Taking on debt might be fine as a speculation on an income property when the economy can support actual wage earners who can pay their bills. Other than that, debt is just a banker's trap for the unsophisticated.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Taking on debt might be fine as a speculation on an income property when the economy can support actual wage earners who can pay their bills. Other than that, debt is just a banker's trap for the unsophisticated.
Lending is the SOURCE OF INCOME for banks. Economists and financial news are crying over the fact that bank earnings are now in the tank. Bad bank earnings (reduced lending) is a good thing for tomorrow's economy.
If housing prices fall, or even just stagnate (which is likely to happen due to rising mortgage rates), then many households will be tapped out with no more home equity to draw upon.
I would bet that very few of those surveyed actually own a home and is why they answer as they do.
@jmski52 said:
Taking on debt might be fine as a speculation on an income property when the economy can support actual wage earners who can pay their bills. Other than that, debt is just a banker's trap for the unsophisticated.
You ever buy a house with a mortgage? Was that speculation?
But your point is accurate. Use debt to buy productive assets, not to buy TV programs and chrome wheels. If folk want to be dumb, then let them be dumb, just stop bailing them out. Then when they are in desperation mode...well...at least you're prepared.
If housing prices fall, or even just stagnate (which is likely to happen due to rising mortgage rates), then many households will be tapped out with no more home equity to draw upon.
I would bet that very few of those surveyed actually own a home and is why they answer as they do.
I wasn't writing about those in the survey. I am pointing out that if house values fall by a meaningful amount, many people who are currently able to service their debt will no longer be able to do so.
Unemployment only measures those that WANT to work.
Labor participation rate is 62.2%.
Employment population ratio is 59.9%.
Both of these are very low and take into consideration a bigger picture of the economy. You can speculate why these numbers are so low. These numbers are rarely considered when 'unemployment' numbers are tossed about.
'The unemployment number is...bla bla bla'. Basically irrelevant if you ignore the two percentages above
If housing prices fall, or even just stagnate (which is likely to happen due to rising mortgage rates), then many households will be tapped out with no more home equity to draw upon.
I would bet that very few of those surveyed actually own a home and is why they answer as they do.
I wasn't writing about those in the survey. I am pointing out that if house values fall by a meaningful amount, many people who are currently able to service their debt will no longer be able to do so.
So you think most people are tapping home equity to service debt? Ie, taking a HELPC to pay credit cards?
@streeter said:
Unemployment only measures those that WANT to work.
Labor participation rate is 62.2%.
Employment population ratio is 59.9%.
Both of these are very low and take into consideration a bigger picture of the economy. You can speculate why these numbers are so low. These numbers are rarely considered when 'unemployment' numbers are tossed about.
>
"Very low"????
Looks to be about the average level over the last 70 years and higher than the "good old days of Mayberry".
Any coincidence that the rate peaked when the first baby boomers turned 55 and were eligible for retirement?
@jmski52 said:
Taking on debt might be fine as a speculation on an income property when the economy can support actual wage earners who can pay their bills. Other than that, debt is just a banker's trap for the unsophisticated.
You ever buy a house with a mortgage? Was that speculation?
not if it was a personal residence. He was simply trading his future labor for a basic necessity.
@jmski52 said:
Taking on debt might be fine as a speculation on an income property when the economy can support actual wage earners who can pay their bills. Other than that, debt is just a banker's trap for the unsophisticated.
You ever buy a house with a mortgage? Was that speculation?
not if it was a personal residence. He was simply trading his future labor for a basic necessity.
You know....wisdom has been running after you for decades, but you're too darn fast.
@jmski52 said:
Taking on debt might be fine as a speculation on an income property when the economy can support actual wage earners who can pay their bills. Other than that, debt is just a banker's trap for the unsophisticated.
You ever buy a house with a mortgage? Was that speculation?
not if it was a personal residence. He was simply trading his future labor for a basic necessity.
You know....wisdom has been running after you for decades, but you're too darn fast.
I guess you believe buying new underwear is also speculation. LOL
@jmski52 said:
Taking on debt might be fine as a speculation on an income property when the economy can support actual wage earners who can pay their bills. Other than that, debt is just a banker's trap for the unsophisticated.
