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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