November 10, 20213 yr 1 hour ago, mr_hunt said: somewhat related....morning mika was trying to get mayor pete to answer a question this morning...why is it that people just don't want to work? nearly every small business...restaurant...gas station...etc...is low on staff & trying to fill openings but people just don't want to work. pete was trying to give the company line answer...saying it's partly due to lack of child care...but the new infrastructure bill addresses that...blah, blah, blah. mika wasn't really having it & kept asking but got a bunch of non answers. what say you, cvon? why don't people want to work? the covid checks & extra unemployment $$ were originally cited as the reason...but i believe all that has stopped. correct me if i'm wrong there. seems like many are just choosing not to work right now. is it as simple as the wages being too low? why it be? My guess is because people saved a lot of money during the pandemic. Couldn't go on vacation, didn't go out to eat as much, no reason to buy new cars, clothes, jewelry, etc when you've been staying home all the time. Forced austerity coupled with the free money being handed out, and now suddenly there was a surplus in the average american's budget that was previously conditioned to living paycheck to paycheck. This all resulted in less motivation to earn among the lower wage earning segments. I don't think this effect on labor shortages, if true, is likely to remain once we climb out of the pandemic. We are a consumer based economy and daddy needs his fix soon. TL/DR: The free money hasn't run out yet, but it will soon and things will eventually normalize.
November 10, 20213 yr 54 minutes ago, mr_hunt said: exactly...that $$ has to run out soon & i'd assume those folks have bills to pay. The problem is, until it literally runs out and they start to fall behind on bills, these people won't know it. They're not planning that far ahead.
November 10, 20213 yr Student loan payments will resume in January, so that will have an effect as well.
November 10, 20213 yr I wonder what effect youngish people (18-30 year olds) living at home with their parents forever and not starting families as early has on the job market. A lot of these people who, before when housing and adult life was more affordable, would have families and mortgages now have really limited debt or possessions besides student loans so they aren't really forced into the labor force.
November 10, 20213 yr I-bonds just got rated at 7% for the next 6 months. Comes with caveats, but an option to look into if you've got $10-20k just sitting in a high yield account getting 2% or less.
November 10, 20213 yr 3 hours ago, we_gotta_believe said: My guess is because people saved a lot of money during the pandemic. Couldn't go on vacation, didn't go out to eat as much, no reason to buy new cars, clothes, jewelry, etc when you've been staying home all the time. Forced austerity coupled with the free money being handed out, and now suddenly there was a surplus in the average american's budget that was previously conditioned to living paycheck to paycheck. This all resulted in less motivation to earn among the lower wage earning segments. I don't think this effect on labor shortages, if true, is likely to remain once we climb out of the pandemic. We are a consumer based economy and daddy needs his fix soon. TL/DR: The free money hasn't run out yet, but it will soon and things will eventually normalize. This, 1000% this.
November 10, 20213 yr For so many Americans to be this lazy, financially irresponsible and entitled is disgusting. Then they b---- and moan about the wealthy, their student loans, Covid, child care and anything else they can blame on how lousy their lives are.....Instead of working their a--- off, being responsible, being prudent and trying to achieve financial stability and security. Just STFU and do what Vikas83 says.......be less poor.....it sure makes life more enjoyable.
November 10, 20213 yr 4 hours ago, we_gotta_believe said: I-bonds just got rated at 7% for the next 6 months. Comes with caveats, but an option to look into if you've got $10-20k just sitting in a high yield account getting 2% or less. What is this? And why are the rates so much higher than the prevailing rates?
November 11, 20213 yr 2 hours ago, Blazehound said: What is this? And why are the rates so much higher than the prevailing rates? Bonds that are pegged to the cpi-u and reassessed biannually. Must be held for a minimum of 12 months before redemption and max you can buy is $10k per calendar year. Risk free option (can't lose principal) if you're trying to hedge against inflation. https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm
November 11, 20213 yr 1 hour ago, we_gotta_believe said: Bonds that are pegged to the cpi-u and reassessed biannually. Must be held for a minimum of 12 months before redemption and max you can buy is $10k per calendar year. Risk free option (can't lose principal) if you're trying to hedge against inflation. https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm I’ve heard of TIPS to hedge inflation but never I-Bonds. Seems like a pretty square deal for those who have idle cash sitting in savings accounts earning half a percent. Thanks for the tip.
November 11, 20213 yr 20 hours ago, mr_hunt said: somewhat related....morning mika was trying to get mayor pete to answer a question this morning...why is it that people just don't want to work? nearly every small business...restaurant...gas station...etc...is low on staff & trying to fill openings but people just don't want to work. pete was trying to give the company line answer...saying it's partly due to lack of child care...but the new infrastructure bill addresses that...blah, blah, blah. mika wasn't really having it & kept asking but got a bunch of non answers. what say you, cvon? why don't people want to work? the covid checks & extra unemployment $$ were originally cited as the reason...but i believe all that has stopped. correct me if i'm wrong there. seems like many are just choosing not to work right now. is it as simple as the wages being too low? why it be? Oddly enough there doesn’t seem to be a shortage of workers for good paying jobs with benefits.
