Call me naive but I think if a country relies on a certain percentage of it's popularion to suffer without income and insurance, with no safety net, there might be something fundamentally wrong with that country.
Then I will call you naive. The US has never aspired to be the happiest country or have the best quality of life. The priorities of the US government are to maintain the largest economy in the world and to keep the system of power in place as designed. Our influence in the world is derived from the size of the economy and the stable government. The US government is very successful by the terms of what it considers success.
The government, through the Fed, systematically keeps a percentage of people in poverty to protect capitalism while blaming them individually for being poor.
@@TheRealFemShady Exactly they want people to lose their jobs, but then turn around and say it's their fault that they lost their jobs and give no help. If their actions cause people to lose their employment, they should be directly responsible financially. If a business can sue you for loss of profits/business then an individual should be able to do the same as well.
And of course we can't forget that even if not everyone can get a job, you get bullied and outcast for not having one and also may or may not die since you need a job to live. And when you can't get one because of this system, you're blamed for it. Our society is totally functional :)
Capitalism necessitates a reserve army of labor so that employees feel expendable, as there is a horde of people clambering for your job and you should be grateful the capitalist has shown you such kindness to allow you to survive. Stay in your lane peasant; there's profits to be made and compassion isn't profitable.
Hard to be employed when you are disabled or constantly sick. Oh yeah, you know what else is a joke? When you work two jobs and still can't afford a place to live.
You're looking at things the wrong way. You're seeing a circumstance as a ceiling when you should be seeing the circumstance as a hurdle to overcome. If you're working two jobs and can't afford a place to live, then you need to increase your skill set so that you're marketable for another job that will afford you a place to live. This is a type of thinking that is rare today, b/c in the last few generations kids were raised by Oedipal mothers who failed to teach them resilience while simultaneously doing everything for them. This dynamic leads to children who grew up into adults with weak mindsets and complain about any obstacle they face in life. Frankly, its unamerican b/c America was made from grit. Look at the prospectors and pioneers who went out West to find precious metals and settle the land. But, until you radically change your cognitive belief systems, you'll be stuck in this cycle called the lower middle class which is growing each year....
@@machintrucGaming Seethe and cry more. I'm sure a house will fall in your lap once you turn red hot, or you could take the advice he gave, your life.
The employer-employee relationship is a very insidious dynamic. Employment is a rental contract. Like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
I pledge allegiance to the flag of the Corporate states of America and to the oligarchs for which it stands, one nation under debt, easily divisible, with liberty and justice for Oil
@@SigmaBusMan QThe employer-employee relationship is a very insidious dynamic. Employment is a rental contract. Like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
If the end result is forced poverty for the Americans who aren't allowed to gain work, then the system is morally wrong and needs reworking from the ground up.
We've figured out the problem. The way our economy works relies huge populations doing unpaid labor and people having no purchasing power! Now that women and people of color actually can work and get paid properly, it's breaking the economy unless someone fills those unemployed spots. It's insane but POC have been saying forever that the system was built to fail us, finally everyone is seeing it.
Because people have babies at 22 and try to show off their 30k car they went in debt for. I make about 50k before tax and live a pretty sweet life, I got my own apartment and I get to snowboard two times a week and hangout with my girlfriends.
Well yea, each company has an identity and a collective quantity of coworkers. Why would they want to hire someone who isn't socially correct or won't act well with others? Just sounds like you don't want to play the game of the job market and social standards aka you're acting privilidged rather than flexing.
@@Mistro07 inflation is not the amount of money in the market, it’s the prices of things, if the prices don’t increase, inflation doesn’t increase, corporations increase prices cause they want to, out of greed
I'm not an "eat the rich" hippie but I do theorize that the mega rich may be energetically feeding off the hurt and despair of the poor. This would partially explain why the rich have been actively trying to eradicate the middle class.
How else can they fly into space. and if the public allows it to happen then why not. I wonder if Americans look down at countries where there the ultra rich and the poverty such as India... bc they never see the reflection in the mirror.
@@aznosu Well Americans look down at all systems that have an unbalance like that including America! Its crazy for there to be hungry ppl on the streets as the wealthy wipe their ass with gold lined toilet paper! Sickness.
Jobs in Ohio are paying $11-$17 for assistant managers. That's $23,000+ per year of income. Some insurance companies charge $8900 per year to insure two adults (without kids). Insane.
not insane bc Americans allow it. Americans allow the 0.001% to run it resulting in 1. a business of college to either put americans in debt (slavery) or most don't get the education so there are few opportunities. 2. Business of medical care, hence Americans are afford to use the medical system bc it will land them in Debt (slavery) which results in no waiting line or shorter ones for the wealthy who can afford it 3. fewer jobs than workers so that the top can force talents to work for less or you can eat. It's clear what is happening and Americans support it bc they are sold that they will one day be Jeff Bezos lol.
Remember when you used to be able to support a family of 4 working in a sheet natal factory? My grandfather's all made less money than me when factoring inflation, but houses were only a few thousand back then, not a few million.
My grandfather was able to buy a house and feed a family just driving a Taxi. Now I work with circuit boards and microelectronic components that he wouldn’t even be able to name and I feel like owning a home is out of reach. Something ain’t right.
Mine was a janitor and had a house built in Florida. We are being scammed they are stressing out the working class for profits to the top. It will backfire when none of us have kids.
The super wealthy just want all the money. They can't afford to get their 10th house and a second mega yacht and pay people and real wage. Apparently Amazon can't even afford to give workers bathroom breaks so that their CEO can afford to run his own space program.
The only thing that is preventing me from finding a job is these job interviews. Every single one I've been too its always the same stupid stuff. I go in, they ask me a bunch questions, and they say "We'll give you a call and see if you qualify for the job". Days and weeks go by and I don't get a single call back. I tried calling them a few times but they its just "We'll get back to you shortly". Feeling frustrated I told them I did a job interview with them a while ago and I wanted to know why is this taking so long. The response I got was "Well we did hire some people so I guess you didn't quality for the job" and I was left feeling very mad and felt like I wasted my time.
In my experience, they just say 'it's been decided that nobody is being hired at the moment". It always seems to be a bad time for companies when I'm looking for a job
My son has gone through this multiple times. They alway say he’s to shy. I really don’t get why that is a reason to not hire somebody. I’m very shy and it was commented about in my last job interview. I was lucky that one of the two interviewers didn’t care and had me hired anyway. 5 years later the interviewer that didn’t like me because I was shy is my biggest fan. She calls me the backbone of the facility I work at.
Ah yes. Applied to 57 jobs in a month and i got the worst one who didn't want me for full time and still hve me working 6 days a week and killing my car off for an 4 hour work day. Good job powell.
You applied 57 jobs in a month? Did you tailor a different resume to each company? Did you apply to jobs that fit your experience? Nowadays, people are looking for employees with specific skills. People seem to forget that you need to adapt and survive.
@@clairvoyantcards29 You can't just pull a random number out of your ass. Even with 20 real jobs, OP did not tailor the resume for each company. He/she is blaming others for his/her own failure.
@Radicn have you ever shifted through job applications lately? No? I have. 1 16 dollar an hour job got literally hundreds of applicants. Either the person looking through them spends 2 seconds on it, or it's autoblocked by a robot. Only ignorant people look at that and go "it's your fault". No, our system is broken. You honestly think 57 applications is a lot too.... cute. I've known people to fill out thousands. Some have even done journalism on it. Out of a thousand applications (for low wage jobs) they got maybe 20 job interviews.
There’s more and more of a concern that incoming data is revealing that the Fed might be a little bit behind the curve than maybe they expected heading into this year,” said Bipan Rai, North America head of FX strategy at CIBC Capital Markets in Toronto. In my portfolio, I'm noticing more red than green. How are other people in this market raking in over $350k gains within months
Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a CFP or other professional for advice.
@@stephaniestella213 Yes, I have been in touch with a CFP ever since the outbreak. Today, investing in hot stocks is quite easy; the difficult part is deciding when to buy and sell. With an initial starting reserve of $80k, my adviser chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@@johnlennon232 my 401k growth has been stagnant since the 2019. I wouldn't mind consulting the advisor who guides you, I really want to grow my retirement fund since I could retire in 3 years.
@@johnlennon232 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
@@Rucnas start taxing the wealthy like they're supposed to. They don't do their part. They always want to put that on the working class to make up for what they won't do.
No. When I was homeless I actually realized there are some people who are never going to be able to hold a job. They were poorly educated or had serious mental health issues.
@Black-xi5su No I mean poorly educated. Some of them were from the South, and this was after hurricane Katrina, looking for work and couldn't get a job because you needed at least a high school diploma to get a job here. They didn't have that!
It should be worth a reminder that labor costs are just one factor in prices, not the sole determinant. Also, in a consumer economy, higher wages tends to mean an aggregate increase in demand. In the short term this can mean upwards pressure on prices, but in the long term it often means more growth to accommodate the newfound demands of a prosperous working class.
@@ralphpal You are not accounting for some of these companies increasing prices just because they can. For instance oil executives have been recorded in shareholder calls about how they are making more money than ever before in history and they think they can continue to raise prices. Workers are not getting that money. It is just a wealth transfer from regular people to the ultra wealthy. Apparently more of them need to be rich enough to run their own space program.
Instead of looking for 2% inflation- why can they raise that # like they do everything else . And for them to say they cannot determine when does it becomes inflationary with the amount of people working ..
@@MrHammer2088 It is easy. Companies raise rates and take more profit for themselves. The Fed sees inflation and then takes it out on the workers. Companies spend more money on politicians to drive labor costs down further by making people more desperate. It is why wages are basically stagnant for 40 years while productivity has skyrocketed and the rich have gotten so much richer. To the point where about 8 people own half the planet.
