Published by Scotties Playtime
I am an older gay guy in a long-term wonderful relationship. My spouse and I are in our 36th year together. I love politics and news. I enjoy civil discussions and have no taboo subjects. My pronouns are he / him / his and my email is Scottiestoybox@gmail.com
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“2025: The year without job creation” I got introduced to Claudia Sahm’s blog by Paul Krugman. She has a gift for making this kind of economics stuff understandable
The one true thing the Tangerine Troll ever got right was we’d get tired of what he calls ‘Winning‘
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FTFY…they’re demanding ID from white people, too.
I”m so old I remember when Republicans derided countroes that required their citizens to “show their papers” when the shadow secret police demanded it…
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Hi Bruce I agree. Thanks for the link. It was an interesting read. tRump keeps claiming that the Biden economy was so bad yet Biden had far better job growth and incomes were rising but slowly. Under tRump and his failure to understand even the basic principles of economics he has put the people in horrific circumstances for just filling the basic needs much less having a quality of life. He honestly believes that nice things and a quality of life belong to the upper incomes only and the lower incomes should have nothing. The wealthy class wants a workforce of poor despererate people wo will take any job in any conditions at any low wage and not complain just to survive. Hugs
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Actually, despite the high inflation caused by the pandenic and ensuing supply chain crisis, wage growth under Bided outpaced inflation, handily.
But it’s been so long since the last time inflation ran wild (the late ’70’s) that the general public forgot that:
Inflation is a one-way ratchet, normally. Prices go up, but they rarely fall back.
Wage increases are a major driver of inflation
Because inflation paced their wage increases, people percieve they’re not doing better (because they’re not really, they’re just not falling behind)
This let trump lie and proclaim he’ll bring prices down on day 1.
If you want to see what ‘the wealthy class’ are looking towards read Krugman’s substack from yesterday, particularly the linked article from Citrini Research .
It is their analysis/thought piece on the possible outcome of the AI boom…and it’s low-key horrifying. They posit that it will decimate white collar jobs, particularly among the top 10-15% households (which account for ~50% of consumer spending in an economy that is entirely driven by consumer spending)
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Hi Bruce. Horrifying what AI could do to the economy and to the workforce. Thanks for the links. Back in the 1980s I had a wise older friend who told me that in the future labor would be done by robots and other jobs by computers to the point that there simply wouldn’t be enough jobs for each person to have a full time job. People would share jobs if they wished to work with very limited work hours. He felt that people would need a basic income to ensure a quality of life and be taught how to be productive with private pursuits instead of destructive with all the leisure time. Other countries are working for this I have read, but the US is doing just the opposite. I really worry for the younger people and the older working people, two groups most likely to be hit the hardest. Hugs
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