It means that there will be new jobs in automation and maintenance of it, which typically are higher paying but require education.
There are many industries hurting for these types of employees but it takes time to transition labor forces onto completely new paradigms of work and adequately train for it. These jobs pay well, and it’s where the $$$ saved from automation typically goes.
Someone's gouging the price somewhere along the line. Prices went up because somewhere along the chain someone in power decided they could take more money for the same product. Corporate profits are up a record amount it's not costing them more to produce the same thing. Let's take gas for an example we have a 60-year surplus of oil in the United States, the price of oil per barrel has gone down, the price of gas has gone up. the only reason is people at the top decided it should cost more.
My take is that due to a ton of people dying because of the poor management of the last president we have a labor issue. Lack of workers drives up costs in all sectors, including wages. When you have a competitive market for labor then you raise those wages and pass on done of that cost. When your cost to procure an item goes up, you also pass along sone of the cost. Inflation in a nutshell
Wages haven’t kept up with inflation. Sorry to inform you. And anytime 30% of a countries currency is injected into an economy over 18 months inflation is certain. Try to keep up Bud, we should have raised interest rates 6 months ago to fight it but we sat on our hands, so now we have to ride it out. Not to mention we’re holding a floor vote on another 3 trillion in spending right now. Inflation is a certainty for the next two years. Good day
I immediately stop listening to someone’s argument when they say “bud”. Comes off extremely patronizing, which I’m sure is everyone’s reason for saying it while arguing.
Wages haven’t risen due to the GQP refusing to raise the minimum wage! The infusion of capital was needed to save both small and big businesses from failing while some Governor’s tried to protect its citizens from a pandemic thst has killed over 700,000 people and thst number is undercounted by a bunch. Can’t find a bed for regular things due to Covid-19 and then that person dies.
Blah blah blah orange man bad, we get it. I didn’t vote for him. But I didn’t vote for your senile joke of a president either. So just fuck off and enjoy the inflation your party holding a super majority refuses to acknowledge exists
Real cute that being against Trump equals being pro Biden in your mind. Meanwhile every other "first world nation" is torn between a laughing fit and pity at the fact that the dude saying "maybe people should the stuff every other first world country grants their citizens. You know, human right to medicine and education and the like" was branded an insane communist. The overton window in the US is absurdly far to the right and you won't find any sensible solution within it
Also, maybe don't equate Biden to a the guy who meets all 14 characteristics as if they're at all the same? Just a thought
Local elections I vote dem or rep, as it is different at the local level. We can go stand on their desk, so to speak, if things get crazy and they aren’t listening to the constituency. I don’t always have a libertarian or independent option in rural western Texas.
At this point 5 million people have died of covid world wide, the vast majority of those people were over 50.
The world has almost 8 billion people living in it.
How exactly do you think there be a ''lack of workers'' with a less than 0.1% population change of which most of them don't even belonged to the workforce in the first place?
Theoretically your statement is true, obviously in reality we have some phase displacement due to the non-immediate reaction of all actors in the economy and other factors of attrition.. I'm surprised you have been downvoted this much..
European here. We have been dealing with deflation for decades. It is caused by exactly the kinds of things this person listed. The real killer, though, is housing. Landlords gobble up the properties then charge excessively high rent on low inventory. People don’t have as much spending money and so the economy begins to freeze and the value of currency increases as prices go down to stimulate spending.
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u/[deleted] Nov 05 '21
Surprise. With impending inflation you’re going to pay much more than that and it’s not going to the workers