Why do you think spending habits will return to where they were. Why do you think there will be the same demand for the same things that were before. I have a feeling people are learning that they eat out too much and that they waste too much money on vacations and leisure items. I think a whole mind set has changed and that we are in a new paradigm.
Some of the most penetrating and objective discourse on the American position I’ve ever seen. Absolutely well done. Hats off. Clap clap. Subscribed and all the rest of it.
At around 34:50, he says [ automation causes a decline in productivity of the bottom 50% based on wage. ] Let's call it automation will eliminatr jobs from the bottom 50%. Most job losses will be in the service/retail industry, which is largely what we now have in the US. we no longer have a manufacturing sector, gone overseas. Lastly, the wage gap is not caused by automation. It is because unions are dwindling. This guy (the guest) tells many half-truths. And which country are we getting our antibiotics from?
Great interview! Lazear’s assumption that inflation would not take off due to the special measures now being taken may be correct, but depends on the odd measures of inflation in the US: at the present time none of CPI-U, C-CPI-U, the PCEPI and the experimental HICP measures include housing prices. By the most optimistic estimates the US economy may trough this quarter and start recovering in the second half of the year. With the federal funds deposit rate as low as it can go and massive QE it is hard to see how that would not cause housing prices to rise if the real estate markets are functioning again about as usual, possibly setting the stage for another financial meltdown. More than 13 years after the housing bubble burst before the financial crisis, the US Fed is still following a dysfunctional target inflation indicator in the PCEPI. The experimental US HICP for the total population would have been a much better inflation measure, matching the Eurostat methodology if the EU had not lost its nerve and postponed or cancelled incorporation of an owner-occupied housing component based on a net acquisitions approach. However, there is no reason the US Bureau of Labor Statistics couldn’t add such a component on its own, boldly going where no national statistics institute has been before.
Great channel. Most Policy makers and analysts are totally disconnected with reality though as most of them were born on 3rd base and thought they hit a home run.
"Much to everybody's surprise.....[the labour market is devastated]." Really? You have to willfully ignorant, at best, to come out with such a ridiculous statement. Gerald Celentes was certainly not surprised.
I wouldn't attempt to operate a 'non-essential' SME in the 'new normal' - the risk of another seasonal lockdown is too great to justify the investment. Plus financing, leasing, insurances ... will now be much more expensive if they're even available. Similar considerations will affect employment. I expect that contracting could become dominant as it's more flexible for companies and avoids the liability and regulatory overhead of supporting an at-home employee.
Positive with the exception of most of the population that were already living paycheck to paycheck and the restaurants with food that will expire and debt that won't be able to be serviced with zero revenue for months. A good discussion nevertheless though.
Why do you think spending habits will return to where they were. Why do you think there will be the same demand for the same things that were before. I have a feeling people are learning that they eat out too much and that they waste too much money on vacations and leisure items. I think a whole mind set has changed and that we are in a new paradigm.
Some of the most penetrating and objective discourse on the American position I’ve ever seen. Absolutely well done. Hats off. Clap clap. Subscribed and all the rest of it.
At around 34:50, he says [ automation causes a decline in productivity of the bottom 50% based on wage. ] Let's call it automation will eliminatr jobs from the bottom 50%. Most job losses will be in the service/retail industry, which is largely what we now have in the US. we no longer have a manufacturing sector, gone overseas. Lastly, the wage gap is not caused by automation. It is because unions are dwindling. This guy (the guest) tells many half-truths. And which country are we getting our antibiotics from?
Great interview! Lazear’s assumption that inflation would not take off due to the special measures now being taken may be correct, but depends on the odd measures of inflation in the US: at the present time none of CPI-U, C-CPI-U, the PCEPI and the experimental HICP measures include housing prices. By the most optimistic estimates the US economy may trough this quarter and start recovering in the second half of the year. With the federal funds deposit rate as low as it can go and massive QE it is hard to see how that would not cause housing prices to rise if the real estate markets are functioning again about as usual, possibly setting the stage for another financial meltdown. More than 13 years after the housing bubble burst before the financial crisis, the US Fed is still following a dysfunctional target inflation indicator in the PCEPI. The experimental US HICP for the total population would have been a much better inflation measure, matching the Eurostat methodology if the EU had not lost its nerve and postponed or cancelled incorporation of an owner-occupied housing component based on a net acquisitions approach. However, there is no reason the US Bureau of Labor Statistics couldn’t add such a component on its own, boldly going where no national statistics institute has been before.
But the number of CEO's resigning is a non issue huh?
eddy the old rule don't reflect the 23 % of labor being leisure time industry ??
Great channel. Most Policy makers and analysts are totally disconnected with reality though as most of them were born on 3rd base and thought they hit a home run.
Did I miss the question and answer exchange on how many US businesses relocated to China while Professor Lazear was in the White House?
"Much to everybody's surprise.....[the labour market is devastated]." Really? You have to willfully ignorant, at best, to come out with such a ridiculous statement. Gerald Celentes was certainly not surprised.
Bye Bye yeah that was quite an opening statement, my jaw dropped...
That it was that low.
Is that a massage chair in the background?
I wouldn't attempt to operate a 'non-essential' SME in the 'new normal' - the risk of another seasonal lockdown is too great to justify the investment. Plus financing, leasing, insurances ... will now be much more expensive if they're even available. Similar considerations will affect employment. I expect that contracting could become dominant as it's more flexible for companies and avoids the liability and regulatory overhead of supporting an at-home employee.
What a great discussion and actually quite positive!! Thank you
Positive with the exception of most of the population that were already living paycheck to paycheck and the restaurants with food that will expire and debt that won't be able to be serviced with zero revenue for months. A good discussion nevertheless though.
quite scary, but not surprising, given the government-induced depression-
Stop calling it "Covid". Talk about merging of the Treasury and FedRes and what it means.
Penned Ideas any videos on that ?
Dude y'all need to get a better camera angle and chill some yr at home say it like yu mean it not like yr reading it