November 11, 20213 yr 1 hour ago, JohnSnowsHair said: Does the rate of the I-bond stay the same as long as you hold it? Reassessed every 6 months. Current rate is guaranteed for the first 6 months, then you'll get the new rate (reassessed in May) for the next 6 months, and so on. But the rate can never go below zero, so your APY is guaranteed to be at least 3.5% even in the highly unlikely event that we hit deflation starting tomorrow. One other caveat is you forfeit the last 3 months of interest if you redeem before 5 years, but with a rate this high, even redemption right at 12 months still beats any other zero risk investment instrument available.
November 11, 20213 yr 50 minutes ago, Dave Moss said: Oddly enough there doesn’t seem to be a shortage of workers for good paying jobs with benefits. If only the whiners were worth a good paying job with benefits.
November 11, 20213 yr 2 hours ago, TEW said: If only the whiners were worth a good paying job with benefits. I mean, the tech industry says hello. Oh, and they are still desperately trying to hire. What a ridiculous assertion.
November 11, 20213 yr I wonder about people like TEW and TJ who look down upon the rest of humanity with such abject disgust. Are you really such shallow, weak people?
November 11, 20213 yr 12 minutes ago, vikas83 said: I mean, the tech industry says hello. Oh, and they are still desperately trying to hire. What a ridiculous assertion. You want workers? Pay them more. I guarantee you’ll get more job applications.
November 11, 20213 yr 17 minutes ago, Dave Moss said: You want workers? Pay them more. I guarantee you’ll get more job applications. Uh...tech jobs pay great. Unfortunately, there aren't enough qualified workers because morons major in competitive religious studies. Said another way -- you want better wages, get a useful skill that is in demand.
November 11, 20213 yr 3 hours ago, Dave Moss said: Oddly enough there doesn’t seem to be a shortage of workers for good paying jobs with benefits. too bad those require actual marketable skills
November 11, 20213 yr 1 minute ago, vikas83 said: Uh...tech jobs pay great. Unfortunately, there aren't enough qualified workers because morons major in competitive religious studies. Said another way -- you want better wages, get a useful skill that is in demand. Contrariwise, if we want these menial jobs filled, and people won't do it for peanuts anymore, you're going to have to raises wages. Of course this is passed onto the consumer, but c'est a vie. I think COVID caused a lot of people working crap jobs for crap pay, getting **** upon by a-hole customers, to say "F it."
November 11, 20213 yr 30 minutes ago, Toastrel said: I wonder about people like TEW and TJ who look down upon the rest of humanity with such abject disgust. Are you really such shallow, weak people? no its called leadership experience. skeptical to cynical? fair. shallow and weak? nah that's the whiners. 21 minutes ago, Dave Moss said: You want workers? Pay them more. I guarantee you’ll get more job applications. why would i want to overpay for unskilled, entitled losers? better to invest in automation/tech.
November 11, 20213 yr 3 minutes ago, Toastrel said: Contrariwise, if we want these menial jobs filled, and people won't do it for peanuts anymore, you're going to have to raises wages. Of course this is passed onto the consumer, but c'est a vie. I think COVID caused a lot of people working crap jobs for crap pay, getting **** upon by a-hole customers, to say "F it." i dont disagree, but the market can wait them out while they go broke...
November 11, 20213 yr 2 minutes ago, Toastrel said: Contrariwise, if we want these menial jobs filled, and people won't do it for peanuts anymore, you're going to have to raises wages. Of course this is passed onto the consumer, but c'est a vie. I think COVID caused a lot of people working crap jobs for crap pay, getting **** upon by a-hole customers, to say "F it." We are one of the largest owners of a national restaurant chain. We raised wages to re-staff after the pandemic and raised prices to offset. But...we also have started rolling out app and tablet ordering, allowing us to hire significantly less staff. That's the end result of all of this.
November 11, 20213 yr 2 minutes ago, vikas83 said: We are one of the largest owners of a national restaurant chain. We raised wages to re-staff after the pandemic and raised prices to offset. But...we also have started rolling out app and tablet ordering, allowing us to hire significantly less staff. That's the end result of all of this. yup its not that you raise pay to fill the menial job. you eliminate them.
November 11, 20213 yr 5 minutes ago, ToastJenkins said: yup its not that you raise pay to fill the menial job. you eliminate them. Honestly, it's a double win for us. Keep the price increases and reduce labor costs. The food price inflation has been a problem though.
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