Local "shop and rob" across from one of our paper mills paid more for night shift clerk than the paper mill starting wage. Eye opening.
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Recession - 2022 / 2023 / 2024
- Thread starter Hobo Hilton
- Start date
I agree....... Many of these "unskilled" open positions are for someone to clean up after the lazy American's.
4 million + / - illegals came to America to "DO THE JOBS AMERICANS REFUSED TO DO"........
Where are they ?
These openings need to be filled.
By mid 2023 those knocking down that 6 figure income will be just as broke as the dishwasher. Broke is Broke....
Attachments
Right now, all those non-working people are making more money than the dishwasher.
A lot of people feel that way. I'm not sure what the answer is, the past 2 years have shown us that we need people working in the food industry and that people have no desire to fill these positions since the covid handouts. I hardly eat out now because fast food became a 30 minute trip through the drive through for shitty food. Short staff at restaurants means shit service, mediocre food and still end up with an expensive ass meal.
Get a slow cooker a rice cooker and this book............. Cheaper than fast food or a wife.
Yeah, I don't have the answer either. We were all told that our outsourced factory jobs would get replaced with service jobs, but it turns out that this was mostly 23 hours a week at $7.50/hr greeting customers at Applebee's. So now we've got single parents trying to scrape by working two or three of these jobs, all while paying $4.50/gal for fuel and $1000/yr for car insurance. And yep, the service and product sucks at many restaurants nowadays, which is one reason that we've cut way back on eating out.
I still don't see a reason to scorn those trying to make a living doing jobs and providing services that many people feel entitled to receive. I worked those jobs to put myself through school (as did virtually every successful person that I know), and I won't tolerate disrespect of someone who is trying to earn an honest living by bussing dishes, cleaning bathrooms, mopping floors, and all the other chores we don't expect to do for ourselves.
You have spotted the "tip of the iceberg"... Check back in 12 months with an updated chart. Will make for good conversation.
You know, I noticed in December last year that I got an across the board credit limit increase. Thought is was odd.
Now I wonder if it happened to everyone.
I semi-retired at 53yo when the mandatory masks and covid tests were widespread among employers. I'll go back to work when private industry stops supporting the covid scare tactics of the government. Complying with this crap just brings on more of it.
If the majority of working folks were smart enough to have a few years of emergency funds stashed away, they could all have given the covid mandating employers the finger and sat out of the economy until things returned to normal, because it would have to.......
When enough pilots at Southwest Airlines were going to sit out over mandates, everyone saw how quickly upper management changed their minds about the vax mandates.
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I don't know about that. I started working at $2.50/ hr when I was 11 at a marina , among other things, washing dishes. That was 1992
We control the narrative! But we won’t!
that is a painful truth. Spent 20 minutes at a local Whataburger before driving off in frustration. 2 rows of 3 cars ahead of me sandwiched in. Would have bailed after the first 5 minutes, but couldn't get an opening. I keep knocking them off my list of places to go, but I now have more no go areas than go to spots.
Surely some of these places are going shutter with service at this level. Normally I would just grill at home and call it good, but even that is getting pricier. 100 dollar brisket, 1.50 squash, butter double or 3x what it was prior to covid. Things are getting out of hand.
Two dozen eggs two loaves of bread 2 pounds of bacon and a pound of butter will keep a guy fed for a long time.
You have opened the door to discuss a few topics.
I have been canning different things. Also putting a few home made heat and eat meals in my freezer. "Portions" for me are a challenge. If I eat before I get really hungry, one pint is a meal that will keep me going for a while, as in 1 pint Mason jar with half beef and half with potatoes in a heavy sauce. Just doing some homework in case I have to ration my food stores. Normally I can not eat an entire 1 quart Mason jar filled with meat and spuds and would have to figure out how to keep it once opened.
Thoughts ?
