Nipate
Forum => Kenya Discussion => Topic started by: Nowayhaha on April 16, 2023, 09:30:07 PM
-
Its not the end of Kenya the just need strong fiscal policies to survive current storm .
https://www.depledgeswm.com/depledge/the-us-printed-more-than-3-trillion-in-2020-alone-heres-why-it-matters-today/
When a crisis hits a nation – or in the case of the Covid-19 pandemic, the entire world – governments and central banks have to act fast.
When the pandemic hit in March 2020 and lockdowns were imposed throughout the world, economies suffered sharp declines.
In response, the US Federal Reserve took a seemingly drastic measure to inflate the economy: they printed trillions of dollars.
The US introduced “quantitative easing” during the pandemic to help keep the economy afloat
The action of printing money in order to help the economy remain buoyant is known as “quantitative easing” (QE). QE was first introduced in March 2009, following the stock market crash of 2008.
The Federal Reserve printed approximately $3.3 trillion in 2020 alone, which, according to City AM, equates to one-fifth of all US dollars in circulation in the same year.
You might be wondering: how can simply printing more money help in a crisis?
In basic terms, the key motivator for QE is to encourage borrowing. Due to the high number of loans available from banks, interest rates usually remain low, meaning borrowing stays cheap.
For example, according to Trading Economics, the Federal Reserve’s “fed funds rate” – an equivalent to the UK’s base rate – dropped from 1% to 0.25% in March 2020.
A 0.25% interest rate afforded individuals the opportunity to borrow as cheaply as possible during the pandemic with the hope that, in turn, they spend this money on goods and services to boost the economy.
This is an example of how QE can benefit the country in the short term – it encourages individuals to continue spending money in an economically precarious time.
While it may have helped stabilise the US economy during the peak of the Covid-19 pandemic, QE has some disadvantages that are now being experienced in 2022.
Quantitative easing can have adverse long-term effects on the economy
Like many things in life, short-term solutions can have some negative ramifications in the long run.
Here are some of the long-term consequences the economy is now experiencing from the Federal Reserve’s 2020 QE strategy.
1. High inflation
Of course, bloating the economy with cash can lead to price rises as there is more demand chasing a limited supply of goods and services. This has caused inflation to reach significant highs.
The inflationary effects of QE are evident in 2022: US inflation reached a 41-year peak of 8.5% in March.
2. Rising interest rates
As inflation rises, interest rates often follow suit, in order to slow consumer spending and protect the economy from the soaring cost of living.
So, while interest rates remained at record lows during the pandemic, they are now steadily increasing again, in order to stabilise the effects of QE on the economy, among other factors. US interest rates stood at 1.5% to 1.75% in June 2022 – up more than 1% from a year ago.
3. Market volatility
Although 2022’s market dip has been caused by multiple factors, such as the Russian invasion of Ukraine, QE can contribute to market volatility too.
By flooding the economy with cash, QE boosts public spending power, and can contribute to share prices rising as a result. However, when inflation begins to rise, and interest rates follow suit, market values can dip again.
Quantitative tightening (QT) or “tapering” QE can help curb the rate of inflation and keep interest rates low
Now that it seems the worst of the Covid-19 pandemic is behind us, the Federal Reserve have begun “tapering” the QE that was introduced in March 2020.
As opposed to “quantitative tightening” (QT), which would involve actively under-printing US dollars in order to make borrowing more expensive and slow the rate of inflation, the Federal Reserve is simply tapering the printing of the dollar over time.
This gradual approach could be being employed in order to minimise the long-term effects of QE, and to keep interest rates, and markets, steady during an already uncertain time.
The UK adopted a similar QE approach during the Covid-19 crisis
Alongside the US’s QE strategy rolled out in March 2020, the UK adopted a similar approach during the pandemic.
For example, according to Statista, the UK’s furlough scheme cost the UK government around £70 billion. The scheme propped up businesses and kept employees financially viable when they were unable to continue working.
Similarly, the Commons Library claims that the government’s “Eat Out To Help Out” scheme cost £849 million. “Eat Out To Help Out” provided a 50% discount for individuals eating at restaurants and cafes between 3 and 31 August 2021.
Both these economy-boosting measures could be seen as a smaller-scale QE rollout that encouraged public spending during the Covid-19 pandemic.