Ok, basic question here. Why would you want to advocate for a system that doesn't at a bare necessity level keep a roof over everyone's head? I don't understand.
This employment problem is an antiquated system as real wages have gone down over decades so companies can easily afford to hire more employees than they would have been able to 40+ years ago. The middle class has devolved from a level that meant you could easily retire early as an option to now where even the upper middle class is pay-cheque to pay-cheque. Year after year we constantly hear about the wealth gap widening... it never seems to end, and it's the ones setting monetary policy and interest rates that are partly to blame for it. Others to blame are the politicians and lobby groups and all the mega mergers that create oligopolies and near monopolies. It's the ultra wealthy that own media companies that control the information we hear to placate the populace and always have someone other than them to blame or constantly shows reports that seem to blow up small stories into huge coverage that hides important stories that may only get 20-30 seconds of coverage compared to the hours and days of dumb filler news coverage. Why do we have a 2% inflation rate as a standard? Because of Capitalism. It erodes the value of money but allows assets to grow in value. So wealth grows for those with assets while those just earning wages living pay-cheque to pay-cheque will never build wealth, unless they take risks with their money. But even having assets are at risk as fraud by police, criminal organizations, neighbours, and by bad laws that exploit certain groups of people all transfer wealth away from the earners to the wealthy. I understand how the concept of max employment seems to be a good thing, but it's more geared to help businesses and investors than the wage earners. So again this helps the wealth gap widen. If the policies also affected the wealthy equally then the problem with max employment wouldn't be such a problem. Because the economy is so dependent on investors, executives are sort of held to their whims and expectations, so doing anything other than widening the wealth gap just goes against the intent of investors. So I get that the system won't change from a corporate or investor areas of the economy, it all rests on the government to set policies that mitigates the erosion of the economy.
I think we are too obsessed about the economy crashing. In the right sense, the economy never crashes. It just undergoes cycles, and almost always recovers. So I really don't care what the predictions are. I just want to grow my $354k portfolio. I read that people are pulling in massive profits despite the downturn. Any tips on how they do it?
There are really advisors that can help you achieve very consistent growth. I have a friend who pulled in more than $194k profit within three months. So you just have to make some research and get one who fits your fin-goal.
The market will always recover. The goal is to find quality stocks with long term potential. It's hard for the average Joe to do this, because it involves following a lot of industry news, following up with earnings, etc. It's easier to invest through an advisor who knows how stuff works, and make rocket returns.
@@evitasmith6218 I work with ELEANOR ANNETTE ECKHAUS. First saw her on a CNBC interview. She's got a really excellent pedigree, and her track record is good, too. You could look her up yourself and contact her. I can''t drop her number here.
Thank you for this lead. I just looked her up and she seems to have very good credentials. I'd heard about her speak once in a conference. I'll follow her up with an email.
So the matrix exists after all. The worst part is we know it exists, that we live on it, we put people in power to control us, we let them rule the matrix and we pretend they are working for our good. This Matrix 2.0.
Perhaps corporations could absorb higher wages by deflating C-suite compensation, not always inflating prices. Or the government could tax the snot out of that bonus money (55-65%) and use that to reduce taxes on the average worker, thereby giving them at least a little more money to fight back with. Also raise the corporate tax rate on businesses, especially those that inflate prices of goods without reducing executive compensation, they clearly have extra cash to hand out. Feel the Bern folks.
Thank you for these (kinds of )videos! I really appreciate the new brand of truth they are giving to the general public. Finally, we're getting to a place where as a society we HAVE to stop blaming poverty on the impoverished! Its NOT because we're lazy, not trying hard enough, or not booting strapping. Its because poverty is an EVIL necessity in this society. This means those that have more are running out of excuses for their good fortune and simply NEED to do MORE to help those that are less fortunate.
No, they need to raise the interest rate to 10-15%. Keeping it low is what destroyed the economy. I know it's going to crash everything but the system they created with low interest rates is unsustainable so it has to fail sometime.
@@mangjitnijjhar1390 The economy was doing just fine till they started raising the rates. People had the money to spend on every day living expenses. it just creates more of a gap between the classes. It does not matter to the wealthy, but it matters to the people that live pay check to pay check
One day the history books will record that the Fed’s manipulation of our currency led to the a similar collapse as the Soviet Union’s centralized economy. You can’t plan an economy.
So basically to steer the boat you fire some of the guys rowing on one side to start going in that direction and vice versa and hire as little as possible in order to keep the rowers desperate for work.
25 years ago I told my colleagues at a small city newspaper they should start preparing for online news. I dove head first into front end design. It freaked ppl out and I got called into HR for starting a panic. Guess what?
2% inflation rate is joke. It means worker never getting a raise. The worse time I’ve had in my 33 year working life was during the 2% inflation years. My husband and my pay was the same for almost 10years but everything was still going up especially health insurance. I know a lot of people are hurting now but we finally got ahead far ahead. My raise in the last two years was almost enough to pay my mortgage.
It's a false premise that you avoid inflation by having some people get laid off. If everything is a monopoly and being run by automation you can get inflation even with everyone being unemployed. Making the weakest people in society suffer doesn't stop inflation.
I've been doing some research, and now I can't un-see how all of America's economic issue are due to fiat currency, the Fed and financial sector's complete incompetence - or, how the "market" is designed to keep the rest of us in anxiety and fear over how we will be able to support at least a minimal comfortable lifestyle while the ruling class has more money than they can spend in a billion lifetimes. This idea that the lowest on the totem pole need to keep making sacrifices - like "Some of you will just not have jobs to keep inflation down." is just beyond...and a false narrative.
Personally, I've been interested in two grassroots groups focused on economic democracy, called the Next System Project and the Democracy Collaborative. They have devised a way to keep production local and contract service to cooperatives, called the Preston Model. They have helped multiple cities struggling with job loss due to factory closures build back their communities, in the US and UK. In addition, trade unions, collectives, public banks, credit unions, community land trusts, CSA's, and many other democratically controlled institutions can work together to create democratic networks outside the market to create an economy that doesn't reduce people, their governments, and the environment to a monetary value. I think this can be a viable strategy to give people the autonomy over their work. I believe economic democracy is the only way people who work for the economy will have the economy work for them, their families, and the planet too. During economic downturns cooperatives seek to preserve jobs instead of laying off their members... because they're members are the owners who make the decisions. This way of revitalizing communities by building community wealth has helped many communities all over the globe, and it is utilized by the UK labor party and touted by Jeremy Corbyn. Preston, Lancashire became the most improved city in the UK because of community wealth building. czcams.com/video/MObfh_VNqs4/video.html Not to mention, much of the progress in labor rights has been due to union's collective power. The thing that draws my conviction to the movement is that I can see it now, helping empower people to live happier, healthier, and wealthier lives.
Is it just me, or is anyone else really tired of the rhetoric revolving around squeezing the little guy? Why isn't there more "in depth" coverage of the wealth gap, the percentage of income from a ceo to their lowest paid worker, conversations about windfall taxes, etc... etc... etc... Watch videos of Robert Reich (former labor secretary) if you're hurting, he's saying what you're feeling.
This entire job market and how it operates under Capitalism is so stupid. In a world where you must work to survive, we purposefully keep all people from finding a job because they're scared of the volatile economic system that we work under.
We have to throw more people into the orphan crushing machine to keep the system running. You are right that our system is evil. It doesn't have to be this way though. EU countries are capitalist and they have better upward mobility than we do and they still managed to provide more generous systems to help people who have lost their jobs or can't find one.
This is just like sacrificing a virgin to the swamps/volcano to appease the god of bountiful harvest but now instead of single person, a calculated percentage of the population gets sacrificed to appease the gods of excel line graphs.
Such bull, instead of focusing on limiting common worker wages why not focus on millionaire/billionare profits and corporation profits. wake up people.
Essentially everone cant have a job, because then it will be hard to find workers for new jobs that arise. Raising the pay of that particular job. Then raising inflation. That's bad. But it's completely OK to not have the fed regulate corporations that are price gouging like fkn crazy and the main issue of inflation right now. Regulate people not corporations...America is an autocracy
Lol people are asking for too much for low level jobs. These are entry level jobs, yet people these days want mid level pay. No wonder most of these jobs are being taken over by robots. 😂
Love it when people who have clearly never worked in a commercial kitchen dismissively refer to kitchen work as "flipping burgers" as if it were unskilled labor anyone could do. I know you were referring specifically to fast food, which is kinda paint-by-numbers simple, but the generally dismissive attitude toward labor, and the trades specifically, is one of the reasons that we have had a decades long labor shortage in multiple industries (including restaurants). Restaurant owners have been complaining about the inability to find qualified workers since I had my first kitchen job in the '90s, yet over all can't seem to make the connection that they aren't paying people enough to work a job that is stressful and takes years of training to get good at. We have a looming crisis in carpentry because almost no young people want to destroy their bodies for $30 an hour. The average carpenter is in their late 50's to early 60's. Keep sneering at labor and insisting that these jobs only deserve minimum wage. I'm sure that will help fix the decades long worker shortage that is approaching crisis levels in some fields.
The employer-employee relationship is a very insidious dynamic. Employment is a rental contract. Like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
That's been done before, it's known as price control. What occurs is a reduction in production. Companies stop producing goods and services. It doesn't work. Profits drive buissness. What did work was taxing companies at a fair rate incentivizing them to invest profits. We need buissness to invest in labor, high wages means more buissness as folks have discretionary funds to burn. Biggest issue is profits are going to shareholders instead.