No crystal balls...
qz.com
The weird contradictions rendering the US economy inexplicable
I like to imagine the economy as kind of enormous, complex machine, all flywheels and belts and gears, blinking lights, dials, buttons, a couple of enormous levers. Careful observation has allowed economists to establish relationships between all the stuff the machine makes and all the things...
qz.com
Amid inflation, people desperate for cash are turning to pawn shops
Rick Harrison of "Pawn Stars" discussed today's sky-high inflation and what he's seeing among pawn shop visitors on "Fox & Friends": "This is what they have to do" to get by, he said.
www.foxbusiness.com
Have another sip of Koolaid as you read.
www.marketwatch.com
Inflation expectations fell sharply in July, New York Fed survey finds
Inflation expectations in July fell across all time horizons, according to a monthly survey by the New York Fed released Monday. The median expectation of...
www.marketwatch.com
wow, I beat Hobo to the post link
I believe
Restaurants (service and hospitality) are facing the largest wage increases and productivity hasn't increased. Your waiter/waitress is slower and highly unmotivated. (at least on my side of town )
linkI believe
Restaurants (service and hospitality) are facing the largest wage increases and productivity hasn't increased. Your waiter/waitress is slower and highly unmotivated. (at least on my side of town
)"The productivity of the business sector fell 2.5 percent compared with a year ago, the largest decline ever recorded in data going back to the first quarter of 1948, the Bureau of Labor Statistics said Tuesday. The decline comes from a 1.5 increase in economic output and a 4.1 percent increase in total hours worked."
Unit labor costs jumped 10.8 percent in the second quarter of 2022, reflecting a 5.7-percent increase in hourly compensation and a 4.6-percent decrease in productivity. Economists had forecast labor costs to be up by 9.3 percent. In the first quarter, unit labor costs were up 12.6 percent.
The decline in productivity came from the services sector, which is still rebounding from the pandemic
There is no need to rush...... We have months and months of bad news in front of us.wow, I beat Hobo to the post
I believe
Restaurants (service and hospitality) are facing the largest wage increases and productivity hasn't increased. Your waiter/waitress is slower and highly unmotivated. (at least on my side of town
"The productivity of the business sector fell 2.5 percent compared with a year ago, the largest decline ever recorded in data going back to the first quarter of 1948, the Bureau of Labor Statistics said Tuesday. The decline comes from a 1.5 increase in economic output and a 4.1 percent increase in total hours worked."Unit labor costs jumped 10.8 percent in the second quarter of 2022, reflecting a 5.7-percent increase in hourly compensation and a 4.6-percent decrease in productivity. Economists had forecast labor costs to be up by 9.3 percent. In the first quarter, unit labor costs were up 12.6 percent.The decline in productivity came from the services sector, which is still rebounding from the pandemic
I'm enjoying the deflation thoughts of the other members here....
When I think of "deflation" it's like walking out in the morning and finding a flat tire on your vehicle... Slow leak
At the rate the Government and Markets are dealing with it..... this is going to be like a blow out at 100 mph.....
An example of the problem:
Dow jumps 400 points, Nasdaq surges 2% as investors cheer lighter-than-expected inflation report
I disagree on deflation.
It's like walking out and finding a 5 dollar bill next to your flat tire. Always mixed emotions
/cloudfront-us-east-2.images.arcpublishing.com/reuters/H4V5WZK6L5NSBLGDDQBRAVDKVU.jpg)
Toshiba logs surprise quarterly operating loss as costs surge
Toshiba Corp on Wednesday posted an unexpected operating loss in the first quarter as it grappled with a sharp rise in logistics and raw material costs as well as a global chip shortage.
www.reuters.com
/cloudfront-us-east-2.images.arcpublishing.com/reuters/KP4TSSK6ANL7VHH472NEXSOAZE.jpg)
Honda posts 9% fall in Q1 profit, beats estimate
Japan's Honda Motor Co on Wednesday posted a better-than-expected 9% drop in first-quarter operating profit, squeezed by COVID-19 restrictions in China that curtailed production and higher material costs.