However, just like in the US, the UK is experiencing the full effects of QE this year. In an even steeper trajectory to that of the US, UK inflation has now reached 9% in May 2022.
Of course, there are other global factors contributing to inflation and rising interest. Nevertheless, in part, the soaring price rises Brits are experiencing could be attributed to the QE strategies employed by the government during the pandemic.
Get in touch
The effects of QE are still being felt by individuals in the UK and the US.
If you are concerned about how rising interest rates might affect your wealth this year, for example, you can read our insights on rising interest rates [NP1] or contact us directly.
-
It is very hard to feel economic crisis here in the USA because everything is as normal as it has been for decades. Boooming economy, jobs everywhere, people's standards of living improving each day, and wages, profits, capital gains always rising. They are now saying US economy is being threatened because there are no workers for fill millions of jobs open. Businesses have to overwork the few they have and folks are getting burned out because of too much work!
-
If using printing of money to cover deficiencies is the solution , then its just a matter of time then the bubble will burst.
The East and South are starting to use alternative means of currency for trade and reserves .
Lets see how printing of money will go……. Ask Britain where they are with this once pound lost it position as trade currency even printing of it during Covid period couldn't camouflage the inflation and current recession .
It is very hard to feel economic crisis here in the USA
-
Its not the end of Kenya the just need strong fiscal policies and monetary policiy to survive current storm .
https://www.depledgeswm.com/depledge/the-us-printed-more-than-3-trillion-in-2020-alone-heres-why-it-matters-today/
When a crisis hits a nation – or in the case of the Covid-19 pandemic, the entire world – governments and central banks have to act fast.
When the pandemic hit in March 2020 and lockdowns were imposed throughout the world, economies suffered sharp declines.
In response, the US Federal Reserve took a seemingly drastic measure to inflate the economy: they printed trillions of dollars.
The US introduced “quantitative easing” during the pandemic to help keep the economy afloat
The action of printing money in order to help the economy remain buoyant is known as “quantitative easing” (QE). QE was first introduced in March 2009, following the stock market crash of 2008.
The Federal Reserve printed approximately $3.3 trillion in 2020 alone, which, according to City AM, equates to one-fifth of all US dollars in circulation in the same year.
You might be wondering: how can simply printing more money help in a crisis?
In basic terms, the key motivator for QE is to encourage borrowing. Due to the high number of loans available from banks, interest rates usually remain low, meaning borrowing stays cheap.
For example, according to Trading Economics, the Federal Reserve’s “fed funds rate” – an equivalent to the UK’s base rate – dropped from 1% to 0.25% in March 2020.
A 0.25% interest rate afforded individuals the opportunity to borrow as cheaply as possible during the pandemic with the hope that, in turn, they spend this money on goods and services to boost the economy.
This is an example of how QE can benefit the country in the short term – it encourages individuals to continue spending money in an economically precarious time.
While it may have helped stabilise the US economy during the peak of the Covid-19 pandemic, QE has some disadvantages that are now being experienced in 2022.
Quantitative easing can have adverse long-term effects on the economy
Like many things in life, short-term solutions can have some negative ramifications in the long run.
Here are some of the long-term consequences the economy is now experiencing from the Federal Reserve’s 2020 QE strategy.
1. High inflation
Of course, bloating the economy with cash can lead to price rises as there is more demand chasing a limited supply of goods and services. This has caused inflation to reach significant highs.
The inflationary effects of QE are evident in 2022: US inflation reached a 41-year peak of 8.5% in March.
2. Rising interest rates
As inflation rises, interest rates often follow suit, in order to slow consumer spending and protect the economy from the soaring cost of living.
So, while interest rates remained at record lows during the pandemic, they are now steadily increasing again, in order to stabilise the effects of QE on the economy, among other factors. US interest rates stood at 1.5% to 1.75% in June 2022 – up more than 1% from a year ago.
3. Market volatility
Although 2022’s market dip has been caused by multiple factors, such as the Russian invasion of Ukraine, QE can contribute to market volatility too.
By flooding the economy with cash, QE boosts public spending power, and can contribute to share prices rising as a result. However, when inflation begins to rise, and interest rates follow suit, market values can dip again.