Inflation is much more complicated than just employment levels. It's too much cash in the system, which can be caused by many things such as sharemarket gains, property gains, government stimulus and recently the addition of fake money (crypto).
oh my god. the stimulus did not add that much money to the system. A FEW payments of $1400 to people at best helped people make some impulse buys or buy some crypto, but for many that is LITERALLY one single month of rent. We know that much inflation is actually supply issues from the pangea and war in ukraine and corporate profits!!
Let's just ignore corporate profits. Yeah that probably doesn't have any affect on inflation. Bailing out speculative investors is probably fine too. Yeah the workers are def the problem here.
Fr according to these sources, we have like 3 years with issues on the demand and supply chain and somehow nobody in the power talks about solving it, maybe because it is a lie to protect coorporative greed?
@@ae4116 after watching a few other videos about banks, the closest thing I can guess is to keep nothing ever paid off, to keep it where the idea of making money from nothing continues . . . If every body had a job and paid off everything they’d want and need their wouldn’t be any need to work… so I guess it’s the same as putting somebody on the beach if the team is up 20 points or something idk
@@CareerDropout. it’s hard for the lower class to start off with no debts. I’m trying to keep my kids from having them but unfortunately one of them is having to get student loans. I can pay for things like housing, a car, and car and health insurance, unfortunately I can’t pay for tuition too. He took a HVCH course in high school and then Covid hit. It didn’t help him get a job when he had little hands on instruction and for some reason employer really hate that he shy.
Okay this might be an option but I’m still unsure. . . For those who pay off their debt and are benched when their team is up, those on the opponents team who’s expected to get off the bench, entering the game after seeing their team run them into the ground, those people should be granted the same salaries of those who’ve got the lead by advantage. Therefore if those whose entering the game after their own team blew the game will determine if they’ve learned from the mistakes of others, or just wasn’t paying attention at all. . . Start them off under the same pressure as their desired salary
I feel those who would allow the market dynamism to determine when to trade or not are either new in space generally or probably just naïve, the sphere have seen far worse times than this, enlightened traders continue to make good use of the dip and pump even acquiring more equities towards trading sessions, I'd say that more emphasis should be put into trading since it is way profitable than hodling. Trading went smooth for me as I was able to raise over 11.4 BTC when I started at 1.5 BTC in just a few weeks implementing trades with signals and insights from Andrew Martins, I would advise you all to trade your asset rather than hodl for a future you aren't sure about or hold it and risk losing all....
So essentially what you are saying is that never give the workers the power demand what they should earn and that power should be exclusive to the employer.
Job losses clustered in the crumbling industrial heartland where jobs comparable to those of the past no longer exist. We traded good jobs with strong wages and benefits for cheap imports at big box stores...thank you corp. Am. When manufacturing jobs vanished they are replaced by low pay service jobs. High-tech firms, the last bastion of fruitful careers, employ far fewer workers than industrial giants in past generations (and even those positions are at risk from artificial intelligence).
2% inflation is a purely arbitrary target. Why is it better to have 2% inflation and 5% unemployment than vice-versa? I have asked this question to many people incl PhD economists and have NEVER gotten a satisfying answer that went substantially beyond “inflation bad”. If wages rise in lockstep, 5% inflation is a nothingburger.
I think it because inflation is like compound interest and 2% is manageable near liner growth while 5% accelerates away exponentially. Put the 2% and 5% into a online compound interest calculator and you will see the difference.
@@value4363it more complicated then that because of loans and investments, if I loaned you money and you agreed to pay it back in a years time I would lose value because the money you paid back would be worth less because of inflation so i would have to charge you 2% interest to get the same value back, now if inflation was 5% I would need to charge 5%. This means you would need to earn a higher profit or RoI. Also 2% gives a safety margin, if inflation rises in the short term its not the end of the world, while because of the compounding if inflation rose much above 5% prices would start changing very quickly which fuels further inflation and starts pushing you towards hyper inflation which is impossible to break out of. Finally at 2% the prices of thing change slow over time, so its easy to judge the value of things, while with 5% because of the compounding price would change dramatically over time and every 20 years you would need to add a zero on to the bank notes. Hope this helps
In your scenario inflation would likely spiral out of control. If wages rise in lockstep, remember, those wages only apply to the employed. The unemployed, the underemployed, the retired, would all suffer significantly as would those at the lowest income levels.
Optimization will ruin humanity. As we become more and more data driven as a society and tech driven, optimization will not allow for the maximum good of society, only the maximum productivity based on maximum profit margins with minimal expenses. You can’t min-max humanity.
Capitalism is consistently unstable. We're talking about people who are the metaphorical "shock absorbers" of our system. We accept this. We allow these low wage workers to absorb the shock of these corrections every 5'ish years. Their lives are in a constant state of stress and anxiety as they scramble to provide for themselves and their families. BTW "they" used to be "me" too. But I lucked out. And I might not be so lucky forever. This is a feature of the capitalist system. We can do better than capitalism.
here in canada we are forced to leave our job for someone else to take it who just came to this country me and several of my old colleagues got let go and when we checked why it was the stupidest reason and made it impossible to get ei as well after working with them so long and on top of that instead of housing the homeless canadians and americans we are forced to live on the streets while those coming from other countries get our houses and than to hear them complain about us is insane
“The second aspect of the development of the market in labor involves the separation of workers from their instruments of production. By the time of the American Revolution when private property was the rule, the ownership of the means of production was still quite widespread. About 80% of the nonslave adult males in the United States were independent property owners or professionals - farmers, merchants, traders, craftsmen or artisans, businessmen, lawyers, doctors, and so on. By 1880, this figure had fallen to 33% and, at present, more than 90% of all adults in the labor force are non managerial wage and salary workers. In the course of this transformation to a wage-labor system, the family farm fell to corporate agri-business; craft-organized shops were replaced by the factory system; and the services became bureaucratized” (“Schooling in Capitalist America” by Samuel Bowles & Herbert Gintis page 59). In short, America started out as a society of self-employed laborers with their own property independent of any kind of managerial control. Today this is all, but virtually gone.
Maximum employment is forbidden in the United States because the entire economy is based on slave labor and it always has been. The only reason why the quality of life for the workers has improved during the 20th century is because hydrocarbon fuels have been doing a lot of the work that slaves used to do. As hydrocarbons become more scarce and expensive, the slaves will again be forced to do more work
Paul I agree. What we should do is those who do not have a job in private industry we could pay them $100,000 per year with 4 weeks of paid vacation and 12 paid sick days per year. All they would have to do is show up at an assigned vacant warehouse everyday and join the union to qualify for this job. They could stay all day and read books, watch TV or play cards. If they stayed longer tan 8 hours we could pay them time and a half. After 20 years of being productive they could retire and collect a pension. These people would feel good about themselves and lead a meaningful life.
@@coffeecup3177 sarcasm I see. Have you never heard of Civilian Conservation Corps, Civil Works Administration, and Works Progress Administration… All national programs that paid well, helped the economy, and helped society…
Those programs were really effective because US was still a manufactoring economy and they were through a massive economical depression tho. But yeah, there's no excuses for the goverment to help insentivate people to get more useful and skillful training that can adapt to the modern economy and open a path for future fields. US government is a huge pile of crap sadly.
**Nice video.... I have been trading for months now. I keep making more loss than profit. Is the signal or do I trade wrong coins pls I need some kind of assistance OR advice on what to do?
One could work for 35 years to have $1M in your retirement, meanwhile some people are putting thousand of dollars in a meme coin and now they are multimillionaires. Think probably will get back to normal trades
I wonder when we'll start measuring the national unhoused rate, a measure of the percentage of Americans who are homeless. And then we can have videos like these explaining why not everyone is allowed to be housed. Or a national hunger rate. And propaganda to explain why it simply wouldn't work for all Americans to be able to eat food on a regular basis. Why don't we skip the bullsh*t and just start voting on who to offer up as a sacrifice on the altar to the almighty economy?
Wages have not kept up with inflation for at least the past 50 years so how is wage growth honestly considered a driver of inflation? Corporate profits keep growing. In 1994, the average S&P operating margin was 5.5% and today it is 11.5%. Each company in the chain is keeping more money for its shareholders and paying costs along to the next company that is also keeping more money until the additional costs of all the money kept by each corporation is finally passed on to the consumer. Rather than relying on suppressing wages when inflation gets out of control, we should focus on suppressing operating margin.
For anyone looking to deep dive into this economist Stephanie Kelton wrote a book called The Deficit Myth that addresses the Fed and its inability to balance inflation with job availability. She proposes creating a government workforce pool that people can fall into between jobs that would specialize in building infrastructure, developing public utilities, education, and healthcare. It would provide "lesser" job alternatives for people between jobs or just entering the job market. It would create opportunities for unemployed workers without raising inflation while providing a direct connection to balance the economy and capitalize on unused potential in the labor market.
Most of those jobs don't pay enough for the cost of living unless you live in a car and shower at a gym. Jobs + pay = less than living costs. Few people qualify for higher paying jobs without experience or skills to do them. Not everyone is smart enough or can afford college degrees.
People seem to be missing the point and misunderstanding the video. From a business owner's prospective, they want to be able to find talent without blowing the whole budget (and being able to find people). That's why we want 2-3% unemployment. That's not to say that those unemployed shouldn't have insurance, that's what (admittedly flawed) COBRA is for. And it's not the same 2-3% of workers unemployed. Think of it more as a rotation of people quitting their jobs to find a better one. Rather, dangerously low unemployment causes a race to the top with wages and thus inflation on the demand side.
