Menu
What's new

Money & Economics

bigredfish

bigredfish

Known around here
Joined
Sep 5, 2016
Messages
17,601
Reaction score
48,968
Location
Floriduh
bigredfish

bigredfish

Known around here
Joined
Sep 5, 2016
Messages
17,601
Reaction score
48,968
Location
Floriduh
Thank God I'm retired, I feel sorry for those still in the job market. Just another sign that the middle class is being systematically gutted.

"A Lack Of Job Security": White-Collar Job Growth Stalls Hard

"A Lack Of Job Security": White-Collar Job Growth Stalls Hard | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

While hiring rates for those in the bottom-third of US income distribution has been on a tear (and largely going to part time workers, most of whom are illegal immigrants), white collar jobs hiring is stalling out across much of the US, with industries such as finance, technology, media, and professional services such as law and accounting all suffering despite the national unemployment rate hovering near historic lows.
 
rolibr24

rolibr24

Getting comfortable
Joined
Dec 3, 2021
Messages
665
Reaction score
3,067
Location
USA
bigredfish said:
Thank God I'm retired, I feel sorry for those still in the job market. Just another sign that the middle class is being systematically gutted.

"A Lack Of Job Security": White-Collar Job Growth Stalls Hard

"A Lack Of Job Security": White-Collar Job Growth Stalls Hard | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

While hiring rates for those in the bottom-third of US income distribution has been on a tear (and largely going to part time workers, most of whom are illegal immigrants), white collar jobs hiring is stalling out across much of the US, with industries such as finance, technology, media, and professional services such as law and accounting all suffering despite the national unemployment rate hovering near historic lows.
Click to expand...
Our area is very heavily tied to the automotive industry. I would venture to guess that 90% of the jobs in our area are tied to it one way or another.

I was talking to a guy this weekend who is a salesman at one of the larger automation shops. He said things came to a screeching halt lately. He said the huge players in our area just put everyone on 35 hours, with voluntary layoffs.

Things are starting to look a lot like 08-09. I am scared for our community. Back then we really only had one huge company who was tied to automotive. Now every company is tied to them, and all these companies have exploded over the past 5-8 years.
 
mat200

mat200

IPCT Contributor
Joined
Jan 17, 2017
Messages
14,010
Reaction score
23,344
rolibr24 said:
Our area is very heavily tied to the automotive industry. I would venture to guess that 90% of the jobs in our area are tied to it one way or another.

I was talking to a guy this weekend who is a salesman at one of the larger automation shops. He said things came to a screeching halt lately. He said the huge players in our area just put everyone on 35 hours, with voluntary layoffs.

Things are starting to look a lot like 08-09. I am scared for our community. Back then we really only had one huge company who was tied to automotive. Now every company is tied to them, and all these companies have exploded over the past 5-8 years.
Click to expand...
Yes .. likewise it should be concerning .. big changes coming quickly
 
Sybertiger

Sybertiger

Known around here
Joined
Jun 30, 2018
Messages
4,717
Reaction score
13,620
Location
Orlando
bigredfish said:
Biden Calls For Record High 44.6% Capital Gains Tax Rate

Biden Calls For Record High 44.6% Capital Gains Tax Rate | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

President Biden has formally proposed the highest top capital gains tax in over 100 years.

Here is a direct quote from the Biden 2025 budget proposal: “Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.”
Yes, you read that correctly: A Biden top capital gains and dividends tax rate of 44.6%.

Under the Biden proposal, the combined federal-state capital gains tax exceeds 50% in many states. California will face a combined federal-state rate of 59%, New Jersey 55.3%, Oregon at 54.5%, Minnesota at 54.4%, and New York state at 53.4%.

Worse, capital gains are not indexed to inflation. So Americans already get stuck paying tax on some “gains” that are not real. It is a tax on inflation, something created by Washington and then taxed by Washington. Biden’s high inflation makes this especially painful.
Click to expand...
That's the beauty of the Federal taxing system. It's about guaranteed to rip off investers on long term investments due to inflation (devalued money). I could not have devised a better system of sticking it to citizens. It's just one of the aspects of how the system transfers wealth from those taking personal risks while the gubermint doesn't have to risk anything.
 
Sybertiger

Sybertiger

Known around here
Joined
Jun 30, 2018
Messages
4,717
Reaction score
13,620
Location
Orlando
bigredfish said:
This guy gets it

It's The End Of The Foreign Exchange Reserves As We Know It... Don't Feel Fine About It

It's The End Of The Foreign Exchange Reserves As We Know It... Don't Feel Fine About It | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
Click to expand...

To add to this...I don't blame countries from wanting to move away from the dollar. As a foreign gubermint I'd be pissed to be holding dollars while the US just fires up the printing presses whenever they need more money only to devalue existing dollars that gubermints and people are holding. This is yet another scam perpetrated by the US to transfer wealth.
 
You must log in or register to reply here.
Top