Quantitative tightening (QT) or “tapering” QE can help curb the rate of inflation and keep interest rates low
Now that it seems the worst of the Covid-19 pandemic is behind us, the Federal Reserve have begun “tapering” the QE that was introduced in March 2020.
As opposed to “quantitative tightening” (QT), which would involve actively under-printing US dollars in order to make borrowing more expensive and slow the rate of inflation, the Federal Reserve is simply tapering the printing of the dollar over time.
This gradual approach could be being employed in order to minimise the long-term effects of QE, and to keep interest rates, and markets, steady during an already uncertain time.
The UK adopted a similar QE approach during the Covid-19 crisis
Alongside the US’s QE strategy rolled out in March 2020, the UK adopted a similar approach during the pandemic.
For example, according to Statista, the UK’s furlough scheme cost the UK government around £70 billion. The scheme propped up businesses and kept employees financially viable when they were unable to continue working.
Similarly, the Commons Library claims that the government’s “Eat Out To Help Out” scheme cost £849 million. “Eat Out To Help Out” provided a 50% discount for individuals eating at restaurants and cafes between 3 and 31 August 2021.
Both these economy-boosting measures could be seen as a smaller-scale QE rollout that encouraged public spending during the Covid-19 pandemic.
However, just like in the US, the UK is experiencing the full effects of QE this year. In an even steeper trajectory to that of the US, UK inflation has now reached 9% in May 2022.
Of course, there are other global factors contributing to inflation and rising interest. Nevertheless, in part, the soaring price rises Brits are experiencing could be attributed to the QE strategies employed by the government during the pandemic.
Get in touch
The effects of QE are still being felt by individuals in the UK and the US.
If you are concerned about how rising interest rates might affect your wealth this year, for example, you can read our insights on rising interest rates [NP1] or contact us directly.
-
If using printing of money to cover deficiencies is the solution , then its just a matter of time then the bubble will burst.
The East and South are starting to use alternative means of currency for trade and reserves .
Lets see how printing of money will go……. Ask Britain where they are with this once pound lost it position as trade currency even printing of it during Covid period couldn't camouflage the inflation and current recession .
It is very hard to feel economic crisis here in the USA
I think we've heard bad news about US during Clinton, Bush, Obama, Trump, but nothing happened. For some reason, US economy tend to grow, reengineer itself, and constantly boom. In 2008, it was doomsday and the end of dollar if you read the news. In 2001-2002, it was the end of USA as we know it. In 2011 same; when Covid came in 2020-2021 it was the end of US as we know it as well. Having lived here during all those times, nothing has changed or felt any economic pain. 2001-2002 was all about the decline of US dollar, that is almost 20 years ago! Economy here is extremely stable, and so as the dollar, and institutions.
NEW YORK – Changing economic and political winds in the United States are set to buffet the dollar in the year ahead, with analysts predicting gradual declines from lofty levels reached in 2000 against European currencies but gradual gains against the ailing yen.
The slowing of the U.S. economy is the key marker in an increasingly harsh landscape for the dollar, and has already started taking its toll on the greenback against the euro, sterling and Swiss franc.
Against the cooling economic backdrop, Wall Street stocks have tumbled and interest rates are poised to drop. Perhaps most painfully, the pace of dollar-supportive investment inflows into America appears to have peaked, say analysts.
“There’s every reason to expect that 2001 will be a year of dollar sliding,” said Anne Parker Mills, currency economist at Brown Brothers Harriman in New York.
The impact of political shifts in Washington with the arrival of George W. Bush’s Republican administration is less clear. Markets will be watching Bush’s pick for Treasury Secretary, industrialist Paul O’Neill, for a reaffirmation of the “strong dollar” policy that sustained the greenback for much of the presidency of outgoing Democrat Bill Clinton.
-
Lets stop the generalization
Elaborate on the following
1.In 2008, it was doomsday and the end of dollar
2. In 2011 same
3. when Covid came in 2020-2021 it was the end of US as we know it as well.
4. 2001-2002 was all about the decline of US dollar, that is almost 20 years ago
If using printing of money to cover deficiencies is the solution , then its just a matter of time then the bubble will burst.
The East and South are starting to use alternative means of currency for trade and reserves .
Lets see how printing of money will go……. Ask Britain where they are with this once pound lost it position as trade currency even printing of it during Covid period couldn't camouflage the inflation and current recession .