What's the point of a "job" when you actually LOSE money (and TIME) by even having it? If you work for anyone but yourself, you're not simply working for free, you're wasting your most precious asset. UNFORTUNATELY, if you're poor, you CAN'T WORK FOR YOURSELF. You're a slave, and you'll always be a slave. That's how it is.
Videos on these educational topics when I am unfed & under constant threats of losing my housing are going to have to wait until I am in better circumstances for viewing. However I will cite the source here and now I know that it really is my own government working against me now and truthfully that will be preventing me from moving any more forward. Glad someone else credible news source here are now finally addressing the issues here. Because it's about time and actually it's been long overdue as well too.
I was informed that I qualify for food stamps as a student- $180/month which isn't much but it does help. Then DHHS called to say that the requirements are changing and I will need to work 30 hours per week to qualify 😒 they had no answer as to how to not max out my income limit working 30 hours or how in the hell I'm supposed to work 30 hours while going to school full time... So basically, I don't qualify for the meager assistance because I'm a broke student
@@DC-rd6oq for sure. I'm doing 20 hr/week between 2 jobs currently so I stay below the income limit $1600 monthly in order to qualify. When the state changes requirements, it seems like no one will qualify?? Maybe only people making less than $10/hr 🫤
@@Madamchief I think that is probably their point, although I think the income limit is too low especially if you're trying to pay for school or take out less student debt, which of course is a huge issue these days since getting an education is so expensive. I'm not sure, though, why you would work less just to get $180/month. If you're working 20/week and making close to $1,600/month, that's $18-20/hour. You'd only have to work 2-3 hours more per work for that $180/month. You'd be so much better off financially if you worked a total of 25-30 hours per week even though you wouldn't get the $180.
@@DC-rd6oq it's just too much for me to work full time and go to nurse school. I need at least 30 hours per week for class and study. I do have a mortgage to service so I only work as many hours as is necessary for the monthlies so I was stoked when I heard about student SNAP. Now I'm bummed I even bothered
@@Madamchief School is expensive so stop crying you're fine, some people can't even afford to go to school and here you are going on like life is sooooo unfair 😆
I would argue instead of a "Three-day work week," we should demand a "24-hour work week." Lest they try to cram 40 hours into three days. My office managed to demand a four day work week, and I was stoked... until we went from working five eight-hour shifts to working four ten-hour shifts...
@@nordinreecendo512 LOL True! However accounting/finance should have been mandatory in the schools since Sputnik and everyone concentrating on Net Worth instead of jobs and income. Planned obsolescence creates jobs and depreciation for economists to ignore.
@@psikeyhackr6914 Agree 100%, but unfortunately our education system doesn't serve the people, it serves capitalists. That's why they don't often teach critical thinking skills or financial literacy.
We are currently in another "Gilded Age", growing prosperity for a few, increasing abject poverty for many: very unstable, as upside-down pyramids tend to be. Our economy in recent decades seems to have been more about extraction than productivity. I am not a fan of the Fed, unelected, over-powered and arbitrary, if they think an economy is about numbers and not the people who make up the economy. They can't imagine, what they are missing from the amazing talent left unutilized. Surely a well-functioning, productive economy, starts with all those who work: the builders, not the bankers: the producers, not the extractors. "So the last will be first, and the first will be last."
To all those negative people who always get online to bully someone else to "get a job", have no idea how the job market works, those people situations, etc. And this is another reason why everyone can't have good affordable healthcare, housing, nice things and stable income. This isn't helping the American people stay employed, it's doing the opposite. Wishing everyone the very best securing careers or jobs in which they seek to better care for their families. 🙏
I find that politicians around the world are becoming more and more lazy and relying on central banks around the world to make a call on interest rates or printing money to keep the population ignorant of the fundamental problems that need to be solved. Inflation won't increase with full employment if wages don't increase. Take Japan for instance, they have been in deflation for decades despite really low unemployment rate of below 4%. If governments invest in infrastructure, it can generate more jobs, but it can also lower the output costs since roads, rails, and ports improve efficiency, hence lowering inflation on the long run. How about improving health care and output cost of medication? That can also lower inflation big time. But no, lets just keep the FED on "rate-cruise-control".
Uh, printing more money causes inflation. If you don't mention that, you're missing the point. Don't blame anything else without addressing money supply and government debt (which has tripled in 5 years).
The video title is “Why everyone can’t have a job” - so every single person cannot have a job? This obviously isn’t true. I’ll fix the grammar: “Why not everyone can have a job”
2020 - 2022 = Nobody wants to work anymore 2023 = The young generation are leeches. Look at them working 3 minimum wage jobs. Fire these leeches. Save the Economy.
My brother (who’s special needs) lost his job during the pandemic, and was unable to find another job. He eventually gave up looking for a job, and lives on government assistance.
Inflation can be wages, by not raising wages the employer can keep sales up, and profit steady. Product inflation is a supply, and demand issue. When the housing, and rental markets steps in with its own inflation crunch...that's it, game over. Perfect storm, no just wait for the credit card debt, and car loans defaults to pile on the pain. Then watch the money hoarders trying to run from one bubble to next bubble! Banks and other lending companies are a pivot point for all, someone ends up holding the defaulted debts, then the pain is shared, no loans, no employment, no exit.
If you're wondering what happens if you just keep interest rates ultra low forever and ignore inflation, that's pretty much what's been happening in Turkey
Wages aren't high enough. Also, unless you live close to the retailer or food joint, think of how much money you will need for gas and a car? You will get part time hours and all your money will go just toward transportation - what's the point?
There's a difference between real, productive, jobs and BS jobs; you can't make BS jobs without causing issues. It is possible to have Zero unemployment but you can't do it through stimulus.
Call me naive but I think if a country relies on a certain percentage of it's popularion to suffer without income and insurance, with no safety net, there might be something fundamentally wrong with that country.
Nutup or shutup buttercup. There;s only so many Twinkies in the world. And I love those little snack cakes.
Then I will call you naive. The US has never aspired to be the happiest country or have the best quality of life. The priorities of the US government are to maintain the largest economy in the world and to keep the system of power in place as designed. Our influence in the world is derived from the size of the economy and the stable government.
The US government is very successful by the terms of what it considers success.
@@cali_ryder4235 pause 🌈
Most countries operate within these norms unfortunately
? Everything is working as designed in that country.
It is outrageous that the powers at be tell people to get a job, but now they don't want everyone to have a job.
The government, through the Fed, systematically keeps a percentage of people in poverty to protect capitalism while blaming them individually for being poor.
And offer no help when you are unemployed
@@TheRealFemShady Exactly they want people to lose their jobs, but then turn around and say it's their fault that they lost their jobs and give no help. If their actions cause people to lose their employment, they should be directly responsible financially. If a business can sue you for loss of profits/business then an individual should be able to do the same as well.
And of course we can't forget that even if not everyone can get a job, you get bullied and outcast for not having one and also may or may not die since you need a job to live. And when you can't get one because of this system, you're blamed for it. Our society is totally functional :)
Capitalism necessitates a reserve army of labor so that employees feel expendable, as there is a horde of people clambering for your job and you should be grateful the capitalist has shown you such kindness to allow you to survive. Stay in your lane peasant; there's profits to be made and compassion isn't profitable.
Hard to be employed when you are disabled or constantly sick. Oh yeah, you know what else is a joke? When you work two jobs and still can't afford a place to live.
Were you a gambler trying to pay down debt?
You're looking at things the wrong way. You're seeing a circumstance as a ceiling when you should be seeing the circumstance as a hurdle to overcome. If you're working two jobs and can't afford a place to live, then you need to increase your skill set so that you're marketable for another job that will afford you a place to live. This is a type of thinking that is rare today, b/c in the last few generations kids were raised by Oedipal mothers who failed to teach them resilience while simultaneously doing everything for them. This dynamic leads to children who grew up into adults with weak mindsets and complain about any obstacle they face in life. Frankly, its unamerican b/c America was made from grit. Look at the prospectors and pioneers who went out West to find precious metals and settle the land. But, until you radically change your cognitive belief systems, you'll be stuck in this cycle called the lower middle class which is growing each year....
@@Chad_Max Oh yeah sure, and just cross the street to find a job. While you keep hoarding property worth 500% of what it was worth 40 years ago.
Have you considered moving?
@@machintrucGaming Seethe and cry more. I'm sure a house will fall in your lap once you turn red hot, or you could take the advice he gave, your life.
So when too many people are finally able to make a living and afford things that’s the signal to raise interest rates? Insane.
The employer-employee relationship is a very insidious dynamic. Employment is a rental contract. Like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
I pledge allegiance to the flag of the Corporate states of America and to the oligarchs for which it stands, one nation under debt, easily divisible, with liberty and justice for Oil
Amen... tal health crisis...
😂😂😂
"Go get a job you lazy loser!"
> Gets a job
"Wait, you aren't supposed to, else we risk inflation. Let me adjust those interest rates."
👍🏻
LMAO
Min wage is min skill. Go learn a skill to be more useful to society. You earn what you're worth.
@@SigmaBusMan QThe employer-employee relationship is a very insidious dynamic. Employment is a rental contract. Like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
makes sense. Watch as there are more people with college degrees than there are actual jobs in America alltogether.
@@SigmaBusManWHOOSH
If the end result is forced poverty for the Americans who aren't allowed to gain work, then the system is morally wrong and needs reworking from the ground up.
We've figured out the problem. The way our economy works relies huge populations doing unpaid labor and people having no purchasing power! Now that women and people of color actually can work and get paid properly, it's breaking the economy unless someone fills those unemployed spots. It's insane but POC have been saying forever that the system was built to fail us, finally everyone is seeing it.
