I believe that the biggest problem right now is labor. Everywhere I look, and in my own business it is extremely difficult to find people to work -- let alone good people. In some positions I have doubled my wage rates -- yes, DOUBLED, and I'm still getting people who are getting more in competing offers. And these are hourly positions. This started for me in January, 2021. I'll never forget that feeling I had, like the labor world had vanished overnight.
We would post a job, and get perhaps 20 applicants. Ok, not bad. Then we would start phone screening, and 10 wouldn't answer or return phone calls. Weird. 10 would answer, but only 5 would schedule an onsite. Of those 5, 1 or 2 would show up. The other 3 or 4 would just either ghost us or say something catastrophic happened (car accident was a popular one). Of the 2 that we would extend job offers, sometimes 1 would show up to work. Within a month or so, that person would move on to another job, paying 20% to 30% or more than this one.
I figured out later that these people were simply applying to meet their unemployment requirements, and never had any intentions of accepting a job. A few openly admitted it.
I literally cannot run a business in a labor market like that. So I found that I was doing triple the work, and my managers were stressed out and exhausted. I still to this day have not recovered mentally from that exhaustion, as the beat goes on. I can only write a comment here, because I take a mental break during the day to think about something else. And, the situation has gotten a bit better. This forum has some "venting" benefits for me. Thank you Mr. Carter!
But back in January, 2021, I knew that inflation was going to be really, really bad, if only because of the wage rates that I was offering. Everyone is doing it. Things are slowing down, and for that I can only be grateful. We need a normal economy, not this.
When repairing my home, I cannot find contractors. I just had some plumbing work done, and now they want to charge you JUST TO COME OUT AND QUOTE THE JOB. This has never been this way.
So, the very first thing that has to be fixed is the government getting rid of the incentives to not work. At all levels.
But my fear is that they've already killed off much of the potential rebound of the economy, and that killing off the "demand" was much worse than just trying to increase the supply.
We are in for it, and we're going to get it good and hard.
You reminded my of that old Lily Tomlin quote " No matter how cynical you get, it is impossible to keep up" . Sad, but really true now with Biden & company trying to run the show. All the new regulations & penalties just from the SEC are destroying the investment community.
Sep 13, 2022·edited Sep 13, 2022Liked by Jeffrey Carter
Really like reading you when you get mad. Very much liked the link to Michael Every.
As to the midterms, I'm sure that after an appropriate number of non-GOPe Republicans have been hassled, if not outright arrested (pour encourager les autres, doncha know), that people will know who to vote for.
I believe that the biggest problem right now is labor. Everywhere I look, and in my own business it is extremely difficult to find people to work -- let alone good people. In some positions I have doubled my wage rates -- yes, DOUBLED, and I'm still getting people who are getting more in competing offers. And these are hourly positions. This started for me in January, 2021. I'll never forget that feeling I had, like the labor world had vanished overnight.
We would post a job, and get perhaps 20 applicants. Ok, not bad. Then we would start phone screening, and 10 wouldn't answer or return phone calls. Weird. 10 would answer, but only 5 would schedule an onsite. Of those 5, 1 or 2 would show up. The other 3 or 4 would just either ghost us or say something catastrophic happened (car accident was a popular one). Of the 2 that we would extend job offers, sometimes 1 would show up to work. Within a month or so, that person would move on to another job, paying 20% to 30% or more than this one.
I figured out later that these people were simply applying to meet their unemployment requirements, and never had any intentions of accepting a job. A few openly admitted it.
I literally cannot run a business in a labor market like that. So I found that I was doing triple the work, and my managers were stressed out and exhausted. I still to this day have not recovered mentally from that exhaustion, as the beat goes on. I can only write a comment here, because I take a mental break during the day to think about something else. And, the situation has gotten a bit better. This forum has some "venting" benefits for me. Thank you Mr. Carter!
But back in January, 2021, I knew that inflation was going to be really, really bad, if only because of the wage rates that I was offering. Everyone is doing it. Things are slowing down, and for that I can only be grateful. We need a normal economy, not this.
When repairing my home, I cannot find contractors. I just had some plumbing work done, and now they want to charge you JUST TO COME OUT AND QUOTE THE JOB. This has never been this way.
So, the very first thing that has to be fixed is the government getting rid of the incentives to not work. At all levels.
But my fear is that they've already killed off much of the potential rebound of the economy, and that killing off the "demand" was much worse than just trying to increase the supply.
We are in for it, and we're going to get it good and hard.
Someone needs to start a “Bidenville” meme. (Like Hooverville) I wish I was the guy to do it!
A righteous rant! Agree 100%
You reminded my of that old Lily Tomlin quote " No matter how cynical you get, it is impossible to keep up" . Sad, but really true now with Biden & company trying to run the show. All the new regulations & penalties just from the SEC are destroying the investment community.
Really like reading you when you get mad. Very much liked the link to Michael Every.
As to the midterms, I'm sure that after an appropriate number of non-GOPe Republicans have been hassled, if not outright arrested (pour encourager les autres, doncha know), that people will know who to vote for.
https://redstate.com/nick-arama/2022/09/12/fbi-turns-up-on-doorstep-of-trump-supporter-who-wasnt-even-at-capitol-n626595
Big banks are regulated (heavily) utilities. Not much free enterprise left there.
Great Depression 2: Fascist Eugenicist Oligarchy Boogaloo!