It is very hard to feel economic crisis here in the USA
I think we've heard bad news about US during Clinton, Bush, Obama, Trump, but nothing happened. For some reason, US economy tend to grow, reengineer itself, and constantly boom. In 2008, it was doomsday and the end of dollar if you read the news. In 2001-2002, it was the end of USA as we know it. In 2011 same; when Covid came in 2020-2021 it was the end of US as we know it as well. Having lived here during all those times, nothing has changed or felt any economic pain. 2001-2002 was all about the decline of US dollar, that is almost 20 years ago! Economy here is extremely stable, and so as the dollar, and institutions.
NEW YORK – Changing economic and political winds in the United States are set to buffet the dollar in the year ahead, with analysts predicting gradual declines from lofty levels reached in 2000 against European currencies but gradual gains against the ailing yen.
The slowing of the U.S. economy is the key marker in an increasingly harsh landscape for the dollar, and has already started taking its toll on the greenback against the euro, sterling and Swiss franc.
Against the cooling economic backdrop, Wall Street stocks have tumbled and interest rates are poised to drop. Perhaps most painfully, the pace of dollar-supportive investment inflows into America appears to have peaked, say analysts.
“There’s every reason to expect that 2001 will be a year of dollar sliding,” said Anne Parker Mills, currency economist at Brown Brothers Harriman in New York.
The impact of political shifts in Washington with the arrival of George W. Bush’s Republican administration is less clear. Markets will be watching Bush’s pick for Treasury Secretary, industrialist Paul O’Neill, for a reaffirmation of the “strong dollar” policy that sustained the greenback for much of the presidency of outgoing Democrat Bill Clinton.
-
America has work ethic of Asia and freedoms of mwafrika hard to beat such economy. The root is American willingness to work like Asia yet free to do their shiet.Chinese n Japanese struggle to fit into US labour markets...that tell you USA ultra efficient economy not going anywhere
-
How about we speak the truth like U.S. economy growth has been fueled by Military products exports and fuel fossils .
Just like the truth that Kibakis era economic growth was fueled by Somali Piracy
America has work ethic of Asia and freedoms of mwafrika hard to beat such economy. The root is American willingness to work like Asia yet free to do their shiet.Chinese n Japanese struggle to fit into US labour markets...that tell you USA ultra efficient economy not going anywhere
-
USA biggest export is degeneracy well concealed under thin vineer of democracy and freedom.
Anyone who follow blindly get submerged in deep degerate swamp
-
USA biggest export is degeneracy well concealed under thin vineer of democracy and freedom.
Anyone who follow blindly get submerged in deep degerate swamp
(https://i.postimg.cc/2Smy1KHh/Screenshot-2023-04-17-at-09-44-47-Correct-Stock-Photos-Royalty-Free-Correct-Images-Depositphotos.png)
This is the best comment on Nipate this week so far :roll: :roll: :roll: :roll:
(https://i.postimg.cc/hjG7f5tp/Top-5-US-Exports-png-width-375-height-649-name-Top-5-US-Exports.png)
No former superpower has ever PRINTED its way out of eventual collapse. Ask Weimar Germany.
Remember when the top US exports were Computers/Tech, High Value Aircraft (not just parts), High value manufacturing machinery and so on?
Now - like a typical third world country - US TOP exports are crude, raw natural resources like mboga na petroli :roll:
Isitoshe, EVEN THOSE exports (the vehicles, aircraft parts and so on especially) are DECLINING in absolute terms valuewise year on year.
In ten years time the only thing US will be exporting will be GAY and TRANSGENDER movies :roll: :roll: :roll: :roll:
Isapite
Ni hayo tu
-
Ati survive by printing USD :roll:
-
Even the Chinese do not want a dominant currency for obvious reasons, they have been artificially devaluing the yuan for yrs to keep their exports cheap. They are the world’s factory for cheap crap.
-
Even the Chinese do not want a dominant currency for obvious reasons, they have been artificially devaluing the yuan for yrs to keep their exports cheap. They are the world’s factory for cheap crap.
There's a difference between an artificially low Yuan for export purposes by the world's largest trading nation versus a global RESERVE currency but oh..why do I even bother.