You ever buy a house with a mortgage? Was that speculation?
not if it was a personal residence. He was simply trading his future labor for a basic necessity.
You know....wisdom has been running after you for decades, but you're too darn fast.
I guess you believe buying new underwear is also speculation. LOL
Now, millions of people may be sidelined from their jobs due to long COVID. Katie Bach, a senior fellow with the Brookings Institution, drew on survey data from the Census Bureau, the Federal Reserve Bank of Minneapolis and the Lancet to come up with what she says is a conservative estimate: 4 million full-time equivalent workers out of work because of long COVID. "That is just a shocking number," says Bach. "That's 2.4% of the U.S. working population."
@cohodk said:
JOLT report shows 10.7 million job openings.
that's a lot of burger joints.
I work in healthcare, our hospital is less than half its normal operating capacity. Not because there aren't enough patients, we just can't hire and maintain the staff. They have been offering nurses $30K sign on bonuses and $80+ an hour and still can't fill the openings. Last I checked our health system alone has over 8,000 open positions. Those aren't burger flipping jobs.
@cohodk said:
JOLT report shows 10.7 million job openings.
that's a lot of burger joints.
I work in healthcare, our hospital is less than half its normal operating capacity. Not because there aren't enough patients, we just can't hire and maintain the staff. They have been offering nurses $30K sign on bonuses and $80+ an hour and still can't fill the openings. Last I checked our health system alone has over 8,000 open positions. Those aren't burger flipping jobs.
You work in one of the joints that won't hire the unvaxxed but will allow the Covid positive to work a shift?
@cohodk said:
JOLT report shows 10.7 million job openings.
that's a lot of burger joints.
I work in healthcare, our hospital is less than half its normal operating capacity. Not because there aren't enough patients, we just can't hire and maintain the staff. They have been offering nurses $30K sign on bonuses and $80+ an hour and still can't fill the openings. Last I checked our health system alone has over 8,000 open positions. Those aren't burger flipping jobs.
You work in one of the joints that won't hire the unvaxxed but will allow the Covid positive to work a shift?
Most of the country is vaccinated and especially those who work in healthcare. Vaccines have nothing to do with the staffing issues.
@cohodk said:
JOLT report shows 10.7 million job openings.
that's a lot of burger joints.
I work in healthcare, our hospital is less than half its normal operating capacity. Not because there aren't enough patients, we just can't hire and maintain the staff. They have been offering nurses $30K sign on bonuses and $80+ an hour and still can't fill the openings. Last I checked our health system alone has over 8,000 open positions. Those aren't burger flipping jobs.
You work in one of the joints that won't hire the unvaxxed but will allow the Covid positive to work a shift?
Most of the country is vaccinated and especially those who work in healthcare. Vaccines have nothing to do with the staffing issues.
Friend of mine is a recruiter for nursing, they can't throw enough perks around to get enough staff.
@cohodk said:
So you're saying people quit their jobs and never return? That's called retirement.
I'm sayin (as are the two above charts) that one third of the job openings were created by those that quit their jobs. As usual you attempt to put words in the mouth of the charts. LOL
@cohodk said:
So you're saying people quit their jobs and never return? That's called retirement.
I'm sayin (as are the two above charts) that one third of the job openings were created by those that quit their jobs. As usual you attempt to put words in the mouth of the charts. LOL
Your interpretation would be correct if those that quit never returned to the workforce, which would be called retirement.
If someone quits a job (and doesnt retire) then they go to another job and fill a vacancy. The number of net job openings would remain the same.
But you are putting some other words into the mouths of charts that dont make sense, per usual.
Do you believe voluntary leave of a job is a sign or good or bad economy?
Comments
Taking on debt might be fine as a speculation on an income property when the economy can support actual wage earners who can pay their bills. Other than that, debt is just a banker's trap for the unsophisticated.
I knew it would happen.
Lending is the SOURCE OF INCOME for banks. Economists and financial news are crying over the fact that bank earnings are now in the tank. Bad bank earnings (reduced lending) is a good thing for tomorrow's economy.
