Comments by "worn down" (@worndown8280) on "Auto Loan Crisis Hits Next Phase" video.

@scotteric8711 That which is given, has no value.
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You think people thought long term? lol thats funny. Most people have the mindset of tomorrow I might die, so tonight, I'll live. And its why they stay poor.
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Wages should continue to raise for at least the next decade. The boomers have almost all retired but are still consuming so demand hasnt dropped yet. But they are starting to die. When they do mostly die off, in the next ten to 15 years, you will seed the demand curve turn and then workforce need will do likewise. Its why I dont think we will see tons of layoffs this recession.
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@28ericgilley the idea that technology may address labor issues could be a false one. Automation requires massive cost inputs. And at the same time that capital has become more expensive, increasing interest rates, you will also have shrinking markets which reduce your ROI and may make any technological improvements non cost effective. And at the same time we could even see a spike in commodities due to a lack of labor to harvest or mine whatever commodity is in question. Our current economic theories only work when we have a positive growth assumed. Demographics as they stand now show a massive implosion about to happen in the developed world. Fun times.
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Probably because they closed their businesses. In San Francisco something like 50% of small businesses in the city closed for good. The PPP was the small business owner severance package.
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