The other choice for 100 percent employment is the USSR... before Glasnost, and before Gorbachev. Is that what you seek?
Yup 👍
@@rahuliyer7456 So it’s poverty or communism, is it?
@@rahuliyer7456 or become social democracy like Finland or Sweden or Denmark them doing just fine
the thing is that employers post new jobs but they just post it for their image and wont accept any.
It’s so they can avoid paying back their PPP loans and continue to gaslight the working class into believing we just aren’t working hard enough.
i would love to see CNBC make a video about the ruling class explaining why everyone can't or shouldn't be able to achieve financial comfort. 🤷🏼♂
Every executive is going to have financial comfort, by nature.
They keep you poor on purpose through direct taxes, and indirect taxes 'inflation', its so you will keep working until you die penniless.
Because people have babies at 22 and try to show off their 30k car they went in debt for.
I make about 50k before tax and live a pretty sweet life, I got my own apartment and I get to snowboard two times a week and hangout with my girlfriends.
They mathematically can, but the Financial and Banking cartels don't want any people anywhere to have any stability or financial freedom.
CNBC Can't make that video. There part of the ruling class to.
It's called the Reserve Army of Labor. They need to keep some unemployed as leverage to keep the minimum wage low.
Seeing class consciousness arise gives me a warm fuzzy feeling
Opposite of Freedom
Every job I've ever applied for had its own politics and social biases behind it. It's not about merit or qualifications.
It never will be. If people don't like you, they don't want to work with you.
Because of a department called HR
... it's who you know
Well yea, each company has an identity and a collective quantity of coworkers. Why would they want to hire someone who isn't socially correct or won't act well with others? Just sounds like you don't want to play the game of the job market and social standards aka you're acting privilidged rather than flexing.
Develop your merit and qualifications and it will be. You’ll write your own ticket.
Corporate Greed is driving inflation.
Everyone is greed, just human nature thing.
Because corporations can print money?????? Learn something before showing the world your ignorance
@@Mistro07 no, because corporations and execs own a majority and growing share of the nation’s money
@@Mistro07 inflation is not the amount of money in the market, it’s the prices of things, if the prices don’t increase, inflation doesn’t increase, corporations increase prices cause they want to, out of greed
How stupid hahahahaha money printing generates inflation.
They need people to suffer so that the rich can live their spoiled life.
I'm not an "eat the rich" hippie but I do theorize that the mega rich may be energetically feeding off the hurt and despair of the poor. This would partially explain why the rich have been actively trying to eradicate the middle class.
Exactly.
Wasteful. They like to call it spoiled but it is actually a very wasteful and selfish life.
How else can they fly into space. and if the public allows it to happen then why not. I wonder if Americans look down at countries where there the ultra rich and the poverty such as India... bc they never see the reflection in the mirror.
@@aznosu Well Americans look down at all systems that have an unbalance like that including America! Its crazy for there to be hungry ppl on the streets as the wealthy wipe their ass with gold lined toilet paper! Sickness.
Jobs in Ohio are paying $11-$17 for assistant managers. That's $23,000+ per year of income. Some insurance companies charge $8900 per year to insure two adults (without kids). Insane.
not insane bc Americans allow it. Americans allow the 0.001% to run it resulting in
1. a business of college to either put americans in debt (slavery) or most don't get the education so there are few opportunities.
2. Business of medical care, hence Americans are afford to use the medical system bc it will land them in Debt (slavery) which results in no waiting line or shorter ones for the wealthy who can afford it
3. fewer jobs than workers so that the top can force talents to work for less or you can eat.
It's clear what is happening and Americans support it bc they are sold that they will one day be Jeff Bezos lol.
Remember when you used to be able to support a family of 4 working in a sheet natal factory?
My grandfather's all made less money than me when factoring inflation, but houses were only a few thousand back then, not a few million.
American dream stolen by boomers
My grandfather was able to buy a house and feed a family just driving a Taxi. Now I work with circuit boards and microelectronic components that he wouldn’t even be able to name and I feel like owning a home is out of reach. Something ain’t right.
And the houses were built with better quality builders and materials then too.
Mine was a janitor and had a house built in Florida. We are being scammed they are stressing out the working class for profits to the top. It will backfire when none of us have kids.
The super wealthy just want all the money. They can't afford to get their 10th house and a second mega yacht and pay people and real wage. Apparently Amazon can't even afford to give workers bathroom breaks so that their CEO can afford to run his own space program.
The only thing that is preventing me from finding a job is these job interviews. Every single one I've been too its always the same stupid stuff. I go in, they ask me a bunch questions, and they say "We'll give you a call and see if you qualify for the job". Days and weeks go by and I don't get a single call back. I tried calling them a few times but they its just "We'll get back to you shortly". Feeling frustrated I told them I did a job interview with them a while ago and I wanted to know why is this taking so long. The response I got was "Well we did hire some people so I guess you didn't quality for the job" and I was left feeling very mad and felt like I wasted my time.
In my experience, they just say 'it's been decided that nobody is being hired at the moment". It always seems to be a bad time for companies when I'm looking for a job
The interviewers must be fired
I would work on ur interview skills then. Simple solution.
@@JohnWickWorld I do that and it still didn't make the situation better
My son has gone through this multiple times. They alway say he’s to shy. I really don’t get why that is a reason to not hire somebody. I’m very shy and it was commented about in my last job interview. I was lucky that one of the two interviewers didn’t care and had me hired anyway. 5 years later the interviewer that didn’t like me because I was shy is my biggest fan. She calls me the backbone of the facility I work at.
Ah yes. Applied to 57 jobs in a month and i got the worst one who didn't want me for full time and still hve me working 6 days a week and killing my car off for an 4 hour work day. Good job powell.
57 jobs postings and you only got offered one?
Fix your resume... get some technical skills.
Stop blaming the system when you are the problem
You applied 57 jobs in a month? Did you tailor a different resume to each company? Did you apply to jobs that fit your experience? Nowadays, people are looking for employees with specific skills. People seem to forget that you need to adapt and survive.
@Radicn have you heard of "ghost jobs" he actually only applied to 20 "real" job according to the numbers.
@@clairvoyantcards29 You can't just pull a random number out of your ass. Even with 20 real jobs, OP did not tailor the resume for each company. He/she is blaming others for his/her own failure.
@Radicn have you ever shifted through job applications lately? No? I have. 1 16 dollar an hour job got literally hundreds of applicants. Either the person looking through them spends 2 seconds on it, or it's autoblocked by a robot.
Only ignorant people look at that and go "it's your fault".
No, our system is broken.
You honestly think 57 applications is a lot too.... cute. I've known people to fill out thousands.
Some have even done journalism on it. Out of a thousand applications (for low wage jobs) they got maybe 20 job interviews.
It's alot more sinister, they also regulate how many people move up and out of poverty.
There’s more and more of a concern that incoming data is revealing that the Fed might be a little bit behind the curve than maybe they expected heading into this year,” said Bipan Rai, North America head of FX strategy at CIBC Capital Markets in Toronto. In my portfolio, I'm noticing more red than green. How are other people in this market raking in over $350k gains within months
Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a CFP or other professional for advice.
@@stephaniestella213 Yes, I have been in touch with a CFP ever since the outbreak. Today, investing in hot stocks is quite easy; the difficult part is deciding when to buy and sell. With an initial starting reserve of $80k, my adviser chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@@johnlennon232 my 401k growth has been stagnant since the 2019. I wouldn't mind consulting the advisor who guides you, I really want to grow my retirement fund since I could retire in 3 years.
@@oneiljerry9460 HEATHER ANN CHRISTENSEN is widely known. You can verify her and use her services if you want.
@@johnlennon232 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
A lot of words to say we don’t want to give poor people higher wages!
This is the greatest argument for UBI that I have ever seen
Agreed!
@@RockBrentwood fair
Why? Who is paying for it? If ubi becomes a thing, then we need the ability to lower our income tax because working people have to pay for others.
@@Rucnas start taxing the wealthy like they're supposed to. They don't do their part. They always want to put that on the working class to make up for what they won't do.
@@Rucnas Who pays for wars? Or aid to Africa?
No. When I was homeless I actually realized there are some people who are never going to be able to hold a job. They were poorly educated or had serious mental health issues.
Poor Educated is not the right word but mentally disabled is
@Black-xi5su No I mean poorly educated. Some of them were from the South, and this was after hurricane Katrina, looking for work and couldn't get a job because you needed at least a high school diploma to get a job here. They didn't have that!
@@shawnnewell4541 but are you working now is the question
@@Black-xi5su I'm retired.
Never say never
So the the rich DO get richer and the poor get poorer 🤯
Who would’ve thought right?
they literally came out and implied their goal is to keep wages as low as possible
Sorry you and your kids gotta sleep on the sidewalk, it’s for the economy 🎉
It should be worth a reminder that labor costs are just one factor in prices, not the sole determinant. Also, in a consumer economy, higher wages tends to mean an aggregate increase in demand. In the short term this can mean upwards pressure on prices, but in the long term it often means more growth to accommodate the newfound demands of a prosperous working class.
Funny 4 years ago everyone was working, people were making money and saving money and we had low inflation
@@ralphpal You are not accounting for some of these companies increasing prices just because they can. For instance oil executives have been recorded in shareholder calls about how they are making more money than ever before in history and they think they can continue to raise prices. Workers are not getting that money. It is just a wealth transfer from regular people to the ultra wealthy. Apparently more of them need to be rich enough to run their own space program.
Instead of looking for 2% inflation- why can they raise that # like they do everything else .
And for them to say they cannot determine when does it becomes inflationary with the amount of people working ..