:D
-
The US dollar remains the global reserve currency of choice and nothing even comes close, no one is holding some unstable currency from an authoritarian country like China, that may as well use cryptos as their reserve currency. In China, the rich have quotas on how much of their wealth they can hold in dollars, if they had a chance, they would sell the yuan and hightail out of there. They have enough money to gobble up real estate all over the world but it’s stuck in their houses to the ceiling in yuan and they cannot do anything about it.
-
Kindly inform us how the rest of the countries like China, North- & South Korea, Malaysia, Ghana, France etc survived Covid? Did they too print $$$?
-
The US dollar remains the global reserve currency of choice and nothing even comes close, no one is holding some unstable currency from an authoritarian country like China, that may as well use cryptos as their reserve currency. In China, the rich have quotas on how much of their wealth they can hold in dollars, if they had a chance, they would sell the yuan and hightail out of there. They have enough money to gobble up real estate all over the world but it’s stuck in their houses to the ceiling in yuan and they cannot do anything about it.
China's dollar holdings (in treasuries) dropping BIG TIME. They dumped 17% of their portfolio in 2022 alone. I predict they will dump another 50% MINIMUM by end of this year (2023) but let's compare notes when the year's over. The FED itself is ALSO DUMPING TREASURIES :lol: hence the crazy interest rate spikes for them in the past year. Who will buy all these dumped treasuries? Even Nkooks - as wealthy and successful as he is - hawesmek buying them all. Dollar finito, baba. Take that to the bank.
https://rmegold.com/blog/china-continues-to-dump-dollars/
Yuan global usage rose a blistering 18.5% in 2020 and 26.6% in 2021. BRICs and allies (which comprise well over 70% of global population) are all headed to Yuan city. :D
https://www.thenationalnews.com/business/2023/04/05/chinas-yuan-gains-traction-as-international-trade-settlement-currency/
Chinese Yuan on track to become currency of choice for global trade
https://news.cgtn.com/news/2022-11-22/Chinese-yuan-on-track-to-become-currency-of-choice-for-global-trade-1fa0O02wUPC/index.html
What more do you need to be told, blathee? Ama tuongee kichinku (ni hao, ??/XieXie!) ndio usikie :roll: :roll: :roll:?
Ni hayo tu
-
Economy here is extremely stable, and so as the dollar, and institutions
Rv Heavy Hitter - it doesn't matter how much you tell people about the US. They don't want to believe. lol.
Even warren buffett warned people to never under-estimate the US of A.
I think it's because kenyans don't travel as much so their analysis is based on theoretical assumptions that they're reading about.
I've traveled. No where compares to the US not asia and not even europe; Only place I haven't been is Australia and everyone who's been there has told that's the only place that's as good as the US. I'd also throw in canada (very nice place)
-
Economy here is extremely stable, and so as the dollar, and institutions
Rv Heavy Hitter - it doesn't matter how much you tell people about the US. They don't want to believe. lol.
Even warren buffett warned people to never under-estimate the US of A.
I think it's because kenyans don't travel as much so their analysis is based on theoretical assumptions that they're reading about.
I've traveled. No where compares to the US not asia and not even europe; Only place I haven't been is Australia and everyone who's been there has told that's the only place that's as good as the US. I'd also throw in canada (very nice place)
Clearly you have not travelled much :lol:
Where in Europe and to what specific cities did you go to?
Where in Asia did you go to?
Have you even been to NYC, the de-facto financial capital of Hamellikwa? If yes, how would you compare the crumbling, rat and pee-filled, furnace-in-the-summer NYC subway (no air-con) built in the 1800s to Shanghai's Maglev (fastest train in the world) or to Hong Kong's MTR?
BROTHER PLEASE!!
Safiri kidogo ujionee. Wacha jokes ati "I have travelled" when your lack of knowledge about how crumbling US cities look compared to most other cities in Europe and Asia betrays you :roll:
How can a country which has not built EVEN ONE SINGLE MAJOR INFRA PROJECT SINCE THE 1980s be ati the "best place to be"? This is the sort of delusionality that's the norm in a country where a Will Smith slap is discussed by 99% of Hamellikwans as a subject of NATIONAL IMPORTANCE.
-
So traveling is a measure of knowledge .
Economy here is extremely stable, and so as the dollar, and institutions
Rv Heavy Hitter - it doesn't matter how much you tell people about the US. They don't want to believe. lol.
