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EliRivers 11 hours ago [-]
I am but one data point.
I have a fairly broad portfolio of stocks, ranging from blue chips to outright bets inspired by the wallstreetbets crowd.
I have divested entirely of anything that relies on the spending power of the British consumer; retail, house builders, all of it. British people just don't have discretionary money to spend, and it's getting worse rather than better. Thus far, this particular stock market bet has gone well for me (although obviously it's a sign of bad times for the UK consumer). This is not the same as British companies; those with large overseas markets are still going. My Games Workshop shares have been absolute champs, for example.
I cannot speak for other countries, but the UK is one I can see with my own eyes. The people are just ending up with ever less discretionary spending power, where discretionary now appears to be gradually edging towards including "something to live inside" and "food."
hollow-moe 12 hours ago [-]
For 69€/month subscription ig this article isn't as much for the people whose wage will shrink than for the people which will take the decisions which will shrink these wages.
bsoles 5 hours ago [-]
My "strong" performance rating got me a raise less than the inflation rate this year in the US. I guess I am not using enough tokens to justify a bigger raise.
charlie0 7 hours ago [-]
I visited the Balkans recently. One thing that is very clear to me as a n American is that the rest of the world is catching up. English taught at a young age, internet access is easier than ever and in aome cases superior to US options. Like it or not, people from the developed countries are competing much more on the world stage than they realize. For companies, why pay 2x the price of a developer in the US when they can find good talent elsewhere? I'd love to leave the US and geo-arbitrage while I still can, I'm on a slowly sinking ship.
rbbydotdev 7 hours ago [-]
Human output is not money go in production come out. This is tired. Companies continue to headquarter in the most expensive cities in the world. Surely they would all REMOTE TO THE BALKANS by now if it were actually a viable option
faangguyindia 3 hours ago [-]
Because it's casino like setup. Where management buys real estate in a city and headquarter their. Major chunk of employees wages end up right into the pockets of Executives through wages
On paper you get employees who are paid very high but large amount of that money goes right back into pocket of rich wealthy people who control the companies
charlie0 4 hours ago [-]
Good talent is still hard to find so that's not going to happen for large companies, but lots of startups are going in that direction.
commandlinefan 1 hours ago [-]
Isn't this globalization working as designed? People in "rich" countries will get less and less while people in "poor" countries will get more and more until there are no more rich or poor countries. Rich and poor people will still exist, but the standard of living will regress to the mean worldwide.
sharts 12 hours ago [-]
Start to?
MrGilbert 10 hours ago [-]
It's like Gartner is predicting the PC markt to go belly up for almost 10 years now, except that now the market IS going belly up - and they are still pretty conservative in their predictions.
Ekaros 7 hours ago [-]
And PC market is not going belly up for any reason they predicted. But because price are sky rocketing on two key components due to external pressure. And one of the players mostly stopped caring.
I believe it would spring back once prices return to where they were or only slightly higher...
The general news are monothematic especially in countries where assholes or dictators took over. The fact is in terms of economy and employment we've been in a massive crisis for maybe 3 years now. Have we hit the bottom yet?
pjc50 10 hours ago [-]
> The squeeze on workers creates two separate worries for policymakers. One is that households will rein in spending, worsening the hit from the war to economic growth and forcing companies to cut jobs as demand slows.
Well, yes, there's an incoming petrol/jet fuel shortage which is currently being disguised by running down inventory. That is necessarily going to hit consumption. Only way out of that is investment, which if targeted correctly both improves the economy in the short run and provides productivity benefits in the future.
There is, as they say, a war on.
> The other possibility is that workers will succeed in bidding up wages, fuelling persistent inflation even once energy prices fall.
This is the central madness of our times: people do want higher wages, but they don't want inflation, except a large part of inflation in a service economy is .. other people's wages.
hulitu 8 hours ago [-]
Article brought to you by Sleeping Beauty. It took "ft" 6 years to notice.
citrin_ru 7 hours ago [-]
IMHO it's around 4 years: inflation surge in late 2021/22 and following years was not matched by salaries but 2020 was not yet that bad.
burnt-resistor 10 hours ago [-]
Haven't kept up in 40 years because of the perverse incentives and inequality created by tax cuts and supply-side nonsense.
rdwrrr 8 hours ago [-]
Inflation will do that for you.
Government spending and money printing are the primary problems, the rest is noise.
I have a fairly broad portfolio of stocks, ranging from blue chips to outright bets inspired by the wallstreetbets crowd.
I have divested entirely of anything that relies on the spending power of the British consumer; retail, house builders, all of it. British people just don't have discretionary money to spend, and it's getting worse rather than better. Thus far, this particular stock market bet has gone well for me (although obviously it's a sign of bad times for the UK consumer). This is not the same as British companies; those with large overseas markets are still going. My Games Workshop shares have been absolute champs, for example.
I cannot speak for other countries, but the UK is one I can see with my own eyes. The people are just ending up with ever less discretionary spending power, where discretionary now appears to be gradually edging towards including "something to live inside" and "food."
On paper you get employees who are paid very high but large amount of that money goes right back into pocket of rich wealthy people who control the companies
I believe it would spring back once prices return to where they were or only slightly higher...
Well, yes, there's an incoming petrol/jet fuel shortage which is currently being disguised by running down inventory. That is necessarily going to hit consumption. Only way out of that is investment, which if targeted correctly both improves the economy in the short run and provides productivity benefits in the future.
There is, as they say, a war on.
> The other possibility is that workers will succeed in bidding up wages, fuelling persistent inflation even once energy prices fall.
This is the central madness of our times: people do want higher wages, but they don't want inflation, except a large part of inflation in a service economy is .. other people's wages.