@@MrHammer2088 It is easy. Companies raise rates and take more profit for themselves. The Fed sees inflation and then takes it out on the workers. Companies spend more money on politicians to drive labor costs down further by making people more desperate. It is why wages are basically stagnant for 40 years while productivity has skyrocketed and the rich have gotten so much richer. To the point where about 8 people own half the planet.
If I can’t have a job then give me Universal Basic Income. I got to pay the bills somehow.
That would cause more inflation and less people seeking jobs....
Ok, basic question here. Why would you want to advocate for a system that doesn't at a bare necessity level keep a roof over everyone's head? I don't understand.
Or in other words, or system really is designed to keep some people poor
Or in other words, designed to keep the rich rich, and keep the poor poor
This employment problem is an antiquated system as real wages have gone down over decades so companies can easily afford to hire more employees than they would have been able to 40+ years ago. The middle class has devolved from a level that meant you could easily retire early as an option to now where even the upper middle class is pay-cheque to pay-cheque. Year after year we constantly hear about the wealth gap widening... it never seems to end, and it's the ones setting monetary policy and interest rates that are partly to blame for it. Others to blame are the politicians and lobby groups and all the mega mergers that create oligopolies and near monopolies. It's the ultra wealthy that own media companies that control the information we hear to placate the populace and always have someone other than them to blame or constantly shows reports that seem to blow up small stories into huge coverage that hides important stories that may only get 20-30 seconds of coverage compared to the hours and days of dumb filler news coverage.
Why do we have a 2% inflation rate as a standard? Because of Capitalism. It erodes the value of money but allows assets to grow in value. So wealth grows for those with assets while those just earning wages living pay-cheque to pay-cheque will never build wealth, unless they take risks with their money. But even having assets are at risk as fraud by police, criminal organizations, neighbours, and by bad laws that exploit certain groups of people all transfer wealth away from the earners to the wealthy.
I understand how the concept of max employment seems to be a good thing, but it's more geared to help businesses and investors than the wage earners. So again this helps the wealth gap widen. If the policies also affected the wealthy equally then the problem with max employment wouldn't be such a problem. Because the economy is so dependent on investors, executives are sort of held to their whims and expectations, so doing anything other than widening the wealth gap just goes against the intent of investors. So I get that the system won't change from a corporate or investor areas of the economy, it all rests on the government to set policies that mitigates the erosion of the economy.
I think 2 % is standard rate of inflation because most people only get a 2% raise . So you get a raise but not really ...trap
I think we are too obsessed about the economy crashing. In the right sense, the economy never crashes. It just undergoes cycles, and almost always recovers. So I really don't care what the predictions are. I just want to grow my $354k portfolio. I read that people are pulling in massive profits despite the downturn. Any tips on how they do it?
There are really advisors that can help you achieve very consistent growth. I have a friend who pulled in more than $194k profit within three months. So you just have to make some research and get one who fits your fin-goal.
The market will always recover. The goal is to find quality stocks with long term potential. It's hard for the average Joe to do this, because it involves following a lot of industry news, following up with earnings, etc. It's easier to invest through an advisor who knows how stuff works, and make rocket returns.
@@bsetdays6784 Wow. I'm very much impressed by this. I've been planning to switch to an advisor. Could you give me your advisor's contact, please?
@@evitasmith6218 I work with ELEANOR ANNETTE ECKHAUS. First saw her on a CNBC interview. She's got a really excellent pedigree, and her track record is good, too. You could look her up yourself and contact her. I can''t drop her number here.
Thank you for this lead. I just looked her up and she seems to have very good credentials. I'd heard about her speak once in a conference. I'll follow her up with an email.
So the matrix exists after all. The worst part is we know it exists, that we live on it, we put people in power to control us, we let them rule the matrix and we pretend they are working for our good. This Matrix 2.0.
Perhaps corporations could absorb higher wages by deflating C-suite compensation, not always inflating prices. Or the government could tax the snot out of that bonus money (55-65%) and use that to reduce taxes on the average worker, thereby giving them at least a little more money to fight back with. Also raise the corporate tax rate on businesses, especially those that inflate prices of goods without reducing executive compensation, they clearly have extra cash to hand out. Feel the Bern folks.
Keep dreaming, they put tax write offs and pay 0.1% of the taxes. Unless you say that tax with no write offs and no bureaucracy in the IRS.
Can't keep printing money and expect lower inflation smfh
Thank you for these (kinds of )videos!
I really appreciate the new brand of truth they are giving to the general public.
Finally, we're getting to a place where as a society we HAVE to stop blaming poverty on the impoverished!
Its NOT because we're lazy, not trying hard enough, or not booting strapping.
Its because poverty is an EVIL necessity in this society. This means those that have more are running out of excuses for their good fortune and simply NEED to do MORE to help those that are less fortunate.
The Fed needs to stop raising the rate. The only people that is hurting is the middle and low class.
That's the plan. You will be sacrificed for the greater good...the millionaire/billionaire ruling class. Get used to it.
Bailing banks out too. Ridiculous.
No, they need to raise the interest rate to 10-15%. Keeping it low is what destroyed the economy. I know it's going to crash everything but the system they created with low interest rates is unsustainable so it has to fail sometime.
@@mangjitnijjhar1390 The economy was doing just fine till they started raising the rates. People had the money to spend on every day living expenses.
it just creates more of a gap between the classes. It does not matter to the wealthy, but it matters to the people that live pay check to pay check
@@Martin-fk5og But the low rates were driving up the cost of housing and making it easy to use houses as speculative assets.
One day the history books will record that the Fed’s manipulation of our currency led to the a similar collapse as the Soviet Union’s centralized economy. You can’t plan an economy.
So basically to steer the boat you fire some of the guys rowing on one side to start going in that direction and vice versa and hire as little as possible in order to keep the rowers desperate for work.
25 years ago I told my colleagues at a small city newspaper they should start preparing for online news. I dove head first into front end design. It freaked ppl out and I got called into HR for starting a panic. Guess what?
Damn
what? how you saw future?
I hope you invested. You must be rich with that forward insight.
They no longer exist?
2% inflation rate is joke. It means worker never getting a raise. The worse time I’ve had in my 33 year working life was during the 2% inflation years. My husband and my pay was the same for almost 10years but everything was still going up especially health insurance. I know a lot of people are hurting now but we finally got ahead far ahead. My raise in the last two years was almost enough to pay my mortgage.
It's a false premise that you avoid inflation by having some people get laid off. If everything is a monopoly and being run by automation you can get inflation even with everyone being unemployed. Making the weakest people in society suffer doesn't stop inflation.
I've been doing some research, and now I can't un-see how all of America's economic issue are due to fiat currency, the Fed and financial sector's complete incompetence - or, how the "market" is designed to keep the rest of us in anxiety and fear over how we will be able to support at least a minimal comfortable lifestyle while the ruling class has more money than they can spend in a billion lifetimes. This idea that the lowest on the totem pole need to keep making sacrifices - like "Some of you will just not have jobs to keep inflation down." is just beyond...and a false narrative.
So if a system requires people to be without a job perhaps we need a new system
Personally, I've been interested in two grassroots groups focused on economic democracy, called the Next System Project and the Democracy Collaborative. They have devised a way to keep production local and contract service to cooperatives, called the Preston Model. They have helped multiple cities struggling with job loss due to factory closures build back their communities, in the US and UK. In addition, trade unions, collectives, public banks, credit unions, community land trusts, CSA's, and many other democratically controlled institutions can work together to create democratic networks outside the market to create an economy that doesn't reduce people, their governments, and the environment to a monetary value. I think this can be a viable strategy to give people the autonomy over their work. I believe economic democracy is the only way people who work for the economy will have the economy work for them, their families, and the planet too.
During economic downturns cooperatives seek to preserve jobs instead of laying off their members... because they're members are the owners who make the decisions. This way of revitalizing communities by building community wealth has helped many communities all over the globe, and it is utilized by the UK labor party and touted by Jeremy Corbyn. Preston, Lancashire became the most improved city in the UK because of community wealth building. czcams.com/video/MObfh_VNqs4/video.html
Not to mention, much of the progress in labor rights has been due to union's collective power. The thing that draws my conviction to the movement is that I can see it now, helping empower people to live happier, healthier, and wealthier lives.
Is it just me, or is anyone else really tired of the rhetoric revolving around squeezing the little guy? Why isn't there more "in depth" coverage of the wealth gap, the percentage of income from a ceo to their lowest paid worker, conversations about windfall taxes, etc... etc... etc...
Watch videos of Robert Reich (former labor secretary) if you're hurting, he's saying what you're feeling.
This entire job market and how it operates under Capitalism is so stupid. In a world where you must work to survive, we purposefully keep all people from finding a job because they're scared of the volatile economic system that we work under.
Yes can you imagine people starving and being homeless because the economy "needs" that to function, its a failed system.
We have to throw more people into the orphan crushing machine to keep the system running. You are right that our system is evil. It doesn't have to be this way though. EU countries are capitalist and they have better upward mobility than we do and they still managed to provide more generous systems to help people who have lost their jobs or can't find one.
@Immudzen You're right. Those countries put people first even under Capitalism. Ours does not.
We all can't be winners. The system won't allow it 😢
The system needs to change sick if this crap
CNBC is absolutely sickening...
The Great US Reccession is coming
Its already here
That already happened in 2008. Need to think of a new name
This is just like sacrificing a virgin to the swamps/volcano to appease the god of bountiful harvest but now instead of single person, a calculated percentage of the population gets sacrificed to appease the gods of excel line graphs.
Such bull, instead of focusing on limiting common worker wages why not focus on millionaire/billionare profits and corporation profits. wake up people.
