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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