Dow Down 666 Points

stocks

#1554

The open jobs report published by the BLS. There are people that analyze the types of open jobs. There’s also a massive shortage of skilled trades. It’s not minimum wage jobs that are making up the 6M.


#1555

Skilled labor != STEM. A plumber doesn’t need to understand calculus.


#1556

Would you as a businessman? Spiraling wage would kill your business and plunge your company stock price. AFAIK, high growth highly profitable tech companies are also feeling the strain after many rounds of pushing the salary of SWEs up. If you raise wages for a certain class of workers, thereby robbing another company of those workers, those guys would raise wages to snatch back the workers, resulting in a wage spiral. Businesses are well aware of this. The Fed guy is talking cock… trying to score political points.


#1557

Businesses need to do the calculation. Is it worth the extra $2 an hour to hire one more person so your business can serve more customers?

By your logic no firm will raise wages. That’s clearly not true.


#1558

Obviously not true, you are stretching my analogy is why sometimes I hate to use analogy. Within reason, my friend. My main point is businesses know what they are doing, and Fed should stop telling businesses how to suck eggs.


#1559

This all boils down to business outlook. Many firms are still not clear good time will persist. Sure it’s good this year but what about 3 years down the road?

As more firms get more comfortable with the future they will pay more. They may get more comfortable in providing on the job training.

With “skilled labor” we are mostly talking about people like forklift drivers. You learn on the job for a week or two and you are set.

There is another big impediment to employment that seldom gets airtime here. Tons of men, especially black men, have criminal record and can’t get jobs in big firms.


#1560

not just that, there’s no real “rehabilitation” (for lack of a better word) programs in us jails. The fact that they are greedy private organizations are not helping.


#1561

It would be nice if you can share the actual percentages as opposed to fictitious ones. Please re-draw your pie chart!


#1562

#1563

I said shortage of STEM and skilled labor. Operating PIT equipment is in high demand. We train so many people in it thst it was cheaper to have managers trained as instructors. That way they can run the classes. If you aren’t paying market rate, people quit within a couple months of being certified.


#1564

futures are slightly up. As @Elt1 was saying, I am losing some sleep over these market conditions :slight_smile: Nikkei is almost turning positive. It’s not as good of a sign i was expecting!


#1565

Don’t worry the major drops are over. Now will be a few weeks of consolidation before the next big leg up later this year :slight_smile:


#1566

Trump is giving positive signs.


#1567

Seriously are you wearing your Dow 50k hat?


#1568

go make him a “dow 50k” hat, and gift him at the next meet up.


#1569

I am sick and tired of that madman. Can Mueller please hurry up? :rage:


#1570

do you think mueller’s investigation is “good” for the economy?


#1571

For the good of the country I am willing to sacrifice (a little).


#1572

i don’t see the relation.

to be honest, I was not supporting trump initially, but i am seeing some of the stuff he’s doing. He’s not all bad, you know.

  • It’s not bad to not want illegal immigrants in the country. You, me and most people on this list came this country “legally”.
  • Tax cuts will bring back money to united states, which i believe is good. It might cause property values to jump up more (if it hasn’t already), or might cause economy to overheat (looks like it has already), but eventually, it was money america couldn’t touch before.
  • tariffs - looks like he doesn’t want it either, and most definitely using it as a negotiation tactic (and i remember reading about him before where he did similar things in his business - please don’t say he declared bankruptcy multiple times).

:slight_smile:


#1573

Also, I don’t see a strong relation between government and economy in the long run, because the system is already well established. That means whatever trump does will not matter much, just like Obama and bush hardly impacted America’s path.