www.reuters.com
/cloudfront-us-east-2.images.arcpublishing.com/reuters/DBPVRY5JUFNWBK35XXJCL2B3P4.jpg)
China's Lenovo posts slowest revenue rise in 9 quarters on PC downturn
China's Lenovo Group recorded its smallest revenue growth in nine quarters as the world's biggest PC maker saw sales of the devices ease after a pandemic-fuelled boom, and it was also hit by COVID-19 lockdowns at home.
www.reuters.com
Jobless claims rise to highest level in 2022
New applications for unemployment benefits ticked higher last week, evidence that the historically tight labor market is starting to loosen amid record-high inflation.
www.foxbusiness.com
Firms that have announced layoffs since the beginning of August include:
- Malwarebytes employees are posting on LinkedIn about layoffs at the Bay Area-based cybersecurity firm. Layoffstracker.com reports 125 people were affected by the cuts.
- Meditation app Calm is laying off 20% of its staff, according to an internal memo obtained by the Wall Street Journal.
- Warby Parker, an online retailer of prescription glasses, is laying off 63 corporate employees, 2% of its overall workforce and 15% of its corporate staff.
- Video game developer Jam City, which has offices across the U.S. and Canada, is laying off about 200 employees.
- LinkedIn members shared about staffing cuts made at other companies: real estate tech platform Doma, which also laid off staff in May; cannabis tech Weedmaps; childcare management app brightwheel; analytics software platform Sisu, and payments processor Fiserv.
A few thoughts from a different perspective:
charleshughsmith.blogspot.com
A Most Peculiar Recession
So what are conventional pundits missing today? I would start with three dynamics. Only old people experienced real recessions --those i...
charleshughsmith.blogspot.com
From ZeroHedge
The US federal government’s deficit spending and debt are the most significant factors driving this money printing, resulting in drastic price increases.
The US federal government has the biggest debt in the history of the world. And it’s continuing to grow at a rapid, unstoppable pace.
www.zerohedge.com
The US federal government’s deficit spending and debt are the most significant factors driving this money printing, resulting in drastic price increases.
The US federal government has the biggest debt in the history of the world. And it’s continuing to grow at a rapid, unstoppable pace.
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
Worldwide
BEIJING — China reported data for July that came in well below expectations.
Retail sales grew by 2.7% in July from a year ago, the National Bureau of Statistics said Monday. That’s well below the 5% growth forecast by a Reuters poll, and down from growth of 3.1% in June. Within retail sales, catering, furniture and construction-related categories saw declines.
Sales of autos, one of the largest categories by value, rose by 9.7%. The gold, silver and jewelry category saw sales rise the most, up by 22.1%.
www.cnbc.com
BEIJING — China reported data for July that came in well below expectations.
Retail sales grew by 2.7% in July from a year ago, the National Bureau of Statistics said Monday. That’s well below the 5% growth forecast by a Reuters poll, and down from growth of 3.1% in June. Within retail sales, catering, furniture and construction-related categories saw declines.
Sales of autos, one of the largest categories by value, rose by 9.7%. The gold, silver and jewelry category saw sales rise the most, up by 22.1%.
China's consumer and factory data miss expectations in July
Investment into real estate fell at a faster pace in July than June, while investment into manufacturing slowed its pace of growth.
www.cnbc.com
Amazing that the free money is still flowing. Free money is what has us in this jam.
www.cnbc.com
These 16 states are issuing additional stimulus checks to qualifying residents
16 states will soon be giving out their own form of stimulus checks, but only to those who qualify.
www.cnbc.com
New York Empire State factory gauge plunges in August deep into contraction territory
The New York Fed’s Empire State business conditions index plummeted 42 points to negative 31.3 in August, the regional Fed bank said Monday.
