If it’s federal government employment that is dropping, or illegal alien jobs dropping, then some will view it positively (I’ve seen this perspective advanced on x.com).
As it turns out, no one wants to invest in infrastructure when all the inputs are going to be tariffed to oblivion. All else equal why invest in USA when you could invest somewhere where you can import the needed inputs much cheaper? Protectionism isn't enough to overcome losing access to world markets.
Eventually the protected industries will be totally disconnected from global markets causing them to lose global competitiveness, to the point they cannot even compete with the black market markups. And then you are maga, er mega, fucked.
These perspectives bother me a lot, because I want to invest passively, but if people are out there thinking like that, maybe nothing is priced right...
Priced right if money is moving from the bottom 90% to the top 10%. Stock market growth is because theres excess money and people need to invest the money. Supply and demand. There's reason why you can buy any ultra luxury car right(look at ferrari's revenue growth) and private jet industry is booming.
The market is only "right" in the very long term, and probably not in a way that's useful (companies that die eventually price to 0...but not a useful signal if its riding high all the way before it crashes).
What does "priced right" even mean? For whom? When a public company makes billions in profits by selling insanely overpriced hardware, then that's "priced right" for the shareholders.
When a supermarket gives out 25% discount stickers to use, then the price of the good is closer to being priced right for the consumer, as long as you apply the sticker. There is, of course, no reason to assume that the supermarket would operate at a loss or close to cost. These 25% are already priced in and anyone not using the stickers is paying extra.
Nothing has been priced right ever since they've (the collective of anyone willing to sell something) figured out that they can ask for however-much people are willing to pay, which is quite more than what MY FELLOW HUMANS would need to pay.
For everyone else, who aren't willing to pay deliberately inflated prices, there's usually always some form of discount for some product, somewhere to be found.
The Challenger report contains large companies' announced future cuts. Not government, not small and medium business, not actual job losses. So neither, really.
Well those are incredibly ignorant and mostly likely strongly biased beliefs. When I worked for NASA and the DoE, I was surrounded by the most competent, hard-working, productive people I've ever known. Silicon Valley engineers are a joke compared to government engineers. Silicon valley people have newer toys and more flexible funding and no oversight, but government employees have vastly more impact and actual measurable utility. Only morons born into enough safety and security that they can be completely ignorant of how the actual world works believe the government is unnecessary and as many government jobs as possible should be deleted. The owner of that twitter platform you linked to killed several hundred thousand people last year, and again this year, and again next year, through sheer narcissistic incompetence. Is that a good source for any information at all?
The original roll out of Healthcare.gov is a counterpoint.
Looking at salaries, senior developers working for the government get paid about the same as entry level software engineers who get return offers at BigTech. Well actually senior developers in government only about 10%-20% more.
And even if you did work in pub sec, if you were good, why would you want to work for the government when you can get paid a lot more working in the private sector and consulting for the government?
I know how much senior cloud consultants working at AWS make working in the WWPS. I was there as an l5. Amazon is a shitty place to work. But I doubt it’s any worse than the government right now. GCP and Microsoft (not just Azure) both also pay their consultants a lot more than government employees make.
I’m not saying the government isn’t needed. But the best and the brightest aren’t going to give up the amount of money they can make in the private sector - especially now that government jobs are far from a secure paycheck
Also a good bs indicator: 'illegal alien jobs'. As if the demand vanishes with the poor souls to uganda. It just framing in hope of twisting a win out of it, because if you would have stated that sub-minimum wage jobs are in decline, this would be a terrible economic indicator for the US.
I agree with your opposition to the comment above, but I feel like the condescension towards silicon valley, and non-government employees is not a way to start a healthy dialogue. Like you are not going to convince anybody by calling 80+% of people here (private sector employees) "a joke".
I agree that randos on twitter are a bad source of information.
Estimates of criminal activity, for example, are frequently counted as GDP in places like the UK. And even if you’re working in violation of visa rules, the IRS will still expect and enforce taxes.
hx8|22 days ago
[0] https://www.cbsnews.com/news/layoffs-unemployment-jobs-econo...
mothballed|22 days ago
Eventually the protected industries will be totally disconnected from global markets causing them to lose global competitiveness, to the point they cannot even compete with the black market markups. And then you are maga, er mega, fucked.
whatshisface|22 days ago
adrr|22 days ago
ambicapter|22 days ago
5o1ecist|22 days ago
What does "priced right" even mean? For whom? When a public company makes billions in profits by selling insanely overpriced hardware, then that's "priced right" for the shareholders.
When a supermarket gives out 25% discount stickers to use, then the price of the good is closer to being priced right for the consumer, as long as you apply the sticker. There is, of course, no reason to assume that the supermarket would operate at a loss or close to cost. These 25% are already priced in and anyone not using the stickers is paying extra.
Nothing has been priced right ever since they've (the collective of anyone willing to sell something) figured out that they can ask for however-much people are willing to pay, which is quite more than what MY FELLOW HUMANS would need to pay.
For everyone else, who aren't willing to pay deliberately inflated prices, there's usually always some form of discount for some product, somewhere to be found.
FireBeyond|22 days ago
mcphage|22 days ago
esbranson|22 days ago
gjlisjlrj|22 days ago
raw_anon_1111|22 days ago
Looking at salaries, senior developers working for the government get paid about the same as entry level software engineers who get return offers at BigTech. Well actually senior developers in government only about 10%-20% more.
And even if you did work in pub sec, if you were good, why would you want to work for the government when you can get paid a lot more working in the private sector and consulting for the government?
I know how much senior cloud consultants working at AWS make working in the WWPS. I was there as an l5. Amazon is a shitty place to work. But I doubt it’s any worse than the government right now. GCP and Microsoft (not just Azure) both also pay their consultants a lot more than government employees make.
I’m not saying the government isn’t needed. But the best and the brightest aren’t going to give up the amount of money they can make in the private sector - especially now that government jobs are far from a secure paycheck
throwawayqqq11|22 days ago
onerandompotato|22 days ago
I agree that randos on twitter are a bad source of information.
testing22321|22 days ago
sigh If only the department of education was as well funded as the department of war.
spacebanana7|22 days ago
Estimates of criminal activity, for example, are frequently counted as GDP in places like the UK. And even if you’re working in violation of visa rules, the IRS will still expect and enforce taxes.
offmycloud|22 days ago
viraptor|22 days ago
alephnerd|22 days ago