You're so right, we need to move away from a liberal economic system
Essentially everone cant have a job, because then it will be hard to find workers for new jobs that arise. Raising the pay of that particular job. Then raising inflation. That's bad.
But it's completely OK to not have the fed regulate corporations that are price gouging like fkn crazy and the main issue of inflation right now.
Regulate people not corporations...America is an autocracy
Flipping burgers or working minimum wage at Walmart or lowes or home depot isn’t…. Well ideal I guess
@CW that’s what happens when America shifts into service economy. China and other countries are doing real work and producing products
@@rephaelreyes8552 cuz ut is cheap and slve labour laws are very lax
people who work at home depot should starve and go hungry - brainwashed Americans
Lol people are asking for too much for low level jobs. These are entry level jobs, yet people these days want mid level pay. No wonder most of these jobs are being taken over by robots. 😂
Love it when people who have clearly never worked in a commercial kitchen dismissively refer to kitchen work as "flipping burgers" as if it were unskilled labor anyone could do. I know you were referring specifically to fast food, which is kinda paint-by-numbers simple, but the generally dismissive attitude toward labor, and the trades specifically, is one of the reasons that we have had a decades long labor shortage in multiple industries (including restaurants).
Restaurant owners have been complaining about the inability to find qualified workers since I had my first kitchen job in the '90s, yet over all can't seem to make the connection that they aren't paying people enough to work a job that is stressful and takes years of training to get good at. We have a looming crisis in carpentry because almost no young people want to destroy their bodies for $30 an hour. The average carpenter is in their late 50's to early 60's.
Keep sneering at labor and insisting that these jobs only deserve minimum wage. I'm sure that will help fix the decades long worker shortage that is approaching crisis levels in some fields.
Interesting that we're talking about employment driving inflation. As if companies haven't had record profits also.
The employer-employee relationship is a very insidious dynamic. Employment is a rental contract. Like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.
They should just control how much corporations can raise prices
which they won't do because corporations bought your government
That's been done before, it's known as price control. What occurs is a reduction in production. Companies stop producing goods and services. It doesn't work. Profits drive buissness. What did work was taxing companies at a fair rate incentivizing them to invest profits. We need buissness to invest in labor, high wages means more buissness as folks have discretionary funds to burn. Biggest issue is profits are going to shareholders instead.
You can't get the experience if you can't get the job.
Than employers have the nerve to say "Well nobody wants to work..........." F out of here.
Inflation is much more complicated than just employment levels. It's too much cash in the system, which can be caused by many things such as sharemarket gains, property gains, government stimulus and recently the addition of fake money (crypto).
Lol "fake money crypto" ... I thought they were digital chucky cheese tokens.
oh my god. the stimulus did not add that much money to the system. A FEW payments of $1400 to people at best helped people make some impulse buys or buy some crypto, but for many that is LITERALLY one single month of rent. We know that much inflation is actually supply issues from the pangea and war in ukraine and corporate profits!!
Let's just ignore corporate profits. Yeah that probably doesn't have any affect on inflation. Bailing out speculative investors is probably fine too. Yeah the workers are def the problem here.
Fr according to these sources, we have like 3 years with issues on the demand and supply chain and somehow nobody in the power talks about solving it, maybe because it is a lie to protect coorporative greed?
I need more videos to explain how too many people working is problematic. . . For research
I don’t get either. If that’s the case why do people put the unemployed down and why isn’t the better way to take care these people.
@@ae4116 after watching a few other videos about banks, the closest thing I can guess is to keep nothing ever paid off, to keep it where the idea of making money from nothing continues . . . If every body had a job and paid off everything they’d want and need their wouldn’t be any need to work… so I guess it’s the same as putting somebody on the beach if the team is up 20 points or something idk
@@CareerDropout. it’s hard for the lower class to start off with no debts. I’m trying to keep my kids from having them but unfortunately one of them is having to get student loans. I can pay for things like housing, a car, and car and health insurance, unfortunately I can’t pay for tuition too. He took a HVCH course in high school and then Covid hit. It didn’t help him get a job when he had little hands on instruction and for some reason employer really hate that he shy.
@@ae4116I’m gonna have to think about this
Okay this might be an option but I’m still unsure. . . For those who pay off their debt and are benched when their team is up, those on the opponents team who’s expected to get off the bench, entering the game after seeing their team run them into the ground, those people should be granted the same salaries of those who’ve got the lead by advantage. Therefore if those whose entering the game after their own team blew the game will determine if they’ve learned from the mistakes of others, or just wasn’t paying attention at all. . . Start them off under the same pressure as their desired salary
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So essentially what you are saying is that never give the workers the power demand what they should earn and that power should be exclusive to the employer.
Precisely.
Job losses clustered in the crumbling industrial heartland where jobs comparable to those of the past no longer exist. We traded good jobs with strong wages and benefits for cheap imports at big box stores...thank you corp. Am. When manufacturing jobs vanished they are replaced by low pay service jobs. High-tech firms, the last bastion of fruitful careers, employ far fewer workers than industrial giants in past generations (and even those positions are at risk from artificial intelligence).
2% inflation is a purely arbitrary target. Why is it better to have 2% inflation and 5% unemployment than vice-versa? I have asked this question to many people incl PhD economists and have NEVER gotten a satisfying answer that went substantially beyond “inflation bad”. If wages rise in lockstep, 5% inflation is a nothingburger.
I think it because inflation is like compound interest and 2% is manageable near liner growth while 5% accelerates away exponentially. Put the 2% and 5% into a online compound interest calculator and you will see the difference.
@@jimpaddy79 But again, my answer is,so what? as long as your wages also grow by 5% its totally irrelevant
@@value4363it more complicated then that because of loans and investments, if I loaned you money and you agreed to pay it back in a years time I would lose value because the money you paid back would be worth less because of inflation so i would have to charge you 2% interest to get the same value back, now if inflation was 5% I would need to charge 5%. This means you would need to earn a higher profit or RoI. Also 2% gives a safety margin, if inflation rises in the short term its not the end of the world, while because of the compounding if inflation rose much above 5% prices would start changing very quickly which fuels further inflation and starts pushing you towards hyper inflation which is impossible to break out of. Finally at 2% the prices of thing change slow over time, so its easy to judge the value of things, while with 5% because of the compounding price would change dramatically over time and every 20 years you would need to add a zero on to the bank notes. Hope this helps
In your scenario inflation would likely spiral out of control. If wages rise in lockstep, remember, those wages only apply to the employed. The unemployed, the underemployed, the retired, would all suffer significantly as would those at the lowest income levels.
Optimization will ruin humanity. As we become more and more data driven as a society and tech driven, optimization will not allow for the maximum good of society, only the maximum productivity based on maximum profit margins with minimal expenses. You can’t min-max humanity.
Capitalism is consistently unstable. We're talking about people who are the metaphorical "shock absorbers" of our system. We accept this. We allow these low wage workers to absorb the shock of these corrections every 5'ish years. Their lives are in a constant state of stress and anxiety as they scramble to provide for themselves and their families. BTW "they" used to be "me" too. But I lucked out. And I might not be so lucky forever.
This is a feature of the capitalist system.
We can do better than capitalism.
This is just the wrong conclusion. They printed too much money, not we have too many jobs. So there is no correct number of jobs to fix that.
here in canada we are forced to leave our job for someone else to take it who just came to this country me and several of my old colleagues got let go and when we checked why it was the stupidest reason and made it impossible to get ei as well after working with them so long and on top of that instead of housing the homeless canadians and americans we are forced to live on the streets while those coming from other countries get our houses and than to hear them complain about us is insane
"Get a job!"
*Gets a job*
Fed: No, don't do that!
“The second aspect of the development of the market in labor involves the separation of workers from their instruments of production. By the time of the American Revolution when private property was the rule, the ownership of the means of production was still quite widespread. About 80% of the nonslave adult males in the United States were independent property owners or professionals - farmers, merchants, traders, craftsmen or artisans, businessmen, lawyers, doctors, and so on. By 1880, this figure had fallen to 33% and, at present, more than 90% of all adults in the labor force are non managerial wage and salary workers. In the course of this transformation to a wage-labor system, the family farm fell to corporate agri-business; craft-organized shops were replaced by the factory system; and the services became bureaucratized” (“Schooling in Capitalist America” by Samuel Bowles & Herbert Gintis page 59). In short, America started out as a society of self-employed laborers with their own property independent of any kind of managerial control. Today this is all, but virtually gone.
Maximum employment is forbidden in the United States because the entire economy is based on slave labor and it always has been. The only reason why the quality of life for the workers has improved during the 20th century is because hydrocarbon fuels have been doing a lot of the work that slaves used to do. As hydrocarbons become more scarce and expensive, the slaves will again be forced to do more work
With an acronym JOB (just over broke) and everyone can’t have one? I’d consider that a good thing!
"JOB = Just over broke" 😂 That's a good one.
Jeopardizing Ones Brilliance
This entire video is pro business propaganda. Everyone could technically have a job, they just don’t want you to know that.
No. An affordable job is very difficult
Paul I agree. What we should do is those who do not have a job in private industry we could pay them $100,000 per year with 4 weeks of paid vacation and 12 paid sick days per year. All they would have to do is show up at an assigned vacant warehouse everyday and join the union to qualify for this job. They could stay all day and read books, watch TV or play cards. If they stayed longer tan 8 hours we could pay them time and a half. After 20 years of being productive they could retire and collect a pension. These people would feel good about themselves and lead a meaningful life.
