I agree, with one addition. In the 70's and 80's my pay lagged 20% to
30% behind inflation. What might have been decent pay was mediocre...
On 2022-12-11 06:12, George Toft via PLUG-discuss wrote:
Part 2 on your 35% comment:
with higher prices come higher wages and the gov't gets more taxes.
After a few years, Congress will adjust the tax code, meanwhile the
really low income folks who weren't paying much, pay quite a bit.
Regards,
George Toft
On 12/2/2022 7:19 AM, Keith Smith via PLUG-discuss wrote:
Hi Ed,
On 2022-12-01 22:37, Ed via PLUG-discuss wrote:
you should look up the difference between a recession and a
depression. Odds are we will have a middling recession, but the real
problem is and will be inflation. Inflation is a ratchet, it only
goes
in one direction and hits everyone and everything*. It's like a
network that has more and more noise on the line. For context,
consider that people experience something like a half dozen
recessions
in their lifetime - more or less. It's the business cycle.
I'm old so I have lived through more bad economies than good
economies.
I think this one is going to be the worst of all.
You already said it - you expect robotics to become more involved so
go do that. Just remember robots are capital intensive - so go with
the big.
I'm specializing in browser based business web apps. I like robotics,
however at this station in my life it is probably not a good fit.
*except for Japan and it's lost decade(s) - they had/have deflation
I think we are about to have really bad inflation for the next 10
years. Based on what I hear, the fed cannot raise interest rates high
enough to kill inflation because we have over 30 trillion in national
debt. It is my understanding that as they raise interest rates the
cost of servicing the debt goes up. Given that we may have to just
ride this out.
Another thought that is floating around is the Federal Gov. likes
inflation. Think about it. If we have 10% inflation for the next 10
years that means the value of national debt is reduced to 35% of what
is is today.
On Sat, Nov 19, 2022 at 7:13 AM Keith Smith via PLUG-discuss
<plug-discuss@lists.phxlinux.org> wrote:
Hi,
I am reading and watching YouTube videos that say the economy is
going
to tank to maybe as bad as the depression.
If this is true what skills are going to be in demand.
I suspect there will be a real push to automate things so I'm
guessing
those who can create browser based business web apps and phone apps
will
be in high demand. That will equate to the administrator skills to
support such things.
I also expect robotics to become more involved in factories,
manufacturing, and even flipping burgers.
What say you?
Thanks!!
Keith
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