Give Me Liberty or Give Me Debt
I would bet that very few of those surveyed actually own a home and is why they answer as they do.
Knowledge is the enemy of fear
You ever buy a house with a mortgage? Was that speculation?
But your point is accurate. Use debt to buy productive assets, not to buy TV programs and chrome wheels. If folk want to be dumb, then let them be dumb, just stop bailing them out. Then when they are in desperation mode...well...at least you're prepared.
Knowledge is the enemy of fear
I wasn't writing about those in the survey. I am pointing out that if house values fall by a meaningful amount, many people who are currently able to service their debt will no longer be able to do so.
Unemployment only measures those that WANT to work.
Labor participation rate is 62.2%.
Employment population ratio is 59.9%.
Both of these are very low and take into consideration a bigger picture of the economy. You can speculate why these numbers are so low. These numbers are rarely considered when 'unemployment' numbers are tossed about.
'The unemployment number is...bla bla bla'. Basically irrelevant if you ignore the two percentages above
So you think most people are tapping home equity to service debt? Ie, taking a HELPC to pay credit cards?
What if home prices dont fall?
Knowledge is the enemy of fear
>
"Very low"????
Looks to be about the average level over the last 70 years and higher than the "good old days of Mayberry".
Any coincidence that the rate peaked when the first baby boomers turned 55 and were eligible for retirement?
Knowledge is the enemy of fear
not if it was a personal residence. He was simply trading his future labor for a basic necessity.
Give Me Liberty or Give Me Debt
It's not technically a recession. LOL
Time to redefine the Misery Index?
Give Me Liberty or Give Me Debt
You know....wisdom has been running after you for decades, but you're too darn fast.
Knowledge is the enemy of fear
I guess you believe buying new underwear is also speculation. LOL
Give Me Liberty or Give Me Debt
Only if I've had your wife's cooking. Haha
Knowledge is the enemy of fear
tool shed getting smaller?
Give Me Liberty or Give Me Debt
https://brookings.edu/research/is-long-covid-worsening-the-labor-shortage/
https://npr.org/2022/07/31/1114375163/long-covid-longhaulers-disability-labor-ada
Successful BST transactions (as a buyer) with @ArchStanton, @JGnumismatics, @r00kies101, @derryb, @76collector, @Pachucko, @brendanlam, @Coll3ctor. I am looking for fractional gold Krugerrands, by year: 0.5oz: 2014, 2020, 2023 | 0.25oz: 1992, 1994, 2002, 2020, 2023 | 0.10oz: 1990, 1992, 1994, 2010, 2020-2021
https://www.usdebtclock.org/
JOLT report shows 10.7 million job openings.
Knowledge is the enemy of fear
that's a lot of burger joints.
Give Me Liberty or Give Me Debt
I work in healthcare, our hospital is less than half its normal operating capacity. Not because there aren't enough patients, we just can't hire and maintain the staff. They have been offering nurses $30K sign on bonuses and $80+ an hour and still can't fill the openings. Last I checked our health system alone has over 8,000 open positions. Those aren't burger flipping jobs.
The whole worlds off its rocker, buy Gold™.
You work in one of the joints that won't hire the unvaxxed but will allow the Covid positive to work a shift?
Most of the country is vaccinated and especially those who work in healthcare. Vaccines have nothing to do with the staffing issues.
The whole worlds off its rocker, buy Gold™.
In an attempt to lower your level of ignorance, here are the stats.
https://www.bls.gov/news.release/jolts.t01.htm
About 1.3 million are in food and accommodation or about 1 in 7 job openings. The other 85% are hardly "burger flippers".
2 million in healthcare.
2 million in professional/business.
2.1 million in transportation/retail.
900k in state/local govt.
800k in manufacturing.
Knowledge is the enemy of fear
Friend of mine is a recruiter for nursing, they can't throw enough perks around to get enough staff.
Maybe wages should reflect inflation.
Give Me Liberty or Give Me Debt
4.2 million quit jobs in June despite recession concerns.
Massive churn and job hopping.
Lotta job openings:
The reason for up to one third of them:
Note the similarity in numbers movement.