@@DLCS-2 Again propaganda, look at the relation between company profits and wages. They couldn’t be any further away…
@@coffeecup3177 sarcasm I see. Have you never heard of Civilian Conservation Corps, Civil Works Administration, and Works Progress Administration…
All national programs that paid well, helped the economy, and helped society…
Those programs were really effective because US was still a manufactoring economy and they were through a massive economical depression tho. But yeah, there's no excuses for the goverment to help insentivate people to get more useful and skillful training that can adapt to the modern economy and open a path for future fields. US government is a huge pile of crap sadly.
**Nice video.... I have been trading for months now. I keep making more loss than profit. Is the signal or do I trade wrong coins pls I need some kind of assistance OR advice on what to do?
Most people today have been having a lot of failure in forex and crypto sector because of poor orientation and bad experts
One could work for 35 years to have $1M in your retirement, meanwhile some people are putting thousand of dollars in a meme coin and now they are multimillionaires. Think probably will get back to normal trades
I wonder when we'll start measuring the national unhoused rate, a measure of the percentage of Americans who are homeless. And then we can have videos like these explaining why not everyone is allowed to be housed.
Or a national hunger rate. And propaganda to explain why it simply wouldn't work for all Americans to be able to eat food on a regular basis.
Why don't we skip the bullsh*t and just start voting on who to offer up as a sacrifice on the altar to the almighty economy?
Wages have not kept up with inflation for at least the past 50 years so how is wage growth honestly considered a driver of inflation? Corporate profits keep growing. In 1994, the average S&P operating margin was 5.5% and today it is 11.5%. Each company in the chain is keeping more money for its shareholders and paying costs along to the next company that is also keeping more money until the additional costs of all the money kept by each corporation is finally passed on to the consumer. Rather than relying on suppressing wages when inflation gets out of control, we should focus on suppressing operating margin.
For anyone looking to deep dive into this economist Stephanie Kelton wrote a book called The Deficit Myth that addresses the Fed and its inability to balance inflation with job availability. She proposes creating a government workforce pool that people can fall into between jobs that would specialize in building infrastructure, developing public utilities, education, and healthcare. It would provide "lesser" job alternatives for people between jobs or just entering the job market. It would create opportunities for unemployed workers without raising inflation while providing a direct connection to balance the economy and capitalize on unused potential in the labor market.
Yeah I'm not buying this. Companies have record profits and you're telling me everyone can't have a job? Nope. Do better.
I don't think anyone has a job, highways are packed all the time people going somewhere.
Most of those jobs don't pay enough for the cost of living unless you live in a car and shower at a gym. Jobs + pay = less than living costs. Few people qualify for higher paying jobs without experience or skills to do them. Not everyone is smart enough or can afford college degrees.
People seem to be missing the point and misunderstanding the video. From a business owner's prospective, they want to be able to find talent without blowing the whole budget (and being able to find people). That's why we want 2-3% unemployment.
That's not to say that those unemployed shouldn't have insurance, that's what (admittedly flawed) COBRA is for. And it's not the same 2-3% of workers unemployed. Think of it more as a rotation of people quitting their jobs to find a better one.
Rather, dangerously low unemployment causes a race to the top with wages and thus inflation on the demand side.
What's the point of a "job" when you actually LOSE money (and TIME) by even having it? If you work for anyone but yourself, you're not simply working for free, you're wasting your most precious asset.
UNFORTUNATELY, if you're poor, you CAN'T WORK FOR YOURSELF. You're a slave, and you'll always be a slave. That's how it is.
Videos on these educational topics when I am unfed & under constant threats of losing my housing are going to have to wait until I am in better circumstances for viewing. However I will cite the source here and now I know that it really is my own government working against me now and truthfully that will be preventing me from moving any more forward. Glad someone else credible news source here are now finally addressing the issues here. Because it's about time and actually it's been long overdue as well too.
I was informed that I qualify for food stamps as a student- $180/month which isn't much but it does help. Then DHHS called to say that the requirements are changing and I will need to work 30 hours per week to qualify 😒 they had no answer as to how to not max out my income limit working 30 hours or how in the hell I'm supposed to work 30 hours while going to school full time... So basically, I don't qualify for the meager assistance because I'm a broke student
A lot of people work full time while going to school full time. But you're right, you probably won't qualify for food stamps then.
@@DC-rd6oq for sure. I'm doing 20 hr/week between 2 jobs currently so I stay below the income limit $1600 monthly in order to qualify. When the state changes requirements, it seems like no one will qualify?? Maybe only people making less than $10/hr 🫤
@@Madamchief I think that is probably their point, although I think the income limit is too low especially if you're trying to pay for school or take out less student debt, which of course is a huge issue these days since getting an education is so expensive. I'm not sure, though, why you would work less just to get $180/month. If you're working 20/week and making close to $1,600/month, that's $18-20/hour. You'd only have to work 2-3 hours more per work for that $180/month. You'd be so much better off financially if you worked a total of 25-30 hours per week even though you wouldn't get the $180.
@@DC-rd6oq it's just too much for me to work full time and go to nurse school. I need at least 30 hours per week for class and study. I do have a mortgage to service so I only work as many hours as is necessary for the monthlies so I was stoked when I heard about student SNAP. Now I'm bummed I even bothered
@@Madamchief School is expensive so stop crying you're fine, some people can't even afford to go to school and here you are going on like life is sooooo unfair 😆
We should have had 3-day workweek by the 90s and mandatory accounting/finance in the schools since Sputnik.
I would argue instead of a "Three-day work week," we should demand a "24-hour work week." Lest they try to cram 40 hours into three days. My office managed to demand a four day work week, and I was stoked... until we went from working five eight-hour shifts to working four ten-hour shifts...
@@nordinreecendo512 LOL True!
However accounting/finance should have been mandatory in the schools since Sputnik and everyone concentrating on Net Worth instead of jobs and income. Planned obsolescence creates jobs and depreciation for economists to ignore.
@@psikeyhackr6914 Agree 100%, but unfortunately our education system doesn't serve the people, it serves capitalists. That's why they don't often teach critical thinking skills or financial literacy.
Almost anyone who wants a job can have one, almost. If that isn't a broken system, I don't know what is.
I aced five economics courses in four years of college, I used reading economics to put myself into sleep
Did you pass an English course??
That's cool and all but forgot to mention corporate profits are record high
We are currently in another "Gilded Age", growing prosperity for a few, increasing abject poverty for many: very unstable, as upside-down pyramids tend to be.
Our economy in recent decades seems to have been more about extraction than productivity.
I am not a fan of the Fed, unelected, over-powered and arbitrary, if they think an economy is about numbers and not the people who make up the economy. They can't imagine, what they are missing from the amazing talent left unutilized.
Surely a well-functioning, productive economy, starts with all those who work: the builders, not the bankers: the producers, not the extractors.
"So the last will be first, and the first will be last."
To all those negative people who always get online to bully someone else to "get a job", have no idea how the job market works, those people situations, etc.
And this is another reason why everyone can't have good affordable healthcare, housing, nice things and stable income. This isn't helping the American people stay employed, it's doing the opposite. Wishing everyone the very best securing careers or jobs in which they seek to better care for their families. 🙏
I find that politicians around the world are becoming more and more lazy and relying on central banks around the world to make a call on interest rates or printing money to keep the population ignorant of the fundamental problems that need to be solved. Inflation won't increase with full employment if wages don't increase. Take Japan for instance, they have been in deflation for decades despite really low unemployment rate of below 4%. If governments invest in infrastructure, it can generate more jobs, but it can also lower the output costs since roads, rails, and ports improve efficiency, hence lowering inflation on the long run. How about improving health care and output cost of medication? That can also lower inflation big time. But no, lets just keep the FED on "rate-cruise-control".
Uh, printing more money causes inflation. If you don't mention that, you're missing the point. Don't blame anything else without addressing money supply and government debt (which has tripled in 5 years).
The video title is “Why everyone can’t have a job” - so every single person cannot have a job? This obviously isn’t true. I’ll fix the grammar: “Why not everyone can have a job”
2020 - 2022 = Nobody wants to work anymore
2023 = The young generation are leeches. Look at them working 3 minimum wage jobs. Fire these leeches. Save the Economy.
My brother (who’s special needs) lost his job during the pandemic, and was unable to find another job. He eventually gave up looking for a job, and lives on government assistance.
Inflation can be wages, by not raising wages the employer can keep sales up, and profit steady. Product inflation is a supply, and demand issue. When the housing, and rental markets steps in with its own inflation crunch...that's it, game over. Perfect storm, no just wait for the credit card debt, and car loans defaults to pile on the pain. Then watch the money hoarders trying to run from one bubble to next bubble! Banks and other lending companies are a pivot point for all, someone ends up holding the defaulted debts, then the pain is shared, no loans, no employment, no exit.
The sound quality of the voiceover is really not to the TV standard. Please use a better microphone or better background noise reducing software
I just watched this whole video, and I still don’t understand what’s going on. 🤷🏾♂️
If you're wondering what happens if you just keep interest rates ultra low forever and ignore inflation, that's pretty much what's been happening in Turkey
Every retail or fast food I’ve been say cant find workers with now hiring signs people just don’t wanna work especially min wage jobs
Of course because the wages are not high enough for people to help pay their bills given how inflation and interest rates have gone up.
Wages aren't high enough. Also, unless you live close to the retailer or food joint, think of how much money you will need for gas and a car? You will get part time hours and all your money will go just toward transportation - what's the point?
If that's true then how is unemployment low and labour participation high?
Us paying the federal government to over saturate the work force with South Americans.
There's a difference between real, productive, jobs and BS jobs; you can't make BS jobs without causing issues. It is possible to have Zero unemployment but you can't do it through stimulus.