lot of the stuff going on at the lower-wage e…

> I complain about everyone expecting a tip on their POS terminals and prices constantly rising, but in the spirit of my above point, they probably deserve it. This is also a huge complaint of mine in specific situations. If I go to an NBA game or concert, buy a beer for $12, and the POS has a tip thing, I want to scream. I want to scream at the vending group to just pay the people more money. The profit margin on th…

Sorry, but you gotta tip in those scenarios. You have correctly identified the problem, and you know it isn't the workers' fault. Still, they aren't getting paid enough. It shouldn't be our job to spread money around evenly, but here we are. You can afford the game, you can afford the beer, you can afford to tip them.

Re: Lowest “Who is hiring?” Post Count in 30 Months

#300

Post by pc86 »

pcorsaro wrote: post #290
defterGoose wrote: post #277

Earlier quoted context omitted.

>There's a schism being created in this world with the work from home crowd being one side, and the warehouse/foodservice crowd on the other side. Totally agree, and it's good to know that anyone besides myself sees it. For me personally, I'm educated and know I have the skills to be on that first side of the divide, but it makes me feel very nervous/sad, because I know a lot of the stuff going on at the lower-wage e…

> I complain about everyone expecting a tip on their POS terminals and prices constantly rising, but in the spirit of my above point, they probably deserve it. This is also a huge complaint of mine in specific situations. If I go to an NBA game or concert, buy a beer for $12, and the POS has a tip thing, I want to scream. I want to scream at the vending group to just pay the people more money. The profit margin on th…

There's no reason to believe that the workers there aren't making $15 or $20/hr. Sure, they might be minimum wage, but there are fast food places by me advertising $25/hr for first shift workers and they can't find anyone. The stadiums in the nearest city are fully staffed, so it's unlikely they're getting minimum wage.

It's certainly likely, bordering on probable, that a lot of the people getting tips now that didn't get tips 4-5 years ago are making good money without tips and that's just extra.

For a specific example, I go to a local Subway every now and then, and they advertise hiring at $18/hr to start, more for part time, less desirable shifts, etc. Their POS lets you tip 18%, 20%, 25%, or "Skip" ($0) unless you do custom. I obviously don't know their revenue but they've been in business years while others in the same shopping center have come and gone, so they've got to be doing decent volume. There's no reason to think they're not getting several dollars and hour (e.g. several thousand dollars a year) in tips beyond their salary. It's not because they're underpaid, it's because people will tip if you make that the default.

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