| Political Conversation and Debate This forum is not a temporary one. It will exist up to, and after the presidential elections. Some people want to talk or even argue politics, other's don't. Let's see if we can apply some reason and understanding to the debate. |
08-06-2004, 12:08 PM
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You probably don't think I'm a very nice guy...
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Why hasn't our business expert BrutuStrength linked this new article?
one of the good things about this board are the frequent updates on the nation's economy by BrutuStrength. I guess he forgot about this one. 
http://story.news.yahoo.com/news?tmp..._nm/economy_dc |
08-06-2004, 12:10 PM
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Favors Banning
Senior Moderator
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Oops. Time to raise the Terror Alert. Or start another war. What's Iran up to these days?
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08-06-2004, 02:27 PM
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True Madness Requires Significant Intelligence
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One of the bad things about this board are the frequent remarks from the crown prince of negativity, Tibor.
We won the game, you only won by three.
Job growth is up, it is only up 32,000 jobs.
We are here to debate and exchange ideas, he is here to criticize.
I think you get the picture. The way I see it is that there 32,000 more people with jobs that can contribute to the economy and support their families.
Unemployment is at a two year low. 131 million people have jobs. Oh my god, the sky is falling.
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I would rather rely on my ability to produce, than the government's ability to provide.
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08-06-2004, 02:32 PM
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Haole in da hills
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tibor is just worried that he may not be able to get unemployment when his 7-11 fails...
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08-06-2004, 03:27 PM
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The bicycle thief
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Nola:
Most economists, including Larry Kudlow, were expecting the creation of 200,000 for the month. On top of that, the previous two months job figures have also been adjusted downward.
I am more than confident you have also noticed the market's nose-dive for the last few days (-2%) and now it seems that the feds will also increase the rate, yet again, when they meet next week. In addition to that, energy prices are sky-rocketing.
Most importantly, despite the well-advertised pick-up of jobs growth, recent trends in real wage income remain very disappointing, underscoring one of the most serious shortcomings of this recovery, an unpresedented shortfall of the most important piece of personal income growth, wages and salaries.
Also, it is reported that the job creation since late 2001 has been concentrated in low-paying industries such as hospitality, education and personal services, while job losses have hit higher-wage sectors such as transportation, manufacturing, utilities and natural resources.
Another very important consideration, in my opinion, is that much of the political focus has been on the outsourcing of service and manufacturing jobs to low-wage countries, while the real issue shouldn't be the flow of jobs abroad but the impact of those labor markets at home. As a consequence, the threat of labor competition in China and India is preventing prospective workers in the US to find suitable opportunities in their respective industries and limiting the currently employed ones from bargaining up their wages.
You and I seem not to be severely impacted by these disturbing trends, but a lot of different people are feeling the pain.
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08-06-2004, 04:56 PM
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True Madness Requires Significant Intelligence
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USC
I agree it is not all sunshine and roses.
It is not all grey sky either.
If the BLS starts to report job losses as opposed to growth then I would agree we are in trouble. The prediction of monthly job growth is a crapshoot at best. It is one thing to talk to companies that say they are going to hire 5,000 workers. It is another to say the economy should create 200,000 new jobs this month. We get hung up on the numbers each month while ignoring the trends and realities of job growth.
I watched CNBC at my workout today and there was a manufacturer from WI mentioning they were having a hard time finding qualified applicants. The web and local newspapers are filled with medical jobs that go wanting. I have a friend that works for GoodYear who is working 60 hours a week now. I have executive recruiters calling me asking for specific types of workers.
You and I agree on one thing, manufacturing jobs are leaving this country and will not be replaced. The days of graduating from high school and getting a union job with wages that increase with seniority are over. Some white collar service jobs have met the same fate. If you have limited, stagnant skills, are not willing to move, not willing to travel or can't provide additional value your wages will go down.
You know I think people should save some money, increase their skills and be prepared for the worst. My friend is talking about buying a new car with his overtime. He is in his 40's with nothing more than a high school diploma. When I suggested he look into training for another field his comment was the usual, he was to old to try something new.
We are a Wal-Mart nation that wants low priced goods but high paying jobs. I do not see how that will happen.
Do you think you and I are lucky, risk takers or willing to work harder and longer than the average Amrican? I would like to think it is a little of all of them. As we have discussed I have saved for the "rainy day". I am always trying to acquire new skills. I am always networking. My customers are the manufacturers and distributors that are facing this economic pressure. IT is one of the first things cut. I view my job and my company as one step away from joining the ranks of the outsourced unemployed. If that is the case I think I will be prepared to not be in that situation very long.
Once a month I spend a day searching the web and newspapers checking on jobs, real estate prices and things like that. I'll probably do it this weekend. I'll let you know what I find.
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I would rather rely on my ability to produce, than the government's ability to provide.
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08-06-2004, 06:00 PM
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Banned
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Bucknola:
Good post.
P.S. For those of you who haven't read "Rich Dad Poor Dad" I suggest you check it out. Bucknola has hit on some key points.
- Have a skill set (Be dangerous at something)
- Never quit learning (Learn to do a career transition as I did, if needed)
- Learn to manage your risk (Extra Money for the bad times (i.e. layoffs, etc), (Learn to manage risk in the business you are running)
- Have another business (Real Estate, Stock Market, Options, etc.)
The days of free lunch are over. The manufaturing jobs are going overseas because our economy is continuing to evolve. For those of you that are in school study hard and develop a good work ethic. For those of you that don't want to go to college right away, go to the military and be proud of something. Hold an M16, defend democracy. Live the dream. |
08-06-2004, 06:20 PM
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The bicycle thief
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Bucknola:
I love your posts. You're the man!
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