Even warren buffett warned people to never under-estimate the US of A.
I think it's because kenyans don't travel as much so their analysis is based on theoretical assumptions that they're reading about.
I've traveled. No where compares to the US not asia and not even europe; Only place I haven't been is Australia and everyone who's been there has told that's the only place that's as good as the US. I'd also throw in canada (very nice place)
-
US decline with either happen gradually or sharply like most super powers before it.
USSR woke up one day and it was done.
China are experts in disguise - so it hard to tell just how strong their economy is - and what they can unleash in short-time.
US and India rise will definitely re-balanced the world in a decade or so.
Kenya should re-align its goals with India and try to benefit from her.
US economy or living standards I doubt will regress - it's just their global dictatorship that will go away - as many countries wont listen to them.
-
US decline with either happen gradually or sharply like most super powers before it.
USSR woke up one day and it was done.
China are experts in disguise - so it hard to tell just how strong their economy is - and what they can unleash in short-time.
US and India rise will definitely re-balanced the world in a decade or so.
Kenya should re-align its goals with India and try to benefit from her.
US economy or living standards I doubt will regress - it's just their global dictatorship that will go away - as many countries wont listen to them.
Good points save for the final one.
Report: American Quality of Life Declines Over Past Decade
https://www.usnews.com/news/best-countries/articles/2020-09-11/a-global-anomaly-the-us-declines-in-annual-quality-of-life-report
The decline kicked in way back in the 70s and 80s when the US corporatocracy TREASONOUSLY betrayed their OWN country/people - by design - by starting to teach China how to build infra, develop jet fighters, mass produce via manufacturing tech, build computers and so on. In other words, the American corporatocracy shifted all the strengths they possessed for over a century, that they had used to turn America into the global hegemon, over to China. This led to the crumbling and gutted cities you see all over America and the corollary steep decline in living standard of Hamellikwans. Meanwhile the Chinese economy boomed like crazy ever since. No manufacturing and allied industries in the US meant no jobs for the majority, period. Fast food and other underclass service jobs do not count!
The Hamellikwan dream used to be easily attainable for all hard workers (educated or not) prior to the 70s.
It comprised of a middle class home, two cars in the garage, a chicken in every pot, a white picket fence and a dog named spot frolicking on the well manicured front lawn.
Jobs were plenty in all sorts of industries and anyone with half a brain could easily save up and buy their own house plus provide for their family.
That dream is long GONE. Even for the majority of college graduates with Masters degrees;
Finding A Job Is Hard For Even The Most Educated
https://www.npr.org/2010/03/29/125223926/finding-a-job-is-hard-for-even-the-most-educated
Social mobility has declined stupendously.
And sadly, mark my words, it will only get WORSE in the coming years.
Abandoned Detroit - Entire City Neglected
This used to be one of the most beautiful and economically vibrant cities in the WORLD papa.
What more evidence do folks need concerning the STEEP DECLINE in American living standards :D?
Ni hayo tu.
(https://i.postimg.cc/s2hH324Y/20130921-usd000-0.jpg)
(https://i.postimg.cc/qRNx0BVs/maxresdefault.jpg)
(https://i.postimg.cc/rwLdwVW1/end-of-the-american-dream.jpg)
-
US decline with either happen gradually or sharply like most super powers before it.
USSR woke up one day and it was done.
China are experts in disguise - so it hard to tell just how strong their economy is - and what they can unleash in short-time.
US and India rise will definitely re-balanced the world in a decade or so.
Kenya should re-align its goals with India and try to benefit from her.
US economy or living standards I doubt will regress - it's just their global dictatorship that will go away - as many countries wont listen to them.
Good points save for the final one.
Report: American Quality of Life Declines Over Past Decade
https://www.usnews.com/news/best-countries/articles/2020-09-11/a-global-anomaly-the-us-declines-in-annual-quality-of-life-report
The decline kicked in way back in the 70s and 80s when the US corporatocracy TREASONOUSLY betrayed their OWN country/people - by design - by starting to teach China how to build infra, develop jet fighters, mass produce via manufacturing tech, build computers and so on. In other words, the American corporatocracy shifted all the strengths they possessed for over a century, that they had used to turn America into the global hegemon, over to China. This led to the crumbling and gutted cities you see all over America and the corollary steep decline in living standard of Hamellikwans. Meanwhile the Chinese economy boomed like crazy ever since. No manufacturing and allied industries in the US meant no jobs for the majority, period. Fast food and other underclass service jobs do not count!