Give Me Liberty or Give Me Debt
So you're saying people quit their jobs and never return? That's called retirement.
Knowledge is the enemy of fear
I'm sayin (as are the two above charts) that one third of the job openings were created by those that quit their jobs. As usual you attempt to put words in the mouth of the charts. LOL
Give Me Liberty or Give Me Debt
Your interpretation would be correct if those that quit never returned to the workforce, which would be called retirement.
If someone quits a job (and doesnt retire) then they go to another job and fill a vacancy. The number of net job openings would remain the same.
But you are putting some other words into the mouths of charts that dont make sense, per usual.
Do you believe voluntary leave of a job is a sign or good or bad economy?
Knowledge is the enemy of fear
US Job Growth Surges, Tempering Recession Fears and Pressing Fed https://www.bloomberg.com/news/articles/2022-08-05/us-job-growth-tops-forecast-unemployment-falls-to-3-5
Recession?
Knowledge is the enemy of fear
We are in a recession. Unless of course you're with the "let's change the definition" crowd. LOL
Give Me Liberty or Give Me Debt
Give Me Liberty or Give Me Debt
https://fred.stlouisfed.org/release/tables?rid=53&eid=12998#snid=12999
Knowledge is the enemy of fear
Fed Funds is at 2019 levels near 2.5%. Yawn.
Margins ebb and flow for myriad reasons. Yawn.
Which major companies? Crickets.
Knowledge is the enemy of fear
Can you define a recession?
Knowledge is the enemy of fear
Yes, the question is "why can't you?"
Give Me Liberty or Give Me Debt
Twitter 30%
Ford 8,000
Tesla 10%
Carvana 2,500
Uber hiring freeze
Meta hiring freeze
Give Me Liberty or Give Me Debt
Can you define a recession?
Whenever they start cutting bonuses at JPMorgan?
Whenever Janet Yellen says so?
Just after the midterm elections are over?
Whenever GDP declines for 2 successive quarters?
I knew it would happen.
Oh, they return, just not in time for the current jobs report. They may be included in the next one or the one after that or. . .
And by the way, that current great jobs reports is counting 384,000 part time jobs as "new" jobs. LOL
Figures will continue to lie as long as taxpayers pay liars to figure.
Give Me Liberty or Give Me Debt
It's Happening!
Give Me Liberty or Give Me Debt
>
>
>
Which category includes the burger joints?
Give Me Liberty or Give Me Debt
You didnt ask me, but I could certainly define one, and it would not be as simplistic as the one used for the masses.
Knowledge is the enemy of fear
Lol....Twitter, Carvana. Haha
Regardless, that's what, 15000 people?
Let's put that in perspective...2.5 million folk of working age are lost every year due to death. That's nearly 7000 per day.
Knowledge is the enemy of fear
Thanks for proving lots of jobs have been created.
Knowledge is the enemy of fear
this should solve all financial problems:
Give Me Liberty or Give Me Debt
Sure, don't forget that 384,000 of them are temporary jobs.
And how many of those jobs are second jobs for those trying to keep up with inflation? LOL
Give Me Liberty or Give Me Debt
Food for thought:
What if our BLS jobless claims are as fabricated as our CPI inflation numbers?
Give Me Liberty or Give Me Debt
Your assertions are grossly incorrect, but let's play.
Even if the jobs are temporary that shows there is demand for worker. That ain't a sign of a bad economy.
The fact that there are excess jobs available for folk to work a 2nd job also is not a sign of a bad economy.
Worry when there are no temporary jobs, or excess job openings for folk to earn extra money. And dont confuse your narratives.;)
Knowledge is the enemy of fear
Ignorance is a breeding ground for conspiracy theory.
Knowledge is the enemy of fear
The CPI inflation numbers put out by the BLS are well documented to be completely bogus.
They attempted to change the long-standing classic definition of a recession to suit their storybook.
Who's credible here? Talking about ignorance and conspiracy theories - don't make me laugh.
I knew it would happen.
No one has changed the DEFINITION of a recession. Is that another conspiracy theory?
Knowledge is the enemy of fear