Economics Thread

[thethe]

if you died in 2020 or 2021 you wouldn't be in the 2022 numbers...unless you died in West Virginia, which is still reporting deaths from prior years

Ah - So we don't have an explanation for excess deaths we are seeing in Europe currently eh?

[chop2chip]

Kids should be sorted starting as early as 12-13. You generally have a good idea who are the ones who can learn higher level concepts at an early age. Vocational schooling should be the norm for the majority of the population.

Sorting, depending on its application, seems a tad extreme in my book (do you trust public educators to make evaluations on competency - I don’t) but I agree with the direction.A few other suggestions.

- Businesses shouldn’t require unrelated college degrees. This also includes required graduate degrees for promotion. It shouldn’t be a prerequisite to go $100k in debt to work a job.
- Redirect higher education spending on vocational schools and financial assistance. States (and society) will benefit more from investing in plumbers and electricians than theater and German majors
- School choice. If my child is struggling in high school and has no interest in college, I should be able to take that money and put them in an apprenticeship, coding camp, etc.

[thethe]

Sorting, depending on its application, seems a tad extreme in my book, but I agree with the direction. A few other suggestions.

- Businesses shouldn’t require unrelated college degrees. This also includes required graduate degrees for promotion. It shouldn’t be a prerequisite to go $100k in debt to work a job.
- Redirect higher education spending on vocational schools and financial assistance. States (and society) will benefit more from investing in plumbers and electricians than theater and German majors
- School choice. If my child is struggling in high school and has no interest in college, I should be able to take that money and put them in an apprenticeship, coding camp, etc.

Businesses should offer more tracks to work right out of high school. If you give me someone who can do basic math I can make them a staff accountant with a path for growth.

I don't know any way that the second point you made can be made with more emphasis but its the key to unlocking the future of a stable country.

[57Brave]

who the **** wants to be a Soviet style staff accountant ?
A bean counter

No wonder you are so glum and dillusional
Who wants to be like you ?

[thethe]

In terms of the 'sorting' I think a lot of that can be accomplished by administering a series of standardize testing. I know there are flaws with that process but I believe that you can get most of it right with just that simple process.

[thethe]

who the **** wants to be a Soviet style staff accountant ?
A bean counter

No wonder you are so glum and dillusional
Who wants to be like you ?

Ah poor 57 - You don't understand what it means to get an invitation to a greater field. Its just the opening. Once you're in the door your success is your choice.

But I wouldn't expect someone who espouses the poison that you do to understand this.

And for the record...I absolutely LOVE my career and it gets more interesting each year as I learn more.

[sturg33]

A friend of mine worked for an hvac company right out of high school. paid him about $10/hr plus overtime.

By the time I graduated college, I was about $40K in debt... he'd earned about $120K by then. He then started his own vac company and his net worth is around $10M today at age 33.

He likes to give me **** for my college degree. He shows me his yearly revenue numbers. Only way I can compete with my white collar corporate job is to show him my BTC wallet

[thethe]

A friend of mine worked for an hvac company right out of high school. paid him about $10/hr plus overtime.

By the time I graduated college, I was about $40K in debt... he'd earned about $120K by then. He then started his own vac company and his net worth is around $10M today at age 33.

He likes to give me **** for my college degree. He shows me his yearly revenue numbers. Only way I can compete with my white collar corporate job is to show him my BTC wallet

You haven't tried to develop any side hustle?

My great corporate job is just means to an end.

[sturg33]

You haven't tried to develop any side hustle?

My great corporate job is just means to an end.

I started a software biz a few years back... it was generating about $20K rev per month at its peak but unfortunately one of the big players figured out what we were doing and squashed us like a bug... pretty much dead overnight.

I consult with a couple saas businesses.

