[trod123]

> Eventually ...

Yes, but the problems start in severe economic crises. Specifically, when those several months turn into years.

Many filters during the hiring process, prior to interview will discard those candidates who have gaps since last employment regardless of circumstance. They may use AI as a third-party company to review and obscure the fact that they aren't hiring anyone over 40, female, or otherwise protected classes but that is what is happening regularly, along with other elements such as degrees being weighted higher than experience algorithmically.

> I do understand ...

I can tell you from personal experience, this opinion of yours isn't reflective of the whole. I've been in Tech for a decade, I was unlucky and was laid off before the major lay offs (2022) as I was involved in workforce reduction for a buyout merger. I've been looking ever since, and I've had to find work elsewhere in the interim once my reserves were expended.

I was extremely frugal, cooking everything myself, nothing luxurious. Inflation destroyed my reserves, the lack of jobs forced me to look wider than my given profession since there are no jobs, and I had more saved than most (>50k in liquid reserves at the start).

This isn't some recession like before. This is a great depression, potentially a big debt crises like Germany pre-WW2.

70% of my professional network in IT/Tech right now, across the board, is out of work. I'll let that sink in. 70%.

We are at peak hiring for seasonal hiring and unemployment is 7.0% in August? Hiring freezes guarantee this will be double digits by the annual count. National unemployment is 1.5%. That's a 4.6x national distortion between the national average unemployment and one sector that impacts everything else as a labor multiplier, and that measurement only counts those currently getting unemployment, any long-term displacement outside 18 weeks isn't counted.

Its looking more like we're in the middle of an economic collapse, which makes sense if you know about ponzi's, economics of boom-bust cycles, and how we are entering a bust cycle related to the petrodollar agreement abandonment (by the Saudi's); all those dollars printed for abroad use are now flowing back to compete with the same goods despite high interest rates.

BRICS largely isn't about attacking the US economically, its about sheltering from the global economic fallout of fiat money printing, for more than half a century. The bankers are and have been doing this to us since before we were born, and this happens every time large fractions of global assets get concentrated into few hands. Its cyclical. Large market-share companies are funded by preferential loans made by those same bankers. This is how you sieve wealth and marketshare, then drive prices up, and eventually end in deflation or hyper-inflationary collapse, because unlike normal systems economics is both sticky psychologically, and mathematically chaotic (3-body-problem).

There is no beautiful deleveraging, the bill always comes due. If this worsens, and I don't see how it cannot, this will be known by the survivors as the folly of one big generation.

[aworks]

US President Harry Truman: "It's a recession when your neighbor loses his job; it's a depression when you lose yours."

[nradov]

I'm sorry for your troubles but that unhinged rant is completely disconnected from objective reality.

BRICs isn't even a real thing, it's a total joke. They've been talking about an alternative reserve currency for years but have made zero real progress.

[teractiveodular]

> This is a great depression

No, it's not even close. Unemployment in 1933 was 25%.

[trod123]

You are comparing apples to oranges.

Unemployment calculations from data recorded during that time have since changed. The same unemployment numbers are not the same mathematical objects being compared.

At this point, we can never know the true scope of unemployment to make any comparison definitively, because the measurements no longer accurately collect the necessary information for such a comparison.

You don't see engineers turn sampling data into an average rate of change, and then use it for safety-critical applications that require instantaneous rates of change.

In my previous response, I said unemployment today isn't counted after 18 weeks, so you should be aware that these objects are not the same.

Just because you have no visibility on a problem doesn't mean there isn't a problem especially when objective measures indicate there is a problem.

No definitive comparison can be made objectively, claiming its not even close would involve delusion when no external objective comparison can be made, definitionally.