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Good Jobs Are Disappearing: Solutions?: Thinking About Money, #3

Good Jobs Are Disappearing: Solutions?: Thinking About Money, #3

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Good Jobs Are Disappearing: Solutions?: Thinking About Money, #3

Comprimento:
87 página
52 minutos
Lançado em:
Sep 17, 2018
ISBN:
9781386346654
Formato:
Livro

Descrição

Can we possibly live in Lake Woebegone, "where all the women are strong, all the men are beautiful, and all the children are above average"?

You can be, and probably are, above average in some things and below average in others. Vive la difference!

But if your marketable job skills are below average, what then?

I submit, if you depend on the government you'll regret it. If you expect the government to solve your problems, you'll be disappointed. If you think the government will "provide jobs", you're mistaken.

On the other hand, never before in history have you had so much opportunity to become an owner instead of a worker. A capitalist instead of a laborer.

If you start a "side gig" you may work harder than ever. If you set aside a little money each month to buy stocks in other people's companies, you'll do without something to make it possible.

But, if you "live like NO ONE else, then later, you can LIVE like no one else".

If want to give yourself, your children, or your grandchildren a leg up, buy this book now!

Lançado em:
Sep 17, 2018
ISBN:
9781386346654
Formato:
Livro

Sobre o autor

Mel Clark writes about personal finance, retirement planning, and martial arts. His blue-collar parents raised him and his two sisters in a wonderful environment for children. The family, however, was always in debt, always making payments, and never saving. As a result, Mel is compelled to share hard-won money lessons with working folks. He wants them to know the benefits of saving and investing. You don’t have to be rich to become financially independent. Mel and his lovely wife Linda live near Virginia’s Blue Ridge Parkway. They enjoy ballroom dancing, the occasional camping trip and a silly game called Bananagrams. Mel is a graduate of the United States Military Academy at West Point and the Darden School of Business at the University of Virginia.

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Amostra do Livro

Good Jobs Are Disappearing - Mel Clark

Good Jobs Are Disappearing

Solutions?

By Mel Clark

Clear Thinking LLC, 2018

Contents

Prologue

Johnny Can’t Find a Job

Fiat Money Enables Massive Trade Deficits & Job Outsourcing

20% Front End Load Mutual Funds and $35 Brokerage Commissions

Free Trade Reduces the Cost of Outsourcing Jobs

Johnny’s Interview Results, $1 Commissions & No-Load Mutual Funds

High US Corporate Taxes Incentivize Job Outsourcing

Johnny Embraces the Gig Economy

Technology Enables White Collar Job Outsourcing

Johnny’s Business Starts Slow

Technology Enables Rapid Job Elimination

Johnny Takes a Part-Time Job

Labor Force Participation and Unemployment Rates

Johnny Wants to Take a Car Loan

Saving Crisis

Johnny Wants an Apartment

Johnny’s Friend Loses His Job

The Insecurity of Jobs Compared to Gigs

Johnny Wants to Get Married and Have Kids

Live like NO ONE else, so later, you can LIVE like no one else.

Epilogue

Prologue

The Washington Post, May 11th 2016, article titled "The middle class is shrinking just about everywhere in America"

"Pew reported in December that a clear majority of American adults no longer live in the middle class, a demographic reality shaped by decades of widening inequality, declining industry and the erosion of financial stability and family-wage jobs. But while much of the attention has focused on communities hardest hit by economic declines, the new Pew data, based on metro-level income data since 2000, show that middle-class stagnation is a far broader phenomenon.

The share of adults living in middle-income households has also dwindled in Washington, New York, San Francisco, Atlanta and Denver. It's fallen in smaller Midwestern metros where the middle class has long made up an overwhelming majority of the population. It's withering in coastal tech hubs, in military towns, in college communities, in Sun Belt cities.

The decline of the American middle class is a pervasive local phenomenon, according to Pew, which analyzed census and American Community Survey data in 229 metros across the country, encompassing about three-quarters of the U.S. population. In 203 of those metros, the share of adults in middle-income households fell from 2000 to 2014."

As I write this the US and world economies are nine years into an economic recovery. A weak recovery, but a long one.

The unemployment rate in the United States recently clocked in at 3.9%.

Full Employment so they say. Many companies can’t find qualified workers to fill job openings.

According to www.careercast.com, the most difficult jobs to fill in 2017 were:

1) Data Scientist

2) Financial Advisor

3) General Manager and Operations Manager

4) Home Health Aide

5) Information Security Analyst

6) Physical Therapist

7) Registered Nurse

8) Software Engineer

9) Truck Driver

Three of the most in demand jobs are in Information Technology.

1) Data Scientist

5) Information Security Analyst

8) Software Engineer

Four more need specialized education or certification.

2) Financial Advisor

3) General Manager and Operations Manager

6) Physical Therapist

7) Registered Nurse

I don’t know what's required to be a Home Health Aide, but to be a Truck Driver you need a CDL driver’s license.

The jobs going begging are relatively high skilled jobs. Nothing unusual about that. But, people without those skills have a harder time of it.

Across the board, real wages (wages adjusted for inflation) lag.

The chart below is published by www.pewresearch.com. It shows inflation-adjusted real wages have improved by $1.49 (in 2014 dollars) over the past 50 years. Pathetic.

The FED’s been trying to create inflation above 2% and failing.

Some say they’ll succeed beyond their wildest dreams. The same people (I was one of them a few years ago) have predicted high inflation for years; ever since the FED began buying bonds on the open market (called QE1).

It turns out a great many of the new jobs created during the recovery were part-time, low wage jobs.

Below is an excerpt from a post on www.businessinsider.com. It was written by Pedro Nicolaci da Costa on August 8th, 2017. The title is, More Americans need a 2nd job to make ends meet — and it's sending a troubling message about the economy.

"One trend could be especially ominous: a spike in the number of Americans

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