But today I'm paid pretty well and swimming in stock options so as long as my company performs well... I'll do well. Doesn't hurt to have my coins as backdrop or my surgeon wife helping me if things should go wrong

[thethe]

I started a software biz a few years back... it was generating about $20K rev per month at its peak but unfortunately one of the big players figured out what we were doing and squashed us like a bug... pretty much dead overnight.

I consult with a couple saas businesses.

But today I'm paid pretty well and swimming in stock options so as long as my company performs well... I'll do well. Doesn't hurt to have my coins as backdrop or my surgeon wife helping me if things should go wrong

Well done - Lots of competition out there.

Also have a bunch of RSU's but when I see what consultants make while being completely moronic it drives me forward. Most challenging thing for me is that I'm incredible with developing analytic tools that integrate with an IBM consolidation/reporting system and the only people using that are large companies so getting in the door to those decision makers is what I have to overcome. But the amounts you can charge for very simple tasks is mind blowing.

[sturg33]

Interesting... IBM's one of my largest clients and they constantly bemoan the fact that big companies can't understand their tools

[thethe]

Interesting... IBM's one of my largest clients and they constantly bemoan the fact that big companies can't understand their tools

You have absolutely no clue man. I got this job in march of 2020 (2 days before NY shutdown).

Within the first month I developed an analytic tool that allowed the CFO to review monthly results in 2-4 hours while it was taking days before. I have to hand hold the TM1 consultants (I don't know how to create complex code) for them to actually understand what I need. Fortunately, after they build a few things I can re-purpose (I'm able to interpret code and re-work) to accomplish other tasks.

[Tapate50]

Chuck Shumer "In this bill we spend 300 million to reduce the deficit to help inflation"

[sturg33]

Chuck Shumer "In this bill we spend 300 million to reduce the deficit to help inflation"

[chop2chip]

Businesses should offer more tracks to work right out of high school. If you give me someone who can do basic math I can make them a staff accountant with a path for growth.

I don't know any way that the second point you made can be made with more emphasis but its the key to unlocking the future of a stable country.

I understand from a business perspective why they do it. College degrees is essentially just an aptitude screen. Our education is fully optimized to produce one successful outcome (four year bachelor degree). If you don’t have your degree, it means you failed the one goal assigned to you. Why should they want to take a risk on you, the FAILURE.

If we create alternative acceptable success tracts then the college degree means less.

[thethe]

I understand from a business perspective why they do it. College degrees is essentially just an aptitude screen. Our education is fully optimized to produce one successful outcome (four year bachelor degree). If you don’t have your degree, it means you failed the one goal assigned to you. Why should they want to take a risk on you, the FAILURE.

If we create alternative acceptable success tracts then the college degree means less.

There are so many idiots that get four year degrees though and companies are wasting tens of thousands of dollars for each of them that get churned out in a couple of short months.

I see the future as something where businesses have their own form of 'college' with large incoming classes of low paid work that comes with instructions and career planning. At the end of the program the businesses know who will be good workers and don't have to go through cumbersome onboarding one person at a time to be wasted in the majority of situations.

[chop2chip]

who the **** wants to be a Soviet style staff accountant ?
A bean counter

No wonder you are so glum and dillusional
Who wants to be like you ?

You’re right. Better to coerce someone into spending $15k a semester to take a class so the bean counter can take a few coloring and weight lifting classes, in addition to the two relevant courses to their career.

[Tapate50]

57 makes the worst points.

[sturg33]

Ahh but you see, Friedman was unaware of the Putin price hike

And very wise and always right academics like nsacpi said we simply had to print endless sums of money bc THIS IS WAR!!!

Too bad Friedman isn't as smart as them

[acesfull86]

https://gregmankiw.blogspot.com/2022...ation.html?m=1

The Inflation Impact of the Inflation Reduction Act

According to CBO:

In calendar year 2022, enacting the bill would have a negligible effect on inflation, in CBO’s assessment. In calendar year 2023, inflation would probably be between 0.1 percentage point lower and 0.1 percentage point higher under the bill than it would be under current law.