The Hamellikwan dream used to be easily attainable for all hard workers (educated or not) prior to the 70s.
It comprised of a middle class home, two cars in the garage, a chicken in every pot, a white picket fence and a dog named spot frolicking on the well manicured front lawn.
Jobs were plenty in all sorts of industries and anyone with half a brain could easily save up and buy their own house plus provide for their family.
That dream is long GONE. Even for the majority of college graduates with Masters degrees;
Finding A Job Is Hard For Even The Most Educated
https://www.npr.org/2010/03/29/125223926/finding-a-job-is-hard-for-even-the-most-educated
Social mobility has declined stupendously.
And sadly, mark my words, it will only get WORSE in the coming years.
Abandoned Detroit - Entire City Neglected
This used to be one of the most beautiful and economically vibrant cities in the WORLD papa.
What more evidence do folks need concerning the STEEP DECLINE in American living standards :D?
Ni hayo tu.
(https://i.postimg.cc/s2hH324Y/20130921-usd000-0.jpg)
(https://i.postimg.cc/qRNx0BVs/maxresdefault.jpg)
(https://i.postimg.cc/rwLdwVW1/end-of-the-american-dream.jpg)
2010 News, ati finding a job for college graduates is hard. Now in mighty Hamelica, even without high school degree, $30 an hour is guarantee today. High school kids here rake $20 minimum wage at grocery stores and fast food joints working part time on weekends and summer. US, without a doubt, is the High-paying Job headquarters of the world. It has been for 100+ years and counting.
-
2010 News, ati finding a job for college graduates is hard. Now in mighty Hamelica, even without high school degree, $30 an hour is guarantee today. High school kids here rake $20 minimum wage at grocery stores and fast food joints working part time on weekends and summer. US, without a doubt, is the High-paying Job headquarters of the world. It has been for 100+ years and counting.
You always respond wiith delusional stori mingi snywaaaaaaaaaa bila an iota of facts (or figures) that I always provide quite generously :lol:
Are these recent enough for you :D?
Just 50% of the college Class of 2020 had traditional full-time jobs 6 months after graduation
https://www.cnbc.com/2021/12/10/50percent-of-the-class-of-2020-got-full-time-jobs-6-months-after-graduation.html
With Millions of Job Openings, Why Are College Grads Still Struggling to Find Work?
hhttps://www.nbcdfw.com/news/local/with-millions-of-job-openings-why-are-college-grads-still-struggling-to-find-work/2681757/
Why is it so hard to find a job as a college graduate?
https://www.theslateonline.com/article/2023/03/why-is-it-so-hard-to-find-a-job-as-a-college-graduate
Isitoshe. STRUCTURAL UNEMPLOYMENT is an even better metric when gauging (un)employment rates. These are US workers, graduates inclusive :D who have PERMANENTLY LEFT THE LABOUR FORCE after giving up on job searches. The FED will never broadcast these figures, you have to dig deep in their data for them.
(https://i.postimg.cc/rw2DWJH4/Screenshot-2023-04-20-at-07-14-48-Labor-Force-Participation-Rate.png)
Labour force participation rates lower in 2023 than in 1990 :D
Then again the US is expert at FUDGING FIGURES to soothe the overbloated Hamellikwan collective ego. The figures on unemployment and inflation in the mass media, especially, that you readily consume (Kool-aid) :D.
Again, unless you are delusional. The writing is on the wall in black and white.
Ni hayo tu
-
Yes I think us turning into gig economy or just kali like Kenya did in 1990s where long term pensionable jobs disappeared.https://www.forbes.com/sites/nigelwilson/2023/02/08/taking-a-page-from-inclusive-capitalism-the-us-gig-economy-is-here-to-stay/?sh=6468eb8725f0
-
We are in this economic mess partly due to that UK and US are gangsta countries we must wean ourselves from the dollar we need an alternative form of legal tender,thats why the world is economicaly doomed because US and UK will do anything to maintain status quo just like our dynasties here .