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What mass layoffs? Last I checked unemployment is still under 4%.
But it is actually the intent of raising interest rates in the first place. Inflation was getting out of hand, and one cause is the tight labor market. Raising interest rates was supposed to reduce hiring, maybe even cause some layoffs, as a means to reduce inflation. But consumers keep buying and employers keep hiring, which sound good but results in inflation.
Well why not reduce government spending along with those measures instead of putting Americans out of work? They're supposed to be willing to take the hit for the cause of inflation? I agree that interest rates were abnormally low.. ..but raising them back up while housing values across the country are at the highest they've ever been while inventory was so tight puts alot of Americans in a pickle. Maybe a hike to about 5.5% would have been a bit wiser and lest prohibitive for many Americans as what you are saying is many Americans basically need to be willing to deal with being a have not just for the sake of addressing inflation, while government is able to spend without any accountability.
Tech has been laying off like crazy since 2021. Tesla just recently axed 2,700 employees in just one of their facilities, Facebook another 1,500 employees. Not including all the layoffs in the Bay Area that have been massively accelerated since pre-covid.. ..those unemployment numbers are a joke. I know alot of folks in tech that have shifted into gig jobs because they were laid off and could not immediately find work, as a result gig roles have also started paying significantly less and get away with alot more as well.
I have a hunch that they may, and if they do then buyers will likely flood the market to buy while rates are low given there are probably many potential buyers out there who are holding out for rates to drop. The adverse affect is home values will surge once again making it even less likely for the little man to purchase. The little man gets screwed over either way unless more housing inventory comes online, atleast.. housing inventory that is not bought up by a corporation.
Beware what you asking for. The very moment interest rate is dropped, inflation with skyrocket out of control. You want that?
Beware what you asking for. The very moment interest rate is dropped, inflation with skyrocket out of control. You want that?
Is it really that low to begin with if we have to artificially control it by preventing American's from obtaining financing? If we then cannot allow Americans to obtain a loan necessary to afford housing or even cars today and live what most Americans consider an ordinary lifestyle.. ..how are we really addressing inflation if by lower rates suddenly inflation balloons? It sounds to me inflation is just being swept under the carpet rather than corrected.
Why not instead work toward reducing government spending and not increasing corporate tax to generate more expenditures that continue to creep in large packages to foreign nations?
The market rejoiced thinking there would be 4 rate cuts this year. There shouldn’t be any any based of our terrible GDP and inflation numbers… of course it doesn’t mean they won’t and Trump blathering to oust J.Powell if he’s elected tilts the scale in favor of cuts just to keep him out. I guess we’re gonna see how “independent†this fed really is.
We are stuck with either Joey or Donnie and both love their deficitis, spending and high tariffs. Just shows how dumb the electorate is. Everyone says overwhelmingly that inflation is their primary issue this election but then turn around and elect both retards that got us into this position. It’s borderline funny at this point.
The prevalence of the money-issuance model has more to do with technology, starting in the late 1980s, than political theater which has been a s hit show since the 1960s.
The technology came to the fore in the early 2000s and continues to develop, most recently with AI.
The income tax model is a relic of early industrialization, but it still exists and by now functions more as a data-gathering, behavior-modification, and vote-fishing propaganda tool than as a government-financing tool, at least at the federal level.
I don’t see this dynamic changing over the next four years regardless of the puppet on the presidential stage; if anything, the puppet may transform into an AI-generated image, borderline funny.
What mass layoffs? Last I checked unemployment is still under 4%.
dont give up your day job.
not even google could filter this out:
Quote:
So far, about 42,324 tech employees were let go in 2024, according to Layoffs. fyi, which tracks layoffs in the tech industry. That averages out to more than 780 layoffs each day in 2024. In 2023, nearly 263,000 tech employees got laid off, averaging to about 720 layoffs each day that year
These jobs lost forever pay 5x what the mcjobs biden 'created' pay out, and 4% UE simply means only 4% continue to look for work. You already know that as we have proven. The rest, are content with their handouts.
Even NPR, who typically wont publish a single truth:
Quote:
Why are there so many layoffs in tech right now?
Executives justified the mass layoffs by citing a pandemic hiring binge, high inflation and weak consumer demand. Now in 2024, tech company workforces have largely returned to pre-pandemic levels, inflation is half of what it was this time last year and consumer confidence is rebounding.Jan 28, 2024
<---lookit date. Layoffs over 10K per month STILL, inflation climbing and most important, inflation STILL over 2x what it was under trunmp. Consumer demand does not directly correlate to tech jobs, which bears the brunt of the layoffs
and of course I would be remiss if I did not post this for the nth time:
Quote:
More than 191,000 workers at U.S.-based tech companies were laid off in mass job cuts in 2023, according to our tally, and the cuts have continued into 2024.
What mass layoffs? Last I checked unemployment is still under 4%.
But it is actually the intent of raising interest rates in the first place. Inflation was getting out of hand, and one cause is the tight labor market. Raising interest rates was supposed to reduce hiring, maybe even cause some layoffs, as a means to reduce inflation. But consumers keep buying and employers keep hiring, which sound good but results in inflation.
Check out a lot of major businesses, and restaurants that are claiming bankruptcies protection under title 11.
Quote:
Total commercial chapter 11 filings (including subchapter V) registered the largest increase, as the 1,894 filings during the first quarter of 2024 were up 43 percent from the 1,325 total commercial chapter 11s during the same period in 2023.
Inflation has not been quelled. Interest rates need to increase, not decrease.
Raising interest rates mean more people that won't be able to buy big ticket items like homes, cars and appliances. That mean more people laid off who manufacturer those items and less money being spent by those who want those items but can't afford. Also food and clothing.
Solution: lower gas prices by allowing more drilling, flaking and petroleum pipe lines so gas prices would go down so truckers can deliver those products at a cheaper price. Truckers who have spend $1K to fill their tanks could reduce their cost and pass it down to consumers. Cut regulations that cause higher prices.
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