New York Empire State factory gauge plunges in August deep into contraction territory
The New York Fed’s Empire State business conditions index plummeted 42 points to negative 31.3 in August, the regional Fed bank said Monday.
www.marketwatch.com
Blackstone is preparing a record $50 billion vehicle to scoop up real estate bargains during the downturn — here's how to lock in higher yields than the big money
Priced out of the market? It's time to pivot.www.yahoo.com
As I’ve stated 847,000 times, if you don’t own a house then you need to buy one right fucking now. At any price. Waiting for a 50% housing drop like 2008 is a fools dream.
Big money is chasing yield, and real estate is it.
Rent income in perpetuity, that will increase yearly+asset appreciation= You can’t compete.
America will be a nation of renters in the very near future.
Andreessen Horowitz announces plans to invest in Adam Neumann's new residential real estate company
Venture capital firm Andreessen Horowitz announced Monday that it plans to invest in Adam Neumann's new residential real estate company called Flow.
www.cnbc.com
Well WeWork ended up great for Neumann, why not dive into the next scam.Andreessen Horowitz announces plans to invest in Adam Neumann's new residential real estate company
Venture capital firm Andreessen Horowitz announced Monday that it plans to invest in Adam Neumann's new residential real estate company called Flow.
Apple reportedly lays off 100 contract recruiters after committing to hiring on a 'deliberate basis'
Apple has laid off about 100 contract-based recruiters in the past week in an effort to slow hiring and spending.
www.cnbc.com
Target Profit Drops 90% in Second Quarter as Inflation Changes Consumer Purchasing - The Last Refuge
In the second quarter of 2021 Target earned $1.82 billion in profit. In the second quarter this year, target earned $183 million. That’s the result of inflation hitting the middle-class consumer. Few people are buying electronics, home goods, durables or clothing. Any retailer that specializes...
theconservativetreehouse.com
This isn’t surprising. But 90% is a hell of a cut this early in the game.Target Profit Drops 90% in Second Quarter as Inflation Changes Consumer Purchasing - The Last Refuge
In the second quarter of 2021 Target earned $1.82 billion in profit. In the second quarter this year, target earned $183 million. That’s the result of inflation hitting the middle-class consumer. Few people are buying electronics, home goods, durables or clothing. Any retailer that specializes...
The FED Reserve lost their chance to head off this recession... Too little too late during the end of 2021.
www.cnbc.com
Fed sees interest rate hikes continuing until inflation eases substantially, minutes show
The FOMC on Wednesday released minutes from its July 26-27 meeting, when it raised interest rates by 0.75 percentage point.
www.cnbc.com
Interesting to watch "We the People" start to figure the Government figures have been lying to them... The light bulbs come on when "the Month last longer than the Paycheck"....
www.cnbc.com
Kohl's cuts guidance, blaming inflation for softer sales from middle-income shoppers
Kohl's said its middle-income customers have been particularly pressured by higher inflation.
www.cnbc.com
Give it a few more months.
www.cnbc.com
People aren't cutting back on tips even as inflation surges
Even as diners face higher menu prices, they're not cutting back on tips, according to a new report from Toast.
www.cnbc.com
Another obvious sign of the recession taking hold. Contractors are not renting as much equipment. For sure contractors won't be buying any equipment. History repeating.
United Rentals stock price target cut to $355 from $420 at KeyBanc Capital
United Rentals stock price target cut to $355 from $420 at KeyBanc Capital
One more word that is now being re-defined....... Sluggish.
As an economy has it's energy drained it becomes sluggish. Waiting on that caffeine boost.
forextv.com
As an economy has it's energy drained it becomes sluggish. Waiting on that caffeine boost.
Featured Top News Archives
forextv.com
“Unfortunately, what’s good for the American worker is bad for the Fed’s attempt to being inflation back down to 2% and this will complicate their job and cause them to raise rates higher and for longer than many people currently expect,” said Chris Zaccarelli, chief investment officer for Independent Investor Alliance.
www.cnbc.com
Jobless claims edge lower as Fed looks to cool labor market
Jobless claims totaled 250,000 for the week ended Aug. 13, down 2,000 from the previous week and below the 260,000 Dow Jones estimate